Fireweed Intersects
Three Distinct High-Grade Zinc Zones Including 23.77% Zinc, 3.44%
Lead, and 75.7 g/t Silver Over 10.42 m in New Zone at Boundary
West
Vancouver, British
Columbia, Canada -- September 16, 2021 -- InvestorsHub NewsWire
-- FIREWEED
ZINC LTD. ("Fireweed") (TSXV: FWZ) is pleased to announce the results from the
second drill hole at Boundary West for the 2021 Macmillan Pass
zinc-lead-silver project drill program, Yukon, Canada.
Highlights
-
Three distinct zones of
zinc-lead-silver mineralization were intersected in a step-out hole
at Boundary West, including a newly discovered zone of high-grade
laminated stratiform mineralization similar in style to the Tom and
Jason deposits.
-
The new stratiform zone
graded 23.77% zinc, 3.44% lead, and 75.7 g/t silver over 10.42 m
within a broader zone of 9.91% zinc, 1.64% lead and 39.6 g/t silver
over 32.99 m.
-
Massive to semi-massive
sulphides under the stratiform interval ran 8.22% zinc, 0.71% lead,
53.6 g/t silver over 60.68 m including a higher-grade
massive-sulphide zone of 10.36% zinc, 0.94% lead, and 66.7 g/t
silver over 40.08 m.
-
A broad zone of
vein-hosted mineralization at shallow depths in the hole returned
4.57% zinc, 0.02% lead, and 7.9 g/t silver over 40.24 m including a
higher-grade zone of 9.99% zinc, 0.06% lead, and 17.4 g/t silver
over 13.40 m.
CEO
Statement
Brandon Macdonald, CEO,
stated "This step-out hole at Boundary West has delivered not one,
but three very impressive intersections over significant widths.
Encouragingly, these three intersections represent three separate
zones of mineralization, including the first full intersection
through the newly discovered Tom-Jason style laminated stratiform
mineralization. This hole demonstrates that the new zone has very
high grades of zinc, lead, and silver and opens up the rest of the
Boundary area to exploration for this style of mineralization. We
are also very pleased to see the grades increasing with depth in
the massive sulphide mineralization and in the vein-hosted
mineralization. This suggests that at Boundary West there is great
expansion potential at depth, where even higher grades may be
anticipated. A very successful 2021 drill program is now wrapped up
after hitting mineralization in each of the ten holes drilled at
Boundary Zone and we eagerly await the assay results from the
remaining holes."
Chairman John Robins
added "The discovery of yet another high-grade zone this summer
further reinforces my belief that Fireweed's Macmillan Pass project
is one of the most exciting exploration projects I have ever been
involved with."
Boundary Zone
Drilling
At Boundary West (Map 1,
Map 2) diamond drill hole NB21-002 cut a complete intersection of
newly discovered laminated, stratiform zone of zinc-lead-silver
mineralization grading 9.91% zinc, 1.64% lead, and 39.6 g/t silver
over 32.99 m including a very high-grade zone of 23.77% zinc, 3.44%
lead, and 75.7 g/t silver over 10.42 m (Table 1, Cross Section 1).
This new zone was partially intersected in NB21-001, where the
upper portion was truncated by a fault (as reported in Fireweed
news release dated 17th
August 2021). In
NB21-002, the new zone comprises finely laminated
sphalerite-galena-pyrite hosted by laminated and silicified
mudstone. The sphalerite is tan to pink in colour and combined with
the presence of abundant fine-grained galena, suggests that the
mineralization is proximal to a feeder structure. The style of the
mineralization is similar to that encountered adjacent to, but not
directly overlying, the feeder structures at Tom and Jason. If
similar characteristics are encountered at Boundary West, there is
potential to expand mineralization to depth along the interpreted
vector to the feeder structure, where red to brown sphalerite, even
higher grades, and massive sulphides may occur.
