Fireweed Drills 250 m True Width of 3.44% Zinc from Surface at Boundary
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NEWS RELEASE
October 16, 2019 TSXV: FWZ
Fireweed Drills 250 m True Width of 3.44% Zinc from Surface at Boundary
Including Intersections of 23.31m of 16.35% Zinc and 11.85m of 13.63% Zinc+Lead
Vancouver, British Columbia: FIREWEED ZINC LTD. (“Fireweed”) (TSXV: FWZ) is pleased to
announce results from the first 2019 drill hole on the Boundary Zone at the Macmillan Pass Project in
Yukon, Canada. Boundary Zone is located 15 road kilometres west of the Jason Deposit (see Figure 1).
Highlights
• This first 2019 drill hole at the Boundary Zone intersected 3.44% Zinc over a true width of
250 metres with high grade subintervals including 16.35% Zinc over a drill intersection of
23.31 metres, a lead and silver rich section grading 9.18% Zinc 4.45% Lead and 71.6 g/t Silver
over an intersection of 11.85 metres and local very high grade sections including 47.70% Zinc
over an intersection of 1.01 metres.
• Boundary Zone has potential to be mined in a low strip open-pit and to be upgraded through low
cost ore sorting technology for processing
• The addition of Boundary Zone to the project has potential to expand current mineral resources
and improve current PEA economics.
• Assays from an additional hole at Boundary Zone are pending.
Table 1: First 2019 drill results from the Boundary Zone
Drill Hole1
From
(meters)
To
(meters)
Interval
(meters)
Estimated True
Width (meters)2 Zinc (%)
Lead
(%) Silver (g/t)
NB19-001 6.00 278.45 272.45 250 3.44 0.10 5.6
including 93.69 117.00 23.31 pending* 16.35 0.09 27.9
including 93.69 98.54 4.85 pending* 31.96 0.14 39.8
including 94.84 95.85 1.01 pending* 47.70 0.21 50.2
including 111.40 117.00 5.60 pending* 29.19 0.20 62.8
including 113.54 117.00 3.46 pending* 36.36 0.29 81.2
including 226.20 238.05 11.85 pending* 9.18 4.45 71.6
including 230.30 236.00 5.70 pending* 12.16 7.09 109.3
including 230.30 233.22 2.92 pending* 18.96 3.02 75.1
including 233.88 236.00 2.12 pending* 5.74 14.26 180.9
*True widths for subintervals are undetermined pending geological interpretation. See Footnote 2 and Table 4 for details.
CEO Statement
Brandon Macdonald, CEO, state d “These results confirm the large size and upside potential of Boundary
Zone. Hole NB19-001 is the best ever hole drilled in this zone and clearly demonstrates that there may be
potential beyond the past wide, but low er grade, intersections drilled historically , as impressive as they
were. Boundary Zone results along with recent drilling success at Tom North and End Zone , have
potential to expand on our current resources, which are already among the largest undeveloped zinc
resources in the world, as well as improve project economics.”
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Boundary Zone Potential
No mineral resource has been estimated for Boundary Zone yet and the zone is not included in the current
mineral resource estimate for the property (described in Fireweed news release dated January 10, 2018).
Boundary Zone has potential to be mined in an open pit with a low strip ratio and to be upgraded through
low cost, pre-concentration ore sorting processes (see below). Recent drill results at Boundary Zone along
with Tom North Zone and End Zone (see Fireweed news releases dated September 10, 2019, and
November 15 and 29, 2018) represent potential for expansion of the large current mineral resources and
improvement of Macmillan Pass project economics described in the current Preliminary Economic
Assessment (PEA) (see Fireweed news release dated May 23, 2018).
Boundary Zone Background
Historic drilling of 24 holes at Boundary Zone indicates the presence of a large bulk tonnage zone of zinc
(-lead-silver) mineralization potentially suitable for open pit mining. Known mineralization is spread over
an area almost two kilometres long and 200 to 800 metres wide . Mineralization drilled in a central area is
350 metres long and has a true thickness of up to 250 metres with historic drilling grades averaging
2.0 - 2.5% zinc3 that include multiple higher grade intervals closer to surface similar to the hole reported
in this news release (see Figures 2 & 3 and Table 1). Higher grades near surface are favourable for
potential open pit mining economics. The zone has been drilled up to 285 metres down dip and remains
open to depth and along trend for further exploration. Boundary Zone mineralization consists of
sphalerite-siderite-pyrite and minor galena in veins , stockworks, disseminations, and as replacement of
matrix and clasts within coarse clastic rocks.
The 2019 Boundary drill program was designed to infill a gap in historic drilling (see Figure s 2 and 3)
and obtain a bulk sample for larger commercial-scale ore sorting and metallurgical test work. Drill hole
NB19-001, reported in this release, was collared 45 metres from a historic hole to obtain adequate
comparable material for the test work.
Boundary Zone Ore Sorting Tests
Initial ore sorting test results for Boundary Zone indicate mineralization is potentially amen dable to low
cost state-of-the-art X-Ray Fluorescence ( “XRF”) ore sorting technology (see Fireweed news release
dated July 31, 2019). These test results rejected 50 -70% of the waste material (30 -50% mass pull), while
recovering 80-85% of the zinc . In practical terms, these results show potential to upgrade mill feed from
the test feed grade of 2.5% zinc to approximately 5% zinc with recovery of 80 -85% of the zinc at low
cost. Core collected from the two 2019 holes will be used to carry out commercial -scale ore sorting tests
and metallurgical tests. If the tests confirm the preliminary ore sorting results, the Boundary Zone has the
potential to significantly improve the PEA economics of the Macmillan Pass Project.
