Fireweed Zinc Ltd (CVE:FWZ) revealed that 'significant' near-surface zinc-lead mineralization has been found west of the Boundary zone at its giant Macmillan Pass project in Yukon.
This new target was found via drilling and lies 360 metres (m) west of previous drilling at the Boundary zone.
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"We are very pleased to see early indications that Boundary Zone-style mineralization could be far more extensive than originally thought," said Brandon Macdonald, the chief executive at Fireweed.
"Whether this new zone discovered is an extension of Boundary Zone, a fault offset, or a new zone, we don’t know yet.
"Further drilling will tell. Being able to move so quickly from a gravity survey to drilling the resulting anomaly really highlights the agility and ability of our technical team. With mineralization demonstrated west of Boundary, we now eagerly await assay results."
Drilling continues with three rigs at the Boundary Zone, Boundary West, and Tom areas at the project and 1,500m of core drilling and 300m of reverse circulation (RC) drilling have been completed so far in 12 holes. The firm is awaiting assays for all holes.
Fireweed said it also plans to drill the 240 Mile Target later this season, marked by a large gravity anomaly that may indicate buried mineralization between the Tom and Jason deposits.
Three infill holes at Tom West have also been successfully drilled, demonstrating the potential to use RC drilling as a low-cost alternative to diamond drilling for upgrading resource categories at shallow depths, the firm said.
Further infill and twin holes are planned at the Jason Main deposit, it added.
The Macmillan Pass asset is host to the Tom, Jason, Boundary Zone and End Zone zinc-lead-silver deposits. Tom and Jason already boast a combined resource of 11.21 million tonnes (Mt) of indicated resources at 9.61% zinc equivalent.
Fireweed believes that the Boundary Zone could potentially be a large 'feeder' system to nearby mineralization similar to the Tom and Jason deposits.
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