leadf
logo-loader
viewFireweed Zinc Ltd

Fireweed Zinc finds a new target west of Boundary zone at its giant Yukon project

This new target was found via drilling and lies 360 metres west of previous drilling at the Boundary zone

Fireweed Zinc Ltd -
Drilling continues with three rigs at the Boundary Zone, Boundary West, and Tom areas at the project, the firm said

Fireweed Zinc Ltd (CVE:FWZ) revealed that 'significant' near-surface zinc-lead mineralization has been found west of the Boundary zone at its giant Macmillan Pass project in Yukon.

This new target was found via drilling and lies 360 metres (m) west of previous drilling at the Boundary zone.

READ: Fireweed Zinc announces appointment of James Scott to its management team as senior vice president Projects

"We are very pleased to see early indications that Boundary Zone-style mineralization could be far more extensive than originally thought," said Brandon Macdonald, the chief executive at Fireweed.

"Whether this new zone discovered is an extension of Boundary Zone, a fault offset, or a new zone, we don’t know yet.

"Further drilling will tell. Being able to move so quickly from a gravity survey to drilling the resulting anomaly really highlights the agility and ability of our technical team. With mineralization demonstrated west of Boundary, we now eagerly await assay results."

Drilling continues with three rigs at the Boundary Zone, Boundary West, and Tom areas at the project and 1,500m of core drilling and 300m of reverse circulation (RC) drilling have been completed so far in 12 holes. The firm is awaiting assays for all holes.

Fireweed said it also plans to drill the 240 Mile Target later this season, marked by a large gravity anomaly that may indicate buried mineralization between the Tom and Jason deposits.

Three infill holes at Tom West have also been successfully drilled, demonstrating the potential to use RC drilling as a low-cost alternative to diamond drilling for upgrading resource categories at shallow depths, the firm said.

Further infill and twin holes are planned at the Jason Main deposit, it added.

The Macmillan Pass asset is host to the Tom, Jason, Boundary Zone and End Zone zinc-lead-silver deposits. Tom and Jason already boast a combined resource of 11.21 million tonnes (Mt) of indicated resources at 9.61% zinc equivalent.

Fireweed believes that the Boundary Zone could potentially be a large 'feeder' system to nearby mineralization similar to the Tom and Jason deposits.

Contact the author at giles@proactiveinvestors.com

Quick facts: Fireweed Zinc Ltd

Price: 1.07 CAD

TSX-V:FWZ
Market: TSX-V
Market Cap: $57.57 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

Fireweed Zinc wraps up 2020 season the company describes as "short but intense"

Fireweed Zinc (CVE: FWZ) CEO Brandon Macdonald joined Steve Darling from Proactive Vancouver to bring news the company has completed their 2020 drilling season at their Macmillan Pass Project in the Yukon. Macdonald telling Proactive what the drilling program consisted of and where they were...

5 days, 15 hours ago

2 min read