Fireweed Intersects 16.1 m of 10.4% Zinc and 15.7 g/t Silver in Step-Out at Boundary
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NEWS RELEASE
23rd November 2021 TSXV: FWZ
Fireweed Intersects 16.1 m of 10.4% Zinc and 15.7 g/t Silver
in Step-Out at Boundary West
Vancouver, British Columbia: FIREWEED ZINC LTD. (“Fireweed”) (TSXV: FWZ) is pleased to
announce further results from the 2021 drilling program at the Macmillan Pass project, Yukon, Canada.
Results from these step-out holes continue to show that Boundary West is growing and expand the known
extent of the high-grade laminated zones, massive to semi-massive sulphides, and additional wide zones
of vein-hosted mineralization.
Highlights
• Step-out hole NB21-008 intersected a wide zone of mineralization at Boundary West grading
5.41% zinc, 0.19% lead, and 10.5 g/t silver over 73.35 m including 10.39% Zinc, 0.16% Lead and
15.7 g/t Silver over 16.09 m, extending mineralization to depth.
• High-grade laminated mineralization was intersected in NB21-006, NB21-007 and NB21-008,
stepping out from the original discovery of this zone earlier in 2021.
• Boundary West remains open at depth, and geological features continue to indicate that higher
grade zones may be encountered with additional step-out drilling.
CEO Statement
Brandon Macdonald, CEO, stated “This year’s drill results from Boundary Zone and Boundary West have
clearly demonstrated that our exploration thesis was correct – there is high-grade laminated barite-hosted
zinc-lead-silver mineralization as well as zones of massive sulphides and very wide intervals of vein-
hosted mineralization at Boundary West. We’ve now discovered all these styles of mineralization and
many new zones in a large zinc system at Boundary Zone. The great results in 2021 continue to
demonstrate that Boundary Zone is a key piece of the Macmillan Pass project alongside the high-grade
deposits at Tom and Jason”.
Boundary West Drilling Results
Boundary West has now been demonstrated to be a significant exploration target: zinc mineralization has
been confirmed over a strike length of at least 250 m, and from near surface to at least 350 m vertical
depth. Zinc mineralization has been discovered in at least three discrete stratiform zones, with variable
true thicknesses that aggregate to approximately 30 to 50 m and are separated by barren or very low-grade
zinc material. The stratiform zones comprise: higher-grade, thinner zones of laminated sphalerite-galena;
thicker and variable grade zones of very dense massive to semi-massive sulphides with sphalerite-galena;
and significant thicknesses of mineralized volcaniclastic rock. In addition to the stratiform zones, wide
zones of lower-grade, vein-hosted zinc mineralization have been intersected with undetermined true
thicknesses. Boundary West has considerable upside potential as it is open in multiple directions, at least
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to the south and at depth in the north (see Maps 1 and 2, cross section C-C’ and Fireweed News Release
dated 16th September 2021). In addition to Boundary West, there is another significant exploration target
at Boundary Zone, centered around cross section A-A’ (Map 2). Boundary Zone is at least 320 m in
strike, has been drilled down-dip to at least 250 m, and has a true-thickness ranging from approximately
150 to 250 m, across which average zinc grades range from approximately 2.4% to 4.5% zinc (including
significantly higher-grade zinc zones disclosed in Fireweed News Release dated 18th November 2021).
Holes NB21-006, NB21-007, NB21-008 and NB21-009 were drilled on the same fence, stepping out to
the east of the Boundary West discovery holes (Maps 1 and 2). All four holes intersected the new zone of
laminated sphalerite discovered in 2021 in holes NB21-001 and NB21-002 (reported in Fireweed News
Releases dated 17th August 2021 and 16th September 2021). NB21-006 intersected 12.2 m of 11.14% Zn,
0.40% Pb, and 38.8 g/t Ag including 3.87 m of 16.66% Zn, 0.20% Pb, and 44.4 g/t Ag and was
terminated shortly thereafter as it was cutting bedding at a low angle. NB21-006 and NB21-007
encountered drilling difficulties within the laminated zinc mineralization, resulting in poor recoveries.
