Fireweed Advances Boundary Zone, Intersecting 57.4 m of 8.4% Zinc, 1.8% Lead, and 51.8 g/t Silver, and 49.9 m of 10.1% Zinc, and 14.4 g/t Silver
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NEWS RELEASE
November 30, 2023 TSXV: FWZ
OTCQB: FWEDF
FSE:M0G
Fireweed Advances Boundary Zone, Intersecting 57.4 m of 8.4% Zinc, 1.8% Lead,
and 51.8 g/t Silver, and 49.9 m of 10.1% Zinc, and 14.4 g/t Silver
Vancouver, British Columbia: FIREWEED METALS CORP. (“Fireweed” or the “Company”)
(TSXV: FWZ; OTCQB: FWEDF; FSE: M0G) is pleased to report additional assay results from its
2023 exploration at the Macmillan Pass (“Macpass”) Project, Yukon, Canada.
Highlights
Boundary Zone delivers multiple near-surface wide, high-grade zones of zinc-lead-silver
mineralization in step-out holes within breccia and vein mineralization, as well as stratiform
and massive sulphides.
Hole NB23-019 intercept is the broadest, high- grade intercept on the eastern side of the
stratiform body to date, establishing high- grade continuity over at least 350 m of strike
within this zone alone.
Hole NB23 -019 intersected 57.43 m of 8.42% zinc, 1.77% lead, and 51.8 g/t silver
(estimated true width 20 m), including 7.9 m of 16.4% zinc, 5.25% lead, and 150.8 g/t
silver, and also including 6.74 m of 15.1% zinc, 2.56% lead, and 44.7 g/t silver. This hole
also intersected a separate interval of 54.0 m of 7.05% zinc, and 10.3 g/t silver, including
23.5 m of 10.88% zinc, and 14.6 g/t silver.
Hole NB23-023 intersected 76.77 m grading 6.78% zinc, 0.63% lead, and 17.5 g/t silver
including 12.20 m of 16.38% zinc, 2.8% lead, and 44.2 g/t silver.
Hole NB23-027 intersected 49.9 m grading 10.1% zinc and 14.4 g/t silver including 23.85
m of 13.95% zinc and 20.3 g/t silver.
Assays are pending for 24 remaining drillholes from Boundary Zone, 10 holes from the
Tom deposit and two holes from the Jason deposit.
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CEO Statement
Brandon Macdonald, CEO, stated, “Our successes continue at Macpass this year, as Boundary
Zone impresses us with even more demonstration of the scale and tenor of this large mineralized
system. Today’s results highlight the high-grade, near-surface mineralization on the eastern side
of Boundary which mostly comprise vein and breccia styles of mineralization. This type of
mineralization forms a wide halo, hundreds of metres in width, that surrounds the high-grade
laminated to stratiform massive sulphide layer and related feeder zone. We are eagerly awaiting
assay results of the remaining drillholes over the coming weeks.”
Summary
The drill holes in this release primarily comprise near surface mineralization present as veins and
breccia (fractured rock infilled by zinc and lead sulphides) on the eastern side of Boundary Zone.
This mineralization is broader and more dispersed than the stratiform mineralization deeper and
to the west; however, it is generally shallower. Holes NB23-019 and NB23-024 both intersected
intervals of vein and breccia mineralization, as well as intersections within the stratiform body.
Due to the variable shape of the breccia and vein zones, true widths estimates are not applicable
for these intersections as is reported for the stratiform mineralization.
Results
The drill holes in this news release are located on the eastern side of Boundary Zone and targeted
the halo of zinc mineralization around the stratiform layers which occurs as matrix replacement,
veining, and breccia fill. Broad intervals of high-grade zinc are present from surface to a depth of
300 m. Both s tratiform and massive sulphide mineralization is present in NB23- 019—this
stratiform intercept is the broadest, high-grade intercept on the eastern side of this body to date,
establishing high-grade continuity over at least 350 m of strike within the stratiform zone alone.
Table 1: Assay highlights for holes included within this release for the 2023 drilling program,
Boundary Zone
Drillhole Interval From
(m) To (m)
Interval
Width
(m)
Est.
