FIREWEED ZINC LTD. (“Fireweed”) (TSXV: FWZ) is pleased to announce
further results from the 2020 drilling at Boundary Zone, Macmillan
Pass Project in Yukon, Canada. These are the first results from
Boundary Zone West, discovered in 2020 with a 360 metre step out
hole, and located 15 road kilometres west of the Tom-Jason deposits
(see Map 1).
Highlights
- Hole NB20-004
intersected 4.22% Zinc, 0.34% Lead and 25.6 g/t Silver over 76.5 m
including 6.46% Zinc, 0.77% Lead and 47.5 g/t Silver over 24.1 m
from a vertical depth of 90 m from surface.
- Only the upper
sequence of mineralization was intersected in this hole – the lower
sequence was not tested by this hole.
- Assays from
other holes at the new discovery at Boundary Zone West are pending,
including assays from hole NB20-009 that also intersected the lower
sequence.
Table 1: Initial 2020 results from Boundary Zone
West (length and density weighted average assays).
Drill Hole |
From (m) |
To (m) |
Interval (m) |
Zinc (%) |
Lead (%) |
Silver (g/t) |
Bulk Density (t/m3) |
NB20-004 |
130.61 |
218.00 |
87.39 |
3.92 |
0.33 |
23.8 |
3.71 |
>including |
132.50 |
209.00 |
76.50 |
4.22 |
0.34 |
25.6 |
3.74 |
>>including |
137.50 |
161.60 |
24.10 |
6.46 |
0.77 |
47.5 |
4.26 |
>>>including |
138.50 |
153.30 |
14.80 |
7.94 |
0.90 |
54.7 |
4.50 |
>>>>including |
138.50 |
144.50 |
6.00 |
10.52 |
1.16 |
65.4 |
4.47 |
>>>>and |
149.50 |
153.30 |
3.80 |
9.45 |
1.15 |
68.5 |
4.58 |
>including |
187.60 |
190.60 |
3.00 |
9.53 |
0.19 |
26.0 |
3.68 |
>and |
204.00 |
209.00 |
5.00 |
9.15 |
0.26 |
16.3 |
3.54 |
and |
285.69 |
289.43 |
3.74 |
7.55 |
0.21 |
16.0 |
3.72 |
|
|
|
|
|
|
|
|
CEO Statement Brandon Macdonald, CEO,
stated “This first hole into Boundary West has shown the impressive
grade and width potential of the upper sequence. The massive
pyrite-sphalerite-galena present in this upper interval demonstrate
not just healthy zinc grades, but intriguing silver levels. We now
wait on the assays from NB20-009, which also intersected the lower
sequence at Boundary West, to see better the potential of this new
discovery.”
NB20-004 Drill ResultsThese are the first assays
to be announced for Fireweed’s 2020 discovery, Boundary Zone West,
approximately 360 m west of the central area of the known Boundary
Zone mineralized system. Drill hole NB20-004 targeted a
ground-gravity high anomaly surveyed earlier in the season. The
drill hole intersected an upper sequence comprising massive
sulphides, Boundary Zone-style vein-hosted and replacement-style
mineralization, and stratiform, laminar mineralization similar to
that seen at Tom and Jason. The massive sulphide interval was
intersected at a vertical depth of 90 m below surface and projects
to shallower depths in hole NB20-009 (Section 1). Subsequent
on-section drilling intersected a second, lower sequence of
stratiform laminated zinc-lead mineralization and vein-hosted zinc
mineralization in hole NB20-009 (assays pending; see Table 4 and
Section 1).
The 24.1 m massive sulphide intersection is
interpreted to be stratiform, and from nearby oriented core bedding
measurements, the true thickness of the massive sulphide interval
is estimated at approximately 15 m, i.e., 60% of intersected
thickness. True widths of individual cm- to m-scale veins
intersected in NB20-004 vary greatly from 20% to 95% of intersected
thicknesses reflecting the stockwork nature of the veins, and at
this early stage of drilling the overall true thickness of Boundary
Zone West cannot be accurately estimated.
Boundary Zone PotentialThere is no Mineral
Resource for Boundary Zone and the zone is not included in the
current mineral resource estimate for the property (described in
Fireweed news release dated January 10, 2018). Boundary Zone has
potential to be mined in an open pit with a low strip ratio and to
be upgraded through low cost, pre-concentration ore sorting
processes (see Fireweed news release dated July 31, 2019). Recent
drill results at Boundary Zone along with Tom North Zone and End
Zone (see Fireweed news releases dated August 20th and September
10th, 2019; November 15th and 29th, 2018; January 26th, 2021)
represent potential for expansion of the large current mineral
resources and improvement of Macmillan Pass project economics
described in the current Preliminary Economic Assessment (PEA) (see
Fireweed news release dated May 23rd, 2018).
