Fireweed Identifies New Targets at Gayna
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NEWS RELEASE
17 November 2022 TSXV: FWZ
OTCQB: FWEDF
FSE:20F
FIREWEED IDENTIFIES NEW TARGETS AT GAYNA RIVER, NWT, FOLLOWING
COMPLETION OF FIRST EXPLORATION PROGRAM
Vancouver, British Columbia: FIREWEED METALS CORP. (“Fireweed” or the “Company”)
(TSXV: FWZ; OTCQB: FWEDF, formerly Fireweed Zinc Ltd.) is pleased to announce the results
from the 2022 initial exploration program at the Gayna River project, Northwest Territories,
Canada (Figure 1).
Highlights
• High-grade rock samples confirmed the presence of massive sulphide mineralization
that also contains elevated gallium and germanium (all 8 grab samples graded better
than 7% zinc, including one at 51% zinc; one of these samples also graded 74% lead) .
• Soil samples confirmed the presence of a strong, 4 km x 1 km, historical zinc and lead
soil anomaly (all 10 samples returned over 4,000 ppm lead including one sample
containing 27.5% lead and 176 g/t silver).
• Results from a 52.7 line-km ground gravity survey have highlighted multiple potential drill
targets.
• Completion of a LiDAR topographic survey over the entire 128.75 km2 property has
generated accurate location data for future drilling and other exploration work.
CEO Statement
Brandon Macdonald, CEO, stated “The results from this year’s exploration program at Gayna
River demonstrate that there is potential for high-grade massive sulphides here, consistent with
our approach in exploring for Kipushi-style high-grade targets around the margins of these
ancient carbonate reefs. The soil sampling confirmed the presence of a large lead anomaly at
the Jaws target that could represent the top of a shallowly buried reef. This soil anomaly is large
and intense—the Jaws target has a central area of 4 km x 1 km with soils over 100 ppm lead
and peak values over 27% lead. The coincident geological, geochemical, and geophysical
anomalies at both the Jaws target and the ABC showings are very favourable in terms of the
potential for high-grade zinc-lead-silver mineralization in the near surface. With these excellent
initial results, we are very excited to advance these targets further.”.
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Ground gravity survey
A 52.7 line-km ground gravity survey was completed over two areas identified as geologically
favourable based on their proximity to carbonate reef rocks and possible buried reef margins
(Figures 2 and 3). A relatively tight station spacing of 50 m was used since the project is being
explored for a potential Kipushi-style target—high-grade mineralization on the steeply dipping
sides of Neoproterozoic carbonate reefs (see Fireweed News Release dated May 10, 2022 for
details)—where steeply dipping massive sulphide lenses may have been missed by previous
exploration programs that used wider spaced vertical drill holes (Figure 4).
In all three survey areas, gravity highs align with areas Fireweed has identified as having high
potential for buried reef margins (Figures 2 and 3). Due to rheological and permeability
contrasts, these margins may have served as conduits for mineralizing fluids and therefore have
greater potential for hosting sulphide mineralization.
Ground gravity has been a very successful tool in Fireweed’s exploration of the Boundary Zone
area at the Macmillan Pass zinc-lead-silver project, Yukon. There, gravity anomalies have
provided targets for new discoveries and step-out drill holes that have intersected multiple styles
and thicknesses of sulphide mineralization within 100-200 m of surface (see Fireweed News
Release dated November 10, 2022). Gravity anomalies identified at Gayna River may similarly
be associated with potential sulphide bodies relatively close to surface.
Rock sampling and mapping
Rock sampling formed part of a geological field campaign to ground truth the geology and
recorded mineral occurrences and showings on the property (Figures 1 and 4). Samples
confirmed the presence of high-grade zinc and lead sulphide mineralization at surface, as well
elevated concentrations of the critical minerals gallium and germanium. Eight grab samples
were analysed in total, including dolostones, dolostone breccias, limestones, and veins.
Examples are shown in Figures 5, 6 and 7. All had grades of >7% zinc, and up to 73.7 % lead,
9.2% zinc and 40.5 ppm silver in one sample (Table 1). The highest zinc grade was 51.2% in a
sample that also contained 42 ppm gallium and 39 ppm germanium. Appreciable grades of
gallium and germanium were also present in many of the samples, with up to 42 ppm gallium
and 99 ppm germanium in different samples, notably in those with higher zinc grades.
