Fireweed Intersects 81.3 m of 8.5% Zinc, 1.1% Lead, and 47.0 g/t Silver, Including 12.4 m of 17.2% Zinc, 2.0% Lead, and 79.1 g/t Silver at Boundary Zone Fireweed continues to grow Boundary Zone with multiple wide, high-grade zones of zinc-
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NEWS RELEASE
October 24, 2023 TSXV: FWZ
OTCQB: FWEDF
FSE:M0G
Fireweed Intersects 81.3 m of 8.5% Zinc, 1.1% Lead, and 47.0 g/t Silver, Including
12.4 m of 17.2% Zinc, 2.0% Lead, and 79.1 g/t Silver at Boundary Zone
Fireweed continues to grow Boundary Zone with multiple wide, high-grade zones of zinc-
lead-silver mineralization in step-out holes within stratiform, laminated to massive
sulphides, which demonstrate strong continuity of the system, and potential for further
step-outs of the mineralized zones.
Hole NB23-016 intersected 81.3 m (35 m estimated true width) of 8.5% zinc, 1.1% lead,
and 47.0 g/t silver, including 12.4 m of 17.2% zinc, 2.0% lead, and 79.1 g/t silver. This
hole also intersected a separate interval of 12.84 m grading 4.5% zinc and 8.8 g/t silver.
Hole NB23-012 intersected 67.78 m (41 m estimated true width) grading 6.3% zinc, 1.2%
lead, and 52.0 g/t silver including 10.52 m of 12.8% zinc, 2.3% lead, and 105.7 g/t silver.
Hole NB23-011 intersected 44.83 m (8.5 m estimated true width) grading 8.3% zinc, 1.2%
lead, and 42.9 g/t silver including 18.83 m of 12.2% zinc, 1.3% lead, and 63.9 g/t silver.
Assays are pending for 24 remaining drillholes from Boundary Zone, 10 holes from the
Tom deposit and 2 holes from the Jason deposit.
Vancouver, British Columbia: FIREWEED METALS CORP. (“Fireweed” or the “Company”)
(TSXV: FWZ; OTCQB: FWEDF) is pleased to report additional assay results from its 2023
exploration at the Macmillan Pass (“Macpass”) Project, Yukon, Canada, and provide an update
from its largest ever drill program.
CEO Statement
Brandon Macdonald, CEO, stated, “We are delighted by the continued demonstration of scale,
strength, and continuity of mineralization at the Boundary Zone. The results today further illustrate
the significance of Boundary Zone within the Macpass Project. Critically, the recent results give
us a clearer picture of the geometries of the stratiform massive sulphide zones and surrounding
vein, breccia, and replacement style mineralization. We have now completed our largest ever drill
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program, which has started to reveal the true scale of the mineralization at Boundary Zone and
we eagerly await many more results from Boundary Zone, and the Tom and Jason deposits.”
Results from Boundary Zone
Following up on drilling from 2022 and the compelling initial results of the 2023 program to date,
Fireweed continues to test the extents of the high-grade feeder zone target. Thi s zone is
interpreted to occur as at least one tabular layer within a broader sediment hosted massive
sulphide system. Drilling also continues to define the more distal expressions of this stratiform
system near surface, as well as delineating the extensive replacement, vein, and breccia styles
of mineralization. The results from 2023 continue to return high-grade zinc values that support
the stratiform mineralization model, as well as better defining the vein, breccia and replacement
mineralization near surface.
Table 1: Assay highlights for holes 011 to 016 of 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)
NB23-011 Primary 204.5 249.3 44.83 8.5 8.3 1.2 42.9 3.2
NB23-011 Including 204.5 223.3 18.83 3.6 12.2 1.3 63.9 3.5
NB23-011 >Including 208.5 214.5 6.00 1.1 20.7 2.3 107.8 3.5
NB23-012 Primary 223.5 291.3 67.78 41 6.3 1.2 52.0 3.9
NB23-012 Including 223.5 279.1 55.57 34 7.2 1.4 57.1 3.9
NB23-012 >Including 223.5 234.0 10.52 6.3 12.8 2.3 105.7 3.8
NB23-012 >>Including 225.5 231.0 5.52 3.3 16.7 3.1 136.2 4.0
NB23-012 Primary 320.1 352.4 32.26 N/A 3.0 0.0 5.9 3.0
NB23-012 Including 320.1 328.5 8.36 N/A 4.6 0.1 8.3 3.1
NB23-013 Primary 408.1 437.9 29.77 20 2.9 0.3 27.7 4.3
NB23-013 Including 415.5 427.2 11.66 7.8 4.8 0.5 37.0 4.7
NB23-014 Primary 71.1 83.3 12.17 N/A 4.3 1.5 38.3 3.4
NB23-014 Including 78.0 83.3 5.27 N/A 6.7 3.0 66.2 3.3
NB23-014 Primary 149.9 161.4 11.53 N/A 3.2 0.3 9.7 3.3
NB23-015 Primary 124.1 220.0 95.87 N/A 3.2 1.1 18.5 3.1
NB23-015 Including 141.5 176.5 34.98 N/A 6.0 1.9 28.3 3.0
NB23-015 >Including 146.9 157.5 10.63 N/A 10.5 4.9 64.6 3.1
NB23-015 Including 215.7 220.0 4.26 N/A 6.1 4.4 78.6 3.7
NB23-015 Primary 253.9 297.8 43.98 N/A 2.0 0.7 13.1 3.3
NB23-015 Including 274.0 278.0 3.94 N/A 7.0 0.6 14.7 3.1
NB23-016 Primary 135.8 148.6 12.84 N/A 4.5 0.1 8.8 3.6
NB23-016 Primary 332.9 414.2 81.34 35 8.5 1.1 47.0 3.7
NB23-016 Including 332.9 405.9 73.02 31 9.0 1.1 50.1 3.7
NB23-016 >Including 332.9 337.5 4.62 2.0 12.1 1.4 72.5 4.2
NB23-016 >Including 349.0 399.0 50.04 21 10.7 1.3 55.6 3.8
NB23-016 >>Including 352.0 364.4 12.39 5.3 17.2 2.0 79.1 4.2
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Fireweed continues to successfully intersect pyrite-sphalerite-galena as stratiform massive
sulphides, laminated mineralization, replacement mineralization, veins, and breccias in the 2023
step-outs (Photos 1 to 3). Zinc mineralization has been intersected in every step-out hole that has
been completed to depth. Assays have been received for the first sixteen Boundary Zone holes
(Tables 1 and 2). Brief summaries of mineralized zones within all other holes at Boundary Zone,
Tom, and Jason along with outcomes from exploration holes are listed in Table 3.
