FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ;
OTCQB: FWEDF; FSE: M0G) is pleased to provide a review of its
record-setting 2023 accomplishments in building the Company and
advancing its critical metals projects in northern Canada.
CEO and Chairman Statement
Brandon Macdonald, CEO, stated “2023 has been
another extraordinary and record-breaking year for Fireweed. The
accomplishments are numerous, from drilling our best-ever drill
hole at Macpass to completing the field season safely with zero
lost time injuries. We have done this while demonstrating that
prioritizing economic benefit for and respectful engagement with
local indigenous communities not only requires no compromise for
the Company but also helps maximize our own outcomes.”
John Robins, Chairman, stated “We continue to
demonstrate the enormous scale of mineralization in the Macpass
region of eastern Yukon which is has emerged now as a truly
world-class metallogenic district. If it wasn’t enough that we
control Macpass, a 940 sq km land package representing over 50 km
of strike prospective for zinc-lead-silver deposits, we have now
secured the world’s largest high-grade tungsten deposit next-door
in Mactung. I am incredibly proud of our team for their tireless
work this year at our office, in the field, and the many long days
on the road.”
2023 Highlights
Macpass Project
-
In 2023 Fireweed completed its largest ever program and the biggest
exploration program in the Yukon this year. Over 22,500 m were
drilled with step out holes to further delineate the Boundary Zone
and to expand the large Tom and Jason zinc-lead-silver
deposits1,2.
-
Drill results to date from the 2023 season demonstrated the
presence of a high-grade massive sulphides and stratiform
mineralization as well as a high-grade feeder system which connects
Boundary West and Boundary Main in one single zone, (now simply
called Boundary Zone).
-
Drill results in 2023 included the best hole ever drilled at
Macpass, NB23-007 with two intersections: 15 m (true width) of
11.9% Zinc, 2.2% Lead, 81.2 g/t Silver, and 40 m (true width) of
15.1% Zinc, 2.8% Lead, 85.8 g/t Silver.
-
Assays pending for 26 of 52 holes drilled: 14 remaining holes from
Boundary Zone, 10 holes from the Tom deposit and 2 holes from the
Jason deposit with results expected to be released in
early-2024.
-
Leveraged emerging technologies to enhance operational efficiency
and data interpretation / validation including:
-
Automated core cutting
-
Automated core scanning
-
Directional drilling techniques, in which multiple angled drill
holes are initiated at depth from one primary hole, saved an
estimated 1,800 m of drilling compared to traditional drilling of
multiple new holes from surface, achieving a total equivalent
metreage of 24,300 m in 2023.
-
Constructed all-season camp facilities, increasing operational
capacity and extending operating window.
Mactung Project
-
Finalized acquisition of 100% interest in the 37.6 km2 Mactung
Project located in Yukon and Northwest Territories, immediately
adjacent to the Macpass Project.
-
In July 2023, released a Technical Report with an updated mineral
resource with a total of 41.5 Mt Indicated Resource at 0.73% WO3
and 12.2 Mt Inferred Resource at 0.59% WO33 making it the world’s
largest high-grade resource of the Critical Mineral tungsten*.
-
Building on information provided during the Yukon Environmental and
Socio-economic assessment process (completed in 2014), Fireweed
commenced environmental, metallurgical and other engineering
studies to inform applications for major project licenses.
-
Five holes were drilled to collect metallurgical samples in 2023.
The results of the metallurgical test work are expected in Q1
2024.
Gayna Project
-
Reevaluation of the geological model demonstrates the potential for
high-grade massive sulphide zones
-
Soil sampling and geophysical work has linked Gayna's geological
setting and mineralization to be similar to that of a reef-margin
deposit like Ivanho's high-grade Kipushi in DRC, Africa
-
The 2022 and 2023 geophysical programs have identified several
reef-margin gravity anomalies in proximity to known showings, soil
anomalies and high grade rock samples, and informed the location of
future drill targets.
Sustainability Update
-
Environmental management system, including policies, environmental
protection and management plans, and compliance monitoring,
implemented in 2023 by onsite Indigenous environmental
monitors.
