Junior exploration company Fireweed Metals (TSXV:FWZ) has announced new drill results from its 2023 exploration program at the Macmillan Pass Project in Yukon, Canada. The results include the best drill intersection to date from the Boundary Zone target, as well as other high-grade assay results.

Brandon Macdonald, CEO of Fireweed Metals, commented in a press release: “I am excited to start the year able to say that we have intersected our best-ever Boundary Zone drill intersection. We stepped out 140 m along strike from NB22-002 and NB23-007 and hit a spectacular intersection in NB23-028, further supporting our interpretation that there is a continuous high-grade feeder zone within the stratiform unit at Boundary Zone. We now have multiple wide and high-grade intersections that highlight the potential for another large zinc system within this exceptional critical minerals project.”

The mineralization encountered in the latest drill holes at Boundary Zone consists primarily of stratiform (layer-parallel) and massive sulphide zones containing zinc, lead and silver. The sulphide bodies occur over a 550-metre strike length and have been traced from near-surface to depths of at least 450 metres.

Drill hole NB23-028 intersected a broad zone of high-grade massive sulphides interpreted to be associated with a feeder system that supplied metals to the Boundary mineralized system. Additional stratiform massive sulphide zones were hit in holes NB23-022 and NB23-029.

According to Fireweed, step-out drilling has successfully extended the known stratiform sulphide zone down-dip. The tabular stratiform mineralized body ranges from 10 to 50 metres in true thickness. Extensive vein and breccia mineralization has also been encountered adjacent to the main sulphide zone.

In 2023, Fireweed completed a 22,500-metre drill program focused on the Boundary, Tom and Jason zones, as well as several metallurgical drill holes. The large program utilized directional drilling technology to maximize efficiencies.

Assays are still pending for numerous drill intersections from the Boundary Zone where visual inspections identified significant zinc and lead sulphide mineralization. Fireweed reports that step-out drilling has resulted in the visual identification of many wide intervals of sphalerite and galena.

The drill results continue to support the interpretation that the mineralization at Boundary Zone consists of a laterally extensive stratiform sulphide layer. According to Fireweed, this tabular mineralized zone now measures 550 metres along strike and has been traced 450 metres down dip. It remains open in multiple directions.

Highlights from the results are as follows:

• Best intersection drilled to date at Boundary Zone: hole NB23-028 intersected 143.95 m (50 m true width) grading 14.45% zinc, 1.15% lead, and 60.0 g/t silver, including 28.71 m (10 m true width) grading 25.52% zinc, 1.27% lead, and 91.3 g/t silver.
• Successful step-out holes continue to increase the extents of known zinc mineralization and demonstrate the high-grade tenor of the Boundary Zone mineralization.
• Hole NB23-022 intersected 66.11 m (18 m true width) grading 7.13% zinc, 0.97% lead, and 54.8 g/t silver.
• Assays are pending for 19 remaining drillholes including six more from Boundary Zone, and 11 holes from the Tom deposit, and two holes from the Jason deposit.

Table 1: Assay highlights for holes included within this release for the 2023 drilling program, Boundary Zone

*denotes intervals with recovery of less than 85%. N/A: Not Applicable due to the variable shapes of breccia and vein mineralization.

^† See “Data Verification” for a description of true width calculations

• Hole NB23-028 intersected a 143.95 m interval of stratiform massive sulphide grading 14.45% zinc, 1.15% lead, and 60.0 g/t silver with an estimated true width of approximately 50 m, including 28.71 m (estimated true width 10 m) of 25.52% zinc, 1.27% lead, and 91.3 g/t silver, further including 10.14 m (estimated true width 3.5 m) of 32.72% zinc, 1.34% lead, and 109.8 g/t silver. Two intervals of vein and breccia style mineralization were also intersected, 19.40 m grading 3.65% zinc and 5.1 g/t silver, and 7.70 m grading 9.95% zinc and 12.7 g/t silver.
• Hole NB23-022 intersected 66.11 m of stratiform massive sulphide with an estimated true width of 18 m grading 7.13% zinc, 0.97% lead, and 54.8 g/t silver, including 50.08 m (14 m true width) of 7.99% zinc, 1.12% lead, and 61.7 g/t silver.
• Hole NB23-29D1 is a directionally-cut secondary splay hole from NB23-029 and intersected 20.75 m of stratiform massive sulphide grading 5.20% zinc, 2.05% lead, and 52.6 g/t silver, including 6.50 m of 8.43% zinc, 3.27% lead, and 82.3 g/t silver. This intercept of stratiform mineralization correlates to a separate, distinct body from the primary tabular massive sulphide.
• NB23-029 intersected a 5.76 m interval of stratiform massive sulphide grading 6.32% zinc, 1.50% lead, and 34.6 g/t silver, as well as an 11.63 m interval of stratiform massive sulphide grading 7.49% zinc, 1.66% lead, and 34.7 g/t silver. Four intervals of vein and breccia style mineralization were also intersected: 27.81 m grading 4.28% zinc and 11.9 g/t silver; 29.18 m grading 2.93% zinc and 4.6 g/t silver; 16.62 m grading 8.74% zinc and 11.1 g/t silver; and 38.40 m grading 3.06% zinc and 8.2 g/t silver.
• Hole NB23-032 intersected 18.37 m of stratiform massive sulphide with an estimated true width of 8 m grading 4.25% zinc, 0.14% lead, and 12.7 g/t silver, including 4.45 m of 7.55% zinc, 0.19% lead, and 17.3 g/t silver with an estimated true width of 2 m.
• Hole NB23-031 intersected three zones of breccia and vein style mineralization: 6.50 m grading 7.33% zinc and 14.5 g/t silver; 4.59 m grading 7.33% zinc and 7.7 g/t silver; and 4.27 m grading 7.95% zinc and 3.3 g/t silver.
• Hole NB23-022D1 is a directional cut off NB23-022 and intersected a 2.50 m interval of sulphide mineralization grading 5.13% zinc, 0.43% lead, and 33.8 g/t silver.

