VANCOUVER, British Columbia, Sept. 25, 2017 (GLOBE NEWSWIRE) -- FIREWEED ZINC LTD. (“Fireweed” or the “Company”) (TSXV:FWZ) is pleased to provide an update on its exploration work at the Macmillan Pass Zinc Project in Yukon, Canada.
Airborne Geophysics Program
A program of airborne geophysics has begun on the Macmillan Pass Project. The purpose of the geophysics program is 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 employs a state-of-the-art helicopter-borne Versatile Time-Domain Electromagnetic (VTEM) system and a high sensitivity magnetometer. Parallel lines are being flown at 100 meter spacing on a north-northeast bearing for a total of about 1,000 line kilometers.
Airborne LiDAR Program
A program of airborne LiDAR (Light Detection and Ranging) surveying has begun on the project. The purpose of the LiDAR survey is to produce a very accurate topographic map of the property for more accurate mineral resource, engineering and mapping work as well as aid in the mapping of geological features. High definition aerial photography is also being carried out during the survey to aid in geological and engineering work.
Drilling Program
The 2017 drilling program of verification, metallurgical and step out holes has been completed with a total of 2,202 meters in 14 drill holes. Results of the first five holes 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). An additional nine holes have been completed with seven from the Jason area and two from the Tom area. Drill results from these additional holes will be reported as they are received and interpreted.
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, Fireweed geologists will also be compiling and interpreting results of the mapping, geochemistry and geophysics work carried out during the 2017 field season toward identifying high priority areas for continuing exploration toward new discoveries.
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 summer the 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 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.