Sample Zn
(%)
Pb
(%)
Ag
(ppm)
Ga
(ppm)
Ge
(ppm)
Target Easting Northing
3200018 9.7 0.1 2.9 5 14 A Showing 419512 7203599
3200019 7.3 0.02 <0.5 3 9 F Showing 420506 7203716
3200020 16.8 <0.01 7.4 16 62 B Showing 418370 7203568
3200021 33.3 0.02 6.4 6 44 A Showing 419481 7203535
3200022 27.7 0.02 0.9 4 29 A Showing 419467 7203510
3200024 9.3 73.7 40.5 4 88 C Showing 418087 7203727
3200025 51.2 0.05 1.2 42 39 D Showing 416623 7207019
3200026 24.6 0.02 18.4 2 99 G Showing 421884 7201915
Coordinate reference system: UTM Zone 9 NAD83
Table 1: Rock sample results and locations.
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Results of the rock sampling and ground truthing program are informing modelling efforts that
will integrate a growing database of historical geological, geochemical, and drill hole data.
Soils
Fireweed completed a small soil sampling program of ten samples across the Jaws anomaly
(Figures 8 and 9), an area of very high lead-in-soil values in historical soil geochemical data.
The 2022 sampling was carried out over an area with the highest historic lead-in-soil values
within a broader 4 km x 1 km >100 ppm lead anomaly in order to verify its location and
magnitude. All ten samples ran over 4,000 ppm lead, including seven samples over 1% lead,
one sample of 27.5% lead and 176 ppm silver, and another with 0.75% zinc, confirming the
presence of a very strong soil anomaly, and validating the high lead- and zinc-in soil values in
the rest of the historical soil geochemical dataset.
The historical soil anomalies are spatially coincident with some of the potential reef margin
target areas identified geologically as well as with new ground gravity anomalies. Combined,
these form tantalizing drill targets for future exploration programs.
LiDAR
A LiDAR survey was flown over the entire 128.75 km2 property (455 line-km) to generate a very
high-resolution topographic surface that will provide a base map for future exploration work,
including planning of future drill programs, mapping geological units and structures, interpreting
surficial geology and geomorphological features, planning access and infrastructure, and
locating historic exploration features like drill pads to allow the verification of historic drill collar
locations. The primary function this season was to enable high-resolution terrain corrections for
the ground gravity survey completed on the property this summer. The LiDAR survey acquired
high resolution orthophotos that will further assist in planning future work.
Gayna River geology and mineralization
Fireweed acquired the Gayna River project by staking in Q2 2022 at very low cost. Fireweed is
leveraging a new idea about how zinc-lead mineralization formed at Gayna River, revitalizing
exploration in this historic district, and chasing the potential for Kipushi-style high-grade massive
sulphide zinc-lead-silver-gallium-germanium mineralization around the margins of
Neoproterozoic stromatolite reefs.
Mineralization at Gayna River occurs in veins and breccias in carbonate rocks similar to
Mississippi-Valley-Type (MVT) mineralization, or Irish-type zinc-lead mineralization (see
Fireweed News Release dated May 10, 2022). Sphalerite and minor galena occur as infill within
veins, vugs, and breccias along with dolomite-calcite-quartz-pyrite, seen in a number of
showings across the property (Figures 1 and 4). Historic grab samples contain elevated
concentrations of the critical metals gallium (up to 68 ppm) and germanium (up to 15.6 ppm),
very similar to values seen in 2022 rock samples.
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Jaws anomaly
The Jaws anomaly comprises a very strong lead- and zinc-in-soil anomaly that spans an area
over 4 km in length and 1 km in width (Figures 8 and 9). Fireweed’s 2022 soil sampling program
ground truthed the Jaws soil anomaly. There are no limestone reef rocks exposed, however
dolostone rock units normally found just above the reefs may provide cover to a shallowly buried
blind reef. The soil anomaly is centered around an area of subtly lower gravity flanked by gravity
highs consistent with an exploration target comprising a lower density limestone reef with
denser zinc mineralization and dolostone around the reef margins.
Historical data verification
A number of data verification steps have been taken to assess the accuracy and reproducibility
of historical data. Historical soil sample locations have been digitized from 1970s maps
produced by Cordilleran Engineering for Rio Tinto. The maps show drill collars from the same
era, the levelled drill pad areas of which can also be seen in the 2022 LiDAR elevation dataset.
There is very good agreement between the drill collar locations identified in the LiDAR data and
the collar locations digitized on historic maps, with locations typically within 10-15 m of those
shown on the maps. This adds confidence to the reported soil sample point locations and
serves as another form of spatial data validation.
The historical soil sample dataset includes 5,376 samples collected in 1975-1977 and analysed
for lead, zinc, silver, copper, and cadmium using atomic absorption spectroscopy. Reports also
include analytical results of certified reference materials, allowing basic QAQC work on
historical data. The similar high-grade results obtained in the 2022 soil sampling program over a
large lead-in-soil anomaly at the Jaws anomaly also add confidence to the accuracy of historic
data.
