FireFox Gold Announces Discovery of the Lammas Zone, Intersecting 21.0m at 4.13 g/t Gold More Than 650m From Previous Drilling at the Mustajarvi Project in Lapland, Finland
FireFox’s first Lammas hole 750m east of known zones assays 86.7 g/t-m gold.
FireFox Gold Corp. has announced a new discovery, the Lammas Zone, at its 100%-owned Mustajärvi gold project in Lapland, Finland. The discovery, identified in drill hole 26MJ032, is located approximately 750–950 metres east-southeast of the existing East Zone. This represents the first drill test of a northeast-trending structural target developed using magnetics, fixed-loop electromagnetic (FLEM) data, and base-of-till geochemistry.
Key intercepts reported in hole 26MJ032, all core length with a 0.3 g/t Au cutoff, include:
- 21.0 m at 4.13 g/t Au from 114.0 m, including:
- 1.0 m at 21.6 g/t Au from 118.0 m
- 1.0 m at 9.58 g/t Au from 123.0 m
- 1.0 m at 9.58 g/t Au from 125.0 m
- 2.0 m at 8.3 g/t Au from 130.0 m
- 4.2 m at 3.41 g/t Au from 138.0 m, including 1.0 m at 7.22 g/t Au
- 1.0 m at 0.62 g/t Au from 144.0 m
- 1.0 m at 0.38 g/t Au from 161.0 m
- 1.0 m at 3.01 g/t Au from 186.0 m
- 1.0 m at 1.82 g/t Au from 191.0 m
Three holes were drilled at Lammas, but assays are reported only for the discovery hole. Step-out hole 26MJ033, collared about 60 m southwest, and 26MJ035, collared about 200 m northeast, are pending. The company explicitly cautions that favourable alteration and pyrite in those holes do not prove gold mineralisation. No visible gold was reported in any Lammas holes so far.
FireFox Gold Corp. (FFOX) is a pre-resource exploration company with no revenue, valued on its discovery and scale potential. The company has a market capitalization of approximately C$25 million, and its stock is trading at C$0.50, near the lower end of its 52-week range after peaking at C$0.87 in March 2026.
The recent Lammas result tests a new structural zone roughly 750–950 meters east of the East Zone. If confirmed, this would enlarge the Mustajärvi system beyond the known East and Northeast Zones and support the idea of multiple parallel mineralized structures, giving the company additional resource-growth targets beyond the early 2027 maiden resource.
The stock has round-tripped from C$0.87 to C$0.50 and is not pricing in prior high-grade results. There is no prior Lammas anchor because this is the first hole. Against the company’s best intercepts elsewhere on the property, 86.7 gram-metres is good but not exceptional. The positive delta here is not grade; it is scale and new-zone potential.
Financially, Q1 2026 showed a net loss of C$2.14 million and C$1.97 million cash at March 31, 2026. The May/June 2026 private placement raised about C$6.7 million, so the company is funded for near-term drilling, but remains dependent on further capital.
This is a genuinely new, market-relevant intercept with credible QA/QC and a valid structural story. But for a C$25 million explorer near its lows, a new zone with 21.0 m at 4.13 g/t core length is positive and not yet priced in.
FireFox Gold Corp. is a Canadian-listed junior explorer focused on orogenic gold in Finland. The company’s flagship Mustajärvi Project is 100%-owned and situated in the Central Lapland Greenstone Belt, approximately 18 km east of Kittilä. The project features multiple high-grade gold zones along the Mustajärvi Shear Zone, including the East, Northeast, Central, and Lammas targets.
Additional assets include Sarvi, Jeesiö, Nunara, Naula, and Manto. The Kolho property is subject to an earn-in agreement with Agnico Eagle, which can acquire a 51% interest by spending US$5 million. Agnico Eagle is also an approximately 11% cornerstone shareholder, a detail noted in prior-period context.
The company currently holds no mineral resources or reserves, has no production, and has not completed economic studies. It is advancing a maiden Mustajärvi resource estimate expected in early 2027.
Capital structure data from the presentation indicates roughly 49.9 million shares outstanding and about 84 million fully diluted. At C$0.50 per share, the market capitalisation is approximately C$25 million.