Fireweed Intersects 38 meters
of 8.73% Zinc, 7.62% Lead and 129 g/t Silver including 25 meters of
10.62% Zinc, 10.32% Lead and 178 g/t Silver
Vancouver, BC -- December 5, 2017 -- InvestorsHub NewsWire --
FIREWEED ZINC LTD. ("Fireweed" or the "Company") (TSXV: FWZ) is pleased to announce
the final and best results from its 2017 verification and step out
drill program on the Macmillan Pass Project in Yukon, Canada.
Highlights
- Hole TS17-07 intersected the widest high-grade mineralization
drilled this year. The intersection consisted of 8.73% Zinc, 7.62%
Lead and 129 g/t Silver over 38 meters (true width) including
10.62% Zinc, 10.32% Lead and 178 g/t Silver over 25 meters
(true width). These results confirm the very high historic grades
in the Tom East Zone.
- Drill hole TS17-06 was a 100 meter step out at depth below the
Tom West Zone and intersected a wide zinc-dominant section of 5.27%
Zinc and 0.70% Lead over 28.5 meters (true width) including
8.45% Zinc and 0.41% Lead over 5.0 meters (true width). These
results confirm that the Tom West Zone continues to depth with
significant grades and width.
- Overall verification drill holes reported from the 2017 program
confirmed historic grades and widths of mineralization, with some
holes providing notably better results, and 2017 step out drill
holes demonstrated that zones like Tom West continue to be open for
additional drilling. All these results will contribute to the new
mineral resource estimate being prepared now and to a PEA in
2018.
The last drill results from the 2017 program are as follows:
TOM EAST ZONE DRILL RESULTS1
|
Hole No.
|
From
|
To
|
Interval
|
Estimated True Widths2
|
Zinc
|
Lead
|
Silver
|
|
(meters)
|
(meters)
|
(meters)
|
(meters)
|
(%)
|
(%)
|
(g/t)
|
TS17-07
|
61.00
|
154.20
|
93.20
|
38
|
8.73
|
7.62
|
129.7
|
Including:
|
88.55
|
150.45
|
61.90
|
25
|
10.62
|
10.32
|
178.0
|
Including:
|
121.00
|
150.45
|
29.45
|
12
|
11.76
|
11.80
|
228.5
|
Including:
|
121.60
|
124.65
|
3.05
|
1.2
|
15.55
|
23.41
|
389.4
|
Including:
|
132.00
|
142.18
|
10.18
|
4.2
|
17.66
|
12.95
|
277.0
|
Including:
|
138.38
|
142.18
|
3.80
|
1.5
|
23.84
|
17.70
|
392.2
|
|
|
|
|
|
|
|
|
TOM WEST ZONE DRILL RESULTS1
|
Hole No.
|
From
|
To
|
Interval
|
Estimated True Width2
|
Zinc
|
Lead
|
Silver
|
|
(meters)
|
(meters)
|
(meters)
|
(meters)
|
(%)
|
(%)
|
(g/t)
|
TS17-06
|
196.85
|
239.00
|
42.15
|
28.5
|
5.27
|
0.70
|
0.4
|
Including:
|
198.60
|
206.00
|
7.40
|
5.0
|
8.45
|
0.41
|
1.5
|
|
|
|
|
|
|
|
|
Notes to table:
- Maps of the drill hole locations are attached to this news
release or available on the Fireweed website at www.FireweedZinc.com .
- True Width is estimated from the company's current
understanding of the orientation of the mineralized bodies in the
area of the drill intersections and will be refined when the final
geological model for the planned mineral resource report is
completed.
Drill hole TS17-007 was drilled to fill an 80m gap between
historic drill holes in middle of the Tom East Zone and intersected
very high-grade mineralization over a much wider section than
historic holes in the area. Prior to drilling, the projected
true-width of TS17-007 was expected to be 14m but the actual
intersected true-width came in at 38m, 170% wider than modelled in
the historic resource.
Drill hole TS17-006 was a big step out hole below the Tom West
Zone and extends the zone about 100m to depth where it remains open
for further drilling.
Fireweed CEO Brandon Macdonald stated "These results confirm the
very high-grade nature of the Tom East Zone but much wider than
projected from historic drilling. This hole and the other
exceptional drill results from 2017 will be used to produce a new
mineral resource estimate by January which will lead to a PEA to
gauge the economics of the project."