-
To inform mine planning, Fireweed commenced multi-year
comprehensive environmental baseline studies, including 16 unique
aquatic and wildlife studies.
-
To support 2023 exploration and monitoring activities,
approximately 50% of employees were Yukoners, including about 50
Kaska Nation members ranging in age from 18 to 78.
-
Excellent safety performance during large drill exploration program
with five drills and compliance and baseline studies with:
-
0 Lost Time Injuries across 127,000 hours worked
-
880 Field-level Risk Assessments
-
21 All-personnel “Safety Sunday” Meetings
-
In the past five exploration seasons, about 50% of field program
expenditures (supplies, equipment and services) with
Indigenous-affiliated businesses.
-
Achieved net zero emissions for 2021 and 2022 through the purchase
of offsets, and installed solar and battery power system for new
camp that will be operational in 2024.
-
Supported community sporting and cultural events and facilitated
in-community training programs.
Corporate
-
Completed a C$16.8 M follow-on financing in September 2023 to
support the expansion of our drilling campaign through the
continued support from core shareholders.
-
The highly talented and skilled Fireweed Exploration Team lead by
VP Geology, Jack Milton, were recipients of the 2023 H.H. “Spud”
Huestis Award from the Association for Mineral Exploration for
their application of progressive and innovative prospecting
techniques and geoscience technologies leading to the discovery of
Boundary West and expansion of significant mineral resources at
Macpass.
-
Achieved inclusion into the Junior Silver Miners Index on December
15, 2023 in recognition that Macpass is not just a zinc resource
but also contains a large silver endowment. This inclusion expands
our institutional shareholder base and drives a significant
increase in trading liquidity
-
Appointed Patrick “Paddy” Downey as our newest Board member:
Patrick has over 40 years of international experience in the
resource industry and his experience in engineering, mine-building,
and operations helps round out Fireweed’s Board, providing
essential expertise as Fireweed’s projects proceed down the path
toward development.
-
Expanded our Management Team:
-
Andrew Crook, VP Operations: Andrew has over 10 years of experience
in successfully leading projects from exploration stage through
engineering studies, permitting, and into construction. His skills
and experience were instrumental in executing Fireweed’s largest
drill program to date, exceeding 22,500 m.
-
Alex Campbell, VP Corporate Development: Alex’s diverse experience
from mining to banking, combined with his passion for the mineral
exploration industry, is an advantageous addition to Fireweed’s
management team as we continue to maximize shareholder value
through exploration, development, and potential strategic
transactions.
Qualified Person Statement
Technical information in this news release has
been approved by Fireweed Metals CEO, Brandon Macdonald, P.Geo.
(BC), a ‘Qualified Person’ as defined under Canadian National
Instrument 43-101.
About Fireweed Metals Corp. (TSXV: FWZ;
OTCQB: FWEDF; FSE: M0G): Fireweed Metals Corp. is a
Canadian mineral development company focused on sustainably
exploring and developing critical metal projects and creating value
for our shareholders, partners, and stakeholders. Fireweed has
three projects located in Canada including the Macpass Project
(Zinc-Lead-Silver), Mactung Project (Tungsten), and Gayna Project
(Zinc-Lead-Gallium-Germanium). Fireweed is well-funded, with a
healthy balance sheet. In Canada, Fireweed (TSXV: FWZ) trades on
the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF)
trades on the OTCQB Venture Market for early stage and developing
U.S. and international companies and is DTC eligible for enhanced
electronic clearing and settlement. Investors can find Real-Time
quotes and market information for the Company on
www.otcmarkets.com. In Europe, Fireweed (FSE: M0G) trades on the
Frankfurt Stock Exchange. Additional information about Fireweed and
its projects can be found on the Company’s website at
www.fireweedmetals.com and at www.sedarplus.ca
We respectfully acknowledge that Fireweed’s
projects are located on the traditional territories of Indigenous
peoples.
ON BEHALF OF FIREWEED METALS CORP.