True
Width
(m)
Zinc
(%)
Lead
(%)
Silver
(g/t)
Bulk
Density
(t/m3)
NB23-019 Primary 115.00 169.00 54.00 N/A 7.05 0.04 10.3 3.13
NB23-019 Including 126.65 150.17 23.52 N/A 10.88 0.04 14.6 3.21
NB23-019 Primary 196.00 230.11 34.11 N/A 4.04 0.01 38.3 2.82
NB23-019 Including 213.00 230.11 17.11 N/A 6.37 0.01 15.9 2.85
NB23-019 Primary 310.57 368.00 57.43 20 8.42 1.77 51.8 3.42
NB23-019 Including 311.16 319.06 7.90 3 16.4 5.25 150.8 4.26
NB23-019 including 346.26 353.00 6.74 2 15.1 2.56 44.7 3.65
NB23-020 Primary 100.81 191.30 90.49 N/A 3.68 0.07 7.1 3.13
NB23-020 Including 123.00 128.80 5.80 N/A 8.48 0.03 11.5 3.55
NB23-021 Primary 184.00 202.00 18.00 N/A 13.92 0.03 36.3 3.06
NB23-021 Including 184.00 191.79 7.79 N/A 20.58 0.04 56.3 3.22
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Drillhole Interval From
(m) To (m)
Interval
Width
(m)
Est.
True
Width
(m)
Zinc
(%)
Lead
(%)
Silver
(g/t)
Bulk
Density
(t/m3)
NB23-023 Primary* 32.01 108.78 76.77 N/A 6.78 0.63 17.5 3.04
NB23-023 Including 32.01 41.74 9.73 N/A 19.4 0.08 41.8 3.6
NB23-023 Including* 70.50 82.70 12.20 N/A 16.38 2.8 44.2 3.18
NB23-023 >Including* 70.50 73.70 3.20 N/A 43.09 6.93 102 3.93
NB23-024 Primary 130.43 149.25 18.82 N/A 13.51 0.15 20.8 3.17
NB23-024 >Including 141.94 147.92 5.98 N/A 26.87 0.39 45.7 3.55
NB23-024 >>Including 143.16 147.30 4.14 N/A 32.44 0.51 56.8 3.77
NB23-027 Primary 141.70 187.34 45.64 N/A 4.65 0.03 8.0 2.92
NB23-027 Primary 225.70 275.60 49.90 N/A 10.1 0.03 14.4 2.94
NB23-027 Including 228.45 252.30 23.85 N/A 13.95 0.04 20.3 3.12
NB23-027 >Including 245.90 249.90 4.00 N/A 31.61 0.09 49.1 3.46
NB23-027 Including 260.73 267.60 6.87 N/A 12.56 0.02 17.6 2.8
NB23-030 Primary 224.70 277.43 52.73 N/A 3.27 0.01 4.0 2.87
NB23-030 Primary 336.90 386.44 49.54 N/A 2.85 0.01 3.1 2.72
*denotes intervals with recovery of less than 85%. N/A: Not Applicable due to the variable shapes of breccia and vein
mineralization.
Fireweed continues to successfully intersect pyrite -sphalerite-galena as stratiform massive
sulphides, laminated mineralization, veins, and breccias in the 2023 step-outs (Photos 1 to 3) .
Mineralization has been intersected in every step- out hole that has been completed to depth.
Assays have been received for 26 Boundary Zone holes (Tables 1 and 2). B rief summaries of
mineralized zones within all other 2023 holes are listed in Table 3.
Hole NB23 -019 intersected a 57.43 m interval of stratiform massive sulphide grading
8.42% zinc, 1.77% lead, and 51.8 g/t silver with an estimated true width of approximately
20 m. In addition, three other distinct intervals of vein and breccia mineralization were
intersected, comprising 54.00 m of 7.05% zinc and 10.3 g/t silver; 34.11 m of 4.04% zinc
and 38.3 g/t silver; and 18.47 m of 4.12% zinc and 5.1 g/t silver.
NB23-027 intersected 49.90 m of 10.1% zinc, 14.4 g/t silver, including 23.85 m of 13.95%
zinc, 20.3 g/t silver; also including 6.87 m of 12.56% zinc and 17.6 g/t silver in vein and
breccia style mineralization. This hole also intersected 45.64 m of 4.65% zinc and 8.0 g/t
silver.
Hole NB23 -020 intersected a 90.49 m intersection of breccia and vein sulphide
mineralization grading 3.68% zinc and 7.1 g/t silver and a 49.10 m interval of vein
mineralization grading 3.98% zinc and 7.1 g/t silver.
