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FireFox Gold Corp.
Summary
| Project: | Mustajarvi | |
|---|---|---|
| Deposit: | Mustajarvi | |
| Location: | Finland | |
| Commodities: | Gold | |
| Date: | 11/27/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 27-11-2018: FireFox Gold Corp. announces a Supporting Acquisition report for its Mustajarvi deposit at the Mustajarvi project. Amended summary of property. The Mustajärvi property (“Mustajärvi”) consists of a single exploration permit which covers 146.53 | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Henry Awmack (Equity Exploration Consultants Ltd.) | |
| ABSTRACT: | The Mustajärvi property (“Mustajärvi”) consists of a single exploration permit which covers 146.53 hectares (1.47 km2) of flat, glacial till-covered terrain in the Lapland region of northern Finland, 17 km east of Kittilä. A high-voltage power-line and Highway 80, which runs between the towns of Kittilä and Sodankylä, pass through the northern part of the property. Two modern gold and base metal mines are in production in this part of Finland, supporting an infrastructure of mining and exploration services and supplies in the area. The region experiences a continental-style climate with cold winters and warm summers; drilling can be carried out year-round with the exception of spring thaw from mid-April through May. Firefox Gold Corp. (“Firefox”) owns 100% of the Mustajärvi exploration permit, subject to a 1% NSR royalty payable to Aurora Exploration Oy (“Aurora”), half of which can be purchased for US$ 500,000. The gold potential of the Mustajärvi property was first recognized in a late 1980’s governmental till survey. From 1990-1992, Outokompu Oy (“Outokompu”) carried out till, magnetic and induced polarization (“IP”) surveys on the Mustajärvi prospect, following up with trenching and diamond drilling. They drilled 12 short core holes (706.0 m) to test favourable top-of-bedrock (“TOB”) and trench results. All but one of their holes intersected intervals grading >1 g/t Au but Outokompu allowed their mineral tenure to lapse in 1995. No significant exploration was reported at Mustajärvi until Firefox carried out property-wide magnetic surveying and base-of-till (“BOT”) sampling and initiated an IP survey in 2018. The Mustajärvi property is located within the Central Lapland Greenstone Belt (“CLGB”), a poorlyexplored package of Paleoproterozoic mafic volcanic and sedimentary rocks which underwent three ductile compressional events around 1.79-1.92 Ga followed by one or more brittle stages. The earliest two phases of ductile compression produced thrust faults, the most important of which are the Sirkka (“STZ”) and Venejoki (“VTZ”) thrust zones, both of which have been traced for >100 km. The third phase of ductile compression (D3) produced NE-striking strike-slip shear zones and reactivated or displaced the earlier thrusts. Orogenic gold occurrences in the CLGB are associated with the STZ, the VTZ and the D3 shear zones. Suurikuusikko (Agnico Eagle Mines Limited’s (“Agnico Eagle) Kittila mine), with current mineral reserves of 4.1 Moz Au and the most significant gold deposit found to date within the CLGB, is related to one of these NE-striking D3 shear zones. The author has been unable to verify information concerning Suurikuusikko and the information is not necessarily indicative of the mineralization at Mustajärvi. | |
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