Boundary Zone BackgroundBoundary Zone
mineralization consists of sphalerite-siderite-pyrite and minor
galena in veins, stockworks, disseminations, and as replacement of
matrix and clasts within coarse clastic rocks. Drilling in 2020 at
Boundary Zone West also identified stratiform mineralized sequences
similar to the Tom and Jason deposits (see news release dated
November 24th, 2020).
Historical exploration work at Boundary Zone
included geochemical and geophysical surveys as well as 24 drill
holes that defined a central 200 x 800 m mineralized zone of zinc
(-lead-silver) mineralization within a broader system over 2 km in
strike length. Historical length-weighted average intersections1
such as 224.0 m of 2.50% zinc and 0.30% lead, including 4.5 m of
16.40% zinc, are consistent with recent Fireweed drilling and
demonstrated potential for bulk tonnage open pit
mineralization.
In 2019, Fireweed drilled two holes into the
central part of the known Boundary Zone mineralization. Both holes
intersected wide zones of high-grade replacement-style and vein-
and breccia-hosted zinc mineralization, including 100.0 m (true
width) of 8.73% zinc from surface including 6.4 m of 43.53% zinc
within 230.0 m of 4.51% zinc (see Fireweed news releases dated
November 5th, 2019 and January 26th, 2021).
Notes on sampling, assaying, and data
aggregation:The diamond drill core logging and sampling program was
carried out under a rigorous quality assurance / quality control
program using industry best practices. Drill intersections in this
release are all HQ3 (split tube) size core (61.1mm / 2.4-inch
diameter) with recoveries typically above 85%. After drilling, core
was logged for geology, structure and geotechnical characteristics,
marked for sampling, and photographed on site. The cores for
analyses were marked for sampling based on geological intervals
with individual samples 1.5 m or less in length. Drill core
from the Boundary Zone was cut lengthwise in half with a core saw;
half-core was sent for assays reported in this news release, and
the other half is stored on site for reference. Bulk density was
determined on site for the entire length of each sample assayed by
measurement of mass in air and mass in water. Sample duplicate bulk
density determinations and in-house bulk density standard
determinations were each made at a rate of 5%. Since 2017, four
in-house bulk density standards (mineralized drill core from the
Tom deposit that span a range of densities) have been used and show
an acceptable long-term precision. Certified standard masses are
used to calibrate the scale balance used for bulk density
determinations.
A total of 5% assay standards or blanks and 5%
core duplicates are included in the sample stream as a quality
control measure and are reviewed after analyses are received.
Standards and blanks in 2020 drill results to date have been
approved as acceptable. Duplicate data add to the long-term
estimates of precision for assay data on the project and precision
for drill results reported is deemed to be within acceptable
levels. Samples were sent to the Bureau Veritas preparation
laboratory in Whitehorse, Yukon, where the samples were crushed and
a 500 g split was sent to the Bureau Veritas laboratory in
Vancouver, B.C to be pulverized to 85% passing 200 mesh size pulps.
Clean crush material was passed through the crusher and clean
silica was pulverized between each sample. The pulps were analyzed
by 1:1:1 Aqua Regia digestion followed by Inductively Coupled
Plasma Mass Spectrometry (ICP-ES/ICP-MS) multi-element analyses (BV
Code AQ270). All samples were also analyzed for multiple elements
by lithium borate fusion and X-ray fluorescence analysis (XRF)
finish (BV Code LF725). Over-limit Pb (>25.0%) and Zn
(>24.0%) were analyzed by lithium borate fusion with XRF finish
(BV Code LF726). Silver is reported in this news release by method
AQ270, and zinc and lead are reported by LF725 or LF726. Bureau
Veritas (Vancouver) is an independent, international ISO/IEC
17025:2005 accredited laboratory.
Results in this news release are length and
bulk-density weighted averages as would be used in a Mineral
Resource estimate. Readers are cautioned that in Fireweed news
releases in prior years, only length weighted assay averages were
reported which may result in slightly lower (under reported)
average values. Length and bulk-density weighted averages have been
reported as these most accurately represent the average
metal-content of the intersections.
Qualified Person StatementTechnical information in this news
release has been approved by Gilles Dessureau, P.Geo, Vice
President Exploration and a ‘Qualified Person’ as defined under
Canadian National Instrument 43-101.
About Fireweed Zinc Ltd. (TSXV:
FWZ): Fireweed Zinc is a public mineral exploration
company focused on zinc and managed by a veteran team of mining
industry professionals. The Company is advancing its district-scale
940 km2 Macmillan Pass Project in Yukon, Canada, which is host to
the 100% owned Tom and Jason zinc-lead-silver deposits with current
Mineral Resources and a PEA economic study (see Fireweed news
releases dated January 10, 2018, and May 23, 2018, respectively,
and reports filed on www.sedar.com for details) 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. The project also includes large blocks of
adjacent claims (MAC, MC, MP, Jerry, BR, NS, Oro, Sol, Ben, and
Stump) which cover exploration targets in the district where
previous and recent work identified zinc, lead and silver
prospects, and geophysical and geochemical anomalies in prospective
host geology.
Additional information about Fireweed Zinc and
its Macmillan Pass Zinc Project including maps and drill sections
can be found on the Company’s website at www.FireweedZinc.com and
at www.sedar.com.
ON BEHALF OF FIREWEED ZINC
LTD.
“Brandon Macdonald”
CEO & Director
Contact: Brandon MacdonaldPhone:
604-646-8361
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Cautionary StatementsThis news
release may contain “forward-looking” statements and information
relating to the Company and the Macmillan Pass Project that are
based on the beliefs of Company management, as well as assumptions
made by and information currently available to Company management.
Such statements reflect the current risks, uncertainties and
assumptions related to certain factors including but not limited
to, without limitations, exploration and development risks,
expenditure and financing requirements, general economic
conditions, changes in financial markets, the ability to properly
and efficiently staff the Company’s operations, the sufficiency of
working capital and funding for continued operations, title
matters, First Nations relations, operating hazards, political and
economic factors, competitive factors, metal prices, relationships
with vendors and strategic partners, governmental regulations and
oversight, permitting, seasonality and weather, technological
change, industry practices, and one-time events. Additional risks
are set out in the Company’s prospectus dated May 9, 2017, and
filed under the Company’s profile on SEDAR at www.sedar.com. Should
any one or more risks or uncertainties materialize or change, or
should any underlying assumptions prove incorrect, actual results
and forward-looking statements may vary materially from those
described herein. The Company does not undertake to update
forward‐looking statements or forward‐looking information, except
as required by law.
Footnotes:
- Historic results
for the Boundary Zone reported in this news release are taken from
historic reports prepared by previous operators. Neither the
Company or the Qualified Person has done sufficient work to verify
these results and therefore these results should not be relied
upon. The Company is including them for information purposes to
explain the basis for the exploration target and reasons for
drilling.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3e2362a7-260c-47c9-891c-4a0559f72e88
https://www.globenewswire.com/NewsRoom/AttachmentNg/a74a8d6f-35fe-4fe5-a6b8-ce1a1c96e77b
https://www.globenewswire.com/NewsRoom/AttachmentNg/746d7d07-c13b-4564-8e6f-d3923a1f0ed5
|
Table 3: 2020 drill
hole collar data. |
|
Diamond Drill Hole Collars |
|
Drill Hole |
Length (m) |
Zone |
Easting* |
Northing* |
Elevation (m) |
Dip (°) |
Grid Azimuth (°) |
NB20-001 |
303.5 |
Boundary Zone |
422440 |
7010418 |
1164 |
-54 |
270 |
NB20-002 |
320.0 |
Boundary Zone |
422336 |
7010329 |
1132 |
-50 |
020 |
NB20-003 |
152.0 |
Boundary Zone |
421557 |
7010456 |
1200 |
-50 |
185 |
NB20-004 |
333.0 |
Boundary Zone |
422049 |
7010614 |
1218 |
-50 |
215 |
NB20-005 |
143.0 |
Boundary Zone |
422277 |
7010313 |
1129 |
-50 |
215 |
NB20-006 |
203.0 |
Boundary Zone |
422277 |
7010313 |
1129 |
-80 |
215 |
NB20-007 |
90.0 |
Boundary Zone |
421951 |
7010538 |
1200 |
-70 |
215 |
NB20-008 |
324.0 |
Boundary Zone |
422216 |
7010354 |
1139 |
-50 |
215 |
NB20-009 |
447.2 |
Boundary Zone |
421951 |
7010538 |
1200 |
-75 |
215 |
MP20-001 |
632.0 |
240 Mile |
438698 |
7003094 |
1311 |
-60 |
295 |
*UTM Zone 9 NAD83
Reverse Circulation (RC) Drill Hole Collars
Drill Hole |
Length (m) |
Zone |
Easting* |
Northing* |
Elevation (m) |
Dip (°) |
Grid Azimuth (°) |
TRC20-001 |
7.6 |
Tom West |
442065 |
7003667 |
1547 |
-50 |
066 |
TRC20-002 |
82.3 |
Tom West |
442071 |
7003663 |
1547 |
-80 |
066 |
TRC20-003 |
64.0 |
Tom West |
442071 |
7003663 |
1547 |
-55 |
066 |
TRC20-004 |
64.0 |
Tom West |
442071 |
7003663 |
1547 |
-70 |
089 |
TRC20-005 |
47.2 |
Tom West |
442071 |
7003663 |
1547 |
-55 |
129 |
TRC20-006 |
36.6 |
Tom West |
442049 |
7003678 |
1545 |
-80 |
065 |
TRC20-007 |
98.45 |
Tom North |
441654 |
7004507 |
1422 |
-51 |
076 |
JRC20-001 |
47.24 |
Jason Main |
436437 |
7002774 |
1298 |
-50 |
027 |
JRC20-002 |
59.44 |
Jason Main |
436533 |
7002772 |
1300 |
-65 |
011 |
*UTM Zone 9 NAD83
Table 4: 2020 drill hole results and observations. |
|
Diamond Drill Hole Descriptions – assays pending where noted. |
|
Drill Hole |
Length (m) |
Zone |
Target |
Results and Observations |
NB20-001 |
303.5 |
Boundary Zone |
BZ core infill |
Wide zone encountered. Results reported in prior news release. |
NB20-002 |
320.0 |
Boundary Zone |
BZ core infill/step-out |
Wide zone encountered. Hole abandoned at 320 m in mineralization
due to drilling problems. Results reported in prior news
release. |
NB20-003 |
152.0 |
Boundary Zone |
Gravity high anomaly ~800 m west of BZ |
No significant mineralization. Gravity anomaly explained by dense
sedimentary rock unit |
NB20-004 |
333.0 |
Boundary Zone |
Gravity high anomaly 360 m west of BZ |
Wide zone encountered. Reported in this news release. |
NB20-005 |
143.0 |
Boundary Zone |
BZ step-out to south |
No significant mineralization. |
NB20-006 |
203.0 |
Boundary Zone |
BZ step-out to south |
Minor mineralization encountered. |
NB20-007 |
90.0 |
Boundary Zone |
Gravity high 360 m W of BZ |
Hole abandoned due to drilling problems and re-drilled as
NB20-009. |
NB20-008 |
324.0 |
Boundary Zone |
Gravity high anomaly 200 m west of BZ and step-out 80 m west
of previous drilling |
Wide zone encountered. Assays pending. |
NB20-009 |
447.2 |
Boundary Zone |
Gravity high anomaly 360 m W of BZ |
Wide zone encountered. Assays pending. |
MP20-001 |
632.0 |
240 Mile Target |
Gravity high anomaly between the Tom and Jason deposits |
Hole suspended before reaching target horizon; casing left in place
to allow resumption of drilling next season. |
Reverse Circulation (RC) Drill Hole Descriptions – assays
pending.
Drill Hole |
Length (m) |
Zone |
Target |
Results and Observations |
TRC20-001 |
7.6 |
Tom West |
Infill |
Hole abandoned at casing due to drilling problems |
TRC20-002 |
82.3 |
Tom West |
Infill |
Tom West zone intersected. Assays pending. |
TRC20-003 |
64.0 |
Tom West |
Infill |
Tom West zone intersected Assays pending. |
TRC20-004 |
64.0 |
Tom West |
Twin of historic hole |
Successful twin with good recovery. Assays pending. |
TRC20-005 |
47.2 |
Tom West |
Step-out |
Hole abandoned before target depth due to drilling problems |
TRC20-006 |
36.6 |
Tom West |
Infill |
Hole abandoned before target depth due to drilling problems |
TRC20-007 |
98.45 |
Tom North |
Infill |
Tom North zone intersected. Assays pending. |
JRC20-001 |
47.24 |
Jason Main |
Infill |
Jason Main zone intersected. Assays pending. |
JRC20-002 |
59.44 |
Jason Main |
Infill |
Jason Main zone intersected. Hole abandoned in mineralization.
Assays pending. |
Fireweed Metals (TSXV:FWZ)
Historical Stock Chart
From Mar 2024 to Apr 2024
Fireweed Metals (TSXV:FWZ)
Historical Stock Chart
From Apr 2023 to Apr 2024