The zone of very low recovery was not assayed in NB21-007, as the hole was re-drilled as NB21-008 at a
steeper angle with improved recovery. NB21-008 had excellent recovery through a wide interval of
volcaniclastic rock with sections of semi-massive pyrite-sphalerite, grading 5.41% Zn, 0.19% Pb, and
10.5 g/t Ag over 73.35 m, including 16.09 m of 10.39% Zn, 0.16% Pb, and 15.7 g/t Ag. No significant
copper mineralization was intersected in these holes unlike drill hole NB21-005 drilled further to the east
(see Fireweed News Release dated 18th November 2021 for details). Assays for NB21-009 are pending.
Lighter colours of sphalerite, a lack of barite, and generally lower grades indicate that the laminated zinc
mineralization on this more eastern fence is more distal to the feeder than the high-grade mineralization
intersected in NB21-001 and NB21-002, suggesting that even higher zinc, lead and silver grades may yet
be found at depth, down-dip from the known extent of mineralization at Boundary West.
Holes NB21-003 and NB21-004 intersected wide intervals of massive sulphide, comprising mostly pyrite
with minor sphalerite, resulting in generally low zinc grades (Table 1). This provides additional evidence
that the direction towards the feeder structure and higher grades may be down-dip at Boundary West.
Table 1: Drill Results, Boundary Zone.
Hole From
(m)
To
(m)
Interval
(m)1
Zinc
(%)
Lead
(%)
Silver
(g/t)
Bulk
Density
(t/m3)
Style
NB21-003 78.90 137.00 58.10 1.54 0.15 16.1 4.195 MS
NB21-003 incl. 78.90 82.71 3.81 4.48 0.16 26.8 4.583 MS
NB21-003 and 97.44 101.50 4.06 3.24 0.71 36.2 4.726 MS
NB21-003 and 116.58 118.50 1.92 4.05 0.19 22.8 4.617 MS
NB21-004 221.95 237.05 15.10 0.99 0.02 8.5 3.958 MS
NB21-004 324.40 334.00 9.60 0.94 0.11 3.5 3.019 V
NB21-006 39.20 51.43 12.23†(60%) 11.14 0.40 38.8 3.049 L, V
NB21-006 incl. 44.20 48.07 3.87†(47%) 16.66 0.20 44.4 3.017 L, V
NB21-007 39.50 44.17 4.67 4.72 0.26 19.4 3.229 L, V
NB21-008 42.65 49.62 6.97 1.89 0.31 16.2 3.045 L, SM
NB21-008 56.07 58.96 2.89 6.09 0.65 39.2 3.454 L, SM
NB21-008 122.50 131.06 8.56 2.57 0.24 18.0 3.027 L, R
NB21-008 186.67 260.02 73.35 5.41 0.19 10.5 3.497 V, MS
NB21-008 incl. 194.61 196.80 2.19 9.85 0.13 17.0 4.036 SM
NB21-008 and 204.00 220.09 16.09 10.39 0.16 15.7 3.545 V, R
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NB21-008 and 252.28 260.02 7.74 10.89 0.71 24.8 4.035 MS
NB21-008 283.80 294.10 10.30 1.65 0.18 12.6 3.378 SM
NB21-008 304.43 314.50 10.07 0.93 0.50 15.9 3.042 V
MS – massive sulphide; SM – semi massive sulphide; V – vein; R – replacement; L – laminated; incl. – including.
1True widths of stratiform, laminated mineralization, and semi-massive or massive sulphide mineralization are
estimated to be approximately 30 to 80% of intersected widths. Vein-hosted mineralization is interpreted to be a
stockwork style with an undetermined true thickness.
†Low recovery zone, core recovery indicated in parentheses.
