Fireweed Drills Best Intersection to Date at Boundary Zone Comprising 143.95 m at 14.45% Zinc, 1.15% Lead, and 60.0 g/t Silver for a True Width of 50 m
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NEWS RELEASE
January 09, 2024 TSXV: FWZ
OTCQB: FWEDF
FSE:M0G
Fireweed Drills Best Intersection to Date at Boundary Zone Comprising 143.95 m
at 14.45% Zinc, 1.15% Lead, and 60.0 g/t Silver for a True Width of 50 m
Vancouver, British Columbia: FIREWEED METALS CORP. (“Fireweed” or the “Company”)
(TSXV: FWZ; OTCQB: FWEDF; FSE: M0G) is pleased to report its best drill intersection from
Boundary Zone to date, as well as other spectacular assay results from its 2023 exploration at
the Macmillan Pass (“Macpass”) Project, Yukon, Canada.
Highlights
Best intersection drilled to date at Boundary Zone: hole NB23-028 intersected 143.95 m
(50 m true width) grading 14.45% zinc, 1.15% lead, and 60.0 g/t silver, including 28.71 m
(10 m true width) grading 25.52% zinc, 1.27% lead, and 91.3 g/t silver.
Successful step-out holes continue to increase the extents of known zinc mineralization
and demonstrate the high-grade tenor of the Boundary Zone mineralization.
Hole NB23-022 intersected 66.11 m (18 m true width) grading 7.13% zinc, 0.97% lead,
and 54.8 g/t silver.
Assays are pending for 1 9 remaining drillholes including six more from Boundary Zone,
and 11 holes from the Tom deposit, and two holes from the Jason deposit.
CEO Statement
Brandon Macdonald, CEO, stated, “I am excited to start the year able to say that we have
intersected our best-ever Boundary Zone drill intersection. We stepped out 140 m along strike
from NB22-002 and NB23-007 and hit a spectacular intersection in NB23-028, further supporting
our interpretation that there is a continuous high -grade feeder zone within the strati form unit at
Boundary Zone. We now have multiple wide and high-grade intersections that highlight the
potential for another large zinc system within this exceptional critical minerals project.”
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Summary
The mineralization from drill holes in this release primarily comprises stratiform (layer-parallel)
and massive (>50% sulphides) sulphides in the western and central areas of Boundary Zone.
This mineralization is sub -vertical with sharp margins, occurring from near-surface to at least a
depth of 450 m and across a strike length of 550 m. Another stratiform body is present in holes
NB23-029 and NB23-029D1 that requires additional drilling to accurately model. We also report
intersections of vein and breccia mineralization that occur on both sides of the tabular stratiform
sulphide zones. The intersection in hole NB23-028 demonstrates high zinc, lead, and silver
grades that are interpreted as forming from higher temperature fluids in association with a feeder
system supplying metals to a mineralized system.
Results
The drill holes in this release are located in the central and western areas of Boundary Zone and
targeted the stratiform to massive sulphide body with a focus on stepping out from known feeder-
style mineralization. NB23-028 intersected a broad, high-grade interval of massive sulphides rich
in zinc, lead, and silver that are correlated with this interpreted feeder zone. Stratiform massive
sulphides were also intersected in NB23-022 and NB23-029. Stratiform sulphides intersected in
NB23-022D1, NB23-029D1 are associated with a separate zone that requires additional drilling
and interpretation. Breccia and vein mineralization was also intersected in NB23-028, NB23-029,
NB23-029D1 and NB23-031.
