Fireweed Zinc Ltd (CVE:FWZ) (OTCMKTS:FWEDF) reported first results as part of its 2020 drill program on the Boundary Zone at the Macmillan Pass Project in the Yukon, which included 4.42% zinc, 0.08% lead, and 10.7 grams per tonne (g/t) silver over 212.70 metres (m).
The company said “significant assays” over wide sections have been received from the first two holes drilled in the central Boundary Zone area.
“These first assays have been a long time coming due to slow turn around at the lab while they operate under COVID-19 limitations. The assays reported here are from the first two holes drilled in the central Boundary Zone area in 2020,” Fireweed Zinc CEO Brandon Macdonald said in a statement.
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He added: “We are pleased to see more good grades extending this wide zone of mineralization with very high-grade sections to depth in the central Boundary Zone area.”
“Overall a belated but great start to the 2020 drill assays.”
Fireweed Zinc said infill and step-out drilling at the Boundary Zone, located 15 road kilometres west of the Tom-Jason deposits, has successfully encountered wide zones of zinc-lead mineralization, significantly expanding the extent of the known mineralization within the Central Boundary Zone, which now extends from surface down to 300 m while remaining open at depth.
The company noted that the 2020 drill program was completed in October, but that these are the first assays to be announced due to slow turn around at the lab operating under COVID-19 limitations.
It added that assays from other holes, including the new discovery at Boundary Zone West, are pending.
Fireweed Zinc’s flagship Macmillan Pass property contains 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 (ZnEq) and 6.59% zinc, 2.48% lead, 21.33 grams per tonne (g/t) silver, and there is potential to expand this further.
The Boundary zone, Tom North zone and End zone, meanwhile, have significant zinc-lead-silver mineralization drilled but are not yet classified as mineral resources.
Contact Sean at sean@proactiveinvestors.com