“Brandon Macdonald”
CEO & Director
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
Forward Looking Statements
This news release contains “forward-looking”
statements and information (“forward-looking statements”). All
statements, other than statements of historical facts, included
herein, including, without limitation, statements relating to
interpretation of drill results, future work plans, the use of
funds, and the potential of the Company’s projects, are forward
looking statements. Forward-looking statements are frequently, but
not always, identified by words such as "expects”, "anticipates”,
"believes”, "intends”, "estimates”, "potential”, "possible”, and
similar expressions, or statements that events, conditions, or
results "will”, "may”, "could”, or "should” occur or be achieved.
Forward-looking statements are based on the beliefs of Company
management, as well as assumptions made by and information
currently available to Company management and reflect the beliefs,
opinions, and projections on the date the statements are made.
Forward-looking statements involve various risks and uncertainties
and accordingly, readers are advised not to place undue reliance on
forward-looking statements. There can be no assurance that such
statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from the Company's expectations include but are
not limited to, exploration and development risks, unanticipated
reclamation expenses, 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, uncertainties
involved in the interpretation of drilling results and laboratory
tests, and one-time events. The Company assumes no obligation to
update forward‐looking statements or beliefs, opinions, projections
or other factors, except as required by law.
Investors are cautioned that the drill
intersections that are compared to the current Mineral Resources
are not subject to any grade capping, and that grades in mineral
resource blocks were calculated based on interpolation between
assay composites that have capped grades. In the current Mineral
Resource at Tom West zinc was capped at 25%, lead was capped at
25%, and silver was capped at 600 g/t; and at Tom East zinc was
capped at 30%, lead capped at 50%, and silver at 600 g/t, as
described in Fireweed Technical Reports1,2. Grades in new holes
were compared to a length and bulk density weighted calculated
grade derived from a stack of blocks from the Current Mineral
Resource block model perpendicular to the XY plane of the block
model spanning the full thickness of the mineralized zone, located
through the mid-point of the reported new intersection.
Footnotes and References
* References to relative size and grade of the
Mactung resources and Macmillan Pass resources in comparison to
other tungsten and zinc deposits elsewhere in the world,
respectively, are based on review of the Standard & Poor’s
Global Market Intelligence Capital IQ database.
1: For details and QP statements, see
https://www.sedarplus.ca/ Fireweed Technical Report titled “NI
43-101 Technical Report on the Macmillan Pass Zinc-Lead-Silver
Project, Watson Lake and Mayo Mining Districts Yukon Territory,
Canada” filed on https://www.sedarplus.ca/ on February 23, 2018,
and Fireweed News Release dated January 10, 2018.
2: For details and QP statements, see
https://www.sedarplus.ca/ Fireweed Technical Report titled “NI
43-101 Technical Report Macmillan Pass Project Yukon Territory
Canada” filed on https://www.sedarplus.ca/ on July 9, 2018, and
Fireweed News Release dated May 23, 2018. This Technical Report
includes a Preliminary Economic Analysis disclosing an economic
analysis of mineral resources that is preliminary in nature and
does not include any mineral reserves. It is equally emphasized
that the mineral resources disclosed within this Technical Report
are not mineral reserves and do not have demonstrated economic
viability.
