Shares in Fireweed Zinc Ltd (CVE:FWZ) nudged higher in Toronto as it posted further encouraging drill results from its Macmillan Pass project in Yukon, Canada.
One hole hit 8.11% zinc, 6.31% lead and 82 g/t (grams per ton) silver over 10.16 meters in an infill hole in the Tom East Zone confirming previous drill grades.
READ: Fireweed Zinc shares shoot up following "exceptional' first drill assays from Macmillan Pass
Another hole hit 9.18% zinc, 3.73% lead and 12 g/t (grams per ton) silver over 13.47 meters (true width) in a hole drilled on the northern end of the Tom West Zone which showed that poor core recoveries in historical drilling in this area under-reported grades.
"We are encouraged that drilling at the edges of the Tom West Zone is reporting higher grades than historic holes due to better recoveries using modern drilling techniques and that new structural interpretations based on these drill results indicate potential for expanding the zone," Brandon Macdonald, Fireweed chief executive, told investors.
"Meanwhile drilling at Tom East continues to return consistent very high grades over significant widths.
WATCH: Fireweed Zinc provides update on Macmillan Pass project's Tom West Zone
"We look forward to further drill results from the summer program as well as interpreted results from the large program of geophysics, geochemistry and mapping carried out on the property."
The company added that further drilling has been completed and assays are pending from the Tom West and End Zone areas.
Shares in Fireweed Zinc Ltd added 2.50% in Toronto to stand at $0.82.