Fireweed Zinc drills 4.42% zinc over 212.70 metres at Macmillan Pass, Yukon, shares up

Drill core from the Tom West Zone showing layers of zinc and lead rich mineralization.

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Fireweed Zinc Ltd. [FWZ-TSXV] announced the first results from the 2020 drilling at the Macmillan Pass Project in Yukon, Canada. These results are from Boundary Zone, located 15 road-km west of the Tom-Jason deposits.

Significant assays over wide sections have been received from the first two diamond drill holes, NB20-001 and NB20-002, drilled in the central Boundary Zone area.

Hole NB20-002 intersected 4.42% zinc, 0.08% lead and 10.7 g/t silver over 212.70 metres, including 25.58% zinc, 0.14% lead and 44.0 g/t silver over 5.81 metres.

Hole NB20-001 intersected 2.60% zinc, 0.06% lead and 5.9 g/t silver over 246.68 metres from surface, including 23.62% zinc, 0.22% lead and 53.7 g/t silver over 4.95 metres.

Assays from other holes including the new discovery at Boundary Zone West are pending.

Brandon Macdonald, CEO, stated: “These first assays have been a long time coming due to slow turn around at the lab while they operate under COVID-19 limitations. The assays reported here are from the first two holes drilled in the central Boundary Zone area in 2020. We are pleased to see more good grades extending this wide zone of mineralization with very high-grade sections to depth in the central Boundary Zone area. Overall a belated but great start to the 2020 drill assays.”

The 2020 drill program was completed in October, but these are the first assays to be announced due to slow turn around at the lab operating under COVID-19 limitations. Infill and step-out drilling at Boundary Zone successfully encountered wide zones of zinc-lead mineralization, significantly expanding the extent of the known mineralization.

There is no mineral resource for Boundary Zone yet and the zone is not included in the current mineral resource estimate for the property.

Fireweed Zinc is advancing its district-scale 940 kmMacmillan Pass Project which is host to the 100%-owned Tom and Jason zinc-lead-silver deposits with current Mineral Resources and a PEA economic study as well as the Boundary Zone, Tom North Zone and End Zone which have significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources.

In January 26 trading shares gained $0.14 to $1.06, up 15.2%, on a volume of 821,700 shares traded.


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