VANCOUVER, British Columbia, Sept. 20, 2018 (GLOBE NEWSWIRE) -- FIREWEED ZINC LTD. (“Fireweed” or the “Company”)
(TSXV: FWZ) is pleased to announce the first drill results from its 2018 drill program on the Macmillan Pass Project in Yukon,
Canada.
Highlights
- Hole TS18-004 intersected 21.1% Zinc, 13.5% Lead and 243 g/t Silver over 16.41 meters (true width interpretations range from
approximately 5 m to 12 m depending on structural interpretations*)
- This hole was drilled below the Tom East Zone to test the downdip extension of the resource. The zone remains open for
further expansion.
- Additional drilling has been completed and assays are pending from the Tom, Jason and End Zone areas
Drill hole TS18-004 intersected the Tom East zone approximately 50m down dip from the nearest known mineralized
intersection. The drill hole intersected massive and laminated sulphide similar to feeder proximal mineralization encountered
elsewhere in the Tom East and Tom West Zones. Sulphide minerals include sphalerite, galena, pyrite, and pyrrhotite and are hosted
within diamictite and carbonaceous mudstones of the Macmillan Pass member of the Portrait Lake Formation (Earn Group).
The structural complexities encountered in hole TS18-004 suggest that potential extensions to the Tom East zone
may be folded, presenting an opportunity to drill-test areas of structural thickening or higher grades in hinge-zones of folds. Tom
East remains open at depth and there is further upside potential in resolving the geometry of the fold hinge zone.
Results from these first drill assays received are as follows:
TOM EAST ZONE DRILL RESULTS |
Hole No. |
From |
To |
Interval |
Estimated True Width |
Zinc |
Lead |
Silver |
|
(meters) |
(meters) |
(meters) |
(meters)* |
(%) |
(%) |
(g/t) |
TS18-004 |
312.15 |
328.56 |
16.41 |
5.0-12.3 |
21.14 |
13.55 |
242.8 |
Including: |
319.00 |
327.70 |
8.70 |
2.6-6.5 |
23.88 |
19.42 |
332.9 |
Including: |
319.00 |
322.00 |
3.00 |
1.0-2.3 |
35.66 |
18.49 |
312.7 |
Including: |
326.15 |
327.70 |
1.55 |
0.5-1.2 |
15.67 |
35.65 |
542.1 |
*Structural complexity in the area makes true width estimates difficult without further drilling. The estimates
in the table are based on core angles and known mineralization orientation respectively range from 5-12 m depending on structural
interpretations.
Assay results from additional drill holes are still pending as assays results have been slow in arriving due to
generally large volumes of samples in the laboratories. As these first assays are received, the drill program at Macmillan Pass has
now finished and field crews are now finishing up, winterizing the camp, and demobilizing for the season before winter conditions
set it. The total meters drilled during the 2018 program were less than initially planned as management took a prudent
budget-conscious approach to preserve cash given current market conditions and focused additional time on cost effective methods
for targeting new discoveries on the large property including the field work described below. Maps, sections and a table of drill
holes completed this year with notes on targets tested are attached to this news release and posted on www.FireweedZinc.com.
2018 Drilling Summary
During the 2018 season, a total of 5,497 meters of drilling was completed in 20 holes. This drilling comprised 2,965 meters in 11
(mainly step out) holes at Tom West, 748 meters in two holes (step out and infill) at Tom East, 678 meters in one step out hole at
Jason South, 429 meters in four step out and confirmation holes at End Zone and 677 meters in two holes on new targets.
2018 Field Work Summary
Field work began in early June (see Fireweed news release dated June 5, 2018) with geophysical surveying and geochemical sampling
orientation grids in the Tom, Jason and End Zone areas to optimize exploration methodologies. This test work demonstrated that
buried mineralization can be detected using a combination of conventional and new exploration technologies, guided by geological
mapping and modern exploration concepts. The technologies determined to best detect zinc-lead-silver mineralization in the district
are: geophysical surveying comprising ground gravity with passive seismics; and geochemical B/C horizon and soil gas hydrocarbon
(SGH) soil sampling. Large gravity and soil sampling grids were completed and geological mapping was carried out in key areas. In
total, 221.9 line kilometers of gravity surveying have been completed, covering approximately 45.5 km2, and 2,901
geochemical B/C horizon and 2,489 SGH soil samples have been submitted for analyses.
Results received to date from the gravity, geochemistry and geological work are identifying new high priority
drill targets with potential for new discoveries.
CEO Statement
Brandon Macdonald, CEO, stated, “We are very pleased with the exceptional results from this first drill hole demonstrating again
the propensity for these mineralizing systems to produce high grades. The results from TS18-004 show that Tom East is not only open
for expansion but can be grown while producing grades well above the zone average. With these first drill assays now in, we look
forward to continuing releases of drill results from the multiple zones tested this summer as well as results from the large
program of geophysics, geochemistry and mapping carried out on the property.”
