VANCOUVER, British Columbia, Oct. 10, 2017 (GLOBE NEWSWIRE) -- FIREWEED ZINC LTD. (“Fireweed” or the “Company”)
(TSXV:FWZ) is pleased to announce additional drill results from its 2017 verification and step out drill program on the Macmillan
Pass Project in Yukon, Canada. These results are the first drill holes from the Jason Main Zone which is a wide zone of
zinc-dominant mineralization. Additional drilling has been completed and results are pending from both the Tom and Jason areas.
Results from the first four drill holes on the Jason Main Zone are as follows:
JASON MAIN ZONE DRILL
RESULTS1 |
Hole No. |
From |
To |
Interval |
Estimated True Width2 |
Zinc |
Lead |
Silver |
|
(meters) |
(meters) |
(meters) |
(meters) |
(%) |
(%) |
(g/t) |
JS17-01 |
172.30 |
183.26 |
10.96 |
7.0 |
12.16 |
3.13 |
1.6 |
JS17-02 |
155.18 |
172.76 |
17.58 |
10.5 |
7.82 |
1.39 |
1.3 |
Including: |
165.00 |
172.76 |
7.76 |
4.6 |
11.19 |
1.94 |
1.2 |
JS17-03 |
Drill hole abandoned
before reaching main zone3 |
JS17-04 |
154.19 |
179.00 |
24.81 |
11.2 |
9.07 |
1.60 |
0.7 |
Including: |
170.70 |
179.00 |
8.30 |
3.7 |
14.03 |
1.29 |
1.1 |
Notes to table:
- Maps of the drill hole locations are attached to this news release or available on the Fireweed website at www.FireweedZinc.com.
- True Width is estimated from the company's current understanding of the orientation of the mineralized body in the area of
the drill intersection and will be refined when the final geological model for the planned mineral resource report is
completed.
- Drill hole JS17-03 was abandoned before reaching the main zone due to drilling and survey problems.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/8518762b-e986-4532-86c1-1c70037ba81c
http://www.globenewswire.com/NewsRoom/AttachmentNg/7d3d5e21-b9c5-4820-bca0-9da10092001a
These first holes at Jason Main were infill holes and verified results of nearby historic drill holes which will
allow them to be used in the modelling of a new updated NI43-101 mineral resource. Previously reported verification holes at the
nearby Tom West Zone reported wide, high-grade zinc-lead-silver intersections including 10.20% Zinc, 6.28% Lead and 87.7 g/t Silver
over 24.4 meters true width (see Fireweed news release dated September 12, 2017 for details). Additional verification,
step-out and metallurgical holes have been completed in the Tom and Jason areas and will be reported as they are received and
interpreted.
Completion of Airborne Surveys and Fieldwork
The Phase One exploration program at the Macmillan Pass Project has now been completed. In addition to the
drilling, airborne surveys and fieldwork were carried out on the property.
The airborne geophysics survey has been completed and the data is now being compiled and interpreted. The
purpose of the airborne geophysics program was to rapidly cover the entire area of the Tom and Jason claims as well as the southern
portion of the adjacent MAC claims with the objectives of helping to map critical subsurface geology and identify drill targets for
new discoveries and extensions of known mineralization. The geophysics work employed a state-of-the-art helicopter-borne Versatile
Time-Domain Electromagnetic (VTEM) system and a high sensitivity magnetometer. Parallel lines were flown at 100 meter spacing
on a north-northeast bearing for a total of about 1,000 line kilometers.
A program of airborne LiDAR (Light Detection and Ranging) surveying was carried out and completed surveying the
Jason half of the property before it was suspended due to weather. The LiDAR work will be completed when conditions allow. The
purpose of the LiDAR survey is to produce a very accurate topographic map of the property for engineering and mapping work as well
as aid in the mapping of geological features. High definition aerial photography is also carried out during the survey to aid in
geological and engineering work.
Exploration field work was carried out including surface geological mapping and geochemical sampling in the
search for new discoveries in the Tom and Jason deposit areas. Assays are pending and the mapping has resulted in a better
understanding of the geology which will be used in planning of future exploration programs.
Future Plans – NI43-101 Mineral Resource and PEA
With the completion of the drilling and re-sampling of historic core completed, work on an updated NI43‑101 compliant mineral
resource report for the Tom and Jason zones will integrate new assays from the 2017 work as they are received. Completion of the
report is expected by year end. After publication of the updated mineral resource report, Fireweed plans to undertake a NI43-101
compliant Preliminary Economic Assessment to evaluate future mine planning, metallurgy and project economics. During the coming
months compilation and interpretation of the results of the drilling, mapping, geochemistry and geophysics work from the 2017 field
season will be carried out toward identifying high priority areas for exploration toward new discoveries.
Notes on sampling and assaying:
Drill intersections are all HQ3 (split tube) size core (61.1mm / 2.4-inch diameter) with recoveries typically above 85%. After
drilling, the core is logged for geology, structure and geotechnical characteristics, marked up for sampling, and photographed on
site. The cores for analyses are marked for sampling based on geological intervals with individual samples 1.5 meters or less in
length. They are cut in half lengthwise with a rock saw or core splitter at the core facility on site, with half-core samples
bagged and sent by reliable transport to the laboratory, and the other half-cores are stored on site for future reference. A total
of 5% assay standards and 5% blanks are inserted into every sample shipment as a quality control measure and, after analyses were
received, were found to be acceptable. Samples are sent to the Bureau Veritas (formerly Acme Labs) preparation laboratory in
Whitehorse, Yukon where the samples are crushed and pulverized to 85% passing 200 mesh size pulps. A 250-gram split of each pulp is
then sent to the Bureau Veritas laboratory in Vancouver, B.C. and analyzed by 1:1:1 Aqua Regia digestion followed by Inductively
Coupled Plasma Mass Spectrometry (ICP-ESI/ICP-MS) multi-element analyses (BV Code AQ270). Over-limit Pb (>4%) and Zn (>20%)
samples are analyzed by 4 Acid Digestion followed by “ore grade” Atomic Absorption Spectroscopy (BV Code MA404) and double
over-limit Pb (>20%) is analyzed by Pb Titration (BV Code GC817). Bureau Veritas (Vancouver) is an independent, international
ISO/IEC 17025:2005 credited laboratory.
The technical information in this news release has been reviewed and approved by Brandon Macdonald, P.Geo, a
‘Qualified Person’ as defined under Canadian National Instrument 43‑101.
About Fireweed Zinc Ltd.: Fireweed Zinc is a new public mineral exploration company focused on
zinc and managed by a veteran team of mining industry professionals. This Company is advancing its Macmillan Pass Project where it
has an option to acquire 100% of the Tom-Jason property in Yukon, Canada which is host to the large, advanced Tom and Jason
zinc-lead-silver deposits, and an option on the adjacent large MAC claims which cover projected extensions of mineralization from
the Jason area and where previous exploration identified zinc, lead and silver geochemical anomalies in critical host geology.
Additional information about Fireweed Zinc and its Macmillan Pass Project, can be found on the Company’s website
at www.FireweedZinc.com and on SEDAR at www.sedar.com .
ON BEHALF OF FIREWEED ZINC LTD.
“Brandon Macdonald”
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.
Forward-Looking Statements
This news release contains “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 supervision, 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.
Brandon Macdonald
604-646-8360