Firefox Gold (FFOX.V) has received the assay results of the first five holes it drilled on its Mustajarvi gold project in the Central Lapland Greenstone Belt.
Holes 1, 2 and 4 were designed to follow up on the high-grade result Firefox encountered last year (with the 2 meters of 45 g/t gold which was announced in January of this year) as the holes were aiming to follow the veins further down dip and along strike.
Hole 1 was drilled 25 meters down-dip and encountered 0.6 meters of 4.5 g/t gold (at about 142 meters down hole) on top of an anomalous but low-grade interval of 2 meters containing 0.33 g/t gold a little bit higher up in the hole. The second hole also intersected two distinct gold layers with 1 meter of 0.64 g/t gold and just over half a meter of 1.27 g/t gold 25 meters west of the high-grade discovery hole while hole 4, which was drilled 25 meters to the east, contained 1.9 meters of 1.06 g/t gold. So all three holes that were designed to follow up on the high-grade hit of last year did encounter gold mineralization but Firefox will have to chase the economic-grade mineralization.
The other two holes Firefox reported on are also very interesting as they were drilled approximately 500 meters towards the northeast of the Central Zone at Mustajarvi. The two holes were targeting the extent of the shear zone that does control the mineralization at the Central Zone and although hole 5 contained just 2 meters of 0.9 g/t gold, hole 6 appears to be another very interesting zone as the drill bit returned 1.95 meters of 12 g/t gold in what Firefox describes as ‘massive tourmaline-quartz-pyrite veining’. An excellent result, and Firefox has indicated future drill programs will drill-test this step-out hole to figure out its total extent.
Disclosure: The author has a long position in Firefox Gold. Firefox is a sponsor of the website.