Notes on sampling, assaying, and data aggregation:
The diamond drill core logging and sampling program was carried out under a rigorous quality assurance /
quality control program using industry best practices. Drill intersections in this release are all HQ3 (split
tube) size core (61.1mm / 2.4-inch diameter) with recoveries typically above 85% unless otherwise noted
in the table of results . After drilling, core was logged for geology, structure , and geotechnical
characteristics, then marked for sampling and photographed on site. The cores for analyses were marked
for sampling based on geological intervals with individual samples 1.5 m or less in length. Drill core was
cut lengthwise in half with a core saw; half -core was sent for assays reported in this news release, and the
other half is stored on site for reference. Bulk density was determined on site for the entire length of each
sample assayed by measurement of mass in air and mass in water. Sample duplicate bulk density
determinations and in-house bulk density standard determinations were each made at a rate of 5%. Since
2017, four in-house bulk density standards (mineralized drill core from the Tom deposit that s pan a range
of densities) have been used and show an acceptable long -term precision. Certified standard masses are
used to calibrate the scale balance used for bulk density determinations.
A total of 5% assay standards or blanks and 5% core duplicates are included in the sample stream as a
quality control measure and are reviewed after analyses are received. Standards and blanks in 2021 drill
results to date have been approved as acceptable. Duplicate data add to the long-term estimates of precision
for assay data on the project and precision for drill results reported is deemed to be within acceptable
levels. Samples were sent to the Bureau Veritas preparation laboratory in Whitehorse, Yukon, where the
samples were crushed and a 500 g split was sent to t he Bureau Veritas laboratory in Vancouver, B.C to
be pulverized to 85% passing 200 mesh size pulps. Clean crush material was passed through the crusher
and clean silica was pulverized between each sample. The pulps were analyzed by 1:1:1 Aqua Regia
digestion followed by Inductively Coupled Plasma Mass Spectrometry (ICP -ES/ICP-MS) multi-element
analyses (BV Code AQ270). All samples were also analyzed for multiple elements by lithium borate fusion
and X-ray fluorescence analysis (XRF) finish (BV Code LF725). Over-limit Pb (>25.0%) and Zn (>24.0%)
were analyzed by lithium borate fusion with XRF finish (BV Code LF726). Silver is reported in this news
release by method AQ270, and zinc and lead are reported by LF725 or LF726. Bureau Veritas (Vancouver)
is an independent, international ISO/IEC 17025:2005 accredited laboratory.
Results in this news release are length and bulk -density weighted averages as would be used in a Mineral
Resource estimate. Readers are cautioned that in Fireweed news releases prior to 2020 , only length
weighted assay averages were reported which may result in slightly lower (under -reported) average
values. Length and bulk-density weighted averages have been reported as these most accurately represent
the average metal-content of the intersections.
Qualified Person Statement
Technical information in this news release has been approved by Jack Milton, P.Geo., Ph.D., Chief
Geologist and a ‘Qualified Person’ as defined under Canadian National Instrument 43-101.
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Hiring of Investor Relations Firm and Grant of Stock Options
Fireweed announces that it has retained Peak Investor Marketing Corp. (“Peak”) of Vancouver, Canada to
assist the Company with marketing, investor relations and related advisory services. Under terms of the
contract, Peak will be paid a service fee of $12,000 per month for a minimum of three months and will be
granted 30,000 stock options priced at market. The stock options will vest over 12 months as to 25%
every three months as required under TSX Venture Exchange policies. The grant of these stock options is
subject to required approvals including the TSX Venture Exchange.
The Company also announces that it is granting, pursuant to its stock option plan, a total of 45,000 stock
options priced at market for a five-year term to a new employee.
About Fireweed Zinc Ltd. (TSXV: FWZ): Fireweed Zinc is a public mineral exploration company
focused on zinc-lead-silver and managed by a veteran team of mining industry professionals. The Company
is advancing its district-scale 940 km2 Macmillan Pass Project in Yukon, Canada, which is host to the 100%
owned Tom and Jason zinc-lead-silver deposits with current Mineral Resources and a PEA economic study
(see Fireweed news releases dated January 10, 2018, and May 23, 2018, respectively, and reports filed on
www.sedar.com for details) as well as the Boundary Zone, Tom North Zone and End Zone which have
significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources. The project
also includes large blocks of adjacent claims (MAC, MC, MP, Jerry, BR, NS, Oro, Sol, Ben, and Stump)
which cover exploration targets in the district where previous and recent work identified zinc, lead and
silver prospects, and geophysical and geochemical anomalies in prospective host geology.
