Fireweed Intersects 44 m true width of 18.98% Zinc, 2.24% Lead and 114.9 g/t Silver, and 47 m true width of 11.58% Zinc, 1.75% Lead and 54.9 g/t Silver at Boundary Zone
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NEWS RELEASE
January 22, 2024 TSXV: FWZ
OTCQB: FWEDF
FSE:M0G
Fireweed Intersects 44 m true width of 18.98% Zinc, 2.24% Lead and 114.9 g/t
Silver, and 47 m true width of 11.58% Zinc, 1.75% Lead and 54.9 g/t Silver at
Boundary Zone
Vancouver, British Columbia: FIREWEED METALS CORP. (“Fireweed” or the “Company”)
(TSXV: FWZ; OTCQB: FWEDF; FSE: M0G ) is pleased to report the final results from the 2023
Boundary Zone drilling campaign at its Macmillan Pass (“Macpass”) Project, Yukon, Canada.
Highlights
Hole NB23-036 intersected 45.22 m of 18.98% zinc, 2.24% lead and 114.9 g/t silver (44 m
true width) including 39.22 m of 20.84% zinc, 2.48% lead and 115.4 g/t silver.
Hole NB23-037 intersected 118.36 m of 11.58% zinc, 1.75% lead and 54.9 g/t silver (47 m
true width) including 27.63 m of 19.06% zinc, 0.74% lead and 58.2 g/t silver.
Assays are pending for 11 holes from the Tom deposit, and two holes from the Jason
deposit.
CEO Statement
Brandon Macdonald, CEO, stated, “ 2023 was a pivotal year at Boundary Zone in which we
discovered a high-grade feeder system that connects the mineralization and forms a continuous
zone with increasing grade and true widths at depth. These final results exemplify the spectacular
grades that we see at this best-in -class project, with holes from this year containing not just the
feeder zone, but also the vein mineralization halo around it that contains some remarkably high-
grade breccias. These final holes from the 2023 season solidify Boundary Zone as a significant
addition to the Macpass project, and with a few holes still pending from Tom and Jason, we are
looking forward to integrating all results into a mineral resource estimate in the coming months to
begin to understand the enormity of the mineral endowment within this premier zinc district.”
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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 . We also report intersections of vein and
breccia mineralization that occur on both sides of the tabular stratiform sulphide zones. The
intersection in holes NB23-036 and NB23-037 continue to demonstrate high zinc, lead, and silver
grades that are interpreted as forming from higher temperature fluids in association with a feeder
zone 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. Holes NB23-036 and NB23-037 intersected broad, high-grade interval s of
massive sulphides rich in zinc, lead, and silver that are correlated with this interpreted feeder
zone. Stratiform massive sulphides were also intersected in NB23-0 34 and NB23-038. Breccia
and vein mineralization was intersected in NB23-0 33, NB23-0 34, NB23-0 35 and NB23-03 6,
NB23-037 and NB23-038.
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)
NB23-034 Primary 426.78 479.78 53.00 21 12.07 1.05 53.6 4.05
NB23-034 Including 436.87 472.38 35.51 14 15.61 0.92 57.0 4.07
NB23-035 Primary 396.96 417.18 20.22 Unknown 6.51 1.15 51.5 3.54
NB23-036 Primary 95.50 171.32 75.82 N/A 4.21 0.25 9.9 2.87
NB23-036 Including 108.87 121.5 12.63 N/A 6.97 0.32 16.6 3.10
NB23-036 >Including 108.87 112.56 3.69 N/A 14.41 0.08 17.4 3.23
NB23-036 Including 156.00 171.32 15.32 N/A 7.31 0.90 19.1 2.87
NB23-036 Primary 210.33 255.55 45.22 44 18.98 2.24 114.9 4.13
NB23-036 Including 235.64 243.74 8.10 7.9 28.90 4.75 142.2 3.95
NB23-036 Primary 304.06 381.99 77.93 N/A 2.58 0.31 9.8 3.25
NB23-036 Including 328.18 334.21 6.03 N/A 5.37 0.08 7.1 3.25
NB23-037 Primary 352.74 471.1 118.36 47 11.58 1.75 54.9 3.81
NB23-037 >Including 353.71 360.34 6.63 2.6 15.89 3.39 158.7 4.40
NB23-037 >Including 405.68 433.31 27.63 11 19.06 0.74 58.2 3.78
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 successfully intersected extensive pyrite-sphalerite-galena as stratiform massive
sulphides, laminated mineralization, veins, and breccias in the 2023 step-outs (Photos 1 to 3) .