A zone of massive to
semi-massive sulphides was encountered in NB21-002,
stratigraphically below the newly discovered zone of laminated
stratiform sulphides (Cross Section 1). The massive to semi-massive
sulphides graded 8.22% zinc, 0.71% lead, and 53.6 g/t silver over
60.68 m, including a higher-grade massive sulphide intersection of
10.34% zinc, 0.94% lead, and 66.7 g/t silver over 40.08 m (Table
1). The massive sulphide comprises massive
pyrite-sphalerite-galena, and the intersection in NB21-002
contained higher zinc grades due to a greater abundance of
sphalerite than the intersections up-dip in holes NB21-001 and
NB20-004, suggesting that the system is better mineralized with
depth where it is open for expansion. This is supported by higher
copper concentrations in the massive sulphides with depth,
averaging 582 ppm copper (316.39-356.47 m) in NB21-002, compared to
low-hundreds of ppm copper in NB21-001 and NB20-004, considered to
be geochemically anomalous and indicating closer proximity to the
feeder with depth. Very high bulk densities were noted in the
massive sulphides.
Table 1: NB21-002 drill
hole results
Drill
Hole
|
From
(m)
|
To
(m)
|
Intersected width
(m)1
|
Zinc
(%)
|
Lead
(%)
|
Silver
(g/t)
|
Bulk
Density (t/m3)
|
Mineralization
Style
|
NB21-002
|
87.10
|
127.34
|
40.24
|
4.57
|
0.02
|
7.9
|
2.87
|
Vein hosted
|
>including
|
87.10
|
100.50
|
13.40
|
9.99
|
0.06
|
17.4
|
3.03
|
>>including
|
88.21
|
91.57
|
3.36
|
22.20
|
0.11
|
28.4
|
3.39
|
>including
|
112.50
|
127.34
|
14.84
|
2.39
|
0.01
|
3.6
|
2.83
|
NB21-002
|
175.01
|
208.00
|
32.99
|
9.91
|
1.64
|
39.6
|
3.08
|
Laminated
stratiform
|
>including
|
175.01
|
185.43
|
10.42
|
23.77
|
3.44
|
75.7
|
3.57
|
>>including
|
179.00
|
183.58
|
4.58
|
36.14
|
5.25
|
100.7
|
3.70
|
>including
|
190.00
|
202.24
|
12.24
|
2.99
|
1.05
|
29.7
|
2.89
|
NB21-002
|
316.39
|
377.07
|
60.68
|
8.22
|
0.71
|
53.6
|
3.86
|
Massive to semi-massive
sulphides
|
>including
|
316.39
|
356.47
|
40.08
|
10.36
|
0.94
|
66.7
|
4.15
|
>>including
|
335.21
|
342.21
|
7.00
|
13.77
|
1.28
|
96.0
|
4.43
|
>>>including
|
335.21
|
337.30
|
2.09
|
18.72
|
2.69
|
136.1
|
4.53
|
NB21-002
|
403.40
|
410.91
|
7.51
|
1.25
|
0.05
|
4.6
|
3.34
|
Laminated
stratiform
|
1True widths of
stratiform, laminated mineralization, and semi-massive or massive
sulphide mineralization are estimated to be approximately 30 to 50%
of intersected widths. Vein-hosted mineralization is interpreted to
be a stockwork style, similar to Boundary Main, with an
undetermined true thickness.
A zone of vein-hosted
zinc mineralization intersected at shallow depths (75 to 100 m
vertically from surface) graded 4.57% zinc, 0.02% lead, and 7.9 g/t
silver over 40.24 m including an intersection of 9.99% zinc, 0.06%
lead, and 17.4 g/t silver over 13.40 m. The vein-hosted
mineralization comprises pyrite-sphalerite veins cutting chert
pebble conglomerate accompanied by flooding of the conglomerate
matrix by siderite and minor replacement of the clasts and matrix
by sphalerite with minor galena.
Drilling and
Exploration Update
The drilling portion of
the Macmillan Pass 2021 field program has been completed for a
total of 3,850 m in 13 holes. Mineralization has been intersected
in every hole at Boundary Zone and Boundary West, including wide
massive sulphide zones in holes NB21-002, NB21-003 and NB21-004
(Table 2). Hole NB21-005 was successful in extending zinc
mineralization to depth at Boundary Zone. Holes NB21-006, NB21-007,
NB21-008, NB21-009, and NB21-010 all intersected zinc
mineralization at Boundary West, further defining and expanding the
exploration target. Mineralization was also intersected in a hole
completed at Tom East, TS21-001 (Map 3). Collar details are
provided in Table 3. Assays are pending for all holes apart from
NB21-001 (reported in Fireweed news release dated
17th
August 2021) and NB21-002
(reported in this release).
