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Be the first with the news that moves the market- Fireweed Zinc (FWZ) is ramping up exploration work at its Macmillan Pass Zinc Project in Yukon
- The company is preparing to mount an extensive drilling program, after raising C$5.2 million in a recent private placement
- Fireweed will primarily drill at the Boundary Zone, in order to test the high-grade mineralisation intersected there in 2019
- The first core drill should arrive on site next week, with the second to arrive shortly after
- Fireweed Zinc (FWZ) is up 6.45 per cent and is currently trading at 66 cents per share
Fireweed Zinc (FWZ) is ramping up exploration work at its Macmillan Pass Zinc Project in Yukon.
This acceleration comes on the heels of a recent private placement, in which the company raised approximately C$5.2 million. Those proceeds will fund an extensive drilling program, which Fireweed is preparing to mount at the project.
The company will primarily focus its drilling at Macmillan Pass’ Boundary Zone. Last year, Fireweed intersected wide, high-grade zinc mineralisation there, which this drilling will now test.
Other targets likely to be drilled include the project’s Bog Zone, which is situated near Boundary Zone, and has previously had substantial historic drill results. Fireweed will also drill the 240 Mile Target, which hosts a large gravity anomaly potentially indicative of buried mineralisation.
Fireweed’s CEO, Brandon Macdonald, commented on the company’s accelerated plans for the Macmillan Pass project.
“Our recent financing has allowed us to mount a big exploration program this summer that will run late into the season.
“We will be using two drills to step up the exploration of the Boundary Zone, where last year we drilled very impressive intersections including 100 metres of 7.94 per cent zinc from surface, including 6.4 metres of 42.88 per cent zinc.
“Our field crews have already been hard at work exploring other targets that we may also drill test in search of new discoveries. The next couple of months promises to be a busy and exciting time for the project,” he said.
Fireweed Zinc (FWZ) is up 6.45 per cent and is trading at 66 cents per share at 1:57pm EDT.