NB23-021 intersected 49.30 m of 3.58% zinc and 5.4 g/t silver, including 24.72 m of 4.63%
zinc and 6.4 g/t silver, as well as a lower 18.00 m interval of 13.92% zinc and 36.3 g/t
silver, including 7.79 m of 20.58% zinc and 56.3 g/t silver. Both zones comprise vein and
breccia style mineralization.
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NB23-023 intersected two distinct intervals of vein and breccia mineralization: 76.77 m of
6.78% zinc, 0.63% lead, and 17.5 g/t silver, including 9.73 m at 19.4% zinc, 41.8 g/t silver,
as well as 12.20 m of 16.38% zinc, 2.8% lead, and 44.2 g/t silver, including 3.20 m of
43.09% zinc, 6.93% lead, and 102.0 g/t silver.
NB23-024 intersected 18.82 m of 13.51% zinc, 0.15% lead, and 20.8 g/t silver, and 34.8
m of 3.88% zinc and 5.3 g/t silver, and 80.72 m of 3.89% zinc, 0.28% lead, and 11.7 g/t
silver in vein and breccia mineralization as well as 14.28 m (estimated true width 11 m) of
6.13% zinc, 0.99% lead, and 34.2 g/t silver within stratiform mineralization.
NB23-030 intersected 52.73 m of 3.27% zinc and 4.0 g/t silver, as well as 49.54 m of
2.85% zinc and 5.8 g/t silver within vein and breccia mineralization.
NB23-025 intersected three zones of mineralization, one 5.37 m of 8.37% zinc and 13.1
g/t silver, a second 6.00 m of 4.05% zinc and 2.8 g/t silver, and a third 7.00 m of 3.3% zinc
and 11.3 g/t silver.
NB23-026 intersected a 9.49 m interval grading 4.28% zinc and 5.8 g/t silver, as well as
a 6.00 m interval grading 2.85% zinc and 20.2 g/t silver in vein and breccia mineralization.
NB23-018 intersected a 12.96 m interval grading 1.29% zinc, 0.53% lead, and 17.5 g/t
silver, as well as a lower 3.95 m interval grading 1.76% zinc, 8.29% lead, and 96 g/t silver.
Both intervals comprise vein and breccia style mineralization.
NB23-017 intersected a short interval of massive sulphide just below casing with minor
lead and silver mineralization.
See Tables 1 to 4, Long Section M–M’, Cross Sections A–A’, H–H’, N–N’, O–O’, P–P’, and Maps
2 and 3 below for further details.
Step-out drilling at Boundary Zone targeting the massive–stratiform zone has resulted in the visual
identification of many wide intersections of zinc-lead mineralization with assays pending. The
most significant intersections can be seen on Long Section M–M’ and are listed here:
NB23-022 intersected 55 m of massive sulphide.
NB23-028 intersected 140 m of feeder-proximal laminated to massive sulphides.
NB23-029D1 intersected 21 m of stratiform massive sulphide.
NB23-032 intersected 18 m of stratiform massive sulphide.
NB23-034 intersected 49 m of stratiform massive sulphide.
NB23-035 intersected 15 m of stratiform massive sulphide.
NB23-036 intersected 45 m of stratiform massive sulphide.
NB23-037 intersected 110 m of feeder-proximal laminated to massive sulphide.
NB23-038 intersected 13 m of stratiform massive sulphide.
Out of the 40 holes drilled at Boundary Zone in 2023, 36 were step-out holes that tested the vein
mineralization, laminated stratiform mineralization, and massive sulphide zones. The geometry
and stratigraphic sequence intersected in these holes continue to support the idea that the
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laminated and massive sulphide mineralization are part of the same geological layer at Boundary
Zone, forming an approximately tabular stratiform zone. Step out drilling down-dip intersected
abundant galena, supporting the presence of the conceptual feeder zone. The mineralization in
the massive stratiform layer extends from surface to at least 450 m down-dip, over 550 m in strike
with a variable true thickness that is shown on Long Section M –M’, thinning around the edges
and reaching thicknesses greater than 40 m at its widest point.
Extensive vein and breccia mineralization at Boundary Zone occurs both above and below the
main stratiform laminated massive sulphide zone. This mineralization forms within a halo
approximately 100 to 150 m wide on both sides of the stratiform laminated zone and is interpreted
as a stockwork of randomly oriented veins and breccia zones . Many wide intervals of vein and
breccia style sphalerite mineralization have been encountered in 2023 step- out holes and four
infill holes (Table 3).
