Zinc intercepts confirm, expand Tom North

Fireweed Zinc Ltd. Aug. 20 reported results from the first five holes drilled at the company's Macmillan Pass zinc project in eastern Yukon.

Two deposits at Macmillan Pass – Tom and Jason – host 11.21 million metric tons of indicated resource averaging 6.59 percent (1.63 billion pounds) zinc, 2.48 percent (610 million lb) lead and 21.33 grams per metric ton (7.7 million ounces) silver; plus 39.47 million metric tons of inferred resource averaging 5.84 percent (5.08 billion lb) zinc, 3.14 percent (2.73 billion lb) lead and 38.15 g/t (48.4 million oz) silver.

These initial results are from Tom West, which hosts the bulk of the resource in the Tom deposit, and Tom North, an expansion area not included in the resource estimate.

Six shallow holes drilled at Tom North in 1951-52, plus one additional hole in 1978, returned assays up to 5.05 percent zinc and 1.8 percent lead over 19.9 meters.

The sparse historical drilling and trenching has traced Tom North over a strike length of 600 meters and to a depth of 50 meters.

Fireweed said the first drill holes of the 2019 season have confirmed that mineralization extends to depth, and the results define a near-surface zone of zinc-lead mineralization that is potentially amenable to open-pit mining.

TS19-001 cut 7.3 meters averaging 6.19 percent zinc and 0.51 percent lead; and TS19-002 cut nine meters of 6.36 percent zinc and 0.65 percent lead; TS19-005 cut 22.5 meters of 6.04 percent zinc and 0.94 percent lead; and TS19-006 cut 22.5 meters of 6.13 percent zinc and 0.95 percent lead.

"So far, Tom North is showing potential open-pit results and it is noteworthy that holes TS19-005 and TS19-006 reported much higher grades over wider intervals than the 1952 hole they twinned due to better recoveries using modern drilling techniques," said Fireweed Zinc CEO Brandon Macdonald. "With these positive first drill assays now in, we look forward to release of drill results from other zones tested this summer to expand on our current resources, which are already among the largest undeveloped zinc resources in the world, as well as the field program of geophysics, geochemistry and mapping still ongoing."

Two additional twin holes have been drilled in Tom North, and assays are pending.

TS19-004, a step-out hole at Tom West, extends the mineralization to the south. This hole cut 2.2 meters of 6.24 percent zinc and 2.09 percent lead before the mineralization was cut off by a fault.

Structural information gathered from the hole will be used to inform further exploration in this area.

Fireweed completed 2,357 meters of core drilling in 16 holes. Assays from the remaining 10 holes are pending.

–SHANE LASLEY