Company
CVE:FWZ
Fireweed Metals Corp is a Canadian mining exploration and development company focused on developing critical metals mines. Currently, Fireweed is advancing the Macmillan Pass Project which is host to the Tom, Jason, Boundary Zone & End Zone zinc-lead-silver deposits. Located in the Yukon Territory, Canada, the property is accessible via gravel road and by air via the Macmillan Pass Airstrip located on the property. Management’s vision is to create value for our shareholders by building Fireweed into a leading critical metals mine development company through the advancement and development of multiple projects including the Macmillan Pass Project. The company has an exceptional veteran management team with a strong track record of successful exploration, development, financing and operation.
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The company said drilling is expected to begin in the coming weeks and will focus on expanding and better defining both the Boundary Zone and the newly-discovered Boundary West Zone
Proceeds will be used for general working capital purposes, cash reserves for future development, and exploration and development of Macmillan Pass
The work includes assessing samples, which have been sorted via traditional methods and also modern sensor-based sorting
The aim was to assess the potential of RC drilling as a lower-cost alternative to diamond drilling for upgrading resources at shallow depths
The company said proceeds from the offering will be used for exploration and development of its Macmillan Pass Project in Yukon
These last assays hail from Boundary Zone West, which were discovered last year, and sit 15 road kilometres west of the Tom-Jason deposits
The hole was a 360m step-out hole, 15 road kilometres west of the group's Tom-Jason deposits at its huge project
Drill results from the Boundary Zone included 4.42% zinc, 0.08% lead, and 10.7 grams per tonne silver over 212.70 metres
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
The company boasts a huge land package of over 544 square kilometres at its flagship Macmillan Pass property
The discovery of zinc mineralization in the lower sequence rocks, in addition to the surrounding wide intervals of vein mineralization, greatly expand the search area with strong discovery potential
The mineral exploration company said the additional acres have large areas of zinc, lead and silver targets
Ten diamond drill holes for 2,948m and nine reverse circulation holes for 507m were sunk this year
Archive
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
This new target was found via drilling and lies 360 metres west of previous drilling at the Boundary zone
Scott is a professional geologist with over eighteen years’ experience in mineral exploration and development, having worked with leading mining companies, junior exploration companies, and provincial and federal government surveys
The project is host to the Tom, Jason, Boundary Zone and End Zone zinc-lead-silver deposits
The firm issued over 3.2 million of its shares at C$0.63 each with a half two-year warrant exercisable at C$0.95 per share
The mineral exploration company said most of the drilling will be at the Boundary Zone, further testing the wide and high-grade mineralization intersected in 2019
The offering will consist of up to 3,174,603 common shares ay C$0.63 each with a half two-year warrant exercisable at C$0.95 per share.
