Beiträge von newtechxl

  • Firefox Gold Corp. (FFOX)


    Firefox increases placement to $3-million



    2021-04-22 06:51 ET - News Release
    Mr. Carl Lofberg reports
    FIREFOX ANNOUNCES UPSIZE OF PREVIOUSLY ANNOUNCED NON-BROKERED PRIVATE PLACEMENT TO $3.0 MILLION
    Due to strong investor demand, Firefox Gold Corp. has increased its previously announced non-brokered private placement to 16,666,666 units of the company at a price of 18 cents per unit for gross proceeds of approximately $3.0-million. Each unit consists of one common share of the company and one-half of one common share purchase warrant, with each whole warrant being exercisable to acquire one common share at an exercise price of 27 cents per warrant share for a term of two years following the closing of the offering.
    Firefox is also pleased to announce that Tin International AG, a subsidiary of the Duetsche Rohstoff Group, has increased its previously announced lead order of up to 4,444,444 units or $800,000. Upon closing of the offering, Tin International AG is expected to own approximately 4.5 per cent of the issued and outstanding shares of Firefox.
    The proceeds of the offering will be used for general working capital and exploration activities on Firefox's gold exploration properties in Finland. Prior to the offering, Firefox had 81.8 million common shares outstanding as well as 33.2 million warrants and 6.6. million options to acquire common shares outstanding.
    The offering is expected to close on or about April 27, 2021. All securities issued pursuant to the offering shall be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. For further details relating to the offering please refer to the company's news release dated April 8, 2021.
    About Firefox Gold Corp.
    The company has been exploring for gold in Finland since 2017 where it holds a project portfolio that includes over 80,000 hectares of prospective ground.
    Finland is one of the top mining investment jurisdictions in the world as indicated by its multiple top 10 rankings in recent Fraser Institute surveys of mining companies. Having a strong mining law and long mining tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and Firefox is proud to have a Finland-based chief executive officer and technical team.
    We seek Safe Harbor.

  • Firefox Gold Corp. (FFOX)



    Firefox appoints Hennigh to technical advisory board



    2020-09-24 08:44 ET - News Release
    Mr. Patrick Highsmith reports
    DR. QUINTON HENNIGH JOINS FIREFOX GOLD TECHNICAL ADVISORY BOARD
    Renowned exploration geologist Dr. Quinton Hennigh has joined Firefox Gold Corp.'s technical advisory board.
    Dr. Hennigh joins a team of senior explorers from Finland and North America. The technical advisory board also includes Dr. Rich Goldfarb, a founding Firefox team member, and one of the most published researchers in the world on orogenic gold deposits. The technical team from GoldSpot Discoveries Corp. has also been in the field with Firefox geologists during the summer. These external experts will continue to work closely with Dr. Petri Peltonen, Firefox's exploration manager, and technical directors, Timo Maki and Patrick Highsmith.
    Dr. Hennigh began his distinguished career in gold exploration after obtaining his PhD in geology/geochemistry from the Colorado School of Mines. After working with major gold companies such as Newcrest Mining and Newmont Mining, Dr. Hennigh founded Novo Resources Corp., acting as its chief executive officer and currently serving as chairman. Among his notable project involvements are First Mining Gold's Springpole gold deposit in Ontario, Kirkland Lake Gold's acquisition of the Fosterville gold mine in Australia, the Rattlesnake Hills gold deposit in Wyoming and Lion One's Tuvatu gold project on Fiji, among many others.
    "We are excited to welcome Quinton to the Firefox team. He is among the most focused and creative explorers in our business," commented Patrick Highsmith, chairman of Firefox. "The Central Lapland greenstone belt is an emerging gold terrane with analogies to other important orogenic gold belts, but only now are we seeing sufficient geophysics, geochemistry, structural geology and drilling to unlock the next wave of discoveries. It is perfect timing to integrate the ideas from Goldspot and our technical advisory board ahead of our planned winter drill program."
    About Firefox Gold Corp.
    Firefox Gold is listed on the TSX Venture Exchange under the ticker symbol FFOX. The company is focused entirely on gold exploration in Finland where it is exploring its project portfolio that includes over 170,000 hectares of prospective ground.
    Finland is one of the top mining investment jurisdictions in the world as indicated by its multiple top 10 rankings in recent Fraser Institute Surveys of Mining Companies. Having a strong mining law and long mining tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and Firefox is proud to have a Finland-based chief executive officer and technical team.
    We seek Safe Harbor.

