Star Metro - FireFox Gold Reports Second Best Intercept Ever at Mustajärvi Project: New Target Between Northeast and East Zone Returns 7.6 Metres at 32.25 g/t Gold with Visible Gold

Hole 25MJ012 passed through two highly mineralized intervals of intensely altered and veined metasedimentary rocks separated by a weakly altered mafic dike. The two intervals are summarized below:

• 9.5 metres at 4.82 g/t gold from 159.4 metres depth, including

  • 2.6 metres at 15.87 g/t gold; and

• 7.6 metres at 32.25 g/t gold from 172.0 metres depth, including

  • 0.8 metres at 188.5 g/t gold

The Company notes that only one intercept in the project's history, from drillhole 22MJ006 (13.85 metres at 28.74 g/t gold) exceeded this result from 25MJ012 when comparing grade-thickness of a mineralized interval (gold grade in g/t * thickness in metres) (See Company news releases dated July 13 and September 6, 2022).

The high-grade gold in 25MJ012 supports the interpretation that mineralization could extend between the Northeast and East zones, potentially increasing the mineralized footprint to roughly 1.1 kilometres in the E-W direction. In addition, this new gold mineralized interval appears to tie into an interpreted NNW-SSE trending cross-structure that connects with the Triangle Target 500 metres to the northwest (See Figure 1).

Carl Löfberg, FireFox's CEO, commented about the new results, "By confirming significant high-grade mineralization in 25MJ012 between what we call the East and Northeast Zones, we can more clearly envision the potential to bring the zones together into a single gold zone spanning more than a kilometre. The geophysics and structural setting in this target area suggest there is a lot of room to build from this intercept. The surface gold results from the undrilled Triangle Target are more than 500 metres away from this intercept along an apparent fault zone. We look forward to more drilling in the area as we continue working towards an expected maiden resource estimate at the project."

Each of the other three holes released today encountered significant gold mineralization around the East Zone. Drill holes 25MJ013 and 25MJ015 extended the East Zone to the northeast with intercepts such as 2.0 metres averaging 12.56 g/t gold from 8.0 metres downhole (25MJ015), 5.0 metres of 1.16 g/t gold from 62.0 metres downhole (25MJ015), and 0.9 metres of 3.41 g/t gold from 100.5 metres downhole (25MJ013). Drill hole 25MJ014 also hit lower grade mineralization (4.2 metres at 0.77 g/t gold) in a previously undrilled gap to the northwest of the East Zone.

This work is part of the ongoing diamond drill program at Mustajärvi, which is expected to exceed 10,000 metres before the end of spring 2026. The program mixes infill and step-out drilling at existing mineralized zones and tests some new targets both proximal and distal to the main mineralized structures. The team has now completed the first two rounds of drilling, including 30 drill holes totalling 7,662.2 metres. Logging of drill core is ongoing, and assays are pending for the remaining 15 drill holes. The third round of drilling is expected to commence by mid-March 2026.

Figure 1. Drill Holes 25MJ012-25MJ015 at the Mustajärvi Project, Northeast and East Zones.

Mustajärvi Project and Drill Program Summary

The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometres east of Kittilä. FireFox and predecessor companies have drilled approximately 15,752 metres prior to commencement of the current program, and drilling has so far delineated three different lodes of gold mineralization along more than two kilometres of strike.

Drill hole 25MJ012 was collared 100 metres NW from the previously reported hole 25MJ005 which intersected 13.75 g/t Au over 12.4 metres (see Company news release dated December 8, 2025). The drill target in this area is a combination of attractive geophysics and an interpreted structural intersection. There is a widespread magnetic low along and south of the projected trace of the Mustajärvi Shear Zone (MSZ). This was the second hole aimed at testing the interpreted NNW-SSE trending structure that bisects the gap between the Northeast and East Zones. Drill hole 25MJ012 was drilled from the opposite direction than previously reported 25MJ010, cutting the target zone at a more favourable angle (see Figure 1).

As in many of the drill holes in the East Zone, this hole encountered multiple stacked gold intervals. At 159.4 metres downhole, the drill passed through 9.5 metres of albite-altered metasedimentary rocks (tuffites) with abundant quartz-carbonate-pyrite and quartz-hematite-pyrite veining, which included significant gold, the drill cut 3.1 metres of altered mafic dike or sill. Beneath the dike, the metasedimentary rocks are again intensely altered and cut by more quartz-hematite and quartz-pyrite-tourmaline veins over 7.2 metres of strongly gold mineralized rocks. Gold grade trails off into less altered rocks after the visible gold interval at 177.8 metres depth (0.8 metres of 188.5 g/t gold)(See Figure 2).