Government grant
Fireweed was awarded a Mining Incentive Program (MIP) grant from the Government of the
Northwest Territories to assist the exploration program. The grant was valued at $132,000,
significantly reducing the cost of the 2022 exploration program for Fireweed.
Note on analytical methods
Rock samples from the 2022 field program 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 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). Samples were subjected to
fire assay for gold, platinum and palladium by fusion followed by ICP-ES analysis (BV Code
FA330), as well as assay for gallium and germanium by hydrofluoric acid and Aqua Regia
digestion followed by ICP-MS analysis (BV Code GC204). For rock samples, silver is reported in
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this news release by method AQ270, zinc and lead are reported by LF725 or LF726, and gallium
and germanium by GS204.
Soil samples were sent to the Bureau Veritas preparation laboratory in Whitehorse, Yukon,
where the samples were dried at 60°C and sieved through a 230-mesh size to produce a 100 g
split that was sent to the Bureau Veritas laboratory in Vancouver, B.C. The pulps were analyzed
by 1:1:1 Aqua Regia digestion followed by Inductively Coupled Plasma Mass Spectrometry
(ICP-MS) multi-element analyses (BV Code AQ250). Over-limit silver (>100 ppm) and lead
(>1%) samples were also analyzed for using Aqua Regia digestions followed by Atomic
Absorption Spectroscopy (AAS) (BV Codes AR401, AR404). One very high over-limit lead
(>20%) sample was analysed using classical titration (BV Code GC817). For soil samples, zinc
is reported in this news release by method AQ250, silver by AQ250 or AR401, lead by AQ250,
AR401 or GC817, and gallium and germanium by GS204.
Bureau Veritas (Vancouver) is an independent, international ISO/IEC 17025:2005 accredited
laboratory. L aboratory blanks, duplicates, and standards were analysed as part of routine data
QAQC.
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.
About Fireweed Metals Corp. (TSXV: FWZ; OTCQB: FWEDF; FSE:20F): Fireweed Metals is a
public mineral exploration company on the leading edge of Critical Minerals project development. The
Company has three projects located in northern Canada:
• Macmillan Pass Zinc-Lead-Silver Project: Fireweed owns 100% of the district-scale 940 km2
Macmillan Pass project in Yukon, Canada, which is host to the Tom and Jason zinc-lead-silver
deposits with current Mineral Resources and a PEA economic study (see Fireweed news
releases dated 10 th January 2018, and 23 rd May 2018, respectively, and reports filed on
www.sedar.com for details) as well as the Boundary Zone, Boundary Zone West, 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 with
known showings and significant upside exploration potential. The large 2022 drill program
utilizing four drills is now complete and assay results are pending.
• Mactung Tungsten Project: The Company has a binding Letter of Intent to acquire 100%
interest in the 37.6 km 2 Mactung Tungsten Project located adjacent to the Macmillan Pass
Project. Mactung contains historic resources that make it one of the largest and highest-grade
undeveloped tungsten resources in the world. Located in Canada, it is one of the rare large
tungsten resources outside of China. Due diligence and validation work on historic data as
well as relogging and sampling of historic drill core is underway and will support a new
mineral resource estimate.
• Gayna River Zinc-Gallium- Germanium Project: Fireweed has 100% of the 128.75 km 2
Gayna River project located 180 kilometres north of the Macmillan Pass project. It is host to
extensive critical minerals mineralization including zinc, gallium and germanium as well as lead
and silver, outlined by 28,000 metres of historic drilling and significant upside potential. The
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2022 field program of airborne LiDAR topographic surveying and ground geophysics is now
complete and data is being interpreted toward defining 2023 drill targets.
In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed
(OTCQB: FWEDF) trades on the OTCQB Venture Market for early stage and developing U.S. and
international companies and is DTC eligible for enhanced electronic clearing and settlement. The
Company is current in its reporting, and undergoes an annual verification and management
certification process. Investors can find Real-Time quotes and market information for the Company on
www.otcmarkets.com. In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock Exchange.
Additional information about Fireweed and its projects can be found on the Company’s website at
www.FireweedMetals.com and at www.sedar.com .
ON BEHALF OF FIREWEED METALS CORP.
“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
Forward Looking Statements
This news release may contain “forward-looking” statements and information relating to the
Company and its projects 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, 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. 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.
Contact:
Brandon Macdonald
Phone: (604) 646-8361
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Figure 1: Gayna River property map
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Figure 2: Ground gravity survey results at the Jaws anomaly, showing the residual Bouguer
anomaly following a first order trend removal.