  • Firefox Gold Corp. (FFOX)

    Firefox Gold Launches Summer Exploration Program in Finland
    Canada NewsWire
    SODANKYLÄ, Finland, July 14, 2020
    SODANKYLÄ, Finland, July 14, 2020 /CNW/ - FireFox Gold Corp. ("FireFox" or the "Company") is pleased to announce that following its oversubscribed non-brokered private placement (see Company news release dated July 2, 2020), it has launched a multidisciplinary field program on several of its gold projects in the Central Lapland region of Finland. The majority of the field work will be focused on the Jeesiö and Sarvilehto ("Sarvi") Projects, which are in a portion of the Central Lapland Greenstone Belt ("CLGB") that has been a hotbed of recent activity by fellow explorers, Aurion Resources, Rupert Resources, and others. The primary objective of the program is to define drill targets at both Jeesiö and Sarvi for a fall and winter drill program.
    [Blockierte Grafik: https://secure.hushmail.com/1.1.6/shared/images/blank_image.gif]
    There are four major elements of the summer exploration program:

    • A high-resolution UAV (unmanned aerial vehicle) based airborne magnetics survey;
    • Excavator trenching and systematic sampling at several projects, and potentially oth er areas as prospecting results dictate;
    • Follow-up prospecting, reconnaissance mapping and sampling in areas of known gold mineralization or prospectivity, as well as newly acquired exploration reservations; and
    • A next-generation integrated interpretation and targeting exercise using multivariate data across the Company's Lapland properties.

