|
Dear Fellow Investor,
Considering their dominant position in a massive gold belt, you would think that this relatively unknown gold explorer had found a way to go back in time.
That’s because you simply don’t lock up this much of an entire greenstone belt in this modern age — the type of greenstone belt known for hosting tens of millions of ounces in dozens of gold deposits.
That’s just too much for one little company to own, right?
Wrong. Because tiny FireFox Gold Corp (FFOX.V) is one of only five exploration companies that essentially control the entire Central Lapland Greenstone Belt (CLGB) in northern Finland.
Why is that impressive? The CLGB is the same size as the Abitibi Greenstone Belt, but is comparatively unexplored.
The current situation is really the best of all worlds: while the CLGB is proven to host world-class gold resources, with 9.1 million ounces of gold discovered to date, this total remains just a small fraction of what’s been found so far in the Abitibi.
Geologically, the greenstone belts are very similar, and experts confirm there is no reason why the CLGB should not host comparable gold resources.
Like Going Back In Time...
So why does this opportunity with the CLGB still exist?
The answer is simple: It’s underexplored for gold.
Let’s put it into perspective: In 2005 Newmont drilled more for gold in one year in Nevada alone than has EVER been spent on gold drilling in the history of the CLGB.
A 2015 Finnish study of the potential of the CLGB even suggested that there could be as much as 30 times the currently known gold resources.
And here’s the clincher: FireFox controls about 500 square kilometers in the CLGB.
The company has prioritized its Mustajärvi and Jeesiö projects and has been busy refining drill targets at both projects for programs this fall.
Mustajärvi presents the interesting case of historic work that has been re-interpreted. It was here that the first FireFox drill program completed earlier this year discovered an exciting new style of mineralization and hit grades as high as 45 g/t gold over 2 meters, including 0.5 meters grading 73.7 g/t gold.
Phase 2 drilling is just starting at this project and results are expected by November.
At Jeesiö, the Utsamo target has emerged as the next exciting story. FireFox has identified anomalous mineralization at Utsamo associated with what it believes is part of the Sirkka Shear zone. This shear zone is an area of deformity in the earth’s crust that runs nearly the length of the CLGB and provides a control for most of the currently known gold deposits in Central Lapland.
The prospectivity of the Utsamo target is highlighted by its position situated between two recent new gold discoveries by Aurion Resources.
The Aurion projects include a gold-bearing quartz vein system less than two kilometers to the south-southeast, where boulders and surface samples assayed as high as 74 g/t gold and 379 g/t gold, and a second system less than three kilometers to the northwest where recent drilling is confirming high-grade intervals on the Risti property.
Aurion’s early success at Risti has provided most of the focus on Finland, and they have been rewarded in the market. Aurion’s market capitalization is now $138 million.
FireFox is planning a drill program to test the Utsamo target in October.
FireFox went public in December 2018 and their current market capitalization is just C$6.2 million. With the company’s competitive land position, success with the drill bit could set FireFox on a similar path to Aurion.
An Excellent Jurisdiction
Even with its under-explored nature, the CLGB isn’t a “frontier environment” by any means.
Relatively few investors are aware that Finland was ranked as the No. 1 jurisdiction in the world for mining investment attractiveness in 2017, and it remains in the top 10 on the list of favorable jurisdictions in which to work.
Some of the highlights include extraordinary infrastructure — even in the far north, the access is excellent. The mining and environmental legislation is said to be strict, but provides a clear path to development, particularly for those familiar with the system.
The Competitive Advantage Of A Strong Team
One of FireFox’s advantages is its mainly in-country team of both technical and management personnel. This allows the group to be nimble and successful in property acquisitions, permitting, accessing government-hosted technical data and negotiating suppliers.
FireFox CEO Carl Löfberg has a strong background in economics and managed a leading prospect generator company in Finland since 2006.
Dr. Petri Peltonen is the Exploration Manager for FireFox and also a Professor of Economic Geology at the University of Helsinki, with over 25 years experience in exploration and mining for a variety of commodities. Company Director Timo Mäki is a highly experienced mine geologist credited with two zinc discoveries while working as Chief Geologist for First Quantum. Dr. Alf Bjorklund is a former chief geochemist for the Geological Survey of Finland and now serves as a technical advisor to the Company.
The Finnish expertise is further bolstered by a highly capable management team with international success in exploration, development and capital markets.
Ripe for Discovery
As noted above, FireFox is drilling at this very moment and will complete two exciting drill programs over the coming weeks. Results will be out in a relative flash, and either or both programs could quickly set the company on a path similar to Aurion’s tremendous success.
Don’t look back next year and wish you had a time machine to take you back to when you first read about this opportunity. Follow the link below to learn more about this exciting emerging story.
CLICK HERE
To Discover More Exciting Details
On FireFox Gold
|