3: For details and QP statements, see Fireweed
news release dated June 13, 2023 “Fireweed Metals Announces Mineral
Resources for the Mactung Project: the Largest High-Grade Tungsten
Deposit in the World” and the technical report entitled “NI 43-101
Technical Report, Mactung Project, Yukon Territory, Canada,” with
effective date July 28, 2023 filed on
https://www.sedarplus.ca/
Contact: Brandon MacdonaldPhone: (604)
646-8361Email: info@fireweedmetals.com
Figure 1. Project Location
Map
Figure 2. Macpass and Mactung Area
Map
Table 1. Compiled Boundary Zone Drill
Results Highlights to Date
Drillhole |
Interval |
From (m) |
To (m) |
Interval Width (m) |
Est. True Width (m) |
Zinc (%) |
Lead (%) |
Silver (g/t) |
Bulk Density
(t/m3) |
NB23-001 |
primary |
173.00 |
211.00 |
38.00 |
19.0 |
9.12 |
1.50 |
52.6 |
3.04 |
NB23-001 |
including |
174.00 |
194.00 |
20.00 |
10.0 |
15.32 |
2.53 |
86.2 |
3.18 |
NB23-001 |
primary |
377.00 |
445.73 |
68.73 |
22.5 |
3.28 |
0.15 |
9.1 |
3.24 |
NB23-001 |
including |
400.50 |
418.50 |
18.00 |
5.9 |
6.73 |
0.06 |
8.6 |
2.87 |
NB23-001 |
>including |
405.00 |
408.00 |
3.00 |
1.0 |
9.13 |
0.10 |
15.6 |
3.00 |
NB23-002 |
primary |
224.74 |
261.00 |
36.26 |
N/A |
3.31 |
0.08 |
10.2 |
3.03 |
NB23-002 |
including* |
226.00 |
230.20 |
4.20 |
2.1 |
18.71 |
0.30 |
47.1 |
3.41 |
NB23-003 |
primary |
208.00 |
279.89 |
71.89 |
40.0 |
6.48 |
3.09 |
97.8 |
4.40 |
NB23-003 |
including |
210.60 |
258.25 |
47.65 |
27.0 |
8.58 |
4.29 |
128.5 |
4.56 |
NB23-003 |
>including |
210.60 |
232.56 |
21.96 |
12.0 |
10.70 |
6.96 |
178.6 |
4.46 |
NB23-003 |
>and |
241.50 |
244.50 |
3.00 |
1.7 |
17.50 |
3.05 |
134.9 |
4.68 |
NB23-004 |
Primary |
267.92 |
301.35 |
33.43 |
22.0 |
8.00 |
2.00 |
59.2 |
3.57 |
NB23-004 |
Including |
267.92 |
281.80 |
13.88 |
9.1 |
12.60 |
3.70 |
99.4 |
4.29 |
NB23-004 |
>including |
268.80 |
277.06 |
8.26 |
5.4 |
14.90 |
4.50 |
124.8 |
4.47 |
NB23-005 |
Primary |
139.75 |
165.00 |
25.25 |
22.0 |
6.40 |
0.70 |
31.9 |
3.24 |
NB23-005 |
>including |
150.50 |
160.00 |
9.50 |
8.3 |
12.20 |
1.30 |
66.9 |
3.65 |
NB23-006 |
Primary |
102.20 |
140.90 |
38.70 |
N/A |
5.60 |
0.00 |
6.7 |
2.83 |
NB23-006 |
>including* |
121.36 |
123.46 |
2.10 |
N/A |
30.70 |
0.10 |
38.8 |
3.62 |
NB23-007 |
Primary |
170.70 |
253.20 |
82.50 |
15.0 |
11.90 |
2.20 |
81.2 |
3.15 |
NB23-007 |
>including |
180.89 |
207.92 |
27.03 |
4.9 |
26.70 |
4.20 |
165.2 |
3.49 |
NB23-007 |
Primary |
308.90 |
426.90 |
118.00 |
40.0 |
15.10 |
2.80 |
85.8 |
4.04 |
NB23-007 |
>including |
313.70 |
325.03 |
11.33 |
3.8 |
