Fireweed Intersects 4.42% Zinc over 212.70 m Including 25.58% Zinc over 5.81 m at Boundary Zone
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NEWS RELEASE
January 26th, 2021 TSXV: FWZ
Fireweed Intersects 4.42% Zinc over 212.70 m
Including 25.58% Zinc over 5.81 m at Boundary Zone
Vancouver, British Columbia: FIREWEED ZINC LTD. (“Fireweed”) (TSXV: FWZ) is pleased to
announce the first results from the 2020 drilling at the Macmillan Pass Project in Yukon, Canada. These
results are from Boundary Zone, located 15 road kilometres west of the Tom-Jason deposits (see Map 1).
Highlights
• Significant assays over wide sections have been received from the first two diamond drill hole s,
NB20-001 and NB20-002, drilled in the central Boundary Zone area.
• Hole NB20-002 intersected 4.42% Zinc, 0.08% Lead and 10.7 g/t Silver over 212.70 m, including
25.58% Zinc, 0.14% Lead and 44.0 g/t Silver over 5.81 m.
• Hole NB20-001 intersected 2.60% Zinc, 0.06% Lead and 5.9 g/t Silver over 246.68 m from surface
including 23.62% Zinc, 0.22% Lead and 53.7 g/t Silver over 4.95 m.
• Assays from other holes including the new discovery at Boundary Zone West are pending.
Table 1: Highlights of initial 2020 results from central Boundary Zone (length and density weighted average
assays).
Drill Hole From
(m) To (m) Interval
(m)
Zinc
(%)
Lead
(%)
Silver
(g/t)
Bulk
Density
(t/m3)
NB20-001 2.20 248.88 246.68 2.60 0.06 5.9 2.96
>including 4.87 7.00 2.13 10.09 0.02 7.7 3.05
>and 47.74 49.74 2.00 12.08 0.02 10.5 3.33
>and 57.76 58.73 0.97 32.40 0.09 42.0 3.20
>and 74.99 77.00 2.01 10.41 0.01 6.6 3.00
>and 136.15 173.00 36.85 6.75 0.04 14.9 2.89
>>including 136.15 141.10 4.95 23.62 0.22 53.7 3.15
>>and 149.05 150.20 1.15 17.57 0.08 36.1 3.18
>>and 156.42 157.70 1.28 14.96 0.01 26.4 2.95
>>and 171.00 173.00 2.00 10.63 0.05 27.3 2.84
NB20-002 48.30 261.00 212.70 4.42 0.08 10.7 2.87
>including 48.30 52.00 3.70 12.05 0.10 15.1 3.54
>and 70.16 76.00 5.84 15.49 0.06 31.7 3.16
>and 153.00 192.55 39.55 7.69 0.26 24.5 2.87
>>including 160.00 171.00 11.00 11.46 0.25 33.7 2.89
>>and 189.84 192.55 2.71 39.46 1.07 120.5 3.41
>including 204.00 205.00 1.00 8.49 0.24 25.1 2.90
and 227.00 260.00 33.00 8.38 0.04 14.7 2.88
>including 228.19 234.00 5.81 25.58 0.14 44.0 3.15
>and 239.00 250.00 11.00 8.20 0.01 14.2 2.87
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CEO Statement
Brandon Macdonald, CEO, stated “These first assays have been a long time coming due to slow turn around
at the lab while they operate under COVID-19 limitations. The assays reported here are from the first two
holes drilled in the central Boundary Zone area in 2020. We are pleased to see more good grades extending
this wide zone of mineralization with very high-grade sections to depth in the central Boundary Zone area.
Overall a belated but great start to the 2020 drill assays.”
2020 Drill Results
The 2020 drill program was completed in October , but these are the first assays to be announced due to
slow turn around at the lab operating under COVID-19 limitations. Infill and step-out drilling at Boundary
Zone (Map 2) has successfully encountered wide zones of zinc-lead mineralization, significantly expanding
the extent of the known mineralization. D rill hole NB20-002, reported in this news release, was drilled
obliquely, and in the opposite direction to previous drilling and extends central Boundary Zone 150 m
beyond previously drilled mineralization in this direction. This 150 m extension includes high-grade zinc
mineralization, such as the 33 m intersection of 8.38% Zinc (227-260 m) that includes 5.81 m of 25.58%
Zinc (Table 1). Central Boundary Zone now extends from surface down to 300 m. The zone remains open
at depth as hole NB20-002 was terminated in mineralization due to drilling difficulties and would otherwise
have been drilled deeper.
At central Boundary Zone, Fireweed drill h oles from 2020 (NB20-001 and NB20-002), and 2019 (NB19-
001 and NB19-002) were all drilled at different azimuths or dips (see Map 2 and Section 1) to test whether
vein orientations are biasing grades in drill holes oriented near-parallel to the veins. Consistent average zinc
grades throughout all four holes suggest that there is not a significant grade bias that is dependent on drill
orientation and that the mineralization comprises an approximately 230-250 m thick stratabound sequence
with vein stockworks, breccias and replacement-style zinc mineralization. True widths of individual cm- to
m-scale veins intersected in NB20 -001 and NB20- 002 vary greatly from 20 % to 95% of intersected
thicknesses but the overall true thickness of central Boundary Zone is 230-250 m.