The soil sampling grid
over the Kobuk gravity anomaly has been completed, in addition to a
small follow-up detailed grid over an area of anomalous
lead-in-soil just north of End Zone.
Notes on
sampling, assaying,
and data aggregation:
The diamond drill core logging and sampling
program was carried out under a rigorous quality
assurance / quality control program using industry best practices.
Drill intersections in this release are all HQ3 (split tube) size core (61.1mm /
2.4-inch diameter) with recoveries typically above 85%. After
drilling, core was logged for geology, structure, and
geotechnical characteristics, then marked for sampling and
photographed on site. The cores for analyses were marked for sampling based on
geological intervals with individual samples 1.5
m or
less in length. Drill core was cut lengthwise in half
with a core saw; half-core was sent for assays reported in this
news release, and the other half is stored on site for
reference. Bulk density was determined on site
for the entire length of each sample assayed by measurement of mass
in air and mass in water. Sample duplicate bulk density
determinations and in-house bulk density standard determinations
were each made at a rate of 5%. Since 2017, four in-house bulk
density standards (mineralized drill core from the Tom deposit that
span a range of densities) have been used and show an acceptable
long-term precision. Certified standard masses are used to
calibrate the scale balance used for bulk density
determinations.
A total of 5% assay
standards or blanks and 5% core duplicates are included in the sample stream as a quality control measure
and are reviewed after analyses are received. Standards and blanks in
2021 drill results to date have been approved as acceptable. Duplicate data add to the long-term
estimates of precision for assay data on the project and precision
for drill results reported is deemed to be within acceptable
levels. Samples were sent to the Bureau Veritas
preparation laboratory in Whitehorse, Yukon, where the samples were crushed and a 500 g split was sent to the Bureau Veritas laboratory
in Vancouver, B.C to be pulverized to 85% passing 200 mesh
size pulps. Clean crush material was passed
through the crusher and clean silica was pulverized between each
sample. The pulps were analyzed by 1:1:1 Aqua Regia
digestion followed by Inductively Coupled Plasma Mass Spectrometry
(ICP-ES/ICP-MS) multi-element analyses (BV Code AQ270). All
samples were also analyzed for multiple
elements by lithium borate fusion and X-ray
fluorescence analysis (XRF) finish (BV Code LF725). Over-limit Pb
(>25.0%) and Zn (>24.0%) were analyzed by
lithium borate fusion with XRF finish (BV Code
LF726). Silver is reported in this news
release by method AQ270, and zinc and lead are reported by LF725
or LF726. Bureau Veritas (Vancouver) is an
independent, international ISO/IEC 17025:2005 accredited
laboratory.
Results in this news
release are length and bulk-density weighted averages as would be
used in a Mineral Resource estimate. Readers are cautioned that in
Fireweed news releases prior to 2020, only length weighted assay
averages were reported which may result in slightly lower
(under-reported) average values. Length and bulk-density weighted
averages have been reported as these most accurately represent the
average metal-content of the intersections.
Qualified Person
Statement
Technical information in
this news release has been approved by Jack Milton, P.Geo., Ph.D.,
Chief Geologist and a 'Qualified Person' as defined under Canadian
National Instrument 43101.
About
Fireweed Zinc Ltd. (TSXV:
FWZ): Fireweed Zinc is a public mineral
exploration company focused on zinc-lead-silver and managed by a
veteran team of mining industry professionals. The Company is
advancing its district-scale 940 km2
Macmillan Pass Project in
Yukon, Canada, which is host to the 100% owned Tom and Jason
zinc-lead-silver deposits with current 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) as well as the Boundary Zone, Tom North Zone and End Zone
which have significant zinc-lead-silver mineralization drilled but
not yet classified as mineral resources. The project also includes
large blocks of adjacent claims (MAC, MC, MP, Jerry, BR, NS, Oro,
Sol, Ben, and Stump) which cover exploration targets in the
district where previous and recent work identified zinc, lead and
silver prospects, and geophysical and geochemical anomalies in
prospective host geology.