Additional information about Fireweed Zinc and its Macmillan Pass Zinc Project including maps and drill
sections can be found on the Company’s website at www.FireweedZinc.com and at www.sedar.com.
ON BEHALF OF FIREWEED ZINC LTD.
“Brandon Macdonald”
CEO & Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements
This news release may contain “forward -looking” statements and information relating to the Company and the
Macmillan Pass Project that are based on the beliefs of Company ma nagement, as well as assumptions made by and
information currently available to Company management. Such statements reflect the current risks, uncertainties and
assumptions related to certain factors including but not limited to, without limitations, explo ration and development
risks, expenditure and financing requirements, general economic conditions, changes in financial markets, pandemics,
the ability to properly and efficiently staff the Company’s operations, the sufficiency of working capital and fundi ng
for continued operations, title matters, First Nations relations, operating hazards, political and economic factors,
competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and
oversight, permitting , seasonality and weather, technological change, industry practices, and one -time events.
Additional risks are set out in the Company’s prospectus dated May 9, 2017, and filed under the Company’s profile
on SEDAR at www.sedar.com. Should any one or more risks or uncertainties materialize or change, or should any
underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those
described herein. The Company does not undertake to update forward‐ looking statements or forward‐ looking
information, except as required by law.
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Map 1: Location of Macmillan Pass deposits and exploration targets.
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Map 2: Boundary Zone 2021 drilling and location of cross sections A-A’ and C-C’. See Fireweed News
Release dated 18th November 2021 for Cross Section A-A’.
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Cross Section C-C’: Boundary West geology and assay results.
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Table 2: 2021 drill hole results and observations.
Drill Hole Length (m) Zone Target Results and Observations
NB21-001 277.0 Boundary West BZW down-dip extension Assay results reported 17th August 2021.
NB21-002 439.0 Boundary West BZW down-dip extension Assay results reported 16th September 2021.
NB21-003 189.0 Boundary West BZW step-out to west Results reported in this release.
NB21-004 382.7 Boundary West BZW step-out to west Results reported in this release.
TS21-001 402.7 Tom East Tom East infill Wide zone encountered. Assays pending.
TS21-002 46.0 Tom East Tom East step-out Hole ended early due to drilling problems
and redrilled as TS21-003.
TS21-003 401.5 Tom East Tom East step-out No mineralization encountered.
NB21-005 481.7 Boundary Main BZ down-dip extension Results reported 18th November 2021.
NB21-006 157.2 Boundary West BZW step-out to east Results reported in this release.
NB21-007 106.7 Boundary West BZW step-out to east Results reported in this release.
NB21-008 325.8 Boundary West BZW step-out to east Results reported in this release.
NB21-009 445.6 Boundary West BZW down-dip extension Wide zone encountered. Assays pending.
NB21-010 190.5 Boundary Main BZ step-out to west Moderate zone encountered. Assays pending.
Table 3: 2021 drill collar details
Drill Hole Length (m) Zone Easting* Northing* Elevation (m) Dip (°) Grid Azimuth (°)
NB21-001 277.0 Boundary West 422052 7010614 1217 -65 211
NB21-002 439.0 Boundary West 422053 7010614 1218 -75 212
NB21-003 189.0 Boundary West 421932 7010644 1226 -50 204
NB21-004 382.7 Boundary West 421932 7010644 1226 -75 204
TS21-001 402.7 Tom East 442064 7004322 1679 -82 060
TS21-002 46.0 Tom East 442197 7004428 1688 -89 236
TS21-003 401.5 Tom East 442197 7004431 1688 -89 236
NB21-005 481.7 Boundary Main 422397 7010550 1203 -75 211
NB21-006 157.2 Boundary West 422093 7010516 1189 -50 211
NB21-007 106.7 Boundary West 422094 7010518 1189 -70 211
NB21-008 325.8 Boundary West 422094 7010518 1189 -75 211
NB21-009 445.6 Boundary West 422128 7010632 1223 -68 211
NB21-010 190.5 Boundary Main 422199 7010400 1159 -75 211
*UTM Zone 9 NAD83. Final RTK GPS surveyed.