2023 Drill Program
The 2023 program achieved 22,500 m of drilling mostly focused on Boundary, Tom, and Jason
zones in addition to five metallurgical drill holes at Mactung (Map 1). Use of directional drilling, in
which multiple angled drill holes are initiated at depth from one primary hole, saved an estimated
1,800 m of drilling compared to traditional drilling of multiple new holes from surface for a total
equivalent metreage of 24,300 m in 2023, making this Fireweed’s largest ever program and the
biggest exploration program in Yukon this year.
About Fireweed Metals Corp. (TSXV: FWZ; OTCQB: FWEDF; FSE:M0G): Fireweed Metals is a
public mineral exploration company on the leading edge of Critical Minerals project development.
Fireweed is well-funded, with a healthy balance sheet, and has three projects located in Canada:
Macpass Project (Zinc-Lead-Silver): Fireweed owns 100% of the district-scale 940 km2
Macmillan Pass (“Macpass”) Project in Yukon, Canada, which is host to one of the largest
undeveloped zinc resources in the world* . The Tom and Jason zinc -lead-silver deposits
have current Mineral Resources1 (11.21 Mt Indicated Resource at 6.59% zinc, 2.48% lead,
and 21.33 g/t silver; and 39.47 Mt Inferred Resource at 5.84% zinc, 3.14% lead, and 38.15
g/t silver) and a Preliminary Economic Assessment 2 (PEA). In addition, Boundary Zone,
Tom North and End Zone have significant zinc-lead-silver mineralization drilled but not yet
classified as mineral resources. The Project also includes large blocks of adjacent claims
with known showings and significant upside exploration potential.
Mactung Project (Tungsten) : The Company owns 100% interest in the 37.6 km 2
Mactung Project located adjacent to the Mac pass Project. Recently announced mineral
resources for Mactung (41.5 Mt Indicated Resource at 0.73% WO 3 and 12.2 Mt Inferred
Resource at 0.59% WO3)3 make it the world’s largest high -grade resource of the Critical
Mineral tungsten*. Located in Canada, it is one of the rare large tungsten resources
outside of China*.
Gayna Project (Zinc-Lead-Gallium-Germanium): Fireweed owns 100% of the 128.75
km2 Gayna Project located 180 km north of the Macp ass Project. It is host to extensive
mineralization including Critical Minerals zinc, gallium and germanium as well as lead and
silver, outlined by 28,000 m of historical drilling. A recent reevaluation of the geology
indicates the potential for high-grade Kipushi-style massive sulphide mineralization.
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Qualified Person Statement
Technical information in this news release has been approved by Fireweed’s VP Geology, Dr.
Jack Milton, P.Geo. (BC), a ‘Qualified Person’ as defined under Canadian National Instrument
43-101.
In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed
(OTCQB: FWEDF) trades on the OTCQB Venture Market (www.otcmarkets.com) and is DTC
eligible for enhanced electronic clearing and settlement. In Europe, Fireweed (FSE: M0G) trades
on the Frankfurt Stock Exchange.
Additional information about Fireweed and its projects can be found on the Company’s website
at FireweedMetals.com and at www.sedarplus.com
ON BEHALF OF FIREWEED METALS CORP.
“Brandon Macdonald”
CEO & Director
Contact: Brandon Macdonald
Phone: (604) 646-8361
Email: [email protected]
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.
Data Verification
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 NQ2 size core
(50.5 mm/ 1.99- inch diameter) with recoveries typically above 85% unless otherwise noted in the results
tables. After drilling, core was cleaned, logged for geology, structure, and geotechnical characteristics, then
marked for sampling and photographed on site. Certain cores were selected for core scanning. The cores
for analyses were marked for sampling based on geological intervals with individual samples 2 m or less in
length, with 1 m samples within mineralized zones. 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 span 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 2023 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 the Bureau Veritas laboratory in Vancouver,
B.C to be pulverized to 85% passing 200 mesh size pulps. Clean crush material was passed through the
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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 lead (>25.0%) and zinc
(>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. Assay values may
appear rounded to one decimal place but are given in full in Table 1, Table 2, and Cross Sections where
zinc and lead grades are reported to two decimal places.
Results in this news release are length and bulk-density weighted averages as would be used in a Mineral
Resource estimate. Length and bulk -density weighted averages have been reported as these most
accurately represent the average metal-content of the intersections.
