Company News – Tue 5 Jun, 2018

Fireweed Begins Field Work at Macmillan Pass and appoints new CFO

Here is the latest news out of Fireweed Zinc. After releasing the PEA the Company is back on the project working to expand the resource.  The news release states all the important details but main takeaway is the large program that is now underway. A total $8million is budgeted with 10,000 meters being drilled.

Click here to listen to the most recent interview with Pres. and CEO Brandon Macdonald regarding the exploration plans and goals for this year and to recap the important PEA.

Click here to visit the Fireweed site for more Company information.

If you have any questions for Brandon please email me at Fleck@kereport.com. I will be sure to get those in front of him.

…Here’s the news…

Vancouver, British Columbia: FIREWEED ZINC LTD. (“Fireweed” or the “Company”) (TSXV: FWZ) is pleased to announce that field crews have been mobilized and field work has begun on the Macmillan Pass Zinc Project in Yukon, Canada, and that the Company has appointed a new CFO.

Macmillan Pass Project Work Program

Field work has begun on the Macmillan Pass zinc-lead-silver project. Building on the success of its first exploration season last year followed by a new Mineral Resource report and a PEA economic study, Fireweed plans to complete an $8 million exploration program on the project in 2018. The planned work and main goals of 2018 work program are as follows.

Drilling Plans

A large 10,000 meter drill program carried out by three drills is planned to begin in the coming weeks with three main goals:

  • Expand known zones through step out drill holes to build tonnage beyond the already substantial Mineral Resources (see Fireweed news release dated January 10, 2018 for details); all zones remain open for expansion
  • Upgrade priority zones to Measured and Indicated categories to de-risk key parts of the Mineral Resources
  • Drill new exploration targets toward discovery of entirely new deposits on the large land package

Details and sections for some of these drill targets are illustrated in the current Company presentation at www.FireweedZinc.com .

Exploration for New Discoveries

Over the past year Fireweed acquired control of almost the entire Macmillan Pass Zinc District, a 470 square kilometer land package. This is also the first time in more than 25 years that any large scale exploration program has been carried out in the district. Utilizing state of the art exploration techniques, Fireweed will carry out a major exploration program in search of new deposits over this large land package with drills readily available to test any new discoveries this year.

The 2018 field exploration work is being driven by modern exploration concepts and will utilize extensive geological mapping, prospecting, geochemical surveys (stream sediment, soil and rock sampling surveys), ground gravity surveys, and topographic surveys (airborne Light Detection and Ranging (LiDAR) and ground Differential GPS (DGPS) surveys).  In all, a crew of about 45 persons (including drillers) will be in camp to carry out the large work programs.

Permitting

Baseline environmental work is continuing and expanding on the project including water sampling and monitoring, drill site and road reclamation, environmental fuel tank installations, and health and safety improvements to the camp and project living infrastructure. This work has the aim of upgrading environmental and living standards on the project site, and to accelerate permitting toward potential future mine production.

Field work (geological mapping, geochemical sampling and test geophysics) as well as environmental water sampling and other permitting related surveys have begun. Drills are expected to arrive on the property in the coming weeks once the access road has been opened for traffic pending small post-winter road repairs.

Brandon Macdonald, CEO, stated “Fireweed has made extraordinary progress since its IPO one year ago culminating in the recently published PEA economic study and with a healthy treasury to fund this aggressive exploration program, we are now taking the next big steps toward expanding and upgrading Mineral Resources and making new discoveries.”

Technical information in this news release has been reviewed and approved by Brandon Macdonald, P.Geo, CEO and a ‘Qualified Person’ as defined under Canadian National Instrument 43?101.

New CFO

Fireweed is pleased to announce the appointment of Eddy Yu, CPA, CMA as the new Chief Financial Officer (“CFO”) of the Company to replace Hang-Ying (Jessie) Lin who has left for personal reasons and resigned as CFO. Mr. Yu is a Chartered Professional Accountant (CMA) with over 20 years of experience in business and financial management.  Prior to joining Fireweed, Eddy has provided financial management and reporting services to many publicly-traded companies and to private companies intending to list on the TSX Venture Exchange.  As a seasoned financial manager, he has had years of proven success in helping businesses improve their performance through sound strategic planning and effective management execution.

George Gorzynski, Executive Vice President, stated “We would like to thank Jessie for her excellent work with the Company through its initial phases and wish her all the best for the future. We are very glad to welcome Eddy to our team. His experience and knowledge will be valuable as we continue to grow Fireweed as a premier zinc exploration and development company.”

About Fireweed Zinc Ltd. (TSX-V: FWZ): Fireweed Zinc is a public mineral exploration company focused on zinc and managed by a veteran team of mining industry professionals. The Company is advancing its large 470 km2Macmillan Pass Project in Yukon, Canada, which is host to the 100% owned Tom and Jason zinc-lead-silver deposits with recently announced new Mineral Resources and a PEA economic study (see Fireweed news releases dated January 10, 2018 and May 23, 2018 for details). The project also includes option agreements on large blocks of adjacent claims (MAC, MC, MP, Jerry, BR and NS) which cover projected extensions of mineralization from the Jason area and areas where previous exploration identified zinc, lead and silver geochemical anomalies in critical host geology.

Additional information about Fireweed Zinc and its Macmillan Pass Project, can be found on the Company’s website at www.FireweedZinc.com and at www.sedar.com .

ON BEHALF OF FIREWEED ZINC LTD.

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.

Forward-Looking Statements

This news release may contain “forward-looking” statements and information relating to the Company and the Macmillan Pass Project that are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, 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, and one-time events. Additional risks are set out in the Company’s prospectus dated May 9, 2017 and filed under the Company’s profile on SEDAR at www.sedