Fireweed Zinc Ltd (TSX-V:FWZ) has said it is set to start its largest drill program on its flagship Macmillan Pass property in Yukon in the coming weeks.
The 8,000 metre program will include step-out and infill drilling at the Boundary and Boundary West zones, and drilling at the Tom and Jason targets.
"We are very excited to start our 2022 season. It will be the largest and most ambitious program ever carried out by Fireweed at the Macmillan Pass project,” Gilles Dessureau, vice president of exploration at Fireweed, said in a statement. “We are also excited to use innovative new technologies such as muon tomography and hyperspectral imaging to guide exploration.”
READ: Fireweed Zinc to acquire world-class tungsten project in northern Canada
Field crews have been mobilized to the property, and improvements are being made to the camp to support the four-rig program.
Diamond drilling, core scanning, and a muon tomography survey will begin in the coming weeks after the access road opens, Fireweed told shareholders.
“The main objectives of the 2022 field program will be to define and expand the known mineralized zones toward an updated mineral resource study this winter followed by an updated preliminary economic study,” Dessureau said.
Fireweed owns 100% of the district-scale 940-square kilometre Macmillan Pass project, which is host to the Tom and Jason zinc-lead-silver deposits with current mineral resources and a Preliminary Economic Assessment (PEA) economic study, as well as the Boundary Zone, Boundary Zone West, Tom North Zone and End Zone, which have significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources.
New PEA coming
By the end of the 2022 campaign, Fireweed said it will have four seasons worth of new drill data that will be used to inform a new global mineral resource, including an inaugural resource for the Boundary Main, Boundary West, End Zone and Tom North zones, and an updated resource for Tom West, Tom East, Tom Southeast, Jason Main and Jason South zones.
The company will use the new resource to put out a new PEA for the project.
Field crews will also be conducting due diligence and validation work at the adjacent Mactung tungsten project in the coming months in preparation for the planned Mineral Resource update and PEA economic study.
Fireweed recently inked a binding letter of intent to acquire 100% interest in the tungsten property, which is located adjacent to Macmillan Pass. Mactung contains historic resources that make it one of the largest and highest-grade undeveloped tungsten resources in the world.
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