Vancouver, British Columbia: FIREWEED ZINC LTD. (“Fireweed” or the “Company”) (TSXV: FWZ) is pleased to provide an exploration update on the Macmillan Pass Zinc Project in Yukon, Canada.
A total of 4,225m of core drilling in 16 holes have been completed to date. First assays are anticipated in the coming weeks. Drill holes completed are:
The next holes using two drills will test the following targets:
The first batches of core samples were cut and shipped to the laboratory in late July / early August, and additional batches of samples are shipped routinely as they are prepared.
Details and sections for some of these drilling areas are illustrated in the current Company presentation at www.FireweedZinc.com .
Exploration for New Discoveries
Field work began in early June (see Fireweed news release dated June 5, 2018) with geophysical surveying and geochemical sampling orientation grids in the Tom, Jason and End Zone areas to optimize exploration methodologies. This test work demonstrated that geophysical gravity surveying complemented with passive seismics, and geochemical B/C horizon soil sampling, both guided by geological mapping and modern exploration concepts, are effective techniques to detect zinc-lead-silver mineralization in the district and efficiently focus targets for drilling. Since then, large gravity and soil sampling grids have been laid out and are being surveyed and sampled along with geological mapping. To date, 195 line kilometers of gravity surveying covering approximately 35 km2 has been completed, and 2,743 geochemical B/C horizon, 1,621 mobile metal ion (MMI) and 944 soil gas hydrocarbon (SGH) soil samples have been collected and submitted for analyses.
Results to date of this gravity, geochemistry and geological work have successfully defined at least two new high priority targets with potential for new discoveries.
In total, a crew of about 40 persons are in camp carrying out this extensive drilling and field work program.
Brandon Macdonald, CEO, stated “We started the season with step out drilling to expand some of the known zones at Tom West and Tom East. We are finishing the season with drilling of the high grade Jason South Zone and the nascent SEDEX system at End Zone. Meanwhile our field crews carried out geophysical, geochemical and geological work in search of new discovery targets. We took an efficient and cost effective approach, and I am pleased they were successful in defining at least two high priority drill targets so far.”
Technical information in this news release has been reviewed and approved by Brandon Macdonald, P.Geo, CEO 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 large 470 km2 Macmillan Pass Project in Yukon, Canada, which is host to the 100% owned Tom and Jason zinc-lead-silver deposits with recently announced new 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). The project also includes option agreements on large blocks of adjacent claims (MAC, MC, MP, Jerry, BR and NS) which cover projected extensions of mineralization from the Jason area and areas where previous exploration identified zinc, lead and silver geochemical anomalies in critical host geology.
Additional information about Fireweed Zinc and its Macmillan Pass Project, can be found on the Company’s website at www.FireweedZinc.com and at www.sedar.com .
ON BEHALF OF FIREWEED ZINC LTD.
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.
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, 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.
Corporate Presentation Corporate Factsheet 43-101 Resource Report 43-101 Preliminary Economic Assessment Yukon Geoscience 2020 Presentation Online Townhall 2020 Presentation