Fireweed begins 2021 drilling program at Macmillan Pass

VANCOUVER, British Columbia, July 6, 2021 (GLOBE NEWSWIRE) – FIREWEED ZINC LTD. (“Fireweed”) (TSXV: FWZ) is pleased to announce that the 2021 diamond drill program has begun at the Macmillan Pass Zinc-Lead-Silver Project in Yukon, Canada.

Strong points

  • Two diamond drill rigs have started drilling at Macmillan Pass.
  • Drilling will focus on the Boundary Zone and follow-up drill testing of last season’s Boundary West discovery.
  • The holes at Tom East and Jason South will include outflows of existing mineral resources and allow the deployment of detectors for borehole muon tomography surveys in locations with favorable soil conditions.

CEO statement

Brandon Macdonald, CEO, said: “We are delighted that the drills are running again in Boundary Zone and in particular at the new Boundary West discovery at the end of last season. This drilling program will allow us both to further test the extent of the main zones of mineralization as well as to explore the potential of new targets. The planned drilling will allow us to prove our new discovery and expand into known areas that are still open for expansion. “

Drilling of the border zone

The diamond drilling program has started with the first holes targeting extensions around the 2020 discovery, Boundary Zone West, 300m west of Boundary Zone. Highlights of the 2020 drilling include hole NB20-004 west of the Boundary zone, which intersected 76.5 m of 4.22% zinc (Zn), 0.34% lead (Pb) and 25.6 g / t silver (Ag) including 24.1 m of 6.46% Zn, 0.77% Pb and 47.5 g / t Ag within 90 m of vertical depth of the surface (see the press releases of press on fireweed on February 3, 2021 and February 25, 2021).

Zinc-lead-silver mineralization in the Boundary Zone area occurs in several styles including: a high grade stratiform barite replacement similar in style to the mineralization seen at Tom and Jason; high grade sphalerite-pyrite-galena veins and breccias; and stratiform zinc mineralization in host rocks of the same age as the giant Howard’s Pass deposits. Zinc mineralization has been demonstrated for approximately 2 km laterally in previous historic and Fireweed drilling. The diversity of styles of mineralization and the large zone endowed with zinc mineralization suggest that the Boundary Zone formed as part of a long-lived hydrothermal system that experienced multiple pulses of mineralization. Drilling at Boundary Zone and Boundary West will include extension holes to better understand the grade, geometry and continuity of mineralization within what already appears to be a large hydrothermal system.

Tom Drilling East

Two drill holes are planned at Tom East, a high grade zone with a current mineral resource of 0.81 Mt at 8.74% Zn, 8.62% Pb and 110.0 g / t Ag of the additional indicated resource. of 1.68 Mt at 9.86% Zn, 12.86 Inferred resources% Pb and 170.0 g / t Ag (see fireweed press releases of January 10e, 2018, and the reports tabled on www.sedar.com for details). In 2018, Fireweed drilled a very high grade extension hole at Tom East in an area outside of current mineral resources, intersecting 16.41 m of 21.1% Zn, 13.5% Pb and 243, 0 g / t Ag (see Fireweed press release dated September 20e, 2018) in an interval containing the dense minerals galena-sphalerite-barite-pyrite-pyrrhotite. The two planned holes at Tom East will add definition to this high grade zone and will aim to facilitate a borehole muon survey to determine if a dense 3D body can be imaged around this extended intersection to better target the follow-up drilling (see Fireweed press release of May 27e, 2021 for details of the borehole muon tomography survey).

Jason South Drilling

An extension hole is planned at Jason South to test the fault shift exploration target, outside the current Jason South inferred mineral resource of 8.93 Mt at 4.41% Zn, 5.28% Pb and 68.0 g / t Ag (see fireweed press releases dated January 10e, 2018, and the reports tabled on www.sedar.com for details). In this Lower Jason South exploration target, historic drill hole JS82-086 intersected 13.8 m of 7.2% Zn, 5.3% Pb, 118 g / t Ag in addition to 9.2 m 1.6 % Zn, 16.5% Pb, 92 g / t Ag and its wedge hole JS82-086W1 intersected 27.3 m of 8.0% Pb, 58 g / t Ag, 0.07% Zn. This planned hole is optimally placed to allow the potential deployment of muon detectors to image the density of the exploration target to better guide the follow-up drill holes.

Additional exploration work

A geological mapping program as well as geophysical surveys will support the assessment of regional targets in the context of the 2020 discovery of mineralization hosted in rocks of the same age as those of the large Howard’s Pass deposit to the southeast. This new wave of zinc-lead-silver exploration in the district will examine research space that has been previously overlooked and represents significant opportunities for further discoveries.

Qualified Person Declaration

The technical information contained in this press release has been approved by Jack Milton, P.Geo., Ph.D., Chief Geologist and a “qualified person” within the meaning of National Instrument 43-101.

About Fireweed Zinc Ltd. (TSXV: FWZ): Fireweed Zinc is a state-owned zinc-lead-silver mining exploration company managed by a seasoned team of mining industry professionals. The Society advances its district to the scale of 940 km2 Macmillan Pass Project in Yukon, Canada, which is home to the 100% owned Tom and Jason zinc-lead-silver deposits with current mineral resources and a PEA economic study (see Fireweed press releases dated January 10, 2018 and 23 May 2018, respectively, and the reports filed on www.sedar.com for more details) as well as the Boundary Zone, the Tom North Zone and the End Zone which have significant zinc-lead-silver mineralization drilled but not yet classified as a mineral resource. The project also includes large adjacent claim blocks (MAC, MC, MP, Jerry, BR, NS, Oro, Sol, Ben and Stump) that cover exploration targets in the district where previous and recent work has identified zinc, lead and silver leads. , and geophysical and geochemical anomalies in the geology of the potential host.

Additional information on Fireweed Zinc and its Macmillan Pass Zinc project, including maps and drill sections, is available on the company’s website at www.FireweedZinc.com and to www.sedar.com.

ON BEHALF OF FIREWEED ZINC LTD.

Brandon macdonald

Brandon macdonald
CEO and director
Telephone: (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.

Warnings

This press release may contain “forward-looking” statements and information relating to the Company and the Macmillan Pass project which are based on the beliefs of the management of the Company, as well as assumptions made by and information currently available to management. of the society. These statements reflect current risks, uncertainties and assumptions relating to certain factors, including, but not limited to, exploration and development risks, expenses and financing requirements, general economic conditions, changes in financial markets, pandemics, the ability to properly and efficiently staff the Company’s operations, the adequacy of working capital and funding for continued operations, title issues, relations with First Nations, operational risks, political and economic factors, competitive factors, metal prices, relationships with suppliers and strategic partners, government regulations and oversight, enabling, seasonality and weather, technological change, operating practices industry and one-off 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. If one or more risks or uncertainties materialize or change, or if underlying assumptions prove to be incorrect, actual results and forward-looking statements may differ materially from those described in this document. The Company does not undertake to update any forward-looking statements or forward-looking information, except as required by law.

Map 1: The location of the Macmillan Pass deposits and exploration targets is available on https://www.globenewswire.com/NewsRoom/AttachmentNg/974cd0ca-fecb-42c4-8cbb-e4cfd082c6d7.

Main logo


Source link

Comments are closed.