- Fireweed (FWZ) identifies new targets at Gayna River following the completion of the first exploration program
- High-grade rock samples confirmed the presence of massive sulphide mineralization
- Soil samples confirmed the presence of a strong, 4 km x 1 km, historical zinc and lead soil anomaly
- LiDAR topographic surveys have generated accurate location data for future drilling and other exploration work
- Fireweed Metals (FWZ) is trading at C$0.40 at 12:32 pm EST
Fireweed Metals (FWZ) announced the results from the 2022 initial exploration program at the Gayna River project, Northwest Territories.
Brandon Macdonald, CEO of the company, mentioned, “The results from this year’s exploration program at Gayna River [show] 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.”
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.
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.
In all three survey areas, gravity highs align with areas Fireweed has identified as having high potential for buried reef margins.
Due to rheological and permeability contrasts, these margins may have served as conduits for mineralizing fluids and therefore have more significant potential for hosting sulphide mineralization.
“The coincident geological, geochemical, and geophysical anomalies at both the Jaws target and the ABC showings are very favourable regarding the potential for high-grade zinc-lead-silver mineralization in the near-surface,” added Macdonald.
According to the company, ground gravity has been a successful tool in Fireweed’s exploration of the Boundary Zone area.
There, gravity anomalies have provided targets for discoveries and step-out drill holes intersecting multiple styles and thicknesses of sulphide mineralization within 100-200 metres of the surface.
A LiDAR survey was flown over the entire 128.75 km2 property to generate a high-resolution topographic surface.
The primary reason for this 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.
In other news, Fireweed was awarded a Mining Incentive Program (MIP) grant from the Government of the Northwest Territories to assist the exploration program.
Fireweed Metals is a public mineral exploration company on the leading edge of Critical Minerals project development.
Fireweed Metals (FWZ) is trading at C$0.40 at 12:32 pm EST.