A total of nine holes were drilled at Boundary Zone this season for 2,948 m (Map 2 and Table 4). Additional
2020 drill holes targeted a ground-gravity high anomaly surveyed in 2020 and resulted in the discovery of
new wide sections of pyrite-sphalerite-galena mineralization , extending Boundary Zone at least 360 m to
the west in a new discovery named Boundary Zone West. Assays for the discovery holes at Boundary Zone
West are pending and descriptions of all holes drilled in the 2020 season are in Table 5.
Boundary Zone Potential
There is no mineral resource 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 a n open pit with a low strip ratio and to be upgraded through low cost ,
pre-concentration ore sorting processes (see Fireweed news release dated July 31, 2019). Recent drill results
at Boundary Zone along with Tom North Zone and End Zone (see Fireweed news releases dated August 20
and 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
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. Drilling in 2020 at
Boundary Zone West also identified stratiform mineralized sequences similar to the Tom and Jason deposits
(see news release dated November 24, 2020).
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Historical exploration work at Boundary Zone included geochemical and geophysical surveys as well as 24
drill holes that defined a central 200 x 800 m mineralized zone of zinc ( -lead-silver) mineralization within
a broader system over 2 km in strike length. Historical length-weighted average intersections1 such as 224.0
m of 2.50% zinc and 0.30% lead, including 4.5 m of 16.40% zinc, are consistent with recent Fireweed
drilling and demonstrated potential for bulk tonnage open pit mineralization.
In 2019, Fireweed drilled two holes into the central part of the known Boundary Zone mineralization. Both
holes intersected wide zones of high -grade replacement -style and vein- and breccia-hosted zinc
mineralization, including 100.0 m (true width) of 8.73% zinc from surface including 6.4 m of 43.53% zinc
within 230.0 m of 4.51% zinc (see Tables 6A, 6B and Fireweed news release dated November 5th, 2019).
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%. After drilling, core was
logged for geology, structure and geotechnical characteristics, marked for sampling, and photographed on
site. The cores for analyses were 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 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 2020 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 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 Spectr ometry (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 (>2 4.0%) 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 in prior years, only length
weighted assay averages were reported which may result in slightly lower (under reported) average values.
To allow comparison of 2019 Boundary Zone drilling with 2020 results, 2019 intersections from holes
NB19-001 and NB19-002 have been re-stated in Table s 6A and 6 B as length and bulk-density weighted
averages (originally reported in Fireweed news releases dated 16th October and 5th November 2019). Length
and bulk-density weighted averages have been reported as these most accurately represent the average
metal-content of the intersections.
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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 exploratio n company
focused on zinc 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 co ntain “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, 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.
Footnotes:
1. 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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Map 1 – Macmillan Pass Project:
Locations of the 2020 exploration targets, advanced prospects, and known deposits.
Page 6 of 12
Map 2 – Boundary Zone:
Locations of the 2020 diamond drill holes and cross-section A-A’.
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Section 1: Boundary Zone Cross-Section A-A’.
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Table 2: Boundary Zone drill hole NB20-001 detailed results.
Drill Hole From
(m) To (m) Interval
(m) Zinc (%) Lead
(%)
Silver
(g/t)
Bulk Density
(t/m3)
NB20-001 2.20 248.88 246.68 2.60 0.06 5.9 2.96
>including 4.87 174.00 169.13 3.13 0.02 5.9 2.97
>>including 4.87 7.00 2.13 10.09 0.02 7.7 3.05
>>and 47.74 49.74 2.00 12.08 0.02 10.5 3.33
>>and 57.76 58.73 0.97 32.40 0.09 42.0 3.20
>>and 74.99 77.00 2.01 10.41 0.01 6.6 3.00
>>and 82.48 83.38 0.90 10.26 0.02 14.2 2.82
>>and 136.15 173.00 36.85 6.75 0.04 14.9 2.89
>>>including 136.15 141.10 4.95 23.62 0.22 53.7 3.15
>>>and 149.05 150.20 1.15 17.57 0.08 36.1 3.18
>>>and 156.42 157.70 1.28 14.96 0.01 26.4 2.95
>>>and 166.00 167.00 1.00 10.58 0.04 24.5 2.73
>>>and 171.00 173.00 2.00 10.63 0.05 27.3 2.84
>and 174.00 202.40 28.40 0.50 0.02 1.7 2.77
>and 202.40 220.00 17.60 2.02 0.21 11.1 3.06
>and 220.00 233.00 13.00 0.56 0.41 7.5 3.11
>and 233.00 248.88 15.88 3.07 0.09 6.5 3.01
268.54 278.25 9.71 1.63 0.14 4.6 3.00