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Mineralization has been intersected in every step-out hole that has been completed to depth.
Assays have now been received for all 2023 Boundary Zone holes (Tables 1 and 2). Summaries
for new drill results reported in this news release are as follows:
Hole NB23- 036 intersected 45.22 m (estimated true width of 44 m) of laminated and
massive sulphides grading 18.98% zinc, 2.24% lead, and 114.9 g/t silver, a near surface
interval of breccia and vein mineralization 75.82 m in width grading 4.21% zinc, 0.25%
lead and 9.9 g/t silver and another interval of breccia and vei n mineralization 77.93 m in
width grading 2.58% zinc, 0.31% lead and 9.8 g/t silver.
Hole NB23-037 intersected 118.36 m (estimated true width of 47 m) of laminated and
massive sulphides grading 11.58% zinc, 1.75% lead and 54.9 g/t silver, as well as two
near surface intervals of breccia and vein mineralization 11.57 m in width grading 8.05%
zinc and 14.6 g/t silver and 2.95 m in width grading 10.20% zinc and 14.8 g/t silver.
Hole NB23- 034 intersected 53.00 m (estimated true width of 21 m) of laminated and
massive sulphides grading 12.07% zinc, 1.05% lead and 53.6 g/t silver , and also an
interval of breccia and vein mineralization 25.96 m in width grading 3.97% zinc and 8.9 g/t
silver.
Hole NB23-035 intersected 20.22 m of stratiform and massive sulphide with an unknown
true width grading 6.51% zinc, 1.15% lead and 51.5 g/t silver as well as three near surface
intervals of breccia and vein mineralization: 5.17 m grading 17.81% zinc and 19.1 g/t silver;
6.36 m grading 5.94% zinc, 0.15% lead and 9.8 g/t silver; and 6.45 m grading 3.00% zinc
and 4.2 g/t silver.
Hole NB23- 038 intersected 12.91 m (estimated true width of 9.0 m) of stratiform and
massive sulphide grading 5.00% zinc, 0.97% lead and 44.4 g/t silver, and an interval of
breccia and vein mineralization 23.16 m in width grading 2.04% zinc and 7.8 g/t silver.
Hole NB23- 033 intersected three intervals of breccia and vein mineralization: 4.76 m
grading 12.10% zinc, 0.61% lead and 27.2 g/t silver; 8.76 m grading 3.05% zinc and 5.9
g/t silver; and 6.58 m grading 5.55% zinc and 5.8 g/t silver.
See Tables 1 to 4, Long Section M–M’, Cross Sections C–C’, K–K’, N–N’, R–R’, S–S’ and Maps
2 and 3 below for further details.
Out of the 39 holes that were successfully completed to depth at Boundary Zone in 2023, only 3
were infill holes; the remaining 36 were step-out holes that tested the vein and breccia
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 at least 220 m in strike.
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. The zone
remains open for extension.
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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
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 Resources 1 (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 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. S amples 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
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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. Bureau Veritas
(Vancouver) is an independent, international ISO/IEC 17025:2017 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 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.
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
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strategic partners, governmental regulations and oversight, permitting, seasonality and weather,
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 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/
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Map 1: Macpass Project and Mactung Project locations