Firefox Gold - Expanding the High-Grade Footprint at the Newly Discovered Lammas Zone
Summary
Firefox Gold's 200-metre step-out at Lammas Zone in Finland returned 16.6 metres averaging 5.8 grams per tonne, holding grade beyond the original hit.
Firefox Gold now controls at least two multi-kilometre shear zones carrying high-grade gold, the start of a mining camp — a cluster of nearby deposits.
Magnetics, electromagnetics and glacial till sampling steer the drill toward structure bends, where sheared rock opens and intercepts run thicker and higher grade.
Eight more Lammas holes are underway, with Triangle and Gabbro target drilling, Northeast Zone infill and the Sarvey property feeding a 10-day release cadence.
Management says the share price ignores the discovery, blaming thin trading and volatile junior sentiment despite a $7 million raise funding two rigs.
Key points on Firefox Gold
- The guest says the 200 m step-out hole 35 - 16.6 m at 5.8 g/t including one metre above 51 g/t - validated the Lammas structure opened by discovery hole 32 (21 m at 4.13 g/t), with a third hole (33) returning 5 m of roughly 1 g/t at depth in a structural bend, and that two multi-kilometre shear zones now carry high grade over significant thickness, which he frames as the beginnings of a camp-scale system.
- He reports Lammas has been upgraded from target to zone and is starting to look like the East Zone, although the East Zone still holds the company's best grade-thickness at 14 m of 29 g/t; mineralization also appears to shallow to the northeast, from about 114 m depth in hole 32 to 72 m in hole 35, toward base-of-till gold anomalies just north of the highway.
- He argues Lammas is only the tip of the iceberg, with untested parallel structures further east at Mustajärvi and to the southwest of existing discoveries, and says the Woma reservation gives the company the exclusive right to apply for exploration permits covering more than 2 km of the structure's strike.
- On execution he says drilling has not paused since August except for the seasonal Finnish break, with over 16,000 m drilled at 2,000-3,000 m per month on the back of the $7M raised in June (over 80% of proceeds into the ground, most recent raise priced at 60 cents, no new capital being raised at the moment), a second rig returning for the winter, about eight more Lammas holes underway, and news releases promised at least every 10 days through November from the triangle and gabbro targets, the Northeast zone and the Sarvi property next to Ikari.
- On value he argues the market is giving the discovery no credit, with the shares back near pre-discovery levels and 20-30% swings in market cap over a few weeks, which he blames on low float (about 50 million shares outstanding) and thin trading volume rather than results, and he points to a gold price near $4,100/oz creating producer cash flow and, in his view, a fertile environment for gold explorers.
Cory Fleck's takeaways
- Top takeaway The host argues the market is giving Firefox's new Lammas zone no credit, noting the shares rose for a couple of days after the discovery announced about a month before the 16 October 2026 interview and have since round-tripped back to roughly pre-discovery levels, while Firefox was flat on the results day as sector peers fell 4-6%.
- He pushes management on scale and priority, asking how Lammas ranks against the East Zone and the wider set of project targets, and closes by asking what cash position is driving the story forward, referencing the $7M June raise.