    Patrick Highsmith, FireFox's chairman, commented, "We are very excited to launch a significant and fully funded summer exploration program that will include a state-of-the-art UAV magnetics survey as well as extensive good old-fashioned prospecting. Our Jeesiö and Sarvi Projects occur on-trend with important structures, where we have already identified gold occurrences of note. In addition to this work, we look forward to unveiling a next-generation integrated targeting exercise in the coming weeks. It is fantastic to see the Central Lapland Greenstone Belt finally enjoying significant levels of funding and drilling for its gold potential. As a team, we have been working these rocks for a long time; the emerging discoveries in the belt have heightened the intensity for all of us."
    Detailed Airborne Survey
    The airborne survey will commence in mid-July and will span over 1,100 line-kilometres. Radai Ltd (www.radai.fi) will conduct the survey at the Jeesiö and Sarvi Projects and surrounding areas. Radai is an experienced, innovative Finnish provider of airborne geophysics and other services, who has conducted recent mineral exploration airborne surveys in Lapland for Boliden, Rupert Resources, and others.
    The Radai team will deploy a fixed-wing autonomous aircraft using a fluxgate sensor to measure total magnetic field. The aircraft will operate at an altitude of 40 metres with flight line spacing of 50 metres in order to achieve high resolution. The detailed magnetic data will facilitate a careful analysis of bedrock geology beneath the glacial sediments, including faulting, folding, and alteration that may be important indications of gold mineralization.
    Excavator Trenching and Sampling
    FireFox has also mobilized teams to Lapland for a trenching program that is expected to last for at least two weeks. Since most of Lapland is covered by glacial sediments of varying thickness, trenching is an excellent tool for exploration where an excavator can reach bedrock by removing glacial sediments and other regolith. The teams will first target the gold anomalies at Jeesiö where geologists collected numerous rock samples in 2018 and 2019 containing up to 6.4 grams per tonne (g/t) of gold (refer to News Releases filed on SEDAR, in particular that dated January 23, 2020).
    T he machine will also travel to the Mustajärvi Project, where FireFox has previously reported high-grade gold in boulders, channel samples, and in core drilling at shallow depths below surface (See 43-101 Technical Report on SEDAR, as well as Company news releases dated January 3 and 21, 2019). The Phase 1 drill program in late 2018 followed from a small drill program on the property by Outokumpu in the 1990's. FireFox identified a different style of mineralization that included narrow intervals of massive to semi-massive pyrite and grades up to 45 g/t over 2.0 metres from 125.5 metres downhole. The mineralization is believed to be related to the northeast trending Venejoki Thrust Zone, which is a splay of the well-known Sirkka Shear Zone, but there appear to be important cross structures that are not well understood. New trenches at Mustajärvi will enable collection of extensive structural geology data and detail ed sampling of key structures, alteration, and host rocks.
    The extent of the trenching program could expand based on the mapping and sampling work that is already underway. The Company expects the trenching to include hundreds of metres of excavation and sampling in areas with anomalous rock and till geochemistry, or where geophysics or drilling indicate important near-surface features of interest.
    Prospecting, Mapping, and Sampling
    Other activities already in progress include a 2-month mapping and sampling program concentrated in the Jeesiö and Sarvi exploration areas. FireFox's land holdings are extensive and outcrop is sparse, so reconnaissance mapping during the summer season is important to identify outcrop and update geological maps. Some of the last field expeditions in 2019 turned up highly anomalous gold samples, such as the 6.4 g/t sample at the Katajavaara Target on the Jeesiö Project. The teams will be following up on these emergi ng targets, as well as pushing into new areas, such as prospective greenfield areas in the newly acquired Naula and Lehto exploration reservations. The vast historical databases in Finland offer huge potential. A component of this program will be to apply modern assay and ultra-trace geochemical methods to historical till samples acquired by the Geological Survey of Finland (GTK).
    The Naula reservation covers approximately 21,820 hectares and is located in the western part of the CLGB along the northeast continuation of major crustal-scale structures from the historical Saattopora Gold Mine. The Lehto exploration permit application area (494 hectares) is located closer to FireFox's other properties in the eastern end of the belt, approximately 27 kilometres southeast from the Agnico Eagle's Kittilä Mine. The Lehto property occurs within the Kittilä Group volcano-sedimentary sequence, which also ho sts the Kittila Mine. Regional geologic maps suggest that the underlying bedrock is dominated by mafic volcanics, including iron tholeiites, graphitic tuffs, and banded iron formation along NS-trending structures. [ FireFox cautions that proximity or similar geology to an active or past-producing 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 result in an economic extraction scenario. These facts were simply used as elements of the prospectivity analysis of these properties.]
    Quality Assurance
    Dr. Petri Peltonen, Exploration Manager of FireFox Gold, is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Dr. Peltonen has supervised the collection and interpretation of the technical data generated in the Company's field program and has helped prepare, and approves, the technical information in this news release.
    Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702) and director of the Company, is a qualified person as defined by National Instrument 43-101. Mr. Highsmith has helped prepare, and approves, the technical information in this news release.
    About FireFox Gold Corp.
    FireFox Gold Corp is listed on the TSX Venture stock exchange under the ticker symbol FFOX. The Company is focused entirely on gold exploration in Finland where it is exploring its project portfolio that includes over 150,000 hectares of prospective ground.
    Finland is one of the top mining investment jurisdictions in the world as indicated by its multiple top-10 rankings in recent Fraser Institute Surveys of Mining Companies. Having a strong mining law and long mining tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and FireFox is proud to have a Finland based CEO and technical team.

  • Firefox Gold Corp. (FFOX)

    Jetzt hat Firefox genügend Geld eingesammelt, um die interessanten Zonen zu testen!

