VANCOUVER, British Columbia, Dec. 28, 2023 (GLOBE NEWSWIRE) -- FIREWEED METALS CORP. ("Fireweed" or the "Company") (TSXV: FWZ; OTCQB: FWEDF; FSE: M0G) is pleased to provide a review of its record-setting 2023 accomplishments in building the Company and advancing its critical metals projects in northern Canada.
CEO and Chairman Statement
Brandon Macdonald, CEO, stated "2023 has been another extraordinary and record-breaking year for Fireweed. The accomplishments are numerous, from drilling our best-ever drill hole at Macpass to completing the field season safely with zero lost time injuries. We have done this while demonstrating that prioritizing economic benefit for and respectful engagement with local indigenous communities not only requires no compromise for the Company but also helps maximize our own outcomes."
John Robins, Chairman, stated "We continue to demonstrate the enormous scale of mineralization in the Macpass region of eastern Yukon which is has emerged now as a truly world-class metallogenic district. If it wasn't enough that we control Macpass, a 940 sq km land package representing over 50 km of strike prospective for zinc-lead-silver deposits, we have now secured the world's largest high-grade tungsten deposit next-door in Mactung. I am incredibly proud of our team for their tireless work this year at our office, in the field, and the many long days on the road."
2023 Highlights
Macpass Project
Mactung Project
Gayna Project
Sustainability Update
Corporate
Qualified Person Statement
Technical information in this news release has been approved by Fireweed Metals CEO, Brandon Macdonald, P.Geo. (BC), a ?Qualified Person' as defined under Canadian National Instrument 43-101.
About Fireweed Metals Corp. (TSXV: FWZ; OTCQB: FWEDF; FSE: M0G): Fireweed Metals Corp. is a Canadian mineral development company focused on sustainably exploring and developing critical metal projects and creating value for our shareholders, partners, and stakeholders. Fireweed has three projects located in Canada including the Macpass Project (Zinc-Lead-Silver), Mactung Project (Tungsten), and Gayna Project (Zinc-Lead-Gallium-Germanium). Fireweed is well-funded, with a healthy balance sheet. In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies and is DTC eligible for enhanced electronic clearing and settlement. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com. In Europe, Fireweed (FSE: M0G) trades on the Frankfurt Stock Exchange. Additional information about Fireweed and its projects can be found on the Company's website at www.fireweedmetals.com and at www.sedarplus.ca
We respectfully acknowledge that Fireweed's projects are located on the traditional territories of Indigenous peoples.
ON BEHALF OF FIREWEED METALS CORP.
"Brandon Macdonald"
CEO & Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this 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, 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.
Investors are cautioned that the drill intersections that are compared to the current Mineral Resources are not subject to any grade capping, and that grades in mineral resource blocks were calculated based on interpolation between assay composites that have capped grades. In the current Mineral Resource at Tom West zinc was capped at 25%, lead was capped at 25%, and silver was capped at 600 g/t; and at Tom East zinc was capped at 30%, lead capped at 50%, and silver at 600 g/t, as described in Fireweed Technical Reports1,2. Grades in new holes were compared to a length and bulk density weighted calculated grade derived from a stack of blocks from the Current Mineral Resource block model perpendicular to the XY plane of the block model spanning the full thickness of the mineralized zone, located through the mid-point of the reported new intersection.
Footnotes and References
* References to relative size and grade of the Mactung resources and Macmillan Pass resources in comparison to other tungsten and zinc deposits elsewhere in the world, respectively, are based on review of the Standard & Poor's Global Market Intelligence Capital IQ database.
1: For details and QP statements, see https://www.sedarplus.ca/ Fireweed Technical Report titled "NI 43-101 Technical Report on the Macmillan Pass Zinc-Lead-Silver Project, Watson Lake and Mayo Mining Districts Yukon Territory, Canada" filed on https://www.sedarplus.ca/ on February 23, 2018, and Fireweed News Release dated January 10, 2018.
2: For details and QP statements, see https://www.sedarplus.ca/ Fireweed Technical Report titled "NI 43-101 Technical Report Macmillan Pass Project Yukon Territory Canada" filed on https://www.sedarplus.ca/ on July 9, 2018, and Fireweed News Release dated May 23, 2018. This Technical Report includes a Preliminary Economic Analysis disclosing an economic analysis of mineral resources that is preliminary in nature and does not include any mineral reserves. It is equally emphasized that the mineral resources disclosed within this Technical Report are not mineral reserves and do not have demonstrated economic viability.
