FireFox Gold (TSXV:FFOX) Completes Spring Step-Out Drill Program at Mustajärvi Project, Assays in Progress

Figure 1 – Spring 2023 drilling campaign at Mustajärvi East Target – infill and step out holes. Source: FireFox Gold

FireFox Gold Corp. (TSXV:FFOX) (OTCQB:FFOXF) has announced the successful completion of a drilling program at the newly identified high-grade zone in the East Target of the Mustajärvi Project. This spring 2023 project saw the company drilling nine diamond core holes with a cumulative length of 1540.6 metres. These drillings aimed to fill gaps in the modelled near-surface gold shapes and explore possible extensions to the west and southwest.

The program also included drilling at key points in the replacement style gold mineralization found in the East Target, with step-outs of 80m and 220m along the southwest strike. The company is currently analyzing assays of the drill core.

FireFox Gold has also completed a multielement geochemical analysis of the drill core obtained from the 2022 fall drilling campaign. This new data aligns with the earlier drilling results from Mustajärvi; the gold mineralization has consistently high levels of bismuth (Bi), tellurium (Te), molybdenum (Mo), selenium (Se), nickel (Ni), and cobalt (Co). Silver (Ag), arsenic (As), and copper (Cu) were found at relatively low levels at Mustajärvi. Notably, Cobalt was found at high levels in the East Target, reaching maximum values of 0.497% and 0.461% over separate 1 metre samples in the 2022 drilling.

Located between Kittilä and Sodankylä and approximately 17 kilometres east of Kittilä, the Mustajärvi Project stretches across the Mustajärvi Shear Zone (MSZ). The Sodankylä Group rocks primarily in the northern part of the shear zone include metamorphosed sedimentary and volcaniclastic rocks. Three significant areas of gold mineralization have been identified along a 2.1-kilometer segment of the MSZ, namely the Central Zone, the Northeast Target, and the East Target.

The spring 2023 drilling was focused on the East Target with the main objective to extend known, shallow high-grade mineralization. The high chargeability zone strikes northeast and dips to the southeast, and it was untested until this drill program. Most of the drill holes in this program were shallow due to the near-surface nature of the high-grade target in this area.

FireFox Gold geologists are currently examining the new drill core, with samples still being delivered to the lab for further analysis. More updates are expected to be released in the coming weeks.

FireFox’s CEO, Carl Löfberg, commented in a press release: “This drill program is meant to reveal the potential scale of the gold system we have been drilling at Mustajärvi. The combination of careful structural measurements and detailed interpretation of geophysics directed the team to focus the step-out drilling along a northeast-southwest corridor. Our preliminary impressions are that the new drilling has been successful in extending the mineralized corridor to the southwest. The elevated cobalt that is associated with the gold is a recurring theme at Mustajärvi. While we know the cobalt occurs in pyrite, which is also correlated with the gold, there remains a lot of work to understand whether the cobalt could be economically recovered. We look forward to the receipt of the gold and multielement assays from this latest round of drilling.

Table 1. Mustajärvi Spring 2023 Collar Information (coordinates presented in EPSG:3067).

Drill Hole Easting Northing Azimuth (°) Plunge (°) Final Depth (m)
23MJ001 429085 7501026.4 320 60 188
23MJ002 429037 7501068.4 140 50 151.7
23MJ003 429214 7500911.7 320 60 284
23MJ004 429111 7501055 240 50 175.4
23MJ005 429005 7500964 325 60 152.1
23MJ006 428990 7501053.5 60 50 32.1 (failed)
23MJ007 428988 7501052.4 60 50 168.9
23MJ008 428927 7500851.2 340 60 194.4
23MJ009 428972 7501058.5 145 45 194

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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