15.00 |
3.70 |
96.1 |
4.21 |
NB23-007 |
>including |
332.30 |
409.37 |
77.07 |
26.0 |
18.70 |
3.50 |
101.4 |
4.00 |
NB23-008 |
Primary |
242.20 |
286.90 |
44.70 |
N/A |
6.50 |
0.20 |
9.6 |
3.48 |
NB23-008 |
>including |
252.00 |
268.30 |
16.30 |
N/A |
10.30 |
0.20 |
11.3 |
3.64 |
NB23-008 |
Primary |
323.70 |
359.10 |
35.40 |
N/A |
5.20 |
0.10 |
8.8 |
3.49 |
NB23-008 |
>including |
327.50 |
339.00 |
11.50 |
N/A |
10.70 |
0.20 |
13.5 |
3.75 |
NB23-011 |
Primary |
204.50 |
249.30 |
44.83 |
8.5 |
8.30 |
1.20 |
42.9 |
3.20 |
NB23-011 |
Including |
204.50 |
223.30 |
18.83 |
3.6 |
12.20 |
1.30 |
63.9 |
3.50 |
NB23-011 |
>Including |
208.50 |
214.50 |
6.00 |
1.1 |
20.70 |
2.30 |
107.8 |
3.50 |
NB23-012 |
Primary |
223.50 |
291.30 |
67.78 |
41.0 |
6.30 |
1.20 |
52.0 |
3.90 |
NB23-012 |
Including |
223.50 |
279.10 |
55.57 |
34.0 |
7.20 |
1.40 |
57.1 |
3.90 |
NB23-012 |
>Including |
223.50 |
234.00 |
10.52 |
6.3 |
12.80 |
2.30 |
105.7 |
3.80 |
NB23-012 |
>>Including |
225.50 |
231.00 |
5.52 |
3.3 |
16.70 |
3.10 |
136.2 |
4.00 |
NB23-012 |
Primary |
320.10 |
352.40 |
32.26 |
N/A |
3.00 |
0.00 |
5.9 |
3.00 |
NB23-012 |
Including |
320.10 |
328.50 |
8.36 |
N/A |
4.60 |
0.10 |
8.3 |
3.10 |
NB23-013 |
Primary |
408.10 |
437.90 |
29.77 |
20.0 |
2.90 |
0.30 |
27.7 |
4.30 |
NB23-013 |
Including |
415.50 |
427.20 |
11.66 |
7.8 |
4.80 |
0.50 |
37.0 |
4.70 |
NB23-014 |
Primary |
71.10 |
83.30 |
12.17 |
N/A |
4.30 |
1.50 |
38.3 |
3.40 |
NB23-014 |
Including |
78.00 |
83.30 |
5.27 |
N/A |
6.70 |
3.00 |
66.2 |
3.30 |
NB23-014 |
Primary |
149.90 |
161.40 |
11.53 |
N/A |
3.20 |
0.30 |
9.7 |
3.30 |
NB23-015 |
Primary |
124.10 |
220.00 |
95.87 |
N/A |
3.20 |
1.10 |
18.5 |
3.10 |
NB23-015 |
Including |
141.50 |
176.50 |
34.98 |
N/A |
6.00 |
1.90 |
28.3 |
3.00 |
NB23-015 |
>Including |
146.90 |
157.50 |
10.63 |
N/A |
10.50 |
4.90 |
64.6 |
3.10 |
NB23-015 |
Including |
215.70 |
220.00 |
4.26 |
N/A |
6.10 |
4.40 |
78.6 |
3.70 |
NB23-015 |
Primary |
253.90 |
297.80 |
43.98 |
N/A |
2.00 |
0.70 |
13.1 |
3.30 |
NB23-015 |
Including |
274.00 |
278.00 |
3.94 |
N/A |
7.00 |
0.60 |
14.7 |
3.10 |
NB23-016 |
Primary |
135.80 |
148.60 |
12.84 |
N/A |
4.50 |
0.10 |
8.8 |
3.60 |
NB23-016 |
Primary |
332.90 |
414.20 |
81.34 |
35.0 |
8.50 |
1.10 |
47.0 |
3.70 |
NB23-016 |
Including |
332.90 |
405.90 |
73.02 |
31.0 |
9.00 |
1.10 |
50.1 |
3.70 |
NB23-016 |
>Including |
332.90 |
337.50 |
4.62 |
2.0 |
12.10 |
1.40 |
72.5 |
4.20 |
NB23-016 |
>Including |
349.00 |
399.00 |
50.04 |
21.0 |
10.70 |
1.30 |
55.6 |
3.80 |
NB23-016 |
>>Including |
352.00 |