3: For details and QP statements, see Fireweed news release dated June 13, 2023 "Fireweed Metals Announces Mineral Resources for the Mactung Project: the Largest High-Grade Tungsten Deposit in the World" and the technical report entitled "NI 43-101 Technical Report, Mactung Project, Yukon Territory, Canada," with effective date July 28, 2023 filed on https://www.sedarplus.ca/
Contact: Brandon Macdonald
Phone: (604) 646-8361
Email: info@fireweedmetals.com
Figure 1. Project Location Map
Figure 2. Macpass and Mactung Area Map
Table 1. Compiled Boundary Zone Drill Results Highlights to Date
Drillhole | Interval | From (m) | To (m) | Interval Width (m) | Est. True Width (m) | Zinc (%) | Lead (%) | Silver (g/t) | Bulk Density (t/m3) |
NB23-001 | primary | 173.00 | 211.00 | 38.00 | 19.0 | 9.12 | 1.50 | 52.6 | 3.04 |
NB23-001 | including | 174.00 | 194.00 | 20.00 | 10.0 | 15.32 | 2.53 | 86.2 | 3.18 |
NB23-001 | primary | 377.00 | 445.73 | 68.73 | 22.5 | 3.28 | 0.15 | 9.1 | 3.24 |
NB23-001 | including | 400.50 | 418.50 | 18.00 | 5.9 | 6.73 | 0.06 | 8.6 | 2.87 |
NB23-001 | >including | 405.00 | 408.00 | 3.00 | 1.0 | 9.13 | 0.10 | 15.6 | 3.00 |
NB23-002 | primary | 224.74 | 261.00 | 36.26 | N/A | 3.31 | 0.08 | 10.2 | 3.03 |
NB23-002 | including* | 226.00 | 230.20 | 4.20 | 2.1 | 18.71 | 0.30 | 47.1 | 3.41 |
NB23-003 | primary | 208.00 | 279.89 | 71.89 | 40.0 | 6.48 | 3.09 | 97.8 | 4.40 |
NB23-003 | including | 210.60 | 258.25 | 47.65 | 27.0 | 8.58 | 4.29 | 128.5 | 4.56 |
NB23-003 | >including | 210.60 | 232.56 | 21.96 | 12.0 | 10.70 | 6.96 | 178.6 | 4.46 |
NB23-003 | >and | 241.50 | 244.50 | 3.00 | 1.7 | 17.50 | 3.05 | 134.9 | 4.68 |
NB23-004 | Primary | 267.92 | 301.35 | 33.43 | 22.0 | 8.00 | 2.00 | 59.2 | 3.57 |
NB23-004 | Including | 267.92 | 281.80 | 13.88 | 9.1 | 12.60 | 3.70 | 99.4 | 4.29 |
NB23-004 | >including | 268.80 | 277.06 | 8.26 | 5.4 | 14.90 | 4.50 | 124.8 | 4.47 |
NB23-005 | Primary | 139.75 | 165.00 | 25.25 | 22.0 | 6.40 | 0.70 | 31.9 | 3.24 |
NB23-005 | >including | 150.50 | 160.00 | 9.50 | 8.3 | 12.20 | 1.30 | 66.9 | 3.65 |
NB23-006 | Primary | 102.20 | 140.90 | 38.70 | N/A | 5.60 | 0.00 | 6.7 | 2.83 |
NB23-006 | >including* | 121.36 | 123.46 | 2.10 | N/A | 30.70 | 0.10 | 38.8 | 3.62 |
NB23-007 | Primary | 170.70 | 253.20 | 82.50 | 15.0 | 11.90 | 2.20 | 81.2 | 3.15 |
NB23-007 | >including | 180.89 | 207.92 | 27.03 | 4.9 | 26.70 | 4.20 | 165.2 | 3.49 |
NB23-007 | Primary | 308.90 | 426.90 | 118.00 | 40.0 | 15.10 | 2.80 | 85.8 | 4.04 |