FireFox geologists identified and photographed numerous occurrences of grains of coarse visible gold in two sections of alteration and veining, from 159.60 m to 159.85 m and 178.03 m to 178.30 m, as seen in the examples in Figure 2. In the upper section at 159.9 metres depth, the VG occurs as discrete flakes (up to 0.5mm across) in quartz vein with minor disseminated pyrite and chlorite (green mica) clumps. In the second interval at 178.3 metres depth discrete flakes of VG are a bit larger (up to 1.0mm across) and are spread across the fracture surface of a vuggy textured and oxidised quartz vein with disseminated pyrite (approximately 2-5% pyrite) as shown in Figure 3.

Figure 2. Examples of the visible gold in 25MJ012 within quartz veins at 159.9m and 178.3m downhole.

The upper mineralized intervals described above, which host the VG, are comprised of strongly albite altered and moderately silicified and hematite altered metasediments. Quartz and quartz-carbonate-tourmaline-pyrite (QCTP) veins and vein breccias are associated with the highest grades and VG. Given the high degree of alteration and deformation evident in this drill core, FireFox geologists do not yet have enough information to confirm whether this new high-grade zone is attributable to the Mustajärvi Shear Zone or the crossing structure believed to pass through the area.

However, there are three additional gold-mineralized intervals deeper in the drill hole, which may be associated with cross cutting structures. Most notably, a 1.4 metre zone averaging 4.44 g/t gold from 228.9 metres depth includes intensely brecciated albite-altered metasediments with abundant tourmaline and QCTP veining. The team is still compiling structural information and modelling the mineralized zones in three dimensions.

Figure 3. 25MJ012 core from ~173m to 181.9 m with interval at 178.3m (yellow outline) hosting visible gold flakes.

Drill hole 25MJ013 is the easternmost hole at the East Zone. It was collared approximately 85 metres east of hole 22MJ007, where it was aimed at the projected trace of the MSZ. The new hole intersected three narrow gold-mineralized intervals with grades up to 3.41 g/t gold, indicating the continuation of the mineralized footprint along strike to northeast.

This hole was collared in thin glacial sediments (approximately 6.5 metres deep), overlying ultramafic volcanic rocks. The first gold mineralized interval was intersected immediately after the contact with strongly albite-altered metasediments from 100.5 metres depth and yielded 0.9 metres at 3.41 g/t gold. Gold is associated with patchy pyrite mineralization accompanied by QCTP veining. At 114.0 metres depth, the drill cut another interval that returned 1.0 metre at 3.09 g/t gold, hosted in brecciated and strongly sericite and albite altered metasediments with abundant disseminated pyrite mineralization and quartz veining. These gold-mineralized intervals are again adjacent to a mafic dike, which is a common occurrence in the multiple mineralized horizons at Mustajärvi East.

Drill hole 25MJ014 tested for a northwest extension of the East Zone towards the gap zone tested by 25MJ012. The Mustajärvi Shear Zone likely passes through the area where there is a steep gradient from magnetic high to magnetic low. The hole was collared approximately 100 metres SSW from hole 25MJ011 in strongly deformed, oxidised and pervasively altered metasediments, likely affected by the proximity to the fault zone.

The hole only encountered relatively low-grade mineralization associated with abundant albite and hematite alteration, but the intense alteration suggests a possible near-miss of higher gold grades nearby. From 69.0 metres depth, one interval assays 0.575 g/t gold over 2.0 metres. Another interval from 74.0 metres depth yielded 0.77 g/t gold over 4.2 metres. Interestingly, these gold intercepts were also adjacent to altered but unmineralized mafic dikes.

Drill hole 25MJ015 tested for an eastern extension of near-surface high grade gold mineralization within the East Zone. The hole was collared approximately 38 metres east of surface trench MJT2024-1 which returned 10.1 metres averaging 13.79 g/t gold (See Company news release dated Nov 21, 2024). The hole confirmed an expansion of near-surface high-grade gold mineralization starting immediately beneath the thin glacial sediment cover (approximately 8.0 metres deep) with an interval of 2.0 metres averaging 12.56 g/t gold, including 1.0 metre at 22.7 g/t gold. This mineralized interval just below the glacial cover is hosted in albite-altered and silicified metasediments with abundant quartz veining, brecciation, and pyrite, both disseminated and in clots.

