Fireweed drills 30 metres true width of 33.2% ZincEq
Fireweed Metals Corp., [FWZ-TSXV, FWEDF-OTCQB, 20F-FSE] has reported impressive results from drilling at its MacMillan Pass project in the Yukon.
In its latest update, Fireweed is reporting the first drill holes from the Tom deposit that intersected high-grade zinc-lead-silver mineralization as part of the 2025 drill campaign.
Highlights include a major 115-metre step out down-dip at the Tom South Zone, thereby significantly extending the zone of high-grade massive sulphide mineralization.
Hole TS25-001D1) intersected 30 metres true width of 33.2% zinc equivalent (ZnEq) (54.82 metres intersected width of 18.20% zinc, 13.93% lead and 161.0 g/t silver) from 891.6 metres downhole.
Fireweed shares advanced on the news, rising 3.13% or $0.09 to $2.96. The shares trade in a 52-week range of $2.98 and $1.23.
The Macmillan Pass zinc-lead-silver project is Fireweed’s flagship asset. It is located in the eastern edge of the Yukon, 350 kilometres northeast of Whitehorse. Macmillan Pass is thought to be one of the world’s leading undeveloped zinc projects.
In early September, 2024, the company released an updated resource estimate for the Tom and Jason deposits, including inaugural estimates for the Boundary and End zone deposits.
According to a NI 43-101 technical report, the Macmillan Pass project hosts an indicated resource 56 million tonnes at 7.27% zinc equivalent (ZnEq) (5.49% zinc, 1.58% lead and 24.2 g/t silver. On top of that is an inferred resource of 48.49 million tonnes at 7.48% ZnEq ( 5.15% zinc, 2.08% lead, and 25.3 g/t silver).
The Tom South zone is part of the mineral resource at the Tom Deposit. The intersecton in hole (Hole TS25-001D1) at Tom South was a 115-metre step-out down dip from previous intersections in the Tom South feeder zone and encountered a thick sequence of laminated to massive suphides consisting of sphalerite, galena, and minor chalcopyrite.
The company said this step-out intersection extends well beyond the limits of the 2024 mineral resource and shows that the Tom South zone maintains remarkable thickness and high grades in the down-dip direction, where it is open at depth. Tom South is also interpreted as being in the up-dip direction where additional drilling is planned, the company said.
“After following up on an isolated historical intersection in 2023, the zone at Tom South has rapidly grown into one of the most prospective areas at Macpass for high-grade step-outs in massive sulphide mineralization,’’ said Fireweed President and CEO Ian Gibbs. “The impressive width and grade of the intersection at Tom South demonstrates that the zone thickens and remains open down-dip, positioning this hole amongst the most significant in the project’s history,’’ he said.
“Continued success in intersecting massive sulphide mineralization in wide step-outs reinforces Tom’s potential for substantial high-grade resource growth, a major value driver at Macpass, and underscores the massive exploration potential across the district,’’ he said. “Additional drilling is planned, aimed at defining the extent of this highly prospective high grade zone.”
These results, along with the 2024 drilling results from Tom South were not included in the 2024 mineral resource estimate at the drilling occurred after the database cut-off date for the resource estimate.
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