NB23-007 | >including | 313.70 | 325.03 | 11.33 | 3.8 | 15.00 | 3.70 | 96.1 | 4.21 |
NB23-007 | >including | 332.30 | 409.37 | 77.07 | 26.0 | 18.70 | 3.50 | 101.4 | 4.00 |
NB23-008 | Primary | 242.20 | 286.90 | 44.70 | N/A | 6.50 | 0.20 | 9.6 | 3.48 |
NB23-008 | >including | 252.00 | 268.30 | 16.30 | N/A | 10.30 | 0.20 | 11.3 | 3.64 |
NB23-008 | Primary | 323.70 | 359.10 | 35.40 | N/A | 5.20 | 0.10 | 8.8 | 3.49 |
NB23-008 | >including | 327.50 | 339.00 | 11.50 | N/A | 10.70 | 0.20 | 13.5 | 3.75 |
NB23-011 | Primary | 204.50 | 249.30 | 44.83 | 8.5 | 8.30 | 1.20 | 42.9 | 3.20 |
NB23-011 | Including | 204.50 | 223.30 | 18.83 | 3.6 | 12.20 | 1.30 | 63.9 | 3.50 |
NB23-011 | >Including | 208.50 | 214.50 | 6.00 | 1.1 | 20.70 | 2.30 | 107.8 | 3.50 |
NB23-012 | Primary | 223.50 | 291.30 | 67.78 | 41.0 | 6.30 | 1.20 | 52.0 | 3.90 |
NB23-012 | Including | 223.50 | 279.10 | 55.57 | 34.0 | 7.20 | 1.40 | 57.1 | 3.90 |
NB23-012 | >Including | 223.50 | 234.00 | 10.52 | 6.3 | 12.80 | 2.30 | 105.7 | 3.80 |
NB23-012 | >>Including | 225.50 | 231.00 | 5.52 | 3.3 | 16.70 | 3.10 | 136.2 | 4.00 |
NB23-012 | Primary | 320.10 | 352.40 | 32.26 | N/A | 3.00 | 0.00 | 5.9 | 3.00 |
NB23-012 | Including | 320.10 | 328.50 | 8.36 | N/A | 4.60 | 0.10 | 8.3 | 3.10 |
NB23-013 | Primary | 408.10 | 437.90 | 29.77 | 20.0 | 2.90 | 0.30 | 27.7 | 4.30 |
NB23-013 | Including | 415.50 | 427.20 | 11.66 | 7.8 | 4.80 | 0.50 | 37.0 | 4.70 |
NB23-014 | Primary | 71.10 | 83.30 | 12.17 | N/A | 4.30 | 1.50 | 38.3 | 3.40 |
NB23-014 | Including | 78.00 | 83.30 | 5.27 | N/A | 6.70 | 3.00 | 66.2 | 3.30 |
NB23-014 | Primary | 149.90 | 161.40 | 11.53 | N/A | 3.20 | 0.30 | 9.7 | 3.30 |
NB23-015 | Primary | 124.10 | 220.00 | 95.87 | N/A | 3.20 | 1.10 | 18.5 | 3.10 |
NB23-015 | Including | 141.50 | 176.50 | 34.98 | N/A | 6.00 | 1.90 | 28.3 | 3.00 |
NB23-015 | >Including | 146.90 | 157.50 | 10.63 | N/A | 10.50 | 4.90 | 64.6 | 3.10 |
NB23-015 | Including | 215.70 | 220.00 | 4.26 | N/A | 6.10 | 4.40 | 78.6 | 3.70 |
NB23-015 | Primary | 253.90 | 297.80 | 43.98 | N/A | 2.00 | 0.70 | 13.1 | 3.30 |
NB23-015 | Including | 274.00 | 278.00 | 3.94 | N/A | 7.00 | 0.60 | 14.7 | 3.10 |
NB23-016 | Primary | 135.80 | 148.60 | 12.84 | N/A | 4.50 | 0.10 | 8.8 | 3.60 |
NB23-016 | Primary | 332.90 | 414.20 | 81.34 | 35.0 | 8.50 | 1.10 | 47.0 | 3.70 |
NB23-016 | Including | 332.90 | 405.90 | 73.02 | 31.0 | 9.00 | 1.10 | 50.1 | 3.70 |
NB23-016 | >Including | 332.90 | 337.50 | 4.62 | 2.0 | 12.10 | 1.40 | 72.5 | 4.20 |
NB23-016 | >Including | 349.00 | 399.00 | 50.04 | 21.0 | 10.70 | 1.30 | 55.6 | 3.80 |