Target G Drilling
Assays have also been received from the single hole drilled on Target G (see Figure 1) which returned a
narrow intersection of low grade mineralization of 1.97% zinc, 0.55% lead and 42 g/t silver over
0.73 metres. Results from this hole and mapping in the general area will be reviewed and interpreted this
winter.
2019 Drill Program
The 2019 drill program is complete. A total of 16 diamond drill holes were drilled for a total of
2,357 metres. Targets tested were Tom North, Tom East, Tom West, Jason North, Target A, Target G,
Target R, and Boundary Zone (Figure 1 and Tables 2 & 3). Assays are pending for one additional hole at
Boundary Zone. Summary descriptions of field results and observations are provided in Table 3.
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Access Road Update
Access to the project site is via Yukon Highway 6 (aka the North Canol Road) and an airstrip on the
property. As described in the PEA study (see Fireweed news release May 23, 2018 and PEA report filed
on www.sedar.com), any future mining operation will require upgrading of the road to accommodate
more traffic. Fireweed is pleased to report that during the past summer the Yukon Department of
Highways and Public Works carried out additional work on the road which included replacement of three
more bridges and various road repairs. Three additional new prefabricated bridges have also been
delivered to the start of the road and are available for installation next year. The continuing active support
of the Yukon government on the Macmillan Pass Project is but one indication of why Yukon is a top 10
mining investment jurisdiction in the world as designated by the Fraser Institute.
Notes on sampling and assaying:
The drill c ore logging and sampling program is 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%. After drilling, core is logged
for geology, structure and geotechnical characteristics, marked for sampling, and photographed on site.
The cores for analyses are marked for sampling based on geological intervals with individual samples
1.5 metres or less in length. Drill core from the Boundary Zone was cut lengthwise into quarters with a
core saw; a quarter-core was sent for assays reported in this news release, two quarter core samples were
collected for ore sorting and metallurgical test work, and the fourth quarter is stored on site for reference.
A total of 5% assay standards or blanks and 5% core duplicates are included in the sample stream as a
quality control measure and reviewed, after analyses a re received. Standards and blanks in 2019 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 is deemed to be within acceptable levels. Samples are
sent to the Bureau Veritas preparation laboratory in Whitehorse, Yukon, where the samples are crush ed
and a 500 g split is pulverized to 85% passing 200 mesh size pulps. Clean crush material is passed
through the crusher and clean silica is pulverized between each sample. The pulps are then sent to the
Bureau Veritas laboratory in Vancouver, B.C. and 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 are 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 (>2 0.0%) we re
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. Burea u Veritas
(Vancouver) is an independent, international ISO/IEC 17025:2005 accredited laboratory.
Qualified Person Statement
Technical information in this news release has been approved by Gilles Dessureau, P.Geo, Vice President
Exploration and a ‘Qualified Person’ as defined under Canadian National Instrument 43-101.
About Fireweed Zinc Ltd. (TSXV : FWZ): Fireweed Zinc is a public mineral exploration company
focused on zinc and managed by a veteran team of mining industry professionals. The Com pany is
advancing its district-scale 544 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 option agreements on large blocks of adjacent claims (MAC, MC, MP, Jerry, BR
and NS) 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.
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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 management, 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, exploration and development
risks, 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, politi cal 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.
Footnotes:
1. The average bulk density of the mineralized rock in NB19-001 is 3.09 t/m3.
2. Estimation of true width of subintervals in Table 1 is undetermined at this time and will require additional
geological interpretation and possibly additional drilling. The Boundary Zone as a whole has a consistent
east-west orientation with a northerly dip but within that envelope, individual zones of mineralization are
variably oriented.
3. Historic results for the Boundary Zone reported in this news release are taken from historic reports
prepared by previous operators. Neither the Company or the Qualified Person has done sufficient work to
verify these results and therefore these results should not be relied upon. The Company is including them
for information purposes to explain the basis for the exploration target and reasons for drilling.
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FIGURE 1: MACMILLAN PASS MINERALIZATION AND TARGETS
SHOWING LOCATION OF BOUNDARY ZONE
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FIGURE 2: BOUNDARY ZONE GEOLOGY, MINERALIZATION AND DRILL HOLES
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FIGURE 3: BOUNDARY ZONE CROSS SECTION WITH 2019 DRILL HOLES
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TABLE 2: 2019 DRILL HOLE COLLAR DATA
Drill Hole Length (m) Target Easting Northing Elevation (m) Dip (°) Grid Azimuth (°)
TS19-001 110.0 Tom North 441686 7004448 1442 -51 077
TS19-002 119.0 Tom North 441716 7004332 1466 -51 075
TS19-003 125.0 Tom North 441628 7004602 1417 -52 059
TS19-004 234.0 Tom West 442043 7003582 1583 -77 092
TS19-005 45.0 Tom North 441804 7004295 1519 -50 077
TS19-006 54.0 Tom North 441803 7004295 1519 -60 077
TS19-007 330.0 Tom East 442002 7004363 1638 -64 073
TS19-008 84.0 Tom North 441747 7004541 1474 -50 065
TS19-009 45.0 Tom North 441770 7004426 1487 -50 065
TS19-010 184.8 Target R 440256 7005943 1211 -50 318
JS19-001 108.0 Jason North 436216 7002989 1311 -50 011
JS19-002 100.2 Jason North 436166 7002950 1300 -50 011
MP19-001 89.0 Target A 429812 7005980 1225 -50 207
MP19-002 63.2 Target G 417543 7017670 1750 -49 211
NB19-001 308.8 Boundary Zone 422379 7010432 1170 -50 216
NB19-002 357.0 Boundary Zone 422379 7010432 1170 -65 216
UTM Zone 9 NAD83