Tag: FireFox Gold Corp.

FireFox Gold announced the discovery of a new gold target “Katajavaara”, at the company’s Jeesiö Gold Project (100% owned) in the Central Lapland Greenstone Belt, Finland. The target is adjacent to Aurion’s (TSXV:AU, FV est. C$3.25/sh) Launi project and could have the potential to house similar gold-bearing quartz-sulphide veining. FireFox has a large district land package of 80,000 ha, which we believe is not currently reflected by the company’s share price. We believe exploration success by either FireFox or Aurion (FireFox’s neighbour) should drive Firefox’s share price higher.

FireFox Gold announced the completion of its Phase 2 exploration program at its 100% owned Mustajarvi Gold Project in the Lapland Greenstone Belt, Finland. Drilling expanded the mineralized footprint of the target but did not yield additional economic grades. In our opinion, the current pricing of FireFox does not reflect the scale of the company’s prospective 80,000 ha land package within the CLGB and the stock should re-rate on positive drill results.

FireFox Gold announced the first batch of assays (five out of nine holes, ~1,500m in total) from its phase 2 diamond drilling program at its 100%-owned Mustajärvi Gold project in the Central Lapland Greenstone Belt (CLGB), Finland. We view these results positively and believe they show both the scale and continuity of the system at Mustajärvi. In our opinion, the current pricing of FireFox does not reflect the potential of the company’s highly prospective 80,000 ha land package within the CLGB and the stock should re-rate on positive drill results.

Impact: Mildly Positive

FireFox provided an update on its ongoing summer field program at its Jeesio project in Finland. The company is testing it’s Utsamo target, which sits between Aurion’s Risti and Launi gold projects. Work to date at Utsamo suggests it hosts the major regional structure associated with local gold deposits. Upcoming activities include further sampling/mapping and detailed IP to define targets ahead of drilling. While early days at Jeesio, results to date are encouraging and further updates hinting at exploration success could drive a significant re-rating of this discounted stock.

Impact: Mildly Positive

Ground magnetic results from FireFox’s Jeesiö project continue to suggest the presence of a large mineralized structural continuation of the Sirkka Shear Zone. We expect systematic drilling at Mustajärvi could initiate a chain of potential discoveries across FireFox’s large, prospective land package.

Impact: Mildly Positive

Phase I of drilling at FireFox’s Mustajärvi project successfully intersected high grade gold both at depth and along strike of the known mineralized structure warranting further follow-up as the company moves in to Phase II of drilling. We have a fair value estimate of C$0.63/share for FireFox’s Finnish project and we expect Phase II at Mustajärvi to offer evidence of this potential.

Impact: Positive

Phase I of drilling at FireFox’s Mustajärvi project successfully intersected high grade gold at depth and validated historic exploration results near surface. In our recent report on Finland, we outlined FireFox as having a potential value of C$0.63/share contingent on continued exploration success at Mustajärvi. As the company moves in to Phase II of drilling, we view this progress as aligning well with our estimates.