Skip to main content

Firefox Gold - Mustajärvi & Sarvi Drilling Update: Upcoming Resource Estimates & Discovery Potential

The KE Report Aug 19, 2026

Summary

Firefox Gold expects a maiden inferred resource at Mustajärvi next Q1 after a 14,000-meter drill program (40% larger than originally planned).

Three new Mustajärvi targets — Central Zone, Triangle, and Lammas — are being drill-tested to see whether the deposit keeps growing in every direction.

Assays from Sarvi follow-up drilling are expected in September, after earlier holes hit almost 2m at 27 g/t gold.

Capital discipline means rotating rigs across targets, awaiting assays, then resuming — a staggered approach across a seven-project pipeline.

The maiden Mustajärvi resource will cover the shallow (~250m) northeast and east zones with ~1.2 km of strike, leaving open-pit expansion as the next step.

Key points on Firefox Gold

  • An inferred resource estimate at Mustajärvi is targeted for Q1 (as of the August 2026 interview), built on a 14,000 m drill program that exceeded the original 10,000 m plan
  • Roughly 30 unreported drill holes at Mustajärvi are pending, with the CEO expecting a steady cadence of news releases (roughly weekly, sometimes biweekly)
  • The drilled mineralized footprint spans ~1.2 km of strike length and is <250 m deep; the CEO notes it is open in all directions
  • Three adjacent targets are being scout-drilled: Central Zone, Triangle (north), and Lammas (~700 m east), with results expected in October 2026
  • At Sarvi, 11 holes totaling 2.4 km were completed following an earlier 1.75 m at 27+ g/t intercept; results expected in September 2026

Cory Fleck's takeaways

  • Top takeaway Frames the segment around an upcoming Mustajärvi inferred resource estimate and a steady cadence of pending drill results
  • Notes Firefox Gold trades on TSX Venture (FFOX), OTCQB (FFOXF), and the Frankfurt Exchange (FIY)

Carl Löfberg's takeaways

  • Top takeaway Personally argues that Mustajärvi is clearly a discovery and expects the market to recognize growth potential once the first inferred resource is published in roughly 6 months
  • Outlines a capital-efficient strategy of running 1.5–2 rigs and iterating drill-interpret-drill cycles, citing an ~80% hit rate at Mustajärvi resource drilling and saying the budget could fund roughly five iterations of the current program
  • Plans to return to Sarvi next winter with geophysicist Marco Montonen collaborating on interpretation, alongside preparing a small drill program at Yesia and possibly first-pass drilling at a new area, Nonara
  • Hints a third rig could be added within 6–12 months as the seven-project pipeline develops
  • Emphasizes that the Mustajärvi tenement footprint has grown more than 10x over the past five years