    Firefox Gold completes private placement for $2-million



    2020-07-02 17:47 ET - News Release


    Mr. Carl Lofberg reports
    FIREFOX GOLD COMPLETES $2 MILLION NON-BROKERED PRIVATE PLACEMENT
    Firefox Gold Corp. has completed the second and final tranche of the non-brokered private placement announced on June 11, 2020, and upsized on June 25, 2020. As a result of significant interest in Firefox's projects, the company created an opportunity to bring on several new shareholders of significant size, resulting in a private placement that has been substantially oversubscribed. In completing the second tranche, Firefox has increased the total gross proceeds of the private placement to $2-million.
    In this final tranche, the company raised gross proceeds of $927,500 by issuing 9,275,000 units of the company at a purchase price of 10 cents per unit. Each unit consists of one common share of the company and one-half of one common share purchase warrant, with each whole warrant being exercisable to acquire one additional common share of the company at an exercise price of 12 cents per share for a term of two years from the date of issuance. The shares issued pursuant to the private placement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
    The company intends to use the proceeds of the private placement for general corporate purposes, working capital and exploration activities on Firefox's gold exploration properties in Finland.
    M Partners Inc. acted as a finder in this placement. In total, over both tranches the company will pay to qualified finders $97,300 in cash finders' fees and will issue 973,000 finders' warrants exercisable at 10 cents for two years from the date of issuance.
    About Firefox Gold Corp.
    Firefox Gold is focused entirely on gold exploration in Finland.

  • Rupert Resources / RUP (TSE)

    Rupert Resources schneidet 15,2 g/t Gold über 13 m


    09:01 Uhr | Minenportal.de
    [Blockierte Grafik: https://www.goldseiten.de/bilder/thumbnails/144x144_max/bilder_minen_logos_2664.png]
    Rupert Resources Ltd. veröffentlichte gestern neue Ergebnisse des weiterhin andauernden Explorationsprogramms bei seinem zu 100% eigenen Pahtavaara-Projekt im Central Lapland Greenstone Belt in Nordfinnland. Den Angaben zufolge konnte die jüngst entdeckte Ikkari-Zone durch die neuen Bohrungen erweitert werden.



    Das Bohrloch 120059 schnitt 15,2 g/t Gold über 13 m, darin fanden sich 36,6 g/t über 5 m und 162 g/t über 1 m.



    Das Bohrloch 120061 schnitt mehrere mineralisierte Zonen. Der höchste Gehalt war 4,1 g/t Au über 47 m ab 273 m; darin fanden sich Abschnitte von 11,9 g/t über 13 m und 107 g/t über 1 m.

  • Firefox Gold Corp. (FFOX)

    Nach dem Rupert Resources ausgezeichnete Bohrresultate veröffentlicht, entdecken mehr und mehr Investoren Firefox!

    Firefox increases placement, closes first tranche



    2020-06-25 20:31 ET - News Release


    Mr. Carl Lofberg reports
    FIREFOX GOLD SIGNIFICANTLY INCREASES SIZE OF NON-BROKERED PRIVATE PLACEMENT
    Firefox Gold Corp., effective today, subject to regulatory acceptance, has completed the first tranche of the non-brokered private placement announced on June 11, 2020. The private placement has been substantially oversubscribed. The company intends to complete a second tranche of the private placement before July 1, 2020, which is expected to increase the total gross proceeds of the private placement to approximately $1,572,500.
    In this first tranche, the company will have raised total gross proceeds of $1,072,500 by issuing 10,725,000 units of the company at a purchase price of 10 cents per unit. Each unit consists of one common share of the company and one-half of one common share purchase warrant, with each whole warrant being exercisable to acquire one additional common share of the company at an exercise price of 12 cents per share for a term of two years from the date of issuance. The shares issued pursuant to the private placement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
    The company intends to use the proceeds of the private placement for general corporate purposes, working capital and exploration activities on Firefox's gold exploration properties in Finland.
    M Partners Inc. acted as a finder in this placement. In association with this tranche of the financing, subject to TSX Venture Exchange acceptance, the company will pay to qualified finders $18,725 in cash finders' fees and will issue 187,250 finders' warrants exercisable at 10 cents for two years from the date of issuance.
    About Firefox Gold Corp.
    Firefox Gold is listed on the TSX Venture Exchange under the ticker symbol FFOX. The company is focused entirely on gold exploration in Finland where it is exploring its project portfolio that includes over 150,000 hectares of prospective ground.
    We seek Safe Harbor.
    © 2020 Canjex Publishing Ltd. All rights reserved.

