FireFox Gold Identifies Potential Gold-Hosting Structures at Naula Project in Lapland, Finland

SODANKYLÄ, FINLAND / ACCESSWIRE / August 9, 2022 / FireFox Gold Corp. (TSX.V:FFOX)(OTCQB:FFOXF)("FireFox" or the "Company") is pleased to report that it has completed a detailed airborne magnetic survey over its 100% controlled Naula Project in Lapland, Finland. Naula is a new project for the Company, lying in the western portion of the Central Lapland Greenstone Belt (CLGB), approximately 13 kilometres west of the town of Sirkka and 28 kilometres northwest from the town of Kittilä (Figure 1). FireFox has identified several strong targets at Naula and has applied for exploration permits covering approximately 26 km².

The FireFox technical team collaborated with GoldSpot Discoveries Corp. ("GoldSpot")(TSX.V: SPOT.V) in the interpretation and evaluation of the new survey. Interpretation of the survey data has considerably upgraded FireFox's understanding of the geology at Naula, which had been based on widely spaced government magnetics surveys and limited work by others in the area. The data appear to indicate the presence of at least two significant NNE-SSW striking structures that had not been previously mapped. If confirmed, such structures can be highly prospective for gold in Lapland. Flexures in the major structures and their intersections with other faults are high priority targets for follow-up exploration.

Carl Löfberg, FireFox's President and CEO, commented about the progress at the Naula project, "This new geophysics bolsters our belief in the potential for gold discovery at this property. Applying new technology in geophysics and data processing has identified a structural setting that we believe to be analogous to that hosting the Kittilä gold deposit, which is less than 40 kilometres away from the project. The property is large and at a very early stage, but we are excited about the opportunity presented by the hard work to come. We expect Naula to be our sixth permitted project in Lapland during 2023."

FireFox is currently formulating plans for a till sampling program over the newly identified structural targets. Coincident anomalies in geophysics and till sampling are common drivers of drill targeting in the search for gold in Lapland.

Project and Program Details

The Naula Project is located in the western portion of the CLGB, just north of the Sirkka Shear Zone (SSZ). The geology of the area is comprised of the Kittilä suite volcanics, which is dominated by tholeiitic mafic flows and graphite bearing mafic tuffites. This volcanic complex is host to Agnico Eagle's Kittilä gold mine, located 37 kilometres to the east-northeast. The southern boundary of the project area is located less than 2.5 kilometers north from the SSZ, which hosts the nearby historic Saattopora gold mine and numerous other gold deposits.