Additional information
about Fireweed Zinc and its Macmillan Pass Zinc Project including
maps and drill sections can be found on the Company's website
at
www.FireweedZinc.com and 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.
Cautionary
Statements
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, pandemics, 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.
Map 1: Location of
Macmillan Pass deposits and exploration targets.
Map 2: Boundary Zone 2021
drilling and location of cross section B-B'.
Cross Section 1: Boundary
West geology and assay results.
Map 3: Tom East 2021
drilling.
Table 2: 2021 drill hole results and
observations.
Drill
Hole
|
Length
(m)
|
Zone
|
Target
|
Results and
Observations
|
NB21-001
|
277.0
|
Boundary
West
|
BZW down-dip
extension
|
Assay results reported
17th
August 2021.
|
NB21-002
|
439.0
|
Boundary
West
|
BZW down-dip
extension
|
Results reported in this
release.
|
NB21-003
|
189.0
|
Boundary
West
|
BZW step-out to
west
|
Wide zone
encountered. Assays pending.
|
NB21-004
|
382.7
|
Boundary
West
|
BZW step-out to
west
|
Wide zone
encountered. Assays pending.
|
TS21-001
|
402.7
|
Tom East
|
Tom East
infill
|
Wide zone
encountered. Assays pending.
|
TS21-002
|
46.0
|
Tom East
|
Tom East
step-out
|
Hole ended early due to
drilling problems and redrilled as TS21-003.
|
TS21-003
|
401.5
|
Tom East
|
Tom East
step-out
|
No mineralization
encountered.
|
NB21-005
|
481.7
|
Boundary Main
|
BZ down-dip
extension
|
Wide zone
encountered. Assays pending.
|
NB21-006
|
157.2
|
Boundary West
|
BZW step-out to
east
|
Narrow zone
encountered. Assays pending.
|
NB21-007
|
106.7
|
Boundary West
|
BZW step-out to
east
|
Narrow zone
encountered. Assays pending.
|
NB21-008
|
325.8
|
Boundary West
|
BZW step-out to
east
|
Wide zone
encountered. Assays pending.
|
NB21-009
|
445.6
|
Boundary West
|
BZW down-dip
extension
|
Wide zone
encountered. Assays pending.
|
NB21-010
|
190.5
|
Boundary Main
|
BZ step-out to
west
|
Moderate zone
encountered. Assays pending.
|
Table 3: 2021 drill
collar details
Drill
Hole
|
Length
(m)
|
Zone
|
Easting*
|
Northing*
|
Elevation
(m)
|
Dip
(°)
|
Grid
Azimuth (°)
|
NB21-001
|
277.0
|
Boundary
West
|
422052
|
7010614
|
1217
|
-65
|
211
|
NB21-002
|
439.0
|
Boundary
West
|
422053
|
7010614
|
1218
|
-75
|
212
|
NB21-003
|
189.0
|
Boundary
West
|
421932
|
7010644
|
1226
|
-50
|
204
|
NB21-004
|
382.7
|
Boundary
West
|
421932
|
7010644
|
1226
|
-75
|
204
|
TS21-001
|
402.7
|
Tom East
|
442064
|
7004322
|
1679
|
-82
|
060
|
TS21-002
|
46.0
|
Tom
East
|
442197
|
7004428
|
1688
|
-89
|
236
|
TS21-003
|
401.5
|
Tom
East
|
442197
|
7004431
|
1688
|
-89
|
236
|
NB21-005
|
481.7
|
Boundary Main
|
422397
|
7010550
|
1203
|
-75
|
211
|
NB21-006
|
157.2
|
Boundary West
|
422093
|
7010516
|
1189
|
-50
|
211
|
NB21-007
|
106.7
|
Boundary West
|
422094
|
7010518
|
1189
|
-70
|
211
|
NB21-008
|
325.8
|
Boundary West
|
422094
|
7010518
|
1189
|
-75
|
211
|
NB21-009
|
445.6
|
Boundary West
|
422128
|
7010632
|
1223
|
-68
|
211
|
NB21-010
|
190.5
|
Boundary Main
|
422199
|
7010400
|
1159
|
-75
|
211
|
*UTM Zone 9 NAD83. Final
RTK GPS surveyed.