Recent drilling uncovers high-grade zinc and silver, opening new exploration opportunities.

Fireweed Metals Corp. Oct. 8 announced the discovery of near-surface zinc and silver mineralization at the newly identified Popcorn target within the company's Macpass Project in Yukon, Canada.

"Popcorn represents the first exploration success stemming from our regional exploration program this year at Macpass," said Peter Hemstead, Fireweed Metals' interim president and CEO. "Identifying near-surface zinc mineralization and defining its continuity less than a kilometre from the pit-shell that constrains the resource at Boundary Zone is significant in establishing Popcorn as an exciting exploration opportunity."

Starting its 2024 season with plans to conduct the largest regional exploration program to date at Macpass, Fireweed set out to drill 14,000 meters across its most advanced deposits and promising new targets.

This ambitious program aimed to expand known resources and uncover new mineralization zones throughout the district, including 6,000 meters specifically allocated for greenfield targets.

Wrapping up field work late last month, the company made significant strides at its more advanced deposits, including Tom, Jason, and Boundary. Early results from this drilling revealed high-grade zinc, lead, and silver mineralization beyond the existing resource boundaries, particularly at Boundary, where step-out drilling extended mineralization by 45 meters outside the previously defined pit shell.

Highlights from the first two holes reported include:

• 92.15 meters averaging 8.61% zinc, 2.60% lead, and 42.7 g/t silver from a depth of 428.05 meters in hole NB24-001, including 11.21 meters averaging 21.40% zinc, 6.66% lead, and 107.6 g/t silver.

• 3.05 meters averaging 2.23% zinc, 6.16% lead, and 80.3 g/t silver from 764.73 meters in NB24-008.

Highlighting the potential of Macpass, Fireweed's greenfield exploration led to the identification of a new target, Popcorn, located 600 meters northeast of the Boundary Zone, where drilling confirmed near-surface vein and replacement-style mineralization, similar to the mineralization found at Boundary.

Fireweed Metals Corp.

Drilling seven holes totaling 1,476 meters at Popcorn, all successfully intersected vein and replacement-style sulfides comprising sphalerite and minor galena.

Highlights from these holes include:

• 46.03 meters averaging 4.88% zinc and 3.6 g/t silver from a depth of 10.83 meters in hole NB24-004, including 14.13 meters averaging 8.27% zinc and 5.3 g/t silver.

• 54.75 meters averaging 3.98% zinc and 3.9 g/t silver from 15.75 meters in NB24-002, including 8.85 meters averaging 6.13% zinc and 4.4 g/t silver, 19.78 meters averaging 6.71% zinc and 5.9 g/t silver, and 7.01 meters averaging 11.2% zinc and 9 g/t silver.

• 24.05 meters averaging 4.8% zinc and 6.3 g/t silver from 152.75 meters in NB24-007.

• 21.77 meters averaging 3.6% zinc and 3.2 g/t silver from 11.34 meters in NB24-005, and 53.95 meters averaging 3.7% zinc and 3.8 g/t silver from 81.12 meters, including 11.54 meters averaging 8.69% zinc and 5.1 g/t silver.

• 20.25 meters averaging 3.78% zinc and 3.3 g/t silver from 12.34 meters in NB24-012, including 2.45 meters averaging 14.47% zinc and 8 g/t silver.

• 6.16 meters averaging 7.64% zinc and 4.0 g/t silver from 6.16 meters in NB24-003, including 2.93 meters averaging 12.3% zinc and 4.7 g/t silver.

• One meter averaging 2.99% zinc and 2.6 g/t silver from NB24-009.

Fireweed Metals Corp.

Several of these holes, including NB24-002, NB24-003, NB24-004, NB24-005, NB24-007, and NB24-012, include large intervals labeled as "entire hole" in the drill table presented by the company. These entire hole intervals contain sections of low-grade or non-mineralized material with zinc grades below 2%.

According to Fireweed, only continuous intersections with higher-grade mineralization, where zinc grades exceeded 1.41%, were emphasized in the results. The remaining sections of the holes, while mineralized, did not meet the threshold for economic grades but should still contribute valuable geological insights into the continuity and broader potential of the zones drilled at Popcorn.

"In addition to being open in all directions, there is also potential for massive sulphides, similar to the feeder style mineralization seen at Boundary Zone, that we intend to explore in the future," Hemstead added.