Notes on sampling and assaying:
The drill core logging and sampling program is carried out under a rigorous quality assurance / quality control
program using industry best practices. 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
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. The core is cut in half lengthwise with a rock saw 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. Intersections selected for metallurgical testing are cut in half with a rock saw and then quartered; one
quartered core is archived on site, one quartered core is sent for assay, and the half-core is sent for metallurgical testing. 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). All samples are also
analyzed by lithium borate fusion and X-ray fluorescence analysis (XRF) finish (BV Code LF725). Over-limit Pb (>25.0%) and Zn
(>24.0%) were analyzed by lithium borate fusion with XRF finish (BV Code LF726). Silver is reported in this news release by
method AQ270, and zinc and lead are reported by LF725 or LF726. Bureau Veritas (Vancouver) is an independent, international ISO/IEC
17025:2005 accredited laboratory.
Technical information in this news release has been approved by Gilles Dessureau, P.Geo, Vice President Exploration 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 and reports filed on www.sedar.com 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.
Additional information about Fireweed Zinc and its Macmillan Pass Project, can be found on the Company’s website
at www.FireweedZinc.com and 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 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.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/cbe489e2-8d75-4b6b-8a67-40d6621aef9c
http://www.globenewswire.com/NewsRoom/AttachmentNg/59a9be19-ece3-4ce4-ad18-a1bc0543c362
http://www.globenewswire.com/NewsRoom/AttachmentNg/1091dd27-c20d-45d4-ad06-6928e5a1f2be
Appendix to Fireweed Zinc news release dated September 2018. |
|
|
Macmillan Pass 2018 Drilling Summary |
|
|
|
Hole
No. |
Zone |
Drill Target |
Results |
|
TS18-001 |
Tom West |
Step out hole at south end of Tom West Zone |
No zone intersected. Intersected fault where zone was projected*. |
|
TS18-002 |
Tom West |
Step out hole at south end of Tom West Zone |
Zone intersected. Samples submitted to laboratory. Assays pending. |
|
TS18-003 |
Tom West |
Step out hole at south end of Tom West Zone |
Short zone intersection truncated by fault*. Assays pending. |
|
TS18-004 |
Tom East |
Step out hole below Tom East Zone |
Assays reported in this news release above |
|
TS18-005 |
Tom West |
Tom West infill to test zone of historic poor recovery. |
Zone intersected. Samples submitted to laboratory. Assays pending. |
|
TS18-006 |
Tom West |
Step out hole at south end of Tom West Zone |
No zone intersected. Intersected fault where zone was projected*. |
|
TS18-007 |
Tom West |
Infill hole at north end of Tom West Zone. |
Zone intersected. Samples submitted to laboratory. Assays pending. |
|
TS18-008 |
Tom West |
Tom West infill to test zone of historic poor recovery. |
Zone intersected. Samples submitted to laboratory. Assays pending. |
|
TS18-009 |
Tom West |
Step out hole at north end of Tom West Zone. |
Zone intersected. Samples submitted to laboratory. Assays pending. |
|
TS18-010 |
Tom East |
Infill hole in Tom East Zone |
Zone intersected. Samples submitted to laboratory. Assays pending. |
|
TS18-011 |
Tom West |
Infill hole at north end of Tom West Zone. |
Zone intersected. Samples submitted to laboratory. Assays pending. |
|
TS18-012 |
Tom West |
Tom West infill to test zone of historic poor recovery. |
Zone intersected. Samples submitted to laboratory. Assays pending. |
|
TS18-013 |
Tom area exploration target |
Test of exploration target east of Tom West Zone |
No significant intersection |
|
TS18-014 |
Tom West |
Infill hole at south end of Tom West Zone |
Zone intersected. Samples submitted to laboratory. Assays pending. |
|
JS18-001 |
Jason South |
Step out hole up-dip of Jason South |
No zone intersected. Drill hole passed between two projected zones in a fault |
|
EZ18-001 |
End Zone |
Infill hole to confirm historic drill results. |
Zone intersected. Samples submitted to laboratory. Assays pending. |
|
EZ18-002 |
End Zone |
Step out hole to extend End Zone. |
Zone intersected. Samples submitted to laboratory. Assays pending. |
|
EZ18-003 |
End Zone |
Step out hole to extend End Zone. |
Zone intersected. Samples submitted to laboratory. Assays pending. |
|
EZ18-004 |
End Zone |
Step out hole to extend End Zone. |
Zone intersected. Samples submitted to laboratory. Assays pending. |
|
EZ18-005 |
End Zone area exploration target |
Test of exploration target 200m west of End Zone |
No significant intersection |
|
Notes: |
|
|
|
|
* |
A historic
1990 drill hole intersected a wide section of the Tom West Zone (14.1% Zn across 14.6m) on the other side of this fault at
depth |
|
|
(see www.FireweedZinc.com, Presentation, Slide
17). |
|
|
|
These
2018 drillholes will allow precise location of this fault in planning future drilling of the Tom West Zone on the other side of
this fault. |
|
Contact:
Brandon Macdonald
T: +1.604.646.8361