VANCOUVER, British Columbia, Nov. 29, 2018 (GLOBE NEWSWIRE) — FIREWEED ZINC LTD. (“Fireweed” or the “Company”) (TSXV: FWZ) is pleased to announce the final results from its 2018 drill program on the Macmillan Pass Project in Yukon, Canada, with high grade holes drilled at End Zone.
Highlights
- Hole EZ18-002 intersected 4.78% Zinc, 10.17% Lead, and 87 g/t Silver over 11.08 metres (true width) in a hole drilled in the middle of the End Zone.
- Hole EZ18-004 intersected 1.98% Zinc, 11.24% Lead, and 78 g/t Silver over 6.83 metres (true width) on the western extension of the End Zone.
| New drill results are as follows: | |||||||
| END ZONE DRILL RESULTS | |||||||
| Hole No. | From (metres) | To (metres) | Interval (metres) | Estimated True Width (metres) | Zinc (%) | Lead (%) | Silver (g/t) |
| EZ18-002 | 49.07 | 64.74 | 15.67 | 11.08 | 4.78 | 10.17 | 87 |
| including | 52.23 | 62.77 | 10.54 | 7.58 | 5.47 | 12.53 | 107 |
| including | 56.10 | 62.77 | 6.67 | 4.88 | 4.40 | 14.98 | 123 |
| EZ18-003 | 160.00 | 166.12 | 6.12 | 3.06 | 0.18 | 1.56 | 17 |
| EZ18-004 | 45.00 | 53.92 | 8.92 | 6.83 | 1.98 | 11.24 | 78 |
| including | 45.84 | 49.80 | 3.96 | 3.03 | 4.19 | 15.61 | 115 |
| EZ18-005 | No significant intersection on exploration target west of End Zone | ||||||
CEO Statement
Brandon Macdonald, CEO, stated “End Zone was not included in the property mineral resources or the PEA that we published earlier this year because of the limited historical data. We are very pleased with the high grade intersections we drilled at End Zone in 2018 which returned better results than indicated in historical data. End Zone exploration is earlier stage than Tom or Jason but with its near surface high-grade mineralization and exploration upside it has real potential to positively impact project economics. We look forward to the 2019 field season where we can continue to delineate the extent of the known zones as well as conduct exploration for additional discoveries along the entire ‘fertile corridor’ which remains highly prospective for the discovery of additional zinc mineralization including newly acquired ground extending west to the Boundary Zinc Zone and beyond.”
Drill hole EZ18-002 was drilled in the middle of the End Zone, approximately 50m east along strike from high grade drill hole EZ18-001 which graded 4.56% zinc 17.34% lead and 145g/t silver across 8.6m true width (see Fireweed news release dated November 15, 2018 for details). EZ18-002 intersected massive, high grade, feeder proximal mineralization similar in nature to the mineralization intersected in EZ18-001 and similar to the high grade feeder proximal mineralization intersected at the Tom East and Tom West zones drilled this year (see recent Fireweed news releases for details). Mineralization at the End Zone consists of massive galena, sphalerite, pyrite and pyrrhotite, and is located within the “Fertile Corridor”, a geological trend of favourable host rocks which also host the large nearby Tom and Jason deposits as well as the Boundary Zinc Zone to the west (see map attached to this news release).
Drill Hole EZ18-003 was drilled from the same pad as EZ18-002 and intersected strong feeder proximal alteration with disseminated galena and sphalerite downdip from hole EZ18-002.
Drill hole EZ18-004 was drilled 50m west along strike from hole EZ18-001 and intersected massive, high grade, feeder proximal mineralization similar in nature to the mineralization intersected in EZ18-001 and EZ18-002.
Drill hole EZ18-005 was a large step-out hole on an exploration target (approximately 190m from hole EZ18-004) and did not intersect the mineralized horizon. The lithology and interpreted stratigraphy intersected in this hole indicates it drilled into a fault at the location where mineralization was projected.
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 in this release 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 metres or less in length. Drill core selected for metallurgical testing is cut in half: half-core is sent for metallurgical testing, one quarter-core is sent for assay, and one quarter-core is stored on site for 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). 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 544 km2 Macmillan Pass Project in Yukon, Canada, which is host to the 100% owned Tom and Jason zinc-lead-silver deposits with recently announced 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) as well as the Boundary Zone and End Zone which have significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources. The project also includes option agreements on large blocks of adjacent claims (MAC, MC, MP, Jerry, BR and NS) which cover exploration targets in the district where previous work 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.
Contact:
Brandon Macdonald
T. 604.646.8361
