Fireweed Zinc Ltd (CVE:FWZ) ) (OTCMKTS:FWEDF) released initial results from its drilling program at the Macmillan Pass property that show potential to improve the current economics on the project.
Assay results from the first five drill holes at the Tom North open pit target revealed 6.4% zinc and 0.7% lead over 9 metres in one hole and 6.2% zinc and 0.5% lead over 7.3 in another, indicating that Tom North has potential to be mined in an open pit scenario.
Another hole on the Tom North target intersected 6.1% zinc and 1% lead over a 22.5-metre interval, improving historic grades and widths.
READ: Fireweed Zinc mulling state-of-the-art technology to enhance economics at Macmillan Pass project
Vancouver-based Fireweed completed a total of nearly 2,400 metres of drilling in the 16-hole program.
Fireweed CEO Brandon Macdonald said the explorer is “pleased” with the results.
“So far Tom North is showing potential open-pit results and it is noteworthy that holes TS19-005 and TS19-006 reported much higher grades over wider intervals than the 1952 hole they twinned due to better recoveries using modern drilling techniques,” Macdonald said in a statement.
“With these positive first drill assays now in, we look forward to release of drill results from other zones tested this summer to expand on our current resources, which are already among the largest undeveloped zinc resources in the world, as well as the field program of geophysics, geochemistry and mapping still ongoing.”
Fireweed Zinc Ltd is a junior explorer building a district-scale zinc deposit in mining friendly Yukon, Canada.
The company boasts a huge land package of over 544 square kilometres at its flagship Macmillan Pass property, which is host to the Tom, Jason, Boundary Zone and End Zone zinc-lead-silver deposits.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas