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Fireweed Drills 298 m of 4.5% Zinc, 1.4% Lead and 30.9 g/t Silver Including a new zone of 24.5% Zinc, 15.1% Lead and 323.2 g/t Silver over 9.6 m

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Fireweed Drills 298 m of 4.5% Zinc, 1.4% Lead and 30.9 g/t Silver Including a new zone of 24.5% Zinc, 15.1% Lead and 323.2 g/t Silver over 9.6 m

 

 

 

 

 

FIREWEED METALS CORP. (TSX-V: FWZ) (OTCQB: FWEDF) is pleased to announce the final set of results from the 2022 drill program at Boundary Zone, Macmillan Pass, Yukon, Canada (Map 1). Additional results from 9 holes drilled at the Tom deposit in 2022 are pending.

 

Highlights

  • Multiple wide and high-grade zinc-lead-silver intersections in five different holes including many near surface intersections.
  • Hole NB22-023 intersected 298 m of 4.5% zinc, 1.4% lead, and 30.9 g/t silver including a new zone of stratiform mineralization grading 24.5% zinc, 15.1% lead, and 323.2 g/t silver over 9.6 m.
  • Hole NB22-022 intersected 226.8 m of 5.7% zinc, 0.6% lead, and 21.6 g/t silver including an intersection within the new stratiform zone of 9.3 m grading 16.6% zinc, 4.4% lead, and 143.1 g/t silver.
  • Hole NB22-017 intersected 60.5 m of 12.0% zinc and 21.9 g/t silver starting within 20 m from surface, including 6.2 m of 40.1% zinc, and 84.2 g/t silver.
  • Hole NB22-012 intersected 174.7 m of 3.0% zinc, and 7.9 g/t silver, including 32.2 m of 6.4% zinc, and 11.2 g/t silver.

 

CEO Statement

 

Brandon Macdonald, CEO, stated “The 2022 Boundary Zone drill results are nothing short of spectacular. Earlier in the season at Boundary West we drilled the best hole in 72 years of exploration anywhere at the Macmillan Pass project. The current results are not far behind and include extremely high-grade intersections within a new stratiform zone that we have now intersected in just a few holes at Boundary Main. With our biggest ever drill program planned for 2023, we see great potential for Boundary Zone.”

 

Boundary Zone Drilling Results

 

The following are the final drill results from Boundary Zone (Maps 1 and 2), all within the Boundary Main area. The last results from 9 holes from the Tom zinc-lead-silver deposit 2022 drill program are still pending.

 

Table 1: Boundary Zone 2022 drill result highlights from drill holes in this news release. See Table 2 for full table of results.

 

 

Drill hole Interval from (m) to (m) Interval (m) Zinc (%) Lead (%) Silver (g/t) Bulk Density (t/m3)
NB22-012 primary 166.15 340.87 174.72 3.04 0.03 7.9 2.972
>including 178.55 210.79 32.24 6.43 0.03 11.2 3.175
>and 327.86 338.00 10.14 8.29 0.07 34.1 3.546
NB22-015 primary 17.90 31.85 13.95 6.83 0.02 10.0 2.938
NB22-017 primary 19.50 79.96 60.46 12.01 0.38 21.9 3.003
>including 40.30 79.96 39.66 16.60 0.55 30.1 3.077
>>including 53.57 74.00 20.43 25.79 0.95 46.4 3.285
>>>including 55.00 61.20 6.20 40.14 0.28 84.2 3.599
NB22-022 primary 33.20 260.00 226.80 5.71 0.60 21.6 3.089
>including 38.67 238.34 199.67 6.25 0.62 23.3 3.083
>>including 38.67 54.50 15.83 14.48 0.11 27.1 3.282
>>>including 49.66 54.50 4.84 21.18 0.10 34.7 3.437
>>and 87.14 97.25 10.11 17.03 0.13 40.3 3.281
>>and 159.21 168.46 9.25 16.63 4.44 143.1 4.359
>>and 210.92 237.31 26.39 10.93 1.10 26.9 3.226
>>>including 228.00 237.31 9.31 17.22 2.11 41.0 3.285
NB22-023 primary 29.65 327.74 298.09 4.45 1.42 30.9 3.075
>including 120.95 326.77 205.82 5.08 2.00 41.8 3.147
>>including 120.95 157.80 36.85 15.05 5.18 127.6 3.063
>>>including 126.37 130.75 4.38 38.29 0.08 103.1 3.353
>>>and 148.20 157.80 9.60 24.45 15.11 323.2 3.993
>>and 291.20 318.34 27.14 7.26 5.56 77.2 4.006
>>>including 298.11 303.15 5.04 10.45 8.42 111.9 4.168

*Intersected thicknesses, not true thicknesses, are stated for all intersections in Table 1. Due to the early-stage of drilling, true thicknesses cannot be accurately stated for these holes. Numbers in the text may differ slightly from the table due to rounding.

 

NB22-012, NB22-022 and NB22-023

 

These holes intersected wide zones of high-grade zinc mineralization on both sides of the Boundary Main Fault (see Cross Section H-H’ and Map 2), including many near surface intersections. Above the fault are zones of vein-hosted sphalerite, including very-high grade breccias. Below the fault, NB22-022 and NB22-023 intersected the new stratiform zone, previously reported in NB22-018 and NB22-020 (see Fireweed news release dated February 27th 2023). In NB22-022 and NB22-023 the new zone is very high grade, including significant lead and silver mineralization in addition to the high-grade zinc.

 

Hole NB22-023 intersected 298 m of 4.5% zinc, 1.4% lead, and 30.9 g/t silver including a 36.9 m intersection of 15.1% zinc, 5.2% lead, and 127.6 g/t silver that included very high grade breccia and veins over 4.4 m grading 38.3% zinc and 103.1 g/t silver and a very high grade new stratiform zone of massive sulphide over 9.6 m grading 24.5% zinc, 15.1% lead, and 323.2 g/t silver (Tables 1 and 2). Included near the end of the 298 m interval is a 27.1 m intersection of 7.3% zinc, 5.6% lead, and 77.2 g/t silver of massive sulphide and vein mineralization hosted in volcaniclastic rocks.

 

NB22-022 intersected 227 m of 5.7% zinc, 0.6% lead, and 21.6 g/t silver including some high grade intervals of sphalerite vein and breccia mineralization above the Boundary Main Fault: 15.8 m of 14.5% zinc, and 27.1 g/t silver; 1.4 m of 32.8% zinc, and 29.7 g/t silver; 10.1 m of 17.0% zinc, and 40.3 g/t silver; and 3.5 m of 10.6% zinc, and 17.2 g/t silver (Tables 1 and 2). In the new zone of stratiform massive sulphide mineralization, a 9.3 m intersection graded 16.6% zinc, 4.4% lead, and 143.1 g/t silver (see Image 1). Near the base of the 227 m intersection was a sub-interval of 26.4 m that graded 10.9% zinc, 1.1% lead, and 26.9 g/t silver within silicified diamictites.

 

NB22-012 intersected a wide interval of sphalerite vein mineralization largely in the hangingwall of the Boundary Main Fault of 174.7 m of 3.0% zinc, and 7.9 g/t silver, including: 32 m of 6.4% zinc, and 11.2 g/t silver; 6.9 m of 5.2% zinc, and 5.1 g/t silver; and 10.1 m of 8.3% zinc, and 34.1 g/t silver.

 

NB22-017 and NB22-015

 

These two infill holes were drilled from the same pad to test high grade vein and breccia mineralization in the hangingwall of the Boundary Main Fault. Hole NB22-017 intersected 60.5 m of 12.0% zinc, 0.4% lead, and 21.9 g/t silver including a 20.4 m intersection of 25.8% zinc, 1.0% lead, and 46.4 g/t silver that contained an interval of 6.2 m of 40.1% zinc, 0.3% lead, and 84.2 g/t silver, demonstrating that this high-grade zinc mineralization is present in the near surface (see Image 2 and Tables 1 and 2). Hole NB22-015 intersected 14 m of 6.8% zinc, and 10.0 g/t silver including 2.4 m of 19.7% zinc, and 29.3 g/t silver within 30 m of surface.

 

Geological interpretation

 

Dr. Jack Milton, Chief Geologist, Fireweed Metals, remarked “Boundary West and Boundary Main are separated by a 300 m gap in the drilling at depth. To vector in on high grade feeder zones, we map out in 3D, increases in: lead mineralization; silicification of the host rocks; abundance of diamictite rocks; and geochemically anomalous indicators such as copper concentration. At Boundary we see all of these factors increase towards the gap in the drilling from both sides and this occurs across an early-formed syn-sedimentary fault that likely served as a conduit for mineralizing fluids – a potential feeder zone. On one side of this gap at Boundary West we have our best ever hole and on the other side we have these very high-grade results from the newly discovered stratiform zone that is in the same position in the stratigraphy as our Tom and Jason deposits. We see great potential for even higher grades and more metal in the feeder zone, and we are very excited to test this gap by drilling as part of our large 2023 exploration program.”.

 

See Long Section I-I’ for a summary of the Boundary Zone mineralization and an interpretation of the target of a potential feeder zone.

 

Qualified Person Statement

 

Technical information in this news release has been approved by Fireweed Metals Chief Geologist, Jack Milton, Ph.D., P.Geo. (BC), a ‘Qualified Person’ as defined under Canadian National Instrument 43-101.

 

About Fireweed Metals Corp.

 

Fireweed Metals is a public mineral exploration company on the leading edge of Critical Minerals project development. Fireweed is well-funded, with a current cash position of approximately C$38,000,000 and is well-positioned to carry out a large 2023 exploration program. The Company has three projects located in 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 one of the largest undeveloped zinc resources in the world* where the Tom and Jason zinc-lead-silver deposits have current Mineral Resources and a PEA economic study (see Fireweed news releases dated 10th January 2018, and 23rd May 2018, respectively, and reports filed on www.sedar.com for details). In addition, Boundary Zone (comprising Boundary Main, and Boundary West), Tom North (located adjacent to the Tom deposit) and End Zone 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.
  • Mactung Tungsten Project: The Company has signed a definitive Asset Purchase Agreement and acquired 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. An updated mineral resource is planned for Q2 2023, and re-sampling of historic drill core is continuing and will include assays for previously unreported by-product metals, such as gold, copper, and bismuth, in addition to tungsten.
  • Gayna River Zinc-Lead-Gallium-Germanium Project: Fireweed has 100% of the 128.75 km2 Gayna River project located 180 kilometres 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 results from the 2022 field program of geochemical sampling, airborne LiDAR topographic surveying and ground geophysics are now being interpreted towards defining drill targets.

 

 

Map 1: Macmillan Pass Project and Mactung Project locations.

 

https://www.globenewswire.com/NewsRoom/AttachmentNg/b2f41017-2ff1-4823-9d56-c3ee9994bf2b

 

Map 2: Boundary Zone drilling map with holes with results in this release labeled. For green section lines, see Cross Section H-H’ and Long Section I-I’.

 

https://www.globenewswire.com/NewsRoom/AttachmentNg/812a362c-9744-400c-bf4d-28d9c124a7e3

 

Image 1: Core 158.2 m to 171.8 m from drill hole NB22-022 within the new stratiform zone of massive sphalerite-pyrite-galena. Contains interval 159.21-168.5 m (9.25 m) that graded 16.6% zinc, 4.4% lead, and 143.1 g/t silver (Tables 1 and 2). Image is a high resolution photomosaic from core scanning with core boxes and blocks filtered out.

 

https://www.globenewswire.com/NewsRoom/AttachmentNg/4f4e8ce8-cad6-4da9-9f9e-fd4b9ba15f49

 

Image 2: Core 53.1 m to 68.0 m from drill hole NB22-017 within a high-grade zone of sphalerite (red-brown mineral) veins and hydrothermal breccia. Contains interval 55.0-61.2 m (6.2 m) that graded 40.1% zinc, 0.3% lead, and 84.2 g/t silver (Tables 1 and 2). Image is a high resolution photomosaic from core scanning with core boxes and blocks filtered out.

 

https://www.globenewswire.com/NewsRoom/AttachmentNg/905a6de7-ae2d-4878-8592-091b82e768b3

 

Cross Section H-H’: Highlights of new results from NB22-012, NB22-022, and NB22-023. See Table 2 for full table of results. Intersections from the new stratiform zone were first reported in Fireweed News Release dated 27th February 2023 from holes NB22-018 and NB22-020.

 

https://www.globenewswire.com/NewsRoom/AttachmentNg/61e0e7c7-1481-4b7b-8e72-c640be611488

 

Long Section I-I’: A selection of significant zinc intercepts are shown on this long section to illustrate the scale of the Boundary Zone target. The vectors towards the feeder are shown towards a ~300 m gap in the drilling between Boundary West and Boundary Main, where there is a target for a potential feeder zone. The feeder vectors have been interpreted based on an increase in: zinc, lead and silver grades; copper anomalism; silicification in the surrounding mudstones; and the abundance of diamictites developed around a potential feeder fault. The potential feeder fault has significant differences in the stratigraphy on either side of the fault, demonstrating the offset on the fault to be at least in part syn-sedimentary, and therefore available for fluids as a conduit in the early history of the basin. See Map 2 for section line.

 

Table 2: Boundary Zone Main 2022 full table of drill results for all holes in this news release.

 

Drill hole Interval from (m) to (m) Interval* (m) Zinc (%) Lead (%) Silver (g/t) Bulk Density (t/m3)
NB22-012 primary 166.15 340.87 174.72 3.04 0.03 7.9 2.972
>including 178.55 210.79 32.24 6.43 0.03 11.2 3.175
>>including 202.60 205.45 2.85 12.36 0.01 15.3 3.084
>and 292.25 299.15 6.90 5.20 0.01 5.1 2.780
>and 327.86 338.00 10.14 8.29 0.07 34.1 3.546
NB22-015 primary 17.90 31.85 13.95 6.83 0.02 10.0 2.938
>including 17.90 24.78 6.88 10.86 0.02 16.1 2.921
>>including 20.90 23.32 2.42 19.73 0.02 29.3 3.083
primary 79.81 108.10 28.29 2.18 0.55 14.2 2.991
NB22-017 primary 19.50 79.96 60.46 12.01 0.38 21.9 3.003
>including 40.30 79.96 39.66 16.60 0.55 30.1 3.077
>>including 53.57 74.00 20.43 25.79 0.95 46.4 3.285
>>>including 55.00 61.20 6.20 40.14 0.28 84.2 3.599
>>and 71.00 74.00 3.00 30.22 5.71 29.2 3.169
NB22-022 primary 33.20 260.00 226.80 5.71 0.60 21.6 3.089
>including 38.67 238.34 199.67 6.25 0.62 23.3 3.083
>>including 38.67 54.50 15.83 14.48 0.11 27.1 3.282
>>>including 49.66 54.50 4.84 21.18 0.10 34.7 3.437
>>and 70.14 71.54 1.40 32.77 0.26 29.7 3.247
>>and 87.14 97.25 10.11 17.03 0.13 40.3 3.281
>>>including 87.14 89.13 1.99 29.21 0.41 72.4 3.488
>>>and 94.35 97.25 2.90 26.00 0.10 59.8 3.620
>>and 102.56 106.08 3.52 10.63 0.03 17.2 3.081
>>and 159.21 168.46 9.25 16.63 4.44 143.1 4.359
>>and 210.92 237.31 26.39 10.93 1.10 26.9 3.226
>>>including 228.00 237.31 9.31 17.22 2.11 41.0 3.285
>and 255.95 260.00 4.05 3.49 1.60 25.0 3.453
NB22-023 primary 29.65 327.74 298.09 4.45 1.42 30.9 3.075
>including 37.00 65.60 28.60 6.60 0.02 8.9 3.212
>>including 37.00 40.00 3.00 10.22 0.02 13.2 3.154
>>and 57.20 64.20 7.00 10.64 0.02 9.7 3.386
>and 120.95 326.77 205.82 5.08 2.00 41.8 3.147
>>including 120.95 157.80 36.85 15.05 5.18 127.6 3.063
>>>including 126.37 130.75 4.38 38.29 0.08 103.1 3.353
>>>and 148.20 157.80 9.60 24.45 15.11 323.2 3.993
>>and 291.20 318.34 27.14 7.26 5.56 77.2 4.006
>>>including 298.11 303.15 5.04 10.45 8.42 111.9 4.168
>>>and 313.2 315.35 2.15 17.41 3.91 69.3 3.936

*Intersected thicknesses, not true thicknesses, are stated for all intersections in Table 1. Due to the early-stage of drilling, true thicknesses cannot be accurately stated for these holes. Numbers in the text may differ slightly from the table due to rounding.

 

Table 3: Summary of drill results from 2022 program.

