FireFox Gold - Drill Results At Mustajärvi: 2nd Best Ever Gold Intercept, 7.6 Metres at 32.25 g/t Gold

Hey, everyone. Welcome to the KERF port and a company update from Firefox gold. I am chatting with Patrick

Heismeth chairman and co-founder of Firefox gold. This is a more drill results recap and update as the company has been busy

releasing drill results two rounds of drill results back in January two rounds of drill results in February and the

most recent round from February 25th is where I really want to focus.

I am going to be posting a map of the project or where this drilling has been occurring that came from that last news release.

So you all get an understanding of what Patrick and I are talking to here.

Now Patrick, that most recent news release, the headline says you drilled the second best ever gold intercept

at this Moustierv project. This project is in Finland at the Lapland Greenstone belt.

The number being 7.6 meters of 32.25 grams per ton gold.

Patrick, explain this comparison of the other drilling and now this whole whole 12 please.

Well hello Cory, good to be with you again and thanks for the recap.

Yeah, great news release and you know we put that headline in there in there for a reason.

We've been working on this project really since 2018 Cory,

mostly through bad markets as you well know.

And one of the things we wanted to remind people of is this is a tremendous hole

and on a standalone basis that's 7.6 meters of 32.25 grams.

It's the second best intercept we've drilled in terms of multiplying the meters,

you know the width times the grade. That's the second best intercept we've drilled but in actual fact

it's the fourth best drill hole Cory because what we often see at Moustierv are more than one

highly mineralized interval in a hole. You know often 7, 9 or 10 meters thick or more

and these things stack and they add to the sort of waiting of a drill hole in terms of its

total width of mineralization multiplied times grade. So this hole for instance is a 300 gram

meter hole and we've drilled four of those on this project. We've drilled one hole

that was 410 gram meters of great thickness and we mentioned that in the release because

it also has the first the richest single intercept we've drilled 13.85 meters

of 28.74 grams per ton. I guess it's semantics Cory to differentiate such good holes

but what happens is we did this work in 2022 tough market but not a receptive audience, you know

you can't fight the market that much in this business. And so we put out some great news

our market cap you know sort of languished but importantly Cory we kept the property, we

grew the property, we added tenements, we believed in this property, we added quality shareholders,

we consolidated our shares and most importantly we kept our team together and through those tough

years. And now Miko Ninnan in our expiration manager has just done a tremendous job with this program.

As you mentioned every news release since October when we started announcing has contained

some really positive drill information and this one is a real zinger as it happens whole five

in this program which I think we announced in January maybe or December it was slightly better

in great thickness than this whole 12 but it just had multiple intervals rather than one really

whopping interval. So you know call me a nerd for wanting to differentiate these drills but that's

how we got with that headline. Okay let's look at that map then because this whole 12 is really kind

of in this gap area you have a lot more drilling to the east and a fair bit more drilling to the

west but really the east is where it looks like you have many more holes but then there's also this

whole 10 just to the left just to the west of this whole but that was the news release prior in

February 9th that didn't hit any mineralization can you explain maybe what was going on here

yeah great your keen eye there for news releases Cory and my geo and I were just talking about

making a cross-section to look at those holes because what happened two things first Miko's

managing this program on the fly and there's a paid highway there that you can see that we drilled

under this intercept is directly under the highway which is great but also there's a cabin there

like a vacation cabin and in Finland of course the mineral rights don't belong to the surface

owner but they have rights of course and we have great relationships with our surface owners

so Miko had to locate these holes in a way where we weren't you know too close to his house his cabin

or maybe couldn't drill in his lake on his property so whole 10 was not ideally situated

but we tried to reach that fault if you see the dash line on the map we've interpreted that to be a

fault coming somewhere through there and you can see 500 meters away on that fault some gold on

the north side of that map but down here where we are we set out to drill across that structure not

knowing exactly where it was and it turned out that two things happened one whole 10 ended up sort

of paralleling the fall more than crossing it and so it never hit this zone of bretiation and

things we expect to see when we cross a fall and furthermore because it started to the north

and we're chasing the mineralization which is dipping south and the drill hole is plunging south

so we ended up sort of undercutting the most attractive zone as well Corey depthwise so when we

when we didn't hit strong mineralization in 10 we did feel like we were kind of close and whole

nine nearby did hit Miko went back to the drawing board redesigned a hole to go to the other side of

the highway where we could drill under the gentleman's cabin under the highway and ripped into

this great zone and we're on the right side of the fall and actually a little further down the

we hit the fall so this is kind of above that fall or to the east of that fall and hold 10 just

didn't make it across the fall Corey so it's a geometry problem and good thing for us we had another

at bat as they say in baseball and we were able to to hit a home run after all yeah no kidding what

a different result that is but as I said there's not a whole lot of drilling around this area so

is this going to be a priority as this program continues to drill in let's just call it this gap

zone well we we do call it the gap zone I named the press release narrowing the gap when I first

was naming it and so we went into that hole you can see again if you look at the geophysics there

there's a lot of green color that green color over to the east has meant high grade gold coming to

near surface and so we're happy to be in that that demagnetized zone in the magnetic and it does

