Fireweed Metals Corp (TSX-V:FWZ, OTCQB:FWEDF), formerly known as Fireweed Zinc Ltd, identified new targets based on results from the company’s 2022 initial exploration program at its Gayna River project, in the Northwest Territories of Canada.
In a statement, Fireweed CEO Brandon Macdonald said: “The results from this year’s exploration program at Gayna River demonstrate that there is potential for high-grade massive sulphides here, consistent with our approach in exploring for Kipushi-style high-grade targets around the margins of these ancient carbonate reefs.”
“The soil sampling confirmed the presence of a large lead anomaly at the Jaws target that could represent the top of a shallowly buried reef. This soil anomaly is large and intense — the Jaws target has a central area of 4 km by 1 km with soils over 100 parts per million (ppm) lead and peak values over 27% lead.”
READ: Fireweed Metals discovers more zinc mineralization at its Macmillan Pass project in the Yukon
Macdonald noted that the coincident geological, geochemical, and geophysical anomalies at both the Jaws target and the ABC showings are “very favourable in terms of the potential for high-grade zinc-lead-silver mineralization in the near-surface.”
“With these excellent initial results, we are very excited to advance these targets further,” Macdonald added.
Fireweed highlighted the following:
- High-grade rock samples confirmed the presence of massive sulphide mineralization that also contains elevated gallium and germanium (all 8 grab samples graded better than 7% zinc, including one at 51% zinc; one of these samples also graded 74% lead).
- Soil samples confirmed the presence of a strong, 4 km by 1 km, historical zinc and lead soil anomaly (all 10 samples returned over 4,000 ppm lead including one sample containing 27.5% lead and 176 grams per ton (g/t) silver).
- Results from a 52.7 line-km ground gravity survey have highlighted multiple potential drill targets.
- Completion of a LiDAR topographic survey over the entire 128.75 km2 (455 line-km) property has generated accurate location data for future drilling and other exploration work.
The company said rock sampling formed part of a geological field campaign to ground truth the geology and recorded mineral occurrences and showings on the property. Samples confirmed the presence of high-grade zinc and lead sulphide mineralization at the surface, as well elevated concentrations of the critical minerals gallium and germanium. Eight grab samples were analysed in total, including dolostones, dolostone breccias, limestones, and veins. The highest zinc grade was 51.2% in a sample that also contained 42 ppm gallium and 39 ppm germanium.
Investors can find detailed rock sample results here.
Jaws anomaly
Fireweed acquired the Gayna River project by staking in the second quarter of 2022 at a very low cost. It is leveraging a new idea about how zinc-lead mineralization formed at Gayna River, revitalizing exploration in this historic district.
The Jaws anomaly comprises a very strong lead- and zinc-in-soil anomaly that spans an area of over 4 km in length and 1 km in width. Fireweed’s 2022 soil sampling program ground-truthed the Jaws soil anomaly.
The soil anomaly is centered around an area of subtly lower gravity flanked by gravity highs consistent with an exploration target comprising a lower-density limestone reef with denser zinc mineralization and dolostone around the reef margins, said the company.
Fireweed was awarded a $132,000 Mining Incentive Program (MIP) grant from the Northwest Territories government for its exploration program.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive