FIREWEED ZINC LTD. (“Fireweed”) (TSXV: FWZ) is pleased to announce
the results from the first drill hole at Boundary West for the 2021
Macmillan Pass zinc-lead-silver project drill program, Yukon,
Canada.
Highlights
- The first hole of the season,
NB21-001 at Boundary Zone West, intersected 46.96 m of 7.71% zinc,
0.70% lead, and 32.1 g/t silver.
- This intersection included a very
high-grade section of 0.9 m grading 46.50% Zn, 11.54% Pb, and 117.3
g/t silver of stratiform, laminated mineralization similar in style
to the Tom-Jason deposits.
- In addition, a new zone of
stratiform zinc-lead-silver mineralization has been discovered high
in the upper sequence at Boundary West.
- Significant widths of
pyrite-sphalerite-galena mineralization have been intersected in
other step-out holes at Boundary West.
- Two diamond rigs continue drilling
in the Boundary Zone area. Eight diamond drill holes have been
completed so far, totalling 2,700 m.
- An 84 line-km ground gravity
geophysical survey is complete.
- A soil geochemical survey is
underway following up on preliminary ground gravity anomalies.
CEO Statement
Brandon Macdonald, CEO, stated “The first step-out hole at
Boundary West has demonstrated continuity and an increase in grade
of the massive sulphides in the upper sequence compared to the
intersection in the discovery hole drilled in 2020. The presence of
extremely high-grade Tom-Jason style mineralization above the
massive sulphide is very encouraging. We are using the geology to
vector towards the feeder-structure, where high zinc, lead, and
silver grades are anticipated. We continue to advance these
discoveries with two rigs now turning at Boundary Zone”.
Boundary Zone Drilling
At Boundary West (Map 1, Map 2), diamond drill hole NB21-001
intersected laminated sphalerite-galena-pyrite-barite
mineralization similar in style to mineralization at the Tom and
Jason deposits, as well as vein-hosted and massive sulphide
mineralization. The laminated interval graded 30.95% zinc, 7.60%
lead, and 77.8 g/t silver over 1.67 m including 46.50% zinc, 11.54%
lead, and 117.3 g/t silver over 0.9 m (Cross Section 1). Below the
laminated mineralization the hole intersected a sequence of massive
sulphide, semi-massive sulphide and vein-hosted mineralization
grading 7.46% zinc, 0.47% lead, and 32.9 g/t silver over 40.44 m.
The intersected intervals of laminated mineralization and massive
to semi-massive sulphides have high bulk densities (Table 1).
Multiple intervals of vein-hosted mineralization were intersected
at shallower depths in the hole (Table 1).
A new additional zone of laminated mineralization was also
discovered in NB21-001, high in the upper sequence grading 2.63%
zinc, 0.26% lead, and 13.2 g/t silver over 13.45 m. A higher-grade
portion of this interval returned 9.28% zinc, 0.28% lead, and 29.6
g/t silver over 2.66 m including a semi-massive sulphide interval
grading 19.35% zinc, 0.29% lead and 42.8 g/t silver over 0.9 m. The
new zone of mineralization comprises fine-grained
sphalerite-galena-pyrite with semi-massive sphalerite-pyrite near
the base. The upper contact of the new zone of mineralization in
NB21-001 is marked by a fault, consistent with a thicker, more
complete intersection of this zone in NB21-002 that appeared better
mineralized than in NB21-001.
Table 1: NB21-001 drill hole results
Drill Hole |
From (m) |
To (m) |
IntersectedWidth
(m)1 |
Zinc (%) |
Lead (%) |
Silver (g/t) |
Bulk Density
(t/m3) |
Mineralization Style |
NB21-001 |
76.45 |
79.5 |
3.05 |
3.88 |
0.04 |
8.6 |
2.90 |
Vein-hosted |
NB21-001 |
93.5 |
95.09 |
1.59 |
2.79 |
0.02 |
4.9 |
2.78 |
Vein-hosted |
NB21-001 |
101.5 |
108.88 |
7.38 |
2.27 |
0.01 |
2.6 |
2.87 |
Vein-hosted |
NB21-001 |
116.05 |
129.5 |
13.45 |
2.63 |
0.26 |
13.2 |
2.88 |
Laminated |
>including |
116.05 |
118.71 |
2.66 |
9.28 |
0.28 |
29.6 |
2.99 |
Laminated |
>>including |
116.05 |
116.95 |
0.9 |
19.35 |
0.29 |
42.8 |
3.35 |
Semi-massive sulphide |
NB21-001 |
187.25 |
234.21 |
46.96 |
7.71 |
0.70 |
32.1 |
3.52 |
Stratiform |
>including |
187.25 |
188.92 |
1.67 |
30.95 |
7.60 |
77.8 |
3.70 |
Laminated |
>>including |
187.25 |
188.15 |
0.9 |
46.50 |
11.54 |
117.3 |
4.13 |
Laminated |
>and |
193.77 |
234.21 |
40.44 |
7.46 |
0.47 |
32.9 |
3.58 |
Massive and semi-massive sulphide |
>>including |
193.77 |
215.35 |
21.58 |
10.11 |
0.64 |
44.0 |
4.05 |
Massive Sulphide |
1True widths of stratiform, laminated mineralization, and
semi-massive or massive sulphide mineralization are estimated to be
approximately 50 to 60% of intersected widths. Vein-hosted
mineralization is interpreted to be a stockwork style, similar to
Boundary Main, with an undetermined true thickness.
