Fireweed is prepped for new banner year

Fireweed Metals Corp. Jan. 31 reported additional high-grade intercepts from the 2022 drill program on its flagship Macmillan Pass zinc-lead-silver project in the Yukon, and the well-financed company is ready to take on another banner year in 2023.

"The list of accomplishments in 2022 is exceptional and includes the biggest drill program in the history of the company, the best hole ever drilled on the [Macmillan Pass] property, acquisition of one of the largest and highest-grade tungsten deposits in the world as well as a second large zinc project, closing of two major financings, and, most significantly, we welcomed the Lundin Family as a cornerstone shareholder," Fireweed Metals CEO Brandon Macdonald said in the end-of-year update.

At 940 square kilometers (363 square miles), Fireweed's Macmillan Pass property covers a 55-kilometer (34 miles) trend in eastern Yukon highly prospective for zinc, lead, silver, and copper mineralization.

The two more advanced deposits on this district-scale property – Tom and Jason – host 11.2 million metric tons of indicated resource averaging 6.59% (1.63 billion pounds) zinc, 2.48% (620 million lb) lead, and 21.33 grams per metric ton (7.7 million ounces) silver; plus 39.5 million metric tons of inferred resource averaging 5.84% (5.08 billion lb) zinc, 3.14% (2.73 billion lb) lead, and 38.15 g/t (48.4 million oz) silver.

Moving into 2021, Fireweed added a third target with the potential to eclipse Tom and Jason – Boundary. With an eagerness to crack open this new, highly prospective target, 2021 was the year of breaking the Boundary.

Kicking off 2022, however, the company decided to add not one but two new properties to its expanding portfolio.

Approximately 180 kilometers (112 miles) north of Fireweed's Macmillan Pass, Gayna River is located in the Mackenzie Mountains of NWT and within the asserted territory of the Na-Cho Nyäk Dun First Nation.

Not even a month later, the company opted to acquire the Mactung tungsten project from the Northwest Territories government for C$15 million.

Lying within the traditional territories of the Kaska Dena and First Nation Na-Cho Nyäk Dun, as well as the Sahtu Dene and Métis land claims settlement area of western NWT, this critical metal property hosts 33 million metric tons of historical indicated resource averaging 0.88% tungsten trioxide, making it one of the largest known undeveloped, high-grade tungsten-skarn deposits in the world.

Similarly, in 2022 saw contributions of roughly C$48 million to Fireweed coffers, as well as the Lundin Family becoming the largest shareholders, weighing in at roughly 17.85%.

It truly was a banner year for this fast-growing Yukon explorer.

In November, the company reported the first assays from 2022 drilling at MacMillan Pass. These results included an impressive 124 meters averaging 12.3% zinc, 1.3% lead, and 45.9 g/t ton silver in the Boundary West zone, the company's best intercept ever on the property.

As assays continue to roll in from 2022 drilling at MacMillan Pass, Fireweed is eager to begin the "biggest drill program in the history of the project for 2023," said Macdonald.

In this latest batch of 2022 assay results, Fireweed reported that hole NB22-006, a step-out hole at the Boundary Main zone, cut 12.5 meters averaging 11.2% zinc, including 6.2 meters of 15.8% zinc.

Additionally, the company said copper mineralization was intersected in NB22-006, averaging 0.5% copper and 2.3% zinc over 10.5 meters.

"Drilling continues to extend the Boundary Zones with high-grade step-out drill results, including the discovery of a new stratiform zone," said the Fireweed CEO.

In addition to NB22-006, a new laminated zone in hole NB22-008 cut 2.7 meters averaging 14.6% zinc, 1.5% lead, and 28.8 g/t silver.

Fireweed noted the zones remain open along trend and to depth for further extension, and the pending assay results are from 24 additional drill holes at Boundary and Tom.