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)
NB23-022 Primary 282.65 348.76 66.11 18 7.13 0.97 54.8 4.47
NB23-028 Primary 91.9 111.3 19.4 N/A 3.65 0.04 5.1 3.09
NB23-028 Including 94.72 98.1 3.38 N/A 8.55 0.07 8.1 3.39
NB23-028 Primary 196.1 203.8 7.7 N/A 9.95 0.04 12.7 2.86
NB23-028 Including 197.6 202.3 4.7 N/A 14.23 0.06 17.9 2.91
NB23-028 Primary 305.6 449.55 143.95 50 14.45 1.15 60.0 3.75
NB23-028 Including 310.35 314.5 4.15 1.4 14.55 4.69 163.0 3.89
NB23-028 Including 321.79 350.5 28.71 10 25.52 1.27 91.3 3.90
NB23-028 >Including 327.6 337.74 10.14 3.5 32.72 1.34 109.8 4.06
NB23-028 Including 420.31 439.61 19.3 6.7 19.06 1.12 62.7 4.00
NB23-029 Primary* 24.14 51.95 27.81 N/A 4.28 0.06 11.9 3.08
NB23-029 Including* 24.14 31.57 7.43 N/A 9.21 0.05 13.8 3.07
NB23-029 Primary* 79.27 108.45 29.18 N/A 2.93 0.02 4.6 2.77
NB23-029 Primary 238.82 255.44 16.62 N/A 8.74 0.03 11.1 3.09
NB23-029 Including 239.82 245.44 5.62 N/A 18.39 0.06 23.6 3.49
NB23-029 Primary 400.87 412.5 11.63 Unknown 7.49 1.66 34.7 3.14
NB23-029 Including 402.82 408.38 5.56 Unknown 13.21 0.96 34.1 3.42
NB23-029 Primary 514 519.76 5.76 Unknown 6.32 1.50 34.6 3.06
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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)
NB23-029 Primary 580.43 618.83 38.4 Unknown 3.06 0.08 8.2 3.47
NB23-029 Including 580.43 582.86 2.43 Unknown 11.91 0.36 26.6 4.39
NB23-029 Including 601.94 604.88 2.94 Unknown 13.21 0.09 21.5 4.30
NB23-029D1 Primary 416.75 437.5 20.75 Unknown 5.20 2.05 52.6 3.80
NB23-029D1 Including 423.5 430 6.5 Unknown 8.43 3.27 82.3 4.17
NB23-031 Primary 142.4 148.9 6.5 N/A 7.33 0.05 14.5 2.92
NB23-031 Primary 235.57 240.16 4.59 N/A 7.33 0.02 7.7 3.23
NB23-031 Primary 373.33 377.6 4.27 N/A 7.95 0.01 3.3 2.81
NB23-032 Primary 412.55 430.92 18.37 8 4.25 0.14 12.7 3.27
NB23-032 Including* 412.55 417 4.45 2 7.55 0.19 17.3 2.96
*denotes intervals with recovery of less than 85%. N/A: Not Applicable due to the variable shapes of breccia and vein
mineralization.
† See “Data Verification” for a description of true width calculations
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 34 Boundary Zone holes (Tables 1 and 2). Brief summaries of
mineralized zones within all other 2023 holes are listed in Table 3. Summaries for new drill results
reported in this news release are as follows:
Hole NB23-028 intersected a 143.95 m interval of stratiform massive sulphide grading
14.45% zinc, 1.15% lead, and 60.0 g/t silver with an estimated true width of approximately
50 m, including 28.71 m (estimated true width 10 m) of 25.52% zinc, 1.27% lead, and 91.3
g/t silver, further including 10.14 m (estimated true width 3.5 m) of 32.72% zinc, 1.34%
lead, and 109.8 g/t silver. Two intervals of vein and breccia style mineralization were also
intersected, 19.40 m grading 3.65% zinc and 5.1 g/t silver, and 7.70 m grading 9.95% zinc
and 12.7 g/t silver.
Hole NB23-022 intersected 66.11 m of stratiform massive sulphide with an estimated true
width of 18 m grading 7.13% zinc, 0.97% lead, and 54.8 g/t silver, including 50.08 m (14 m
true width of 7.99% zinc, 1.12% lead, and 61.7 g/t silver.
Hole NB23 -29D1 is a directionally -cut secondary splay hole from NB23-029 and
intersected 20.75 m of stratiform massive sulphide grading 5.20% zinc, 2.05% lead, and
52.6 g/t silver, including 6.50 m of 8.43% zinc, 3.27% lead, and 82.3 g/t silver . This
intercept of stratiform mineralization correlates to a separate, distinct body from the
primary tabular massive sulphide.