  • Firefox Gold Corp. (FFOX)

    FireFox Gold Provides Exploration Update on Seuru and Jeesiö Projects


    VANCOUVER, BC, June 9, 2020 /CNW/ - FireFox Gold Corp. ("FireFox" or the "Company") is pleased to provide an update on its 2020 exploration plans in the Central Lapland Greenstone Belt (CLGB) of Finland. Based on favorable results from the summer of 2019 and recent emerging discoveries on neighbouring properties, the FireFox technical team intends to focus its activities on portions of the Seuru and Jeesiö properties during the summer field season.
    At Seuru, the FireFox team plans to carry out its first detailed program at the Sarvilehto target area. Geologists will conduct reconnaissance mapping and sampling, and contract a detailed airborne magnetic survey using an unmanned aerial vehicle (UAV). The new magnetics data will provide improved understanding of the structural setting and bedrock geology. The team will use the integrated database to design a detailed bottom-of-till (BOT) sampling program targeting prospective structures. Depending upon results of the summer field work, FireFox will likely conduct BOT sampling during the early winter to define drill targets for later diamond drilling.
    At the Jeesiö Project, FireFox will be focusing on the newly discovered Katajavaara Target where field teams collected a 6.4 g/t gold sample on one of the last traverses of the 2019 summer season (See Company news release dated January 23, 2020). The 2020 program plans include a detailed airborne UAV magnetic survey to supplement the small ground magnetics survey conducted in 2019. Trenching by excavator may be completed in the summer program, based on results from follow-up mapping and sampling. Drilling of priority targets would then follow in a 2020-2021 winter program.
    Sarvilehto Target, Seuru Property
    The Sarvilehto Target is one of the southernmost prospects in the extensive Seuru group of properties. Sarvilehto is located approximately 5 kilometres north of the Sirkka Shear Zone (SSZ) – the well characterized south-dipping imbricate thrust stack that stretches from northwest to southeast across the CLGB for more than 100 kilometres. The SSZ is closely associated with multiple gold deposits, occurrences, and exploration prospects.
    FireFox acquired the Sarvilehto Target based on its favorable geological setting, gold anomalies in historic till sampling, and interpreted prospective northeast trending structures. The area is largely covered by mixed glacial deposits, but an interpretive geological map from the Geological Survey of Finland (GTK) and limited sampling have provided significant information about the bedrock. The interpreted geology at Sarvilehto consists mainly of the mafic metavolcanic rocks of the Kittilä Suite, which include extensive tholeiitic and Fe-tholeiitic meta-basalt. These mafic volcanic rocks are intercalated with graphite-bearing tuffite, black shale, and chert. A very similar lithological sequence hosts the world-class Kittilä Mine, which lies 35 kilometres northwest and is operated by Agnico Eagle.
    The Kittilä rocks on the Sarvilehto Property are crosscut by northeast trending shear zones that are interpreted to be associated with younger strike-slip movement, sometimes referred to as the D3 event (or the third major deformation event in the region). These D3 structures are often associated with gold mineralization, particularly where they change orientation or intersect earlier major faults such as the SSZ or associated structures. For example, the Kittilä Mine occurs at a slight bend of a major D3 shear – the Kiistala Shear Zone1. In addition, recent drilling by Rupert Resources at its Area 1 target (approximately 1.5-3.5 kilometres south of Sarvilehto) has targeted D3 structures and their intersections with earlier regional structures (see Rupert Resources news release dated May 12, 2020).
    [Although the geological setting on the adjacent Rupert Resources property provides geologic context for the Sarvilehto Property, it is not necessarily indicative of the geology or mineralization that may occur on the Company's property.]
    The Sarvilehto Target has seen minimal exploration work so far. Altogether, the GTK and FireFox have collected approximately 155 till samples on the property using light portable percussion drills. The analyses of those samples have yielded moderate gold anomalies, which are associated with elevated values of important pathfinder elements such as arsenic, bismuth, tellurium, and copper. FireFox geologists have also conducted heavy mineral sampling and detailed morphological characterization of gold grains at Sarvilehto. A 10-kilogram heavy mineral sample yielded 118 gold "micronuggets" and associated anomalous arsenic, bismuth, and tellurium. The gold grains were angular and showed no significant abrasion, suggesting short glacial transport distances from their source. Importantly, this particular sample was collected directly on top of an interpreted northeast striking D3 structure.
    The Sarvilehto Prospect is part of the Seuru option agreement under which FireFox is earning 100% interest from Magnus Minerals (See Company news release dated August 30, 2018), but the Seuru group of properties includes other tenements that are 100% owned by FireFox.
    Katajavaara Target, Jeesiö Project
    Katajavaara occurs south of the SSZ and approximately 9 kilometres south of FireFox's Utsamo Target. As reported in April, this part of the Jeesiö Project occupies the middle of a corridor of almost continuous gold anomalies stretching from the Risti Target (Aurion Resources) in the north down through Utsamo and Aurion's Launi Target to Katajavaara in the south.
    The Venejoki Thrust Zone (VTZ), a major D2 shear zone, is interpreted to cross the area from northwest to southeast at Katajavaara. The target appears to occupy a structural intersection of the VTZ with an interpreted north-south oriented D3 structure.
    At Katajavaara, FireFox geologists collected anomalous gold rock samples along a north-south trend stretching more than 1 kilometre and open in all directions. Anomalous rock chip samples in the area are often associated with the margins of gabbroic intrusions, which often appear as magnetic highs. There is significant topographic relief in the area and glacial cover deposits are thin. In fact, the highest-grade rock chip sample (6.4 g/t Au) was collected from an outcropping quartz-sulphide-carbonate vein.
    The Jeesiö Project includes properties that are subject to an option agreement under which FireFox is earning 100% interest from Magnus Minerals (See Company news release dated August 1, 2017) as well as separate properties that are 100% owned by FireFox, such as the Katajavaara prospect.
    Quality Assurance
    Dr. Petri Peltonen, Exploration Manager of FireFox Gold, is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Dr. Peltonen has supervised the collection and interpretation of the technical data generated in the Company's field program and has helped prepare and approves the technical information in this news release.
    Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702) and director of the Company, is a qualified person as defined by National Instrument 43-101. Mr. Highsmith has helped prepare and approves the technical information in this news release.
    About FireFox Gold Corp.
    FireFox Gold Corp is listed on the TSX Venture stock exchange under the ticker symbol FFOX. The Company is focused entirely on gold exploration in Finland where it is exploring its project portfolio that includes over 150,000 hectares of prospective ground.
    Finland is one of the top mining investment jurisdictions in the world as indicated by its multiple top-10 rankings in recent Fraser Institute Surveys of Mining Companies. Having a strong mining law and long mining tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and FireFox is proud to have a Finland based CEO and technical team