Hole NB23-016 intersected an 81.34 m interval of stratiform massive sulphide grading
8.46% zinc, 1.06% lead, and 47.0 g/t silver with an estimated true width of approximately
35 m. In addition, two other distinct intervals were intersected, comprising 12.84 m of
4.54% zinc, and 8.8 g/t silver, and 7.68 m of 6.87% zinc, and 9.5 g/t silver.
Hole NB23-012 intersected a 67.78 m intersection (41 m estimated true width) correlated
with the stratiform massive sulphides grading 6.26% zinc, 1.22% lead, and 52.0 g/t silver
and a 26.17 m interval of vein mineralization grading 3.18% zinc and 8.4 g/t silver.
Hole NB23-011 intersected 44.83 m of stratiform massive sulphide (8.5 m estimated true
width) grading 8.30% zinc, 1.16% lead, and 42.9 g/t silver, and two other intercepts of vein
style mineralization: 7.99 m grading 4.47% zinc and 8.9 g/t silver; and 9.03 m grading
3.69% zinc, 0.31% lead, and 26.4 g/t silver.
Hole NB23-013 intersected 29.77 m (20 m estimated true width) of stratiform massive
sulphide grading 2.87% zinc , 0.28% lead and 27.7 g/t silver, as well as two intervals of
vein style mineralization: 5.35 m grading 8.31% zinc, 0.25% lead, and 31.0 g/t silver; and
5.55 m grading 7.71% zinc, 0.68% lead, and 32.9 g/t silver.
Hole NB23-015 intersected two zones of vein style mineralization: 95.87 m grading 3.21%
zinc, 1.06% lead, and 18.5 g/t silver ; and 43.98 m grading 1.99% zinc, 0.68% lead, and
13.1 g/t silver.
Hole NB23-014 intersected 12.17 m of stratiform massive sulphide grading 4.27 % zinc,
1.51% lead, and 38.3 g/t silver.
Hole NB23 -010 intersected a distal, near surface expression of the stratiform
mineralization that graded 1.79% zinc, 0.40% lead, 9.6 g/t silver over 3.09 m.
Hole NB23- 009 was abandoned at 67 m due to ground conditions and redrilled as
NB23-011.
See Tables 1, 2 and 3, Long Section M-M’, Cross Section B–B’, Cross Section J–J’, Cross Section
K–K’, Cross Section H-H’, Cross Section L–L’, Cross Section N–N’ 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:
NB23-019 intersected 57 m of massive sulphide.
NB23-022 intersected 55 m of massive sulphide.
NB23-028 intersected 140 m of feeder-proximal laminated to massive sulphides.
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NB23-029D1 intersected 21 m of stratiform massive sulphide.
NB23-032 intersected 18 m of stratiform massive sulphide.
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
replacement and vein mineralization , laminated stratiform mi neralization, 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. While
this remains a preliminary interpretation of the available geological data, continued drilling
supports this model, extending the depth of mineralization in the massive stratiform layer from
surface to at least 400 m, with the zone becoming higher grade and wider in the deeper
intersections (Long Section M-M’).
Extensive vein, breccia, and replacement mineralization at Boundary Zone occurs both above
and below the main stratiform laminated massive sulphide zone. Many wide intervals of vein,
breccia and replacement style sphalerite mineralization have been encountered in 2023 step-out
holes and four infill holes (Table 3).
2023 Drill Program Drilling Update
The 2023 program is now complete, having achieved 22,500 m of drilling mostly focused on
Boundary, Tom, and Jason zones (Map 1) . Higher than forecast drill penetration rates over the
initial portion of the season and additional financing allowed Fireweed to expand the program
from 16,000 m to >22,000 m . The expanded program included additional step-out holes at
Boundary Zone, Tom South and Jason South, in addition to five metallurgical drill holes at
Mactung.
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.
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 (“Macpass”) Project in Yukon, Canada, which is host to one of the largest
undeveloped zinc resources in the world* where 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.
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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.
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: 20F) 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 recoveries 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;
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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 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. 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 Indu ctively 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). 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. Assay values are
rounded to one decimal place other than in 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 and true widths are estimated to be approximately equal
to intersected widths and 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, 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
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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 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, 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.