NB23-029 intersected a 5.76 m interval of stratiform massive sulphide grading 6.32% zinc,
1.50% lead, and 34.6 g/t silver, as well as a n 11.63 m interval of stratiform massive
sulphide grading 7.49% zinc, 1.66% lead, and 34.7 g/t silver. Four intervals of vein and
breccia style mineralization were also intersected: 27.81 m grading 4.28% zinc and 11.9
g/t silver; 29.18 m grading 2.93% zinc and 4.6 g/t silver; 16.62 m grading 8.74% zinc and
11.1 g/t silver; and 38.40 m grading 3.06% zinc and 8.2 g/t silver.
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Hole NB23-032 intersected 18.37 m of stratiform massive sulphide with an estimated true
width of 8 m grading 4.25% zinc, 0.14% lead, and 12.7 g/t silver, including 4.45 m of 7.55%
zinc, 0.19% lead, and 17.3 g/t silver with an estimated true width of 2 m.
Hole NB23-031 intersected three zones of breccia and vein style mineralization: 6.50 m
grading 7.33% zinc and 14.5 g/t silver; 4.59 m grading 7.33% zinc and 7.7 g/t silver; and
4.27 m grading 7.95% zinc and 3.3 g/t silver.
Hole NB23-022D1 is a directional cut off NB23- 022 and intersected a 2.50 m interval of
sulphide mineralization grading 5.13% zinc, 0.43% lead, and 33.8 g/t silver.
See Tables 1 to 4, Long Section M–M’, Cross Sections C–C’, J–J’, K–K’, L–L’, Q-Q’, 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 inter sections of zinc -lead mineralization with assays pending. The
most significant intersections can be seen on Long Section M–M’ and are listed here:
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
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 of up to 50 m at its widest point.
Extensive vein and breccia mineralization at Boundary Zone occurs both stratigraphically above
and below the main stratiform laminated massive sulphide zone. This mineralization forms within
a halo approximately 100 m 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 secondary 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
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a total equivalent metreage of 24,300 m in 2023.This was Fireweed’s largest ever program and
the biggest drill program in Yukon in 2023.
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 (“Mac pass”) Project in Yukon, Canada, which is host to one of Earth’s
largest undeveloped resources of zinc*, a critical mineral. 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% WO 3)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.
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
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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 recover ies 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 assay sample 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. With the exception of samples from NB23-031, samples were sent to the Bureau Veritas
(BV) preparation laboratory in Whitehorse, Yukon, where the samples were crushed and a 500 g split was
sent to the BV 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 lead (>25.0%) and zinc (>24.0%) were analyzed by lithium borate fusion with XRF finish
(BV Code LF726). For BV samples, silver is reported in this news release by method AQ270, and zinc and
lead are reported by LF725 or LF726. Samples from NB23-031 were sent to AGAT labs in Calgary. Samples
were crushed, of which 500 g was split and then pulverized to 90% passing 75 microns. Clean crush
material was passed through the crusher and clean silica was pulverized between each sample. The pulps
were analyzed by Aqua Regia digestion followed by Inductively Coupled Plasma Mass Spectrometry (ICP-
OES/ICP-MS) multi-element analyses (AGAT Code 201-074). All samples were also analyzed for multiple
elements by lithium borate fusion and X -ray fluorescence analysis (XRF) finish (AGAT code 11- 323). For
AGAT samples, silver is reported in this news release by method 201-074, and zinc and lead are reported
by 11- 323. Bureau Veritas (Vancouver) and AGAT (Calgary) are independent, international ISO/IEC
17025:2017 accredited laboratories.
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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 the 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, and confirmed by portable XRF (X -Ray fluorescence). No absolute visual
estimates of mineral abundances or inferences of potential 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
reclamation expenses, expenditure and financing requirements, general economic conditions, changes in
financial markets, the ability to properly and efficiently staff the Company’s operati ons, 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 weather,
technological change, industry practices, uncertainties involved in the interpretation of drilling results and
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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 2 3, 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 disclosed 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/