NB23-016 | >>Including | 352.00 | 364.40 | 12.39 | 5.3 | 17.20 | 2.00 | 79.1 | 4.20 |
NB23-019 | Primary | 115.00 | 169.00 | 54.00 | N/A | 7.05 | 0.04 | 10.3 | 3.13 |
NB23-019 | Including | 126.65 | 150.17 | 23.52 | N/A | 10.88 | 0.04 | 14.6 | 3.21 |
NB23-019 | Primary | 196.00 | 230.11 | 34.11 | N/A | 4.04 | 0.01 | 38.3 | 2.82 |
NB23-019 | Including | 213.00 | 230.11 | 17.11 | N/A | 6.37 | 0.01 | 15.9 | 2.85 |
NB23-019 | Primary | 310.57 | 368.00 | 57.43 | 20.0 | 8.42 | 1.77 | 51.8 | 3.42 |
NB23-019 | Including | 311.16 | 319.06 | 7.90 | 3.0 | 16.40 | 5.25 | 150.8 | 4.26 |
NB23-019 | including | 346.26 | 353.00 | 6.74 | 2.0 | 15.10 | 2.56 | 44.7 | 3.65 |
NB23-020 | Primary | 100.81 | 191.30 | 90.49 | N/A | 3.68 | 0.07 | 7.1 | 3.13 |
NB23-020 | Including | 123.00 | 128.80 | 5.80 | N/A | 8.48 | 0.03 | 11.5 | 3.55 |
NB23-021 | Primary | 184.00 | 202.00 | 18.00 | N/A | 13.92 | 0.03 | 36.3 | 3.06 |
NB23-021 | Including | 184.00 | 191.79 | 7.79 | N/A | 20.58 | 0.04 | 56.3 | 3.22 |
NB23-023 | Primary* | 32.01 | 108.78 | 76.77 | N/A | 6.78 | 0.63 | 17.5 | 3.04 |
NB23-023 | Including | 32.01 | 41.74 | 9.73 | N/A | 19.40 | 0.08 | 41.8 | 3.60 |
NB23-023 | Including* | 70.50 | 82.70 | 12.20 | N/A | 16.38 | 2.80 | 44.2 | 3.18 |
NB23-023 | >Including* | 70.50 | 73.70 | 3.20 | N/A | 43.09 | 6.93 | 102.0 | 3.93 |
NB23-024 | Primary | 130.43 | 149.25 | 18.82 | N/A | 13.51 | 0.15 | 20.8 | 3.17 |
NB23-024 | >Including | 141.94 | 147.92 | 5.98 | N/A | 26.87 | 0.39 | 45.7 | 3.55 |
NB23-024 | >>Including | 143.16 | 147.30 | 4.14 | N/A | 32.44 | 0.51 | 56.8 | 3.77 |
NB23-027 | Primary | 141.70 | 187.34 | 45.64 | N/A | 4.65 | 0.03 | 8.0 | 2.92 |
NB23-027 | Primary | 225.70 | 275.60 | 49.90 | N/A | 10.10 | 0.03 | 14.4 | 2.94 |
NB23-027 | Including | 228.45 | 252.30 | 23.85 | N/A | 13.95 | 0.04 | 20.3 | 3.12 |
NB23-027 | >Including | 245.90 | 249.90 | 4.00 | N/A | 31.61 | 0.09 | 49.1 | 3.46 |
NB23-027 | Including | 260.73 | 267.60 | 6.87 | N/A | 12.56 | 0.02 | 17.6 | 2.80 |
NB23-030 | Primary | 224.70 | 277.43 | 52.73 | N/A | 3.27 | 0.01 | 4.0 | 2.87 |
NB23-030 | Primary | 336.90 | 386.44 | 49.54 | N/A | 2.85 | 0.01 | 3.1 | 2.72 |
*denotes intervals with recovery of less than 85%. N/A: Not Applicable due to the variable shapes of breccia and vein mineralization.
Photo accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9ba45f95-13f5-433e-b7fd-a4035d38c7a0
https://www.globenewswire.com/NewsRoom/AttachmentNg/6e3c9d93-f541-491b-85db-6a2e50a3807b
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