364.40 |
12.39 |
5.3 |
17.20 |
2.00 |
79.1 |
4.20 |
NB23-019 |
Primary |
115.00 |
169.00 |
54.00 |
N/A |
7.05 |
0.04 |
10.3 |
3.13 |
NB23-019 |
Including |
126.65 |
150.17 |
23.52 |
N/A |
10.88 |
0.04 |
14.6 |
3.21 |
NB23-019 |
Primary |
196.00 |
230.11 |
34.11 |
N/A |
4.04 |
0.01 |
38.3 |
2.82 |
NB23-019 |
Including |
213.00 |
230.11 |
17.11 |
N/A |
6.37 |
0.01 |
15.9 |
2.85 |
NB23-019 |
Primary |
310.57 |
368.00 |
57.43 |
20.0 |
8.42 |
1.77 |
51.8 |
3.42 |
NB23-019 |
Including |
311.16 |
319.06 |
7.90 |
3.0 |
16.40 |
5.25 |
150.8 |
4.26 |
NB23-019 |
including |
346.26 |
353.00 |
6.74 |
2.0 |
15.10 |
2.56 |
44.7 |
3.65 |
NB23-020 |
Primary |
100.81 |
191.30 |
90.49 |
N/A |
3.68 |
0.07 |
7.1 |
3.13 |
NB23-020 |
Including |
123.00 |
128.80 |
5.80 |
N/A |
8.48 |
0.03 |
11.5 |
3.55 |
NB23-021 |
Primary |
184.00 |
202.00 |
18.00 |
N/A |
13.92 |
0.03 |
36.3 |
3.06 |
NB23-021 |
Including |
184.00 |
191.79 |
7.79 |
N/A |
20.58 |
0.04 |
56.3 |
3.22 |
NB23-023 |
Primary* |
32.01 |
108.78 |
76.77 |
N/A |
6.78 |
0.63 |
17.5 |
3.04 |
NB23-023 |
Including |
32.01 |
41.74 |
9.73 |
N/A |
19.40 |
0.08 |
41.8 |
3.60 |
NB23-023 |
Including* |
70.50 |
82.70 |
12.20 |
N/A |
16.38 |
2.80 |
44.2 |
3.18 |
NB23-023 |
>Including* |
70.50 |
73.70 |
3.20 |
N/A |
43.09 |
6.93 |
102.0 |
3.93 |
NB23-024 |
Primary |
130.43 |
149.25 |
18.82 |
N/A |
13.51 |
0.15 |
20.8 |
3.17 |
NB23-024 |
>Including |
141.94 |
147.92 |
5.98 |
N/A |
26.87 |
0.39 |
45.7 |
3.55 |
NB23-024 |
>>Including |
143.16 |
147.30 |
4.14 |
N/A |
32.44 |
0.51 |
56.8 |
3.77 |
NB23-027 |
Primary |
141.70 |
187.34 |
45.64 |
N/A |
4.65 |
0.03 |
8.0 |
2.92 |
NB23-027 |
Primary |
225.70 |
275.60 |
49.90 |
N/A |
10.10 |
0.03 |
14.4 |
2.94 |
NB23-027 |
Including |
228.45 |
252.30 |
23.85 |
N/A |
13.95 |
0.04 |
20.3 |
3.12 |
NB23-027 |
>Including |
245.90 |
249.90 |
4.00 |
N/A |
31.61 |
0.09 |
49.1 |
3.46 |
NB23-027 |
Including |
260.73 |
267.60 |
6.87 |
N/A |
12.56 |
0.02 |
17.6 |
2.80 |
NB23-030 |
Primary |
224.70 |
277.43 |
52.73 |
N/A |
3.27 |
0.01 |
4.0 |
2.87 |
NB23-030 |
Primary |
336.90 |
386.44 |
49.54 |
N/A |
2.85 |
0.01 |
3.1 |
2.72 |
*denotes intervals with recovery of less than
85%. N/A: Not Applicable due to the variable shapes of breccia and
vein mineralization.
Photo accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9ba45f95-13f5-433e-b7fd-a4035d38c7a0
https://www.globenewswire.com/NewsRoom/AttachmentNg/6e3c9d93-f541-491b-85db-6a2e50a3807b
Fireweed Metals (TSXV:FWZ)
過去 株価チャート
から 5 2024 まで 6 2024
Fireweed Metals (TSXV:FWZ)
過去 株価チャート
から 6 2023 まで 6 2024