CEO Statement
Results from
Following up on drilling from 2022 and the compelling initial results of the 2023 program to date, Fireweed continues to test the extents of the high-grade feeder zone target. This zone is interpreted to occur as at least one tabular layer within a broader sediment hosted massive sulphide system. Drilling also continues to define the more distal expressions of this stratiform system near surface, as well as delineating the extensive replacement, vein, and breccia styles of mineralization. The results from 2023 continue to return high-grade zinc values that support the stratiform mineralization model, as well as better defining the vein, breccia and replacement mineralization near surface.
Fireweed continues to successfully intersect pyrite-sphalerite-galena as stratiform massive sulphides, laminated mineralization, replacement mineralization, veins, and breccias in the 2023 step-outs (Photos 1 to 3). Zinc mineralization has been intersected in every step-out hole that has been completed to depth. Assays have been received for the first sixteen
Hole NB23-016 intersected an 81.34 m interval of stratiform massive sulphide grading 8.46% zinc, 1.06% lead, and 47.0 g/t silver with an estimated true width of approximately 35 m. In addition, two other distinct intervals were intersected, comprising 12.84 m of 4.54% zinc, and 8.8 g/t silver, and 7.68 m of 6.87% zinc, and 9.5 g/t silver.
Hole NB23-012 intersected a 67.78 m intersection (41 m estimated true width) correlated with the stratiform massive sulphides grading 6.26% zinc, 1.22% lead, and 52.0 g/t silver and a 26.17 m interval of vein mineralization grading 3.18% zinc and 8.4 g/t silver.
Hole NB23-011 intersected 44.83 m of stratiform massive sulphide (8.5 m estimated true width) grading 8.30% zinc, 1.16% lead, and 42.9 g/t silver, and two other intercepts of vein style mineralization: 7.99 m grading 4.47% zinc and 8.9 g/t silver and 9.03 m grading 3.69% zinc, 0.31% lead, and 26.4 g/t silver.
Hole NB23-013 intersected 29.77 m (20 m estimated true width) of stratiform massive sulphide grading 2.87% zinc, 0.28% lead and 27.7 g/t silver, as well as two intervals of vein style mineralization: 5.35 m grading 8.31% zinc, 0.25% lead, and 31.0 g/t silver and 5.55 m grading 7.71% zinc, 0.68% lead, and 32.9 g/t silver.
Hole NB23-015 intersected two zones of vein style mineralization: 95.87 m grading 3.21% zinc, 1.06% lead, and 18.5 g/t silver and 43.98 m grading 1.99% zinc, 0.68% lead, and 13.1 g/t silver.
Hole NB23-014 intersected 12.17 m of stratiform massive sulphide grading 4.27% zinc, 1.51% lead, and 38.3 g/t silver.
Hole NB23-010 intersected a distal, near surface expression of the stratiform mineralization that graded 1.79% zinc, 0.40% lead, 9.6 g/t silver over 3.09 m.
Hole NB23-009 was abandoned at 67 m due to ground conditions and redrilled as NB23-011.
Step-out drilling at
NB23-019 intersected 57 m of massive sulphide.
NB23-022 intersected 55 m of massive sulphide.
NB23-028 intersected 140 m of feeder-proximal laminated to massive sulphides.
NB23-029D1 intersected 21 m of stratiform massive sulphide.
NB23-032 intersected 18 m of stratiform massive sulphide.
NB23-034 intersected 49 m of stratiform massive sulphide.
NB23-035 intersected 15 m of stratiform massive sulphide.
NB23-036 intersected 45 m of stratiform massive sulphide.
NB23-037 intersected 110 m of feeder-proximal laminated to massive sulphide.
NB23-038 intersected 13 m of stratiform massive sulphide.
Out of the 40 holes drilled at
Extensive vein, breccia, and replacement mineralization at
2023 Drill Program Drilling Update
The 2023 program is now complete, having achieved 22,500 m of drilling mostly focused on Boundary, Tom, and Jason zones. Higher than forecast drill penetration rates over the initial portion of the season and additional financing allowed Fireweed to expand the program from 16,000 m to >22,000 m. The expanded program included additional step-out holes at
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Data Verification
The diamond drill core logging and sampling program was carried out under a rigorous quality assurance / quality control program using industry best practices. Drill intersections in this release are NQ2 size core (50.5 mm/ 1.99-inch diameter) with recoveries typically above 85% unless otherwise noted in the results tables. After drilling, core was cleaned, logged for geology, structure, and geotechnical characteristics, then marked for sampling and photographed on site. Certain cores were selected for core scanning. The cores for analyses were marked for sampling based on geological intervals with individual samples 2 m or less in length, with 1 m samples within mineralized zones. Drill core was cut lengthwise in half with a core saw; half-core was sent for assays reported in this news release, and the other half is stored on site for reference. Bulk density was determined on site for the entire length of each sample assayed by measurement of mass in air and mass in water. Sample duplicate bulk density determinations and in-house bulk density standard determinations were each made at a rate of 5%. Since 2017, four in-house bulk density standards (mineralized drill core from the Tom deposit that span a range of densities) have been used and show an acceptable long-term precision. Certified standard masses are used to calibrate the scale balance used for bulk density determinations.
A total of 5% assay standards or blanks and 5% core duplicates are included in the sample stream as a quality control measure and are reviewed after analyses are received. Standards and blanks in 2023 drill results to date have been approved as acceptable. Duplicate data add to the long-term estimates of precision for assay data on the project and precision for drill results reported is deemed to be within acceptable levels. Samples were sent to the
Results in this news release are length and bulk-density weighted averages as would be used in a Mineral Resource estimate. Length and bulk-density weighted averages have been reported as these most accurately represent the average metal-content of the intersections.
True widths for primary intervals are estimated by measuring perpendicular to strike within the short axis of a stratiform wireframe that has been constructed in 3D around the mineralized intercepts at
Sphalerite and galena have been identified visually by experienced core logging geologists, and licenced professional geoscientists, confirmed by portable XRF (X-Ray fluorescence). No absolute visual estimates of mineral abundances or inferences of potential zinc or lead grades have been stated for holes without assay values in this news release.
Cautionary Statements
Forward Looking Statements
This news release contains 'forward-looking' statements and information ('forward-looking statements'). All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to interpretation of drill results and projections of mineralization, future work plans, the use of funds, and the potential of the Company's projects, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as 'expects', 'anticipates', 'believes', 'intends', 'estimates', 'potential', 'possible', and similar expressions, or statements that events, conditions, or results 'will', 'may', 'could', or 'should' occur or be achieved. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to, exploration and development risks, unanticipated reclamation expenses, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company's operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, uncertainties involved in the interpretation of drilling results and laboratory tests, and one-time events. The Company assumes no obligation to update forward-looking statements or beliefs, opinions, projections or other factors, except as required by law.
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