  • Firefox Gold Corp. (FFOX)

    Der Nachbar von Firefox hatte ein nettes Bohrloch!!



    Rupert drills 137.2 m of 1.8 g/t Au at Pahtavaara



    2020-05-12 09:14 ET - News Release


    Mr. James Withall reports
    RUPERT RESOURCES DRILLS 137M GRADING 1.8G/T GOLD FROM SURFACE AT NEW AREA 1 DISCOVERY
    Rupert Resources Ltd. has released results from its continuing exploration program at the 100-per-cent-owned Pahtavaara project in the Central Lapland greenstone belt, Finland.
    The company has drilled a significant gold-hosting structural zone at a newly identified target, called Ikkari. The target was identified using base-of-till sampling at Area 1, a five-kilometre-long, highly prospective section of a regional domain-bounding structure, 20 kilometres of which are contained within Rupert's contiguous landholding.
    Highlights
    The Ikkari target is a linear anomaly extending over 500 m of strike in base-of-till sampling. The first two drill holes into the target are located 100 metres apart:

    1. Hole 120042 intersected 137.2 m grading 1.8 grams per tonne gold from 10.8 m, the base-of-till surface, including 7.1 g/t gold over 14 m from 23 m and 10.6 g/t over three m from 27 m.
    2. Hole 120038 intersected 54 m grading 1.5 g/t gold from 25 m, including 4.7 g/t over one m from 35 m, 5.2 g/t over two m from 65 m and 5.7 g/t over one m from 71 m.

