Highlights: At Boundary Main step-out drillhole NB22-006 intersected 12.5 metres of 11.17% zinc, including 6.2 metres of 15.84% zinc. A new laminated zone in hole NB22-008 returned 14.55% zinc, 1.50% lead, and 28.8 g/t silver over 2.65 metres.
Copper-zinc mineralization was intersected in NB22-006 over 10.5 metres grading 0.45% copper and 2.32% zinc. Assay results from 24 additional drill holes at Boundary and Tom Zones are pending.
Brandon Macdonald, CEO, stated, “Drilling continues to extend the Boundary Zones with high-grade step-out drill results, including the discovery of a new stratiform zone. The zones remain open along trend and to depth for further extension. Many additional 2022 drill results are pending and we have started planning the biggest drill program in the history of the project for 2023.”
New Boundary drill hole Results: Laminated sphalerite-galena-barite-pyrite mineralization was intersected in NB22-008 within only 35 metres from surface and occurs within the same late-Devonian stratigraphy that hosts the Tom and Jason deposits. This zone graded 8.08% zinc, 0.82% lead, and 17.8 g/t silver over 5.58 metres, containing a higher grade 2.65 metres interval of 14.55% zinc, 1.50% lead and 28.8 g/t silver. This represents a new discovery of a high-grade laminated zone at Boundary Main and remains open to the north and west.
Deeper in NB22-008, a broad zone of sphalerite mineralization was intersected, grading 3.32% zinc over 30.68 metres, representing a ~65-metres step-out down-dip from the historic Cominco hole NB91-25. This zone comprised replacement of matrix and some clasts by pyrite and red sphalerite in coarse clastic rocks and breccias cemented by sphalerite-pyrite with minor sphalerite-quartz veins. The textures in this step out intersection are typical of the zinc mineralization at Boundary Main.
NB22-005 intersected several narrow (2.84 m to 4.7 m wide) intervals of stockwork sphalerite-siderite veins grading 4.20% to 5.55% zinc within a sequence of coarse volcaniclastic rocks and conglomerates, typical of mineralization at Boundary Main. These intersections are 30 m to 40 m step-outs up-dip from mineralization in historic Cominco hole NB91-25.
Deeper in NB22-005 an 18.4-metre intersection of 2.84% zinc was made in a sequence of black mudstones and lapillistones of the Road River Group comprising many thin red sphalerite-quartz-siderite veins and selective replacement of lapilli by red sphalerite. This intersection is a ~45 m step-out from similar mineralization intersected in 2021 Fireweed drillhole NB21-010.
NB22-006 intersected matrix and clast replacement sphalerite mineralization and sphalerite vein mineralization in several wide intervals typical of the style seen at Boundary Main. A higher-grade portion of one of these intervals graded 11.17% zinc over 12.5 metres including 6.22 metres of 15.84% zinc. Hole NB22-006 is a step-out hole, stepping-out 55 metres to 70 metres away from zinc mineralization in historic Cominco drillhole NB90-20.
In hole NB22-006, copper-zinc mineralization was intersected over 10.5 metres at 0.45% copper and 2.32% zinc within semi-massive pyrite replacing diamictite clasts and matrix. This intersection is 145 metres along strike from the intersection of 1.54% copper and 5.42% zinc over 2.00 metres reported from 2021 drillhole NB21-005 and it is unclear whether there is any continuity between these intersections.
Further to the Company’s news releases of 21 December 2022 and 30 December 2022 announcing closing of the $35 million private placement and related finders’ fees, the correct cash finder’s fees totalled $403,346.99.
Fireweed Metals has three projects located in northern Canada: 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; the Mactung Tungsten Project where Fireweed has a binding Letter of Intent to acquire 100% interest project located adjacent to the Macmillan Pass Project; and the Gayna River Zinc-Lead-Gallium-Germanium Project located 180 km north of the Macmillan Pass project.