open things right up Corey first of all it fills that gap between the northeast and the east zone

implying that if we continue to hit in that zone whether in the shallow portions or the deep

portions of this interval we could end up having a better chance of connecting the east zone and

the northeast zone and that area we've got high grade gold identified for 1.1 kilometers of

strike along this most of your already shears on shown in the heavy dash line there and this does

feel in the gap and it does suggest there's a lot more room around it to drill in that magnetic

low that you see there along the highway and then 500 meters north just follow that dash line

we've got gold coming to surface up there and there is zero drilling before this drill program zero

drilling between where we are and the gold at surface 500 meters away and as you know with

origin at gold I'm always talking about faults and plumbing for the fluids and that's what we think

is is happened here is this corridor has opened up not only along the trend filling in the gap as

you say there's room for more holes there which we will certainly fill in but there's also room

on this crossing structure that heads up to what we call the triangle target further north okay

before we get into that triangle target just a little bit more color there there is a scale bar

at the bottom of this map but explain to us now what you've drilled currently here at this target

what's the strike length and what about the depth component if you're hitting some of these

stack systems what does it look like depth wise yeah what made the east zone important and why

those initial big 300 gram meter holes I mentioned were so important is that mineralization came

practically to surface over there in that cluster of holes you pointed out to the right hand side

of the map and that's own we've been able to I'd confirm does plunge back to the southwest so from

sort of upper right to lower left on that map we chase that gold now and if you measure that

there's over 450 meters of strike length that we've been drilling gold in the east zone so we're

still filling in a little bit on the southern side but the upper right is fairly well filled in as

you can see we added just a bit in these most recent holes over there in hole 13 and hole 15

so a decent result there as well extending the zone out to the upper right so east zone something

like 400 450 meters to find it's I would say broadly speaking Corey we have mineralization from

surface down to a hundred meters a nice load there sitting in the east zone and then down below

about 175 to 250 meters there is a second volume of mineralization on the south side of that east

zone that we've not fully delineated yet that appears to be continuous and to have grade so that

gives us lots of room to drill still on the right hand side of the map to complete that then we had

this gap for a couple of reasons we picked up ground on the south side of this map Corey that shaded

gray area is a new acquisition for us of an exploration reservation which will become a permit

ultimately it isn't right now we can't drill on that ground yet but we hold the ground as an

exploration reservation we have exclusive rights to it so that's good so we didn't drill on the

southern side for that reason but now we filled in that gap and we're going to be able to drill

north to the triangles on and continue to the southwest and there you see hole nine which was a

very nice step out that we did announce earlier in February where we did hit a nice zone indicating

that that northeast zone keeps coming so when you add that up if we're able to continue to connect

you would have a footprint of more than one kilometer about 1.1 or 1.2 kilometers in a

northeast southwest direction and the depth of hole 12 this intercept was from 172 meters down

hole the best part of this intercept that's an angle hole so maybe that's 140 130 meters

vertically below surface and I would say that's kind of a medium depth for mr. RV Corey it looks

like it's kind of between maybe a downed continuation from the stuff to the east but it of course

is well above the deeper mineralization on the south side of the system so again we see this stacked

impression these loads having some continuity in the southwest direction but plunging getting

a little bit deeper but still we're really in what would be open pitminable depths quite easily to

have this kind of grade at less than 150 meters vertically below surface could be very attractive

if we find a lot more of it of course and that is our attention now I want to talk a little bit

more about grade because look great is impressive across the board even that last hole we were talking

about 32 over 32 grams per ton gold there's also a high grade component in that of 188 grams per

ton gold but then we look on the map we look a little bit further east and you're hitting some

longer widths of nine grams per ton even down to seven grams per ton but that's over 11 meters

is there a consistent grade that you're seeing through here or their pockets of these higher

grade areas and then these other high grade areas just not as high yeah it's all relative at

moustigarvy you can see that the 5 gram 4.8 gram rock chips 500 meters north there we haven't even

had time to get up and drill that yet we don't consider that high grade here even though it comes

to surface but look great as king it always has been quarry it always will be and moustigarvy if it

has one thing it has produced grade as I look at our scheme of drill results and I compiled you know

the top 10 top 15 holes we've been drilling you know for this press release it's absolutely

commonplace for us to drill intervals running from sort of seven grams per ton to 15 grams per ton

over significant widths not just narrow runs so it is a characteristic of the deposit we see it

up and down in the structure everywhere we drill the first important results we announced in 2019

quarry from this project were two meters of 45 grams and that was two kilometers from where

we are now to the southwest so the answer is what you're observing is real and consistent

and what you don't see are long runs of low grade quarry and one of these holes I think it was

whole ten as a matter of fact I wrote in the press release that we observed you know kind of a long

run of a weekly anomalous gold and when that happens quarry it's often been a near miss for us

meaning there's there's grades somewhere around there and we're just on the edge of it and

because it just wouldn't be typical of musty RV to see a long run of low grade we do have you know

half a gram to one and a half gram mineralization over several meters but it's generally punctuated

by higher grade or flanking higher grade so that is a characteristic of this particular discovery

and origin at gold as a whole many of the highest grade deposits in the world have been origin

in gold deposits and we hope one day musty RV posts a resource number that lives up to that

reputation it certainly looks like we're going in a positive direction drilling grade like this

you know year in and year out okay let's get a recap of the drill program then how many holes

have you released so far in the program how many are drilled and how much more drilling is there

still to come in this current program at musty RV we have completed 30 holes the drill took about a

three week break it's coming back in March to continue drilling at musty RV of those 30 holes 15

have now been announced so we've still got you know 15 holes completed not yet announced so

that's already sort of money in the bank we've already spent that money and results are coming

which is great we have sufficient funds to keep drilling into May we also drilled three holes at