    James Withall, chief executive officer of Rupert Resources, commented: "These first two holes at Ikkari are the most significant intersections of our regional exploration program to date, showing continuity of grade across a broad shear zone structure. So far, we have only drilled 100 m of the interpreted strike; the base-of-till anomaly has a strike extent over 500 m, and this is limited only by the current extent of our sampling. Our recent Saitta discovery is proximal to the same regional structure five km to the east. Rupert's exploration team have demonstrated yet again the success of their systematic approach to exploration, delivering a sixth new discovery in just over 12 months."

  • Firefox Gold Corp. (FFOX)

    FireFox Gold Amends Property Option Agreements


    Canada NewsWire
    VANCOUVER, May 15, 2020
    VANCOUVER, May 15, 2020 /CNW/ - FireFox Gold Corp. ("FireFox" or the "Company") is pleased to report that it has signed amendments to its property option agreements with Magnus Minerals Ltd., ("Magnus") that defer and extend the schedule of both exploration obligations and cash payments. The amendments cover the Jeesiö, Riikonkoski, Ylöjärvi and Seuru properties, and include extensions to the schedules by up to one year from their original dates.
    FireFox Chairman Patrick Highsmith commented, "From the outset, our agreements with Magnus were structured with minimal cash payments and a clear focus on money into the ground, as both companies agreed that is the best path to discovery and value. By providing additional flexibility in the timing, Magnus continues to demonstrate its commitment to FireFox's success in Finland. The amended terms help ensure the security of our project tenure even during these challenging times, while we proceed with planning our field work for the 2020 summer field season.Management is based in Finland and is attentive to the health, safety, and logistical requirements imposed by the COVID-19 situation."
    Through the execution of superseding amendments to the option agreements, FireFox and Magnus have extended the interim deadlines by which certain exploration expenditure and cash payments are to be made.
    An important result of the amendments is that FireFox has extended the term by one year for the final earn-in expenditures and cash payments to execute its option on the Riikonkoski, Jeesiö, and Ylöjärvi (RJY) properties. The Company now has until August 31, 2021 to invest $485,000 in exploration on the RJY properties, and the final cash payments to Magnus over that period will now occur as follows:
    a) $60,000 on or before August 31, 2020;
    b) $50,000 on or before February 28, 2021; and
    c) $50,000 on or before August 31, 2021.
    In addition, the amendments push back the milestones by six months for earn-in exploration works and cash payments on the Seuru group of properties. In order to complete its vesting in 100% interest in the Seuru Properties, the Company will now be required to invest a further $1.305 million in exploration work by October 5, 2021, including $305,000 by October 5, 2020. The cash payment schedule has also been pushed back, resulting in $50,000 payments to Magnus being due on October 5, 2020 and October 5, 2021.
    The parties have confirmed that FireFox's option agreements are in good standing. Fieldwork is expected to resume on the RJY and Seuru properties during summer of 2020.
    About FireFox Gold Corp.
    FireFox Gold Corp is listed on the TSX Venture stock exchange under the ticker symbol FFOX. The Company is focused entirely on gold exploration in Finland where it is exploring its project portfolio that includes over 150,000 hectares of prospective ground.
    Finland is one of the top mining investment jurisdictions in the world as indicated by its multiple top-10 rankings in recent Fraser Institute Surveys of Mining Companies. Having a strong mining law and long mining tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and FireFox is proud to have a Finland based CEO and technical team.