• NB23-034 intersected 49 m of stratiform massive sulphide.
• NB23-035 intersected 15 m of stratiform massive sulphide.
• NB23-036 intersected 45 m of stratiform massive sulphide.
• NB23-037 intersected 110 m of feeder-proximal laminated to massive sulphide.
• NB23-038 intersected 13 m of stratiform massive sulphide.

Table 2: NB23-017, NB23-018, NB23-019, NB23-020, NB23-021, NB23-024, NB23-025, NB23-026, NB23-027, NB23-030 drill results

* Denotes intervals with recovery of less than 85%; N/A: Not Applicable due to the variable shapes of breccia and vein mineralization.

† Entire hole intervals contain large continuous sections of very low grade or not mineralized material (below 2% zinc)—intersections of continuous higher-grade material (>2% zinc) are listed as Primary and Included intervals and represent mineralized material.

‡ See “Data Verification” for a description of true width calculations

Table 3: 2023 Drilling Summary

Table 4: Drill Hole Collar Information

Coordinates listed in NAD83 UTM Zone 9N.

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

Fireweed Metals (FWZ:TSXV) has reported on the progress of its 2023 exploration program, including results from its first three drillholes. These exploratory drillings in the area bridging the Boundary Main and Boundary West zones have discovered significant zinc-lead mineralization. The corporation is on track to finish a 1,900 m Phase 1 drill program and has plans to conduct at least an additional 14,000 m of drilling across several step-outs and targets this year.

Brandon Macdonald, CEO of Fireweed Metals, commented in a press release: “The season is off to a thrilling start, with a broad intersection of massive sulphides in a step-out hole at Boundary Zone as part of the first test of our feeder zone target. We are very excited that we have hit zinc-lead mineralization in all our first three holes at Boundary Zone, stepping out from our discoveries in 2022. Progress has gone well on the 2023 exploration campaign with the first rig making very good production and we have capitalized on the relatively early snowmelt to mobilize a second rig ahead of schedule. The imminent completion of our new 48-person, all-weather camp will facilitate exploration in 2023 and beyond.”

Fireweed’s 2023 exploration plan is set to operate five diamond drill-rigs, aiming for over 16,000 m of drilling in the Boundary, Tom, and Jason zones. Over 1,400 m of the anticipated 1,900 m Phase 1 drilling has already been carried out. Phase 2 will extend the drilling by around 14,000 m. Both phases are focused on drilling step-out holes around areas identified to contain significant amounts of zinc-lead-silver mineralization.

Fireweed’s inaugural phase of the 2023 drilling program targets a gap between its two top-performing drillholes at the Boundary Zone – NB22-002 and NB22-023. The corporation envisages a potential high-grade feeder zone in this area that could connect Boundary West and Boundary Main. The drillholes from 2022 revealed substantial high-grade zones on either side of the Phase 1 target area. Notably, the NB22-023 hole found 298 m of 4.5% zinc, 1.4% lead, and 30.9 g/t silver, including a new 9.6 m stratiform zone grading 24.5% zinc, 15.1% lead, and 323.2 g/t silver. Meanwhile, the NB22-002 hole intersected 124 m at 12.3% zinc, 1.3% lead, and 45.9 g/t silver.

The 2023 step-outs completed thus far have successfully intersected sphalerite and galena mineralization in forms of stratiform massive sulphides, replacement mineralization, veins, and breccias. Hole NB23-003 intersected 73 m of massive sulphide, marking the first intersection of the proposed feeder zone target. The ongoing Phase 1 program will continue to test the mineralized layers and the potential feeder area linking Boundary Main and Boundary West.

The initial three drillholes were completed over 50% faster than previous operations. An early snowmelt this year enabled an extra rig to be mobilized sooner than expected. Drilling began on June 18th, and three more drills will be transported by truck this week, reaching the total of five rigs as planned. The drilling will target significant step-outs at Tom, Jason, Boundary Zone, and further.

The camp, currently hosting almost 50 people, is functioning smoothly. Construction of a new 48-person camp expansion is well underway, with commissioning and first occupants expected by the end of the month. Alongside the existing camp, the new all-weather facility will support about 100 people on site to fulfill the 2023 season’s objectives. This expansion is a crucial step in reaching the approved capacity of 150 people at the Macmillan Pass camp, enabling larger drill programs and concurrent environmental baseline studies even during colder months.

Highlights from the update include: 

• A 73 m wide interval of massive sulphide zinc-lead mineralization has been intersected at Boundary Zone and is open along-strike and at depth, validating the feeder zone target, with plans for step-out holes in the interpreted direction towards the feeder.
• All three of the first drillholes at Boundary Zone have hit zinc-lead mineralization.
• Results indicate that the Boundary West and Boundary Main zones may be connected parts of a single mineralized system.
• The second of five drill rigs is now at site and has started drilling at the Tom deposit.
• Drilling will target step-out holes at Tom, Jason, and Boundary Zone.