The Vancouver-based explorer is drilling the Tom North and Tom East zone at the base metals project.
At Tom North, one hole intersected 5.4% zinc and 0.6% lead over a width of nearly 11 metres, an improvement over historic grades, the company said in a statement.
The Tom North results indicate that the target has potential to be mined in an open-pit scenario, which would improve the economics outlined in a previously completed preliminary economic assessment.
Drilling at Tom East deviated off the planned target and resulted in multiple intersections as the drill bit cut in and out of the zone, the company told investors.
Despite the results at Tom East, Fireweed’s CEO Brandon Macdonald said that the 2019 drill targets “continue to impress.”
“Tom East contributed another hole with high grades over a wide zone despite the hole going off course,” Macdonald said in a statement.
“Tom North returned more potential open-pit results that could improve current PEA economics. We next look forward to the release of drill results from other zones tested this summer including Boundary Zone that have potential to expand on our current resources, which are already among the largest undeveloped zinc resources in the world.”
A total of 16 diamond drill holes or 2,357 metres were sunk during Fireweed’s now-completed 2019 program.
Assay results from the first five drill holes at the Tom North open pit target revealed 6.4% zinc and 0.7% lead over 9 metres in one hole and 6.2% zinc and 0.5% lead over 7.3 in another.
A subsequent hole on the Tom North target intersected 6.1% zinc and 1% lead over a 22.5-metre interval, improving historic grades and widths.
Results from additional drill holes are expected in the coming weeks.
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