Subscribe
Be the first with the news that moves the market- Fireweed Zinc (FWZ) has discovered significant near-surface zinc-lead mineralisation at a new gravity target on its Macmillan Pass project
- The unexpected discovery includes wide zones of mineralisation, located west of the project’s Boundary Zone
- Fireweed has also encountered mineralisation which indicates that the Boundary Zone may be more extensive than expected
- The company intends to continue drilling at the project’s Boundary Zone, Boundary West, and Tom deposits
- Fireweed Zinc (FWZ) is up 17.65 per cent and is currently trading at C$1.00 per share
Fireweed Zinc (FWZ) has discovered significant near-surface zinc-lead mineralisation at a new gravity target on its Macmillan Pass project.
The mineral exploration company only commenced drilling at the zinc-lead-silver project in Yukon earlier this month. Thus far, only six core holes have been drilled at the project’s Boundary Zone and surrounding area, with six RC holes drilled at the Tom deposit.
In spite of this, the project is already yielding encouraging and exciting results, including this latest unexpected discovery. Fireweed has discovered wide zones of pyrite-sphalerite-galena mineralisation, located 360 metres west of prior drilling at the Boundary Zone.
The company has also encountered wide mineralisation zones on infill and step-out holes at Boundary Zone. This indicates that the project’s Boundary Zone may extend far beyond what estimates originally predicted.
Fireweed intends to continue drilling these areas, in order to ascertain the full potential of both new and established targets. In addition, the company is planning to begin drilling at the 240 Mile Target later this season.
Fireweed Zinc’s CEO, Brandon Macdonald, said the company was pleased to see indications that Boundary Zone-style mineralisation could be more extensive than expected.
“Whether this new zone discovered is an extension of Boundary Zone, a fault offset, or a new zone, we don’t know yet. Further drilling will tell.
“Being able to move so quickly from a gravity survey to drilling the resulting anomaly really highlights the agility and ability of our technical team.
“With mineralisation demonstrated west of Boundary, we now eagerly await assay results,” he said.
Fireweed Zinc (FWZ) is up 17.65 per cent, and trading for C$1.00 per share at 11:45am EDT.