The drill hole continued through another mafic dike, below which a gold mineralized zone occurred from 39.3 metres depth that yielded 1.08 g/t gold over 3.0 metres. The mineralization in this interval is hosted in strongly albite-altered and silicified metasediments with common quartz-carbonate-pyrite veining.

Deeper in the hole at 62.0 metres depth, the drill cut a wider mineralized interval that returned 1.16 g/t gold over 5.0 metres, including 1.0 metre of 3.43 g/t gold. Once again, the gold is hosted in strongly altered metasediments with QCTP veining and disseminated pyrite between mafic dikes.

Notably, this drill hole intersected several more narrow low-grade gold mineralized intervals with grades up to 0.66 g/t gold. Most of the gold intercepts in this hole are associated with the margins of mafic dikes. The ongoing 3D modelling of the Mustajärvi East Zone continues to reveal the importance of certain mafic dikes in localizing fluid flow and concentrating gold grades. These dikes appear to account for some of the repeated stacked gold intervals that contribute to the high grade-thickness of gold mineralization in the East Zone.

Table 1. Selected Drill Intercepts in Drill holes 25MJ012 - 25MJ015
(Cut-off Grade 0.3 g/t Au)

Table 2. Drill Collar Information (coordinates presented in EPSG:3067)

Methodology & Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox's exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. FireFox geologists maintained chain of custody and sampling procedures according to best industry practice and with due attention to quality assurance and quality control, including sampling ¼ core and crush stage duplicates and insertion of certified standard and blank samples.

FireFox team members transported the drill core samples to an ALS sample prep lab in Sodankylä or to the GeoPool Exploration Hub for core cutting. The split drill core samples were then crushed to -2 mm, split and pulverized into 1kg pulps at ALS Sodankylä, before being shipped to the ALS facility in Rosia Montana, Romania for gold by fire assay of 50 gm aliquots with AAS finish (method Au-AA26). All samples exceeding 50.0 g/t Au were re-assayed with a gravimetric finish (method Au-GRA22). Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61) at the ALS facility located in Loughrea, Ireland.

ALS Laboratories is a leading international provider of assay and analytical data to the mining industry. All ALS geochemical hub laboratories, including the Irish facility, are accredited to ISO/IEC 17025:2017 for specific analytical procedures. The Firefox QA/QC program consists of insertion of certificated standard material and blanks inserted by Firefox into the analytical batches did not show deviations from recommended values.

Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702) and director of the Company, is a qualified person as defined by National Instrument 43-101. Mr. Highsmith has helped prepare, reviewed, and approved the technical information in this news release.

About FireFox Gold Corp.

FireFox Gold Corp is listed on the TSX Venture Stock Exchange under the ticker symbol FFOX. FireFox also trades on the OTCQB Venture Market Exchange in the US under the ticker symbol FFOXF. The Company has been exploring for gold in Finland since 2017 on a large portfolio of ground prospective for high-grade gold deposits. The delineation of multiple gold zones at the Company's 100%-held Mustajärvi Project is paving the way for the discovery of Finland's next major gold deposit.

Finland is one of the top mining investment jurisdictions in the world as indicated by its multiple top-10 rankings in recent Fraser Institute Surveys of Mining Companies. Having a strong mining law and long mining tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and FireFox is proud to have a Finland based CEO and technical team.

For more information, please refer to the Company's website and profile on the SEDAR+ website at www.sedarplus.ca.

On behalf of the Board of Directors,

"Carl Löfberg"
Chief Executive Officer

CONTACT:

FireFox Gold Corp.
Email: [email protected]
Telephone: +1-778-938-1994

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of the content of this release.

Forward Looking Statements

The information herein contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include changes in world commodity markets, equity markets, the extent of work stoppage and economic impacts that may result from illness, extreme weather, changes in government and changes to regulations affecting the mining industry.

Forward-looking statements in this release may include statements regarding: the intent to conduct additional exploration; the belief as to the location of the most prospective gold targets; expectations of continuity of mineralization; the location of targets for future exploration programs; the expectation of achieving a maiden mineral resource estimate; and the current and future work program, including the extent and nature of exploration to be conducted in 2026. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary.

The forward-looking statements contained herein represent the expectations of FireFox as of the date of dissemination and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking statements and should not rely upon this information as of any other date. FireFox does not undertake to update this information at any particular time except as required in accordance with applicable laws.

SOURCE: FireFox Gold Corp

View the original press release on ACCESS Newswire

A.Hill--SMC