Fireweed’s strong zinc hits at Boundary zone close out 2024 drilling in Yukon

The last holes of Fireweed Metals’ (TSXV: FWZ; US-OTC: FWEDF) drill program this year at its Macpass project in eastern Yukon have returned high-grade results that point to the exploration potential of the Boundary zone.

Highlight hole NB24-015 returned63.5 metres grading 6.08% zinc, 0.89% lead and 10.7 grams silver per tonne from 29.8 metres depth, Fireweed reported on Thursday. That intercept included 2.7 metres at 12.71% zinc, 0.31% lead and 24.8 grams silver; and 5.1 metres at 30.63% zinc, 7.83% lead and 40.3 grams silver.

“These intercepts on the extreme eastern margin of Boundary zone continue to push the extents of this already exceptional deposit with successful intersections of zinc mineralization in every completed hole,” Fireweed president and CEO Peter Hemstead said in a release.

The holes, among 15 drilled at Boundary, stepped out up to 200 metres along strike from the currently defined resource of Boundary, Hemstead added.

Series of strong results

The intercepts cap off a busy fall and year in general for Fireweed, after solid zinc results reported two weeks ago raised the possibility of growing resources at the Tom target, on the eastern side of the Macpass project. And six weeks ago, drill results at Boundary returned higher grades and thicknesses than estimated in Fireweed’s resource update released in September, which quadrupled indicated tonnage over a 2018 preliminary economic assessment.

Another highlight reported Thursday, hole NB24-013, cut65.9 metres at 5.09% zinc, 0.42% lead, and 15.3 grams silver from 22 metres depth, including 38.9 metres of 6.58% zinc, 0.49% lead and 18.9 grams silver. The hole included 6.2 metres at 18.91% zinc, 0.07% lead, and 37.3 silver; and 2.53 metres of 27.03% zinc, 4.57% lead, and 34.7 grams silver.

All holes reported Thursday were step outs testing vein, breccia, replacement, and stratiform to massive sulphides at Boundary, which along with Tom, Jason and End make up the Macpass project.

They were among 49 holes drilled this year at Macpass, the company’s largest project, sitting on the border of the Northwest Territories. The company’s adjacent Mactung project hosts 41.5 million indicated tonnes at 0.73% tungsten trioxide (WO₃) and 12.2 million inferred tonnes at 0.59% WO₃, according to a 2023 resource estimate. It stands out as the world’s largest high-grade tungsten resource.

Fireweed shares were down 0.7% to $1.43 apiece on Friday morning in Toronto, valuing the company at $258.6 million. Shares traded in a 52-week range of 97¢ to $1.55.