True widths for primary intervals are estimated by measuring perpendicular to strike within the short axis of
a stratiform wireframe that has been constructed in 3D around the mineralized intercepts at Boundary Zone
based on assay results, geological logging, stratigraphic correlation, and bedding measurements from
oriented core. The massive sulphide mineralization and laminated mineralization at Boundary Zone are
mostly stratiform (oriented parallel to bedding), therefore the true width, or thickness, of t he zone is
estimated perpendicular to both the strike and dip direction of bedding. Vein and breccia mineralization at
Boundary Zone are interpreted to be stockworks with variable shapes and true widths cannot be accurately
estimated, therefore only intersected widths are reported, and true widths are marked as N/A in the assay
tables. True widths are rounded to the nearest metre for widths over 10 m and to the nearest 0.1 m for
widths less than 10 m, as this better reflects the precision of the estimates. True widths should be regarded
as approximate as these are derived from an estimation that uses a preliminary interpretation of the
geological model. True widths for nested intervals (marked as “Including” in results tables) are estimated
using a ratio of included to primary intersected widths to attribute appropriate portions of the true width of
the primary interval to the nested intervals.
Sphalerite and galena have been identified visually by experienced core logging geologists, and licenced
professional geoscientists, confirmed by portable XRF (X-Ray fluorescence). No absolute visual estimates
of mineral abundances or inferences of potenti al zinc or lead grades have been stated for holes without
assay values in this news release.
Cautionary Statements
Forward Looking Statements
This news release contains “forward- looking” statements and information (“forward- looking statements”).
All statements, other than statements of historical facts, included herein, including, without limitation,
statements relating to interpretation of drill results and projections of mineralization, future work plans, the
use of funds, and the potential of the Company’s projects, are forward looking statements. Forward-looking
statements are frequently, but not always, identified by words such as "expects”, "anticipates”, "believes”,
"intends”, "estimates”, "potential”, "possible”, and similar expressions, or statements that events, conditions,
or results "will”, "may”, "could”, or "should” occur or be achieved. Forward-looking statements are based on
the beliefs of Company management, as well as assumptions made by and information currently available
to Company management and reflect the beliefs, opinions, and projections on the date the statements are
made. Forward- looking statements involve various risks and uncertainties and accordingly, readers are
advised not to place undue reliance on forward- looking statements. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause actual results to differ materially from the
Company's expectations include but are not limited to, exploration and development risks, unanticipated
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reclamation expenses, expenditure and financing requirements, general economic conditions, changes in
financial markets, the ability to properly and efficiently staff the Company’s operations, the sufficiency of
working capital and funding 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 w eather,
technological change, industry practices, uncertainties involved in the interpretation of drilling results and
laboratory tests, and one- time events. The Company assumes no obligation to update forward ‐looking
statements or beliefs, opinions, projections or other factors, except as required by law.
Footnotes and References
* References to relative size and grade of the Mactung resources and Macpass resources in comparison
to other tungsten and zinc deposits elsewhere in the world, respectively, are based on review of the
Standard & Poor’s Global Market Intelligence Capital IQ database.
1: For details, see https://www.sedarplus.ca/ Fireweed Technical Report titled “NI 43-101 Technical Report
on the Macmillan Pass Zinc -Lead-Silver Project, Watson Lake and Mayo Mining Districts Yukon Territory,
Canada” filed on https://www.sedarplus.ca/ on February 23, 2018, and Fireweed News Release dated
January 10, 2018. .
2: For details, see https://www.sedarplus.ca/ Fireweed Technical Report titled “NI 43-101 Technical Report
Macmillan Pass Project Yukon Territory Canada” filed on https://www.sedarplus.ca/ on July 9, 2018, and
Fireweed News Release dated May 23, 2018. This Technical Report includes a Preliminary Economic
Analysis disclosing an economic analysis of mineral resources that is preliminary in nature and does not
include any mineral reserves. It is equally emphasized that the mineral resources disclos ed within this
Technical Report are not mineral reserves and do not have demonstrated economic viability.
3: For details, see Fireweed news release dated June 13, 2023 “Fireweed Metals Announces Mineral
Resources for the Mactung Project: the Largest High- Grade Tungsten Deposit in the World” and the
technical report entitled “NI 43- 101 Technical Report, Mactung Project, Yukon Territory, Canada,” with
effective date July 28, 2023 filed on https://www.sedarplus.ca/