FireFox Gold Expands Drill Program at Mustajärvi and Commences Drilling at the Sarvi Project in Lapland, Finland
Rhea-AI Summary
FireFox Gold (OTCQB:FFOXF) reports that since August 2025 it has drilled 56 holes totaling 13,945 metres at its 100%-owned Mustajärvi gold project in Lapland, exceeding its original plan of about 10,000 metres. The first rig is on a scheduled break while core logging and sampling continue, with analytical results pending for 25 holes and drilling expected to resume in early August.
The company has engaged a second drilling contractor and started a follow-up drill program at its 100%-owned Sarvi project, 20km east of Mustajärvi. Sarvi drilling will step out from scout hole 25SA003, which intersected 27.48 g/t gold over 1.75 metres, and test new geophysical targets. FireFox also granted 1,430,000 stock options at an exercise price of $0.55, a premium to the prior $0.50 close, expiring in five years.
Positive
- Mustajärvi drilling exceeded plan 13,945m vs. ~10,000m target since August 2025
- High-grade Sarvi intercept 27.48 g/t Au over 1.75m in hole 25SA003
- Two drill rigs Parallel drilling at Mustajärvi and Sarvi following short Mustajärvi break
- New geophysical targets Several hundred metres of conductive, magnetic trend at Sarvi
- Stock options at premium 1,430,000 options at $0.55 vs. $0.50 prior close
Negative
- Potential dilution 1,430,000 new stock options exercisable over five years
AI-generated analysis. How Rhea-AI works. Not financial advice.
SODANKYLÄ, FI / ACCESS Newswire / July 14, 2026 / FireFox Gold Corp. (TSX.V:FFOX)(OTCQB:FFOXF)("FireFox" or the "Company") is pleased to report that it has drilled 56 holes, comprising 13,945 metres, at the
The Sarvi drill program will test the continuity and extent of the gold mineralization intersected in scout drill hole 25SA003, which returned 27.48 g/t Au over 1.75 metres (see the Company's news release dated January 21, 2026). In addition to step-out drilling around hole 25SA003, the FireFox technical team has generated additional targets from recently completed geophysical surveys on the Sarvi property.
FireFox CEO, Carl Löfberg, commented, "It has already been a very productive year in the field. We have well surpassed our targeted drill meterage at Mustajärvi, which will lead to steady news flow during the second half of 2026, building towards a maiden mineral resource estimate. This is the sort of critical mass of drilling and expanded scale of exploration that we've been waiting for. Now, after closing another significant financing, we are initiating drilling at a second project. After a short, planned break at Mustajärvi, we will be operating two drill rigs in parallel for the first time. While Mustajärvi is our first discovery and flagship project, it's important to remember that FireFox has a total of seven projects. The Sarvi project was the site of a high-grade drill intercept that we reported in January. Our team has now applied multiple geophysical methods to target beneath the thin cover of glacial sediments in that area. We are confident that we have identified favourable targets there with excellent potential to yield more high-grade gold. We believe a core strength of our company is the team's ability to move rapidly and systematically across multiple targets on multiple properties."
Near-Term Objectives at Sarvi Project
The summer drilling program at the Sarvi project aims to improve the Company's understanding of the controls on the previously identified high-grade gold mineralization. Ahead of the current drilling program, FireFox completed detailed ground magnetic, fixed-loop electromagnetic (FLEM), and gravity surveys across the target area. The high-resolution ground magnetic survey, completed using 20-metre line spacing, outlined a NW-SE trending corridor that coincides with the gold mineralization intersected in drill hole 25SA003. The FLEM survey also identified several conductors, which have now been modelled into attractive targets, which fit well with the magnetic features. The strongest conductors occur below the depth of previous drilling and exhibit high conductance values, indicating the potential for sulphide-rich polymetallic mineralization at depth. FireFox geologists can trace this trend for several hundred metres, making it a high-priority exploration target.
After a modest follow-up campaign at Sarvi, the second drill will move back to Mustajärvi while the Company awaits assays. The second rig at Mustajärvi will allow the team to balance between systematic in-fill drilling and testing new targets along the several kilometres of structures that remain untested there.
Corporate Update
FireFox also announces that it has granted 1,430,000 stock options at an exercise price of
Qualified Person
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 on a large portfolio of ground prospective for high-grade gold deposits. The delineation of multiple gold zones at the Company's
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 www.firefoxgold.com 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: info@firefoxgold.com
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; the location of targets for future exploration programs; the current and future work program, including the extent and nature of exploration to be conducted in 2026; and the intention to prepare a mineral resource estimate in the near future. 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
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