FireFox Gold acquires property in Finland

Vancouver-based FireFox Gold (TSXV: FFOX) has acquired property covering 984 sq. km in the Kierinki Schist belt in northern Finland’s Lapland region. The company says the two blocks, collectively known as the Kierinki project, have the geologic potential to host orogenic gold deposits.

Kierinki is located 30 km from Firefox’s other gold projects, which cover more than 500 sq. km in the Central Lapland Greentstone Belt. The two new blocks cover the majority of the Kierinki Schist Belt, which consists primarily of quartzites and sandstones, along with minor mafic volcanic rocks.

According to a statement from the company on Aug. 19, the Kierinki area has not been explored in detail and has only seen reconnaissance studies by the Geological Survey of Finland. The area was first highlighted by the government-sponsored Nordkalott project, which studied the geology of the Nordkalott area in northern Fennoscandia, which is the geographical peninsula comprising the Scandinavian Peninsula, Finland, Karelia and the Kola Peninsula.

Firefox CEO Carl Löfberg says the region hosts several prominent gold anomalies, and the Kierinki Schist Belt shares similarities to other schist belts hosting high-grade gold occurrences. Löfberg says prospecting will start later this field season.

Elsewhere in Lapland, the company will initiate the second-phase drill campaign consisting of five to seven holes probing 200 to 300 metres deep at its Mustajarvi gold project this September. Drilling will target the high-grade zone that was discovered during the first phase of the drill campaign in 2018, which intersected a two-metre-thick, massive pyrite zone from 126 metres down-hole that assayed 45.1 grams per tonne gold, including 0.5 metre grading 73.7 grams gold per tonne.

The second phase of the drill campaign will also focus on four new gold targets that a 2018 induced-polarization survey identified at Mustajarvi.

FireFox, which focuses solely on gold exploration in Finland, has four other projects: Jeesio; Seuru; Ylojarvi; and Riikonkoski. The portfolio covers more than 1500 square kilometres.

At press time, FireFox’s shares were trading at 15¢ apiece within a 52-week range of 9¢ and 39¢.  The company has 22.5 million common shares outstanding for a market cap of $5.5 million.