Future Plans NI43-101 Compliant Mineral Resource and PEA
With the drilling and re-sampling of historic core completed and
all results received, work is now focused on writing of a NI43101
compliant mineral resource report for the Tom and Jason areas to
update the 2007 historic mineral resource (see Fireweed news
release dated June 1, 2017 for details). The new mineral resource
will upgrade the 2007 historic resource with:
- Results from an additional 25 drill holes (11 by Hudbay
Minerals in 2011 and 14 by Fireweed in 2017), a number of which cut
wider and/or higher grade intersections than predicted by historic
drill results, and others which were step-outs that expand on
previous drilling
- More accurate survey locations for historic drill holes than
were available for the 2007 report
- New bulk density determinations obtained during the 2017 field
season that, when coupled with both new and historical assay data,
will allow better estimates of rock bulk density than were
available for the 2007 report.
- Completion of the new mineral resource is expected early
Q1/2018.
After publication of the updated mineral resource report,
Fireweed will then use the new mineral resource estimate in writing
a NI43101 compliant Preliminary Economic Assessment to evaluate
future mine planning, metallurgy and project economics.
Concurrently, interpretation of the results of the drilling,
mapping, geochemistry and geophysics work from the 2017 field
season are being carried out toward identifying high priority areas
for exploration toward future new discoveries. Plans for the 2018
work program will include a larger drill program to further step
out from the drilling done to date, drilling of other known zones,
and field work toward development of new exploration targets on the
large property.
Notes on sampling and assaying:
Drill intersections are all HQ3 (split tube) size core (61.1mm /
2.4-inch diameter) with recoveries typically above 85%. After
drilling, the core is logged for geology, structure and
geotechnical characteristics, marked up for sampling, and
photographed on site. The cores for analyses are marked for
sampling based on geological intervals with individual samples 1.5
meters or less in length. They are cut in half lengthwise with a
rock saw or core splitter at the core facility on site, with
half-core samples bagged and sent by reliable transport to the
laboratory, and the other half-cores are stored on site for future
reference. A total of 5% assay standards and 5% blanks are inserted
into every sample shipment as a quality control measure and, after
analyses were received, were found to be acceptable. Samples are
sent to the Bureau Veritas (formerly Acme Labs) preparation
laboratory in Whitehorse, Yukon where the samples are crushed and
pulverized to 85% passing 200 mesh size pulps. A 250-gram split of
each pulp is then sent to the Bureau Veritas laboratory in
Vancouver, B.C. and analyzed by 1:1:1 Aqua Regia digestion followed
by Inductively Coupled Plasma Mass Spectrometry (ICP-ESI/ICP-MS)
multi-element analyses (BV Code AQ270). Over-limit Pb (>4%) and
Zn (>20%) samples are analyzed by 4 Acid Digestion followed by
"ore grade" Atomic Absorption Spectroscopy (BV Code MA404) and
double over-limit Pb (>20%) and Zn (>30%) is analyzed by
Titration (BV Codes GC817(Pb), GC816(Zn)). Over-limit samples with
high Pb and barite were assayed by reverse aqua regia digestion
followed by Atomic Absorption Spectroscopy (BV Code RA410 (Pb)).
Bureau Veritas (Vancouver) is an independent, international ISO/IEC
17025:2005 accredited laboratory.
The technical information in this news release has been reviewed
and approved by Brandon Macdonald, P.Geo, a 'Qualified Person' as
defined under Canadian National Instrument 43101.
About Fireweed Zinc Ltd.: Fireweed Zinc is a
new public mineral exploration company focused on zinc and managed
by a veteran team of mining industry professionals. The Company is
advancing its Macmillan Pass Project where it has an option to
acquire 100% of the Tom-Jason property in Yukon, Canada which is
host to the large, advanced Tom and Jason zinc-lead-silver
deposits, and an option on the adjacent large MAC claims which
cover projected extensions of mineralization from the Jason area
and 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 on SEDAR at www.sedar.com .
ON BEHALF OF FIREWEED ZINC LTD.
"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.
Forward-Looking Statements
This news release contains "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 forwardlooking statements or
forwardlooking information, except as required by law.