Sarvey where we also announced a high grade intercept the first high grade intercept at that

property which is over to the east of here about 30 kilometers next to Rupert's Icari project

so I would say Cory if you take a look at it on a meters basis we're probably about 65 percent

done with the drilling of on the low end we projected we would drill at least 10,000 meters

Cory so we're doing very well we are on budget the drillers are incredibly consistent they

deliver the core at a very fair price and the program is going really really well without incident so

we'll certainly get 10,000 meters our intention is to keep drilling and for results to justify that

and right now we're funded to keep drilling for another couple of months without really

hesitating Cory so more results to come and 15 of those holes are already drilled

so as you keep drilling let's tie in this triangle target you mentioned it a few times it's on

that map that I posted below the interview when are you going to get up there and what's the

strategy to get up there yeah pretty pretty neat and you'll see that gap as you as your eye follows

that dash line up to the north you cross over a high voltage power line there Cory there's so

much infrastructure up here it's great so that's just an easement or a right-of-way for the power

line that's not a gap in our tenement so we'll get up there quite soon that structure is going to

get drilled Miko has a plan to put holes into that we did do a channel sample kind of a small

trench up there it's only edge of a swampy area so we just had a little bit of outcrop you always

hear me say there's very little outcrop and Finland and that's true but there's one area there where

we had a bit of outcrop and we do believe that structure is real and we've kind of maybe hit the

southern end of it with hole 12 and so in this next phase of work it'll be late March into April

but we will certainly get holes into that triangle target and you can kind of envision how we

might approach that drilling across the structure moving up from hole 12 we put some additional

holes there we work north and then we try to undercut those 4.8 you know 3.8 4.4 gram rock chip

samples to the north there so definitely what happened I would say we'll be in that area before

mid-April so more news to come for the spring. So Patrick one final question then I want you to

compare what you've hit so far at Moosti RV even tying in that RV project to some of the peers

maybe in this Finland area in the Lapland Greenstone Belt because currently the company is

about a $28 million Canadian market cap you've clearly hit some high grade here you're not nearly

as advanced as some of the other let's say Rupert resources and some of the other players

in that area but what kind of comparison should we be drawing to some of your neighbors in the area?

Well we are in that pre-resourced phase as are the other sort of four juniors in the belt Cory

you've got ourselves orient resources which is trading at you know eight times our market cap or

seven and and change times our market cap Valquia similar market cap more newcomer to the belt

a pre-resource and fin medals similarly pre-resource so if you compare to pre-resource companies

it's always hard right well you know what makes them explore valuable in the market and you know

look at the team we're here in Toronto this week we've been at the Red Cloud pre-PDAC event we're

headed to PDAC on Sunday and we you know we meet with a lot of investors and for many people it's

about meeting the team we have our exploration manager here Carl our CEO and myself and so the

team's really important then you got to look at the projects obviously and and I would say that

with just to mention that Sarby result you know to the casual observer drilling 1.75 meters of 27

and a half grams you know only 70 meters below surface wouldn't be that big of a deal I want to

stand along basis but it's another project in which we have core drilling with plus 20 gram

intercepts and we happen to be adjacent to Rupert's Icari project you know with a 100%

on project right next to a 4 million ounce project that's advancing towards feasibility so

the neurology is really strong and yet we're you know we're pre-resource again so you know

ability to execute putting the money in the ground drilling the meters and you know I encourage

people to look at drilling like we do look at great thickness look at the ability to repeat

quality intercepts on a property and see where we stack up I think we are a heck of a value

at a 28 million market cap right now and with the quality shareholders we have long-minded shareholders

and we're repeatedly hitting high-grade gold now on more than one project so we'll get back to Sarby

in this drill program as well we continue to advance more than one project to Corey just because

you need more than one horse in the race over the long term but we think we're on to a discovery

at Moosti Army and we have announced in our press releases our intention to put forward a

mineral resource estimate there and we're aiming for the end of this year or first quarter of

2027 so it won't be very long and folks can see that we believe this resource does hang together

and we believe the resource will represent that and may differentiate us further from our peer group.

All right Patrick great chatting with you thank you for the update again Patrick Heismith

chairman and co-founder of Firefox Gold which company is traded on the TSX venture exchange under

the symbol FF-OX on the OTC QB under the symbol FF-OX F and the Frankfurt Exchange FIY for any

very one listening please send me any questions you have for Patrick and I'll get them back on

the show as we get some more drill results. Patrick thanks for the update today thank you Corey

take care