logo-loader
viewFireweed Zinc Ltd

Fireweed Zinc eyeing maiden resource for Boundary Zone at flagship Yukon project

Last year's drilling at Boundary hit wide zones of potential open pit mineralization and assays included 100 m of 7.94% zinc from surface

Fireweed Zinc Ltd -
Highlights from drilling at Tom North last year included 22.5 metres of 6.13% zinc and 0.95% lead from near surface

Fireweed Zinc Ltd (CVE:FWZ) revealed plans to move towards a maiden resource for the Boundary Zone at its Macmillan Pass project in Yukon as it said last year saw excellent results at several targets across its flagship property. 

Last year's drilling at Boundary hit wide zones of potential open pit mineralization and assays included 100 metres (m) of 7.94% zinc from surface including 6.4 m of 42.88% zinc, the company highlighted. This year, the firm plans more drilling in the zone. 

READ: Fireweed Zinc's flagship Yukon project boosted with permit upgrade

Fireweed's chief executive Brandon Macdonald told investors that drilling first holes at Boundary had been a highlight of 2019.

"Successful initial tests also indicate strong potential to upgrade Boundary mineralization through low cost ore sorting technology and significantly impact overall project economics," he said.

"In 2020 we also plan to drill at Boundary toward an initial NI43-101 compliant mineral resource," he added.

Also last year, drilling outlined potential open pit mineralization at Tom North on the north extension of the large Tom West Zone and Fireweed continued to hit high grades at Tom East. Highlights at Tom North included 22.5 metres of 6.13% zinc and 0.95% lead from near surface.

Last year's fieldwork consisted of continued geological mapping, geophysical surveying accompanied by passive seismic, and geochemical sampling mainly in the Tom, Jason, Boundary and MC claims areas, Fireweed said.

Last summer, the Yukon Department of Highways and Public Works carried out additional work on Yukon Highway 6, from which the project is accessed, and three additional new prefabricated bridges have also been delivered to the start of the road and are available for installation next year.

New permit

Notably too, in November, Fireweed received a new Class 4 permit valid until 2028 that allows for larger exploration programs at Macmillan, including a 150‑person camp as well as expanded drilling and exploration activities in the Tom, Jason and End Zone areas.

Other plans for 2020 may include drilling of further step out holes, drilling of new exploration targets and field work towards the development of additional exploration targets on the large property, the firm said in Tuesday's statement.

"Details of 2020 work plans will be announced when the interpretation of 2019 field work is completed and budgets are approved," it said.

Shares added 1.56% to C$0.65 each.

---Updates for share price---

Contact the author at [email protected]

Quick facts: Fireweed Zinc Ltd

Price: 0.6 CAD

TSX-V:FWZ
Market: TSX-V
Market Cap: $24.96 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Fireweed Zinc Ltd named herein, including the promotion by the Company of Fireweed Zinc Ltd in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Fireweed Zinc closes financing adding 1.1 million to treasury

Fireweed Zinc (CVE: FWZ) President and CEO Brandon MacDonald joined Steve Darling from Proactive to discuss the company completing their financing in very tough market conditions. MacDonald discussing how many current shareholders and directors took part in that raise. MacDonald also told...

on 15/4/20

2 min read