VANCOUVER, British Columbia, June 26, 2018 (GLOBE NEWSWIRE) -- FIREWEED ZINC LTD. (“Fireweed” or the “Company”) (TSXV:FWZ) is pleased to announce that drilling has begun on the Macmillan Pass Zinc Project in Yukon, Canada. The first two drills have now begun drilling step out holes south of the Tom West Zone targeting the projection of high-grade mineralization with the intention of expanding Mineral Resources. A third drill will start up over the next two weeks as mobilization of crews, drills and supplies into camp continues and camp facilities are expanded.
A 10,000 meter drill program carried out by three drills is planned for the 2018 season with three main goals:
- Expand known zones through step out drill holes to build tonnage beyond the already substantial Mineral Resources (see Fireweed news release dated January 10, 2018 for details); all zones remain open for expansion
- Upgrade priority zones to Measured and Indicated categories to de-risk key parts of the Mineral Resources
- Drill new exploration targets toward discovery of entirely new deposits on the large land package
Details and sections for some of these drill targets are illustrated in the current Company presentation at www.FireweedZinc.com.
Exploration for New Discoveries
Field work began on the property several weeks ago (see Fireweed news release dated June 5, 2018) with sampling and surveying orientation grids to optimize exploration methodologies. To date, approximately 2,400 geochemical samples have been collected in the immediate Tom and Jason deposit areas with plans to sample the End Zone area next. Ground geophysics, including gravity and passive seismics, has been completed over Jason and is now in progress at Tom. Mapping and prospecting have also begun. When field work on these priority deposit areas has been completed, results and methods will be interpreted and assessed, and field work will continue in search of new discoveries.
The 2018 field exploration work is driven by modern exploration concepts. The program will utilize: extensive geological mapping; prospecting; geochemical surveys including stream sediment, soil and rock sampling surveys; and ground gravity surveys. The survey accuracy of the data collected will be ensured with topographic airborne Light Detection and Ranging (LiDAR) and ground Differential GPS (DGPS) survey control methods. In total, a crew of 45 persons will be in camp to carry out the extensive work program.
Brandon Macdonald, CEO, stated, “With a healthy treasury, we are planning to both drill to expand and upgrade our mineral resource and carry out aggressive exploration toward making new discoveries. We have assembled a very large under-explored land package in a district known for producing large zinc deposits. Our field work will cover untested priority targets and greenfields exploration areas in search of new discoveries, some of which we hope will be ready to drill later this season.”
Technical information in this news release has been reviewed and approved by Brandon Macdonald, P.Geo, CEO and a ‘Qualified Person’ as defined under Canadian National Instrument 43‑101.
About Fireweed Zinc Ltd. (TSXV:FWZ): Fireweed Zinc is a public mineral exploration company focused on zinc and managed by a veteran team of mining industry professionals. The Company is advancing its large 470 km2 Macmillan Pass Project in Yukon, Canada, which is host to the 100% owned Tom and Jason zinc-lead-silver deposits with recently announced new Mineral Resources and a PEA economic study (see Fireweed news releases dated January 10, 2018 and May 23, 2018 respectively for details). The project also includes option agreements on large blocks of adjacent claims (MAC, MC, MP, Jerry, BR and NS) which cover projected extensions of mineralization from the Jason area and areas where previous exploration identified zinc, lead and silver geochemical anomalies in critical host geology.
ON BEHALF OF FIREWEED ZINC LTD.
CEO & Director
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.
This news release may contain “forward-looking” statements and information relating to the Company and the Macmillan Pass Project that are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, 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, and one-time events. Additional risks are set out in the Company’s prospectus dated May 9, 2017 and filed under the Company’s profile on SEDAR at www.sedar.com. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
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