 

Drill hole Zone Hole length (m) Significant intersections Type
NB22-001 BW 463 Reported on Nov 22 2022 Infill & Step-out
NB22-002 BW 491 Reported on Nov 22 2022 Step-out & New Discovery
NB22-003 BW 64 Hole abandoned
NB22-004 BW 403 Reported on Feb 15 2022 Step-out
NB22-005 BM 326 Reported on Jan 31 2023 Step-out
NB22-006 BM 375 Reported on Jan 31 2023 Step-out
NB22-007 BW 365 Reported on Feb 15 2022 Step-out
NB22-008 BM 213 Reported on Jan 31 2023 Step-out & New Discovery
NB22-009 BM 147.5 Reported on Feb 27 2023 Infill
NB22-010 BM 91 Reported on Feb 27 2023 Infill
NB22-011 BM 265.3 Reported on Feb 27 2023 Infill & Step-out
NB22-012 BM 353 Reported in this release Step-out
NB22-013 BM 125.4 Reported on Feb 27 2023 Infill
NB22-014 BM 31 Hole abandoned
NB22-015 BM 145 Reported in this release Infill
NB22-016 BM 57.4 Hole abandoned
NB22-017 BM 80 Reported in this release Infill
NB22-018 BM 270 Reported on Feb 27 2023 Infill, Step-out & New Discovery
NB22-019 BW 340 Reported on Feb 15 2022 Infill & Step-out
NB22-020 BM 149 Reported on Feb 27 2023 Infill
NB22-021 BM 112 Reported on Feb 27 2023 Infill
NB22-022 BM 327 Reported in this release Step-out & New Discovery
NB22-023 BM 367 Reported in this release Step-out & New Discovery
TS22-001 TW 200 Wide zone Infill
TS22-002 TE 170.9 Wide zone Infill
TS22-003 TW 125 Wide zone Infill
TS22-004 TW 214.2 Wide zone Infill
TS22-005 TW 128 Wide zone Infill
TS22-006 TW 190.5 Wide zone Infill
TS22-007 TW 86 Wide zone Infill
TS22-008 TW 61 Wide zone Infill
TS22-009 TW 335 Wide zone Infill

All assays pending unless otherwise indicated. BM: Boundary Main; BW: Boundary West; TW: Tom West; TE: Tom East.

 

Table 4: 2022 Drill Collar Details.

 

Drill hole Target Length (m) Easting Northing Elevation (m.s.l) Azimuth (°) Dip
(°)
NB22-001 Boundary 463 421861 7010461 1178 030 -58
NB22-002 Boundary 491 421940 7010405 1164 033 -57
NB22-003 Boundary 64 422105 7010683 1238 211 -76
NB22-004 Boundary 403 422105 7010683 1238 211 -76
NB22-005 Boundary 326 422230 7010524 1193 214 -50
NB22-006 Boundary 375 422539 7010536 1195 207 -55
NB22-007 Boundary 365 421940 7010405 1164 036 -47
NB22-008 Boundary 213 422274 7010600 1217 209 -68
NB22-009 Boundary 147.5 422438 7010417 1165 208 -50
NB22-010 Boundary 91 422390 7010385 1152 205 -50
NB22-011 Boundary 265.3 422440 7010419 1164 208 -69
NB22-012 Boundary 353 422342 7010620 1219 201 -65
NB22-013 Boundary 125.4 422390 7010386 1150 205 -70
NB22-014 Boundary 31 422330 7010384 1146 212 -50
NB22-015 Boundary 145 422331 7010385 1146 212 -75
NB22-016 Boundary 57.4 422330 7010384 1146 212 -55
NB22-017 Boundary 80 422331 7010385 1147 212 -85
NB22-018 Boundary 270 422308 7010434 1166 216 -58
NB22-019 Boundary 340 421948 7010672 1232 180 -57
NB22-020 Boundary 149 422308 7010435 1166 216 -72
NB22-021 Boundary 112 422309 7010435 1167 216 -82
NB22-022 Boundary 327 422292 7010474 1182 211 -56
NB22-023 Boundary 367 422292 7010474 1182 211 -70
TS22-001 Tom West 200 441994 7003679 1545 060 -80
TS22-002 Tom East 170.9 442063 7004322 1677 060 -90
TS22-003 Tom West 125 441994 7003680 1545 065 -55
TS22-004 Tom West 214.2 441993 7003679 1545 065 -89
TS22-005 Tom West 128 442046 7003767 1533 063 -50
TS22-006 Tom West 190.5 442044 7003582 1581 049 -75
TS22-007 Tom West 86 441943 7003969 1538 066 -80
TS22-008 Tom West 61 441945 7003970 1538 066 -45
TS22-009 Tom West 335 442043 7003581 1581 049 -89

 

Coordinate reference system: UTM Zone 9 NAD83. North reference: UTM grid north.

 

Posted March 2, 2023

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