Fireweed Metals intersects 6.34% zinc over 56.5 metres at Macmillan, Yukon
Fireweed Metals Corp. [FWZ-TSXV; FWEDF-OTCQB] reported additional results from the 2022 drill program at Boundary West, Macmillan Pass project, Yukon, Canada.
Highlights include an infill hole intersected 56.5 metres of 6.34% zinc, 0.38% lead and 36.4 g/t silver within the massive sulphide zone at Boundary West.
Several step-out holes successfully intersected stratiform mineralization, massive sulphides and Howard Pass-style mineralization, extending the mineralization at Boundary West.
Assay results from 21 holes from Boundary Main and Tom are pending from the 2022 drill program. Fireweed is preparing for its largest ever drill program with a cash position of $38.6-million.
Brandon Macdonald, CEO, stated: “These results from the 2022 Boundary West drilling program include several significant stepouts and demonstrate that the massive sulphide zone carries good grade and continuity. We hit another intersection in the Howard’s Pass-style mineralization in older rock units for which we see further potential across the property. Results are pending from many of the 2022 drill holes that intersected wide intervals of intense sphalerite-galena mineralization at Boundary Main and the Tom deposit.”
The following drill results are from three drill holes located at Boundary West. The results from many other holes from the 2022 drill program are pending, including 12 holes from Boundary Main, eight holes from Tom West and one hole from Tom East.
NB22-004
At depth, hole NB22-004 intersected a zone of stratiform zinc-lead-silver mineralization over 28 metres grading 2.6% zinc, 1.5% lead, and 26.5 g/t silver. Preliminary geological interpretations correlate this layer with the stratiform zinc-lead-silver mineralization previously discovered at Boundary West, representing an approximately 115-metre step-out. A thin (0.65 m) intersection of high-grade sphalerite veining returned 28.5% zinc within a sequence of conglomerates, similar in style to Boundary Main. This hole was targeting a step-out from the very high grade and wide intersection of massive sulphide in hole NB22-002 but had to be abandoned short of the target due to excessive drillhole deviation and the step-out target remains untested.
NB22-007 intersected 4 metres of semi-massive sulphide mineralization grading 5.2% zinc and 11 g/t silver within silicified and siderite-altered lapilli tuffs, representing a ~30-metre step-out up-dip from the newly discovered zone reported in NB22-002. This hole also intersected a zone of massive sulphide over 7.3 metres grading 10.7% zinc, 1.7% lead, and 75.1 g/t silver including 3.8 metres of 15.5% zinc, 1.8% lead, and 94.9 g/t silver.
NB22-019 provided an infill intersection of 56.5 metres of 6.3% zinc, 0.4% lead, and 36.4 g/t silver within the massive sulphide zone at Boundary West including two distinct high-grade zones: 11.6 metres of 10.9% zinc, 0.3% lead, and 43.5 g/t silver; and 13 metres of 9.6% zinc, 0.7% lead and 48.2 g/t silver. This hole also provided a step-out of the Howard Pass style mineralization intersecting 15.6 metres of 2.6% zinc including two 3.1-metre intersections of 5.4% zinc and 4.6% zinc, respectively. This is a ~50-metre step-out from similar mineralization in NB20-009.
Fireweed is well-funded, with a current cash position of C$38,600,000, and is well-positioned to carry out a large 2023 exploration program. The company has three projects located in Canada:
The Macmillan Pass Zinc-Lead-Silver Project: Fireweed owns 100% of the district-scale 940 km2 Macmillan Pass project in Yukon, Canada, which is host to the Tom and Jason zinc-lead-silver deposits with current Mineral Resources and a PEA economic study as well as the Boundary Zone, Boundary Zone West, Tom North Zone and End Zone which have significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources. The project also includes large blocks of adjacent claims with known showings and significant upside exploration potential. The large 2022 drill program utilizing four drills is complete and assay results are being announced as they are received and interpreted.
The Mactung Tungsten Project: Fireweed has a binding Letter of Intent to acquire 100% interest in the 37.6 km2 Mactung Tungsten Project located adjacent to the Macmillan Pass Project. Mactung contains historic resources that make it one of the largest and highest-grade undeveloped resources in the world of the Critical Mineral Tungsten. Located in Canada, it is one of the rare large tungsten resources outside of China. Due diligence and validation work on historic data has been completed and a second phase of relogging and sampling of historic drill core has begun and will support a new mineral resource estimate.
The Gayna River Zinc-Lead-Gallium-Germanium Project: Fireweed has 100 per cent of the 128.75 km2 Gayna River project located 180 km north of the Macmillan Pass project. It is host to extensive mineralization including Critical Minerals zinc, gallium and germanium as well as lead and silver, outlined by 28,000 metres of historic drilling and significant upside potential. The 2022 field program of geochemical sampling, airborne LiDAR topographic surveying and ground geophysics is now complete and data is being interpreted toward defining drill targets.