FireFox Gold Corp. (“FireFox” or the “Company”) is pleased to report that it has been granted a new exploration permit covering nearly 20km2 along a major geologic break (“the Kolho Trend”) in Finland’s Central Lapland Greenstone Belt (CLGB).
The Kolho Trend occupies a 23-kilometer-long section of a key thrusted contact zone that is deformed around older granitic rocks. Regional mapping by the Geological Survey of Finland (GTK) and limited exploration along the trend has revealed evidence of complex faulting and folding from multiple deformation events. Bedrock geology is interpreted to include mafic to ultramafic volcanic rocks, graphitic schists, and quartz-rich clastic rocks that have been thrust onto Archean basement to the east. These rock units are part of the assemblages that host Agnico Eagle’s Kittilä Mine and Rupert Resources’ Ikkari deposit.
In spite of its prospective setting, there is evidence of only very limited gold exploration along the Kolho Trend prior to FireFox gaining control of it in 2020 via an exploration reservation. The Company subsequently applied for six exploration permits covering 122.60 km2 of the original reservation area, of which the central 19.56 km2 license, “Nuttio” is the first to be approved. Issued by Tukes, the Finnish Safety and Chemicals Agency, the exploration permit is an important step as it allows for mechanized work, including diamond drilling, exploration trenching and bottom-of-bill (BoT) sampling.
FireFox’s CEO, Carl Löfberg, commented, “Our previous surface and geophysical work secured our belief that the Kolho Trend is highly prospective for orogenic gold deposits. This huge new Nuttio permit is just the first of several we expect to receive to cover the entire trend, allowing us to control exploration and discovery in an exciting new area. We are eager to get started, so we have mobilized a BoT rig to take advantage of the remaining winter drill season with a brief sampling program.”
Since 2020 FireFox has undertaken reconnaissance exploration and completed airborne magnetics over the area. The FireFox team worked jointly with GoldSpot Discoveries on an integrated interpretation of the geophysical data along the Kolho Trend. In addition to the multiple generations of deformation that are evident in the Kolho thrusting and shearing corridor, there are also prominent N-S and NE oriented linears that appear to be later stage structures. The presence of these late crosscutting structures is consistent with the setting of the Kittilä Mine along the Kiistala shear zone (~20km NW).
Based on this targeting work, FireFox selected the Nuttio permit as the first project to move forward along the Kolho Trend. The Company has mobilized a BoT drill rig to Nuttio and commenced its first detailed sub-surface testing program.
FireFox cautions that proximity or similar geology to another gold deposit or active mine does not indicate that mineralization will occur on FireFox’s property, and if mineralization does occur, that it will occur in sufficient quantity or grade that would be economically viable. These factors are only cited as evidence of prospectivity of certain properties.
Source: Junior Mining Network