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FireFox did a winter drilling program of about 2,000 meters, and is now reporting on those holes.
The three holes reported today include new gold intercepts around the high-grade zone in the Northeast Target and a very shallow new gold intercept in the East Target.
At the East Target, a new hybrid drill rig intercepted gold associated with disseminated and vein pyrite in altered tuffites coming quite close to surface (22MJ003).
Two new holes offsetting the high-grade zone in the Northeast Target (22MJ001 and 22MJ002) also encountered significant gold mineralization, confirming the northeast strike and southeast dip of the en echelon vein system.
What you should know
- Hole 22MJ003 showed 4m of 6.35 grams per tonne gold. 6.35 g/t Au makes this an almost $400 rock (per tonne).
- Drill hole 22MJ001 returned multiple narrow intercepts of 5.76 to 15.92 g/t Au, including
- 1.9m averaging 8.96 g/t Au from 149.8m downhole, including 1.0m at 14.5 g/t Au; and
- 1.0m at 8.09 g/t Au from 164.3m downhole; and
- 1.25m at 8.32 g/t Au from 180.0m downhole, including 0.6m at 15.92 g/t Au; and
- 1.35m at 5.76 g/t Au from 203m downhole;
- Drill hole 21MJ002 intersected the high-grade zone up dip to the west in a narrow interval of 0.6m averaging 5.98 g/t Au from 154.3m downhole, as well as several narrow intercepts of 1.06 to 1.86 g/t Au shallower in the hole.
Other important developments for FireFox (TSXV: FFOX)
The early-stage drilling at the Jeesiö Project did not return significant gold intercepts, but the structural zone at the Utsamo Target continues to return encouraging evidence of faulting, alteration, and anomalous geochemistry.
This shows us why the company chose to return to Utsamo despite them being there previously. It seems like it might be worth it.
The drilling program has now moved on to FireFox’s Sarvi Project.
Further drilling is planned at Mustajärvi later this spring. New drilling will focus on the East Target and new targets in the southwest part of the permit. The East Target has now yielded multiple intercepts of strong gold mineralization that are open in all directions.
Although this is no jaw-dropping news, people with long-term focus are definitely noticing the potential already. While the information that this drill program provided does not make FireFox an immediate overtake target, it shows the company in which direction they should focus their further efforts, which could eventually make it an overtake target.
As always, I will discuss FireFox’s news with Dr. Hennigh in the weekly video newsletter. Subscribe to get an email when it airs.
If you have any questions regarding this news release, please post them in the comments below, and Dr. Hennigh will answer them.