Drilling and Exploration Update
The 2021 drill program has completed eight holes (2,750 m) to
date and drilling continues with two rigs. Mineralization has been
intersected in every hole at Boundary Zone and Boundary West so
far, including wide zones of massive sulphides in holes NB21-002,
NB21-003 and NB21-004 (Table 2). Mineralization was also
intersected in a hole completed at Tom East, TS21-001 (Map 3).
Collar details are provided in Table 3.
The ground gravity geophysical survey has been completed for a
total of 84 line-km comprising surveys over the Eleven, Kobuk,
Imperial and Corvus areas (Map 4). A soil geochemical survey has
been initiated over gravity highs evident in the preliminary
gravity data, focusing on the Kobuk area where there has been no
historic soil sampling.
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, then 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 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 2021 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 Xray 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 prior to 2020, 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.
Clarification on Recent Private Placement Dates
Further to the Company’s news release dated July 2, 2021,
securities under the private placement were issued July 6, 2021 and
the Exchange hold period ends November 7, 2021.
Qualified Person Statement
Technical information in this news release has been approved by
Jack Milton, P.Geo., Ph.D., Chief Geologist and a ‘Qualified
Person’ as defined under Canadian National Instrument 43101.
About Fireweed Zinc Ltd. (TSXV:
FWZ): Fireweed Zinc is a public mineral exploration
company focused on zinc-lead-silver 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 Statements
This 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, pandemics, 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.
Map 1: Location of Macmillan Pass deposits and
exploration targets is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b8bf1179-7da5-4a3c-baf0-589c92602e56.
Map 2: Boundary Zone 2021 drilling and location
of cross section B-B’ is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4225960c-46e1-4e72-b9b4-329062588de4.
Cross Section 1: Boundary West geology and assay
results is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/02ac5dca-4e25-4a3c-8299-9fc3e688c72a.
Map 3: Tom East 2021 drilling is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/63b28791-0360-4a91-805d-eed6b4513a9f.
Map 4: Outlines of completed 2021 ground gravity
survey areas and results of previous 2018-2020 gravity surveys
(first vertical derivative of the Total Bouguer Anomaly) is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9e81e79c-0167-44fc-ba91-c77101421991.
Table 2: 2021 drill hole results and
observations.
Drill Hole |
Length (m) |
Zone |
Target |
Results and Observations |
NB21-001 |
277.0 |
Boundary West |
BZW down-dip extension |
See Table 1 above for assay results. |
NB21-002 |
439.0 |
Boundary West |
BZW down-dip extension |
Wide zone encountered. Assays pending. |
NB21-003 |
189.0 |
Boundary West |
BZW step-out to west |
Wide zone encountered. Assays pending. |
NB21-004 |
382.7 |
Boundary West |
BZW step-out to west |
Wide zone encountered. Assays pending. |
TS21-001 |
402.7 |
Tom East |
Tom East infill |
Wide zone encountered. Assays pending. |
TS21-002 |
46.0 |
Tom East |
Tom East step-out |
Hole ended early due to drilling problems and redrilled as
TS21-003. |
TS21-003 |
401.5 |
Tom East |
Tom East step-out |
No mineralization encountered. |
NB21-005 |
In progress |
Boundary Main |
BZ down-dip extension |
Drilling in progress. |
NB21-006 |
157.2 |
Boundary West |
BZW step-out to east |
Narrow zone encountered. Assays pending. |
NB21-007 |
In progress |
Boundary West |
BZW step-out to east |
Drilling in progress. |
Table 3: 2021 drill collar details
Drill Hole |
Length (m) |
Zone |
Easting* |
Northing* |
Elevation (m) |
Dip (°) |
Grid Azimuth (°) |
NB21-001 |
277.0 |
Boundary West |
422049 |
7010614 |
1218 |
-65 |
211 |
NB21-002 |
439.0 |
Boundary West |
422049 |
7010614 |
1218 |
-75 |
212 |
NB21-003 |
189.0 |
Boundary West |
421927 |
7010637 |
1225 |
-50 |
211 |
NB21-004 |
382.7 |
Boundary West |
421927 |
7010637 |
1225 |
-75 |
211 |
TS21-001 |
402.7 |
Tom East |
442063 |
7004323 |
1679 |
-82 |
060 |
TS21-002 |
46.0 |
Tom East |
442197 |
7004428 |
1688 |
-89 |
236 |
TS21-003 |
401.5 |
Tom East |
442197 |
7004429 |
1688 |
-89 |
236 |
NB21-005 |
In progress |
Boundary Main |
422394 |
7010555 |
1205 |
-75 |
211 |
NB21-006 |
157.2 |
Boundary West |
422077 |
7010506 |
1186 |
-50 |
225 |
NB21-007 |
In progress |
Boundary West |
422077 |
7010506 |
1186 |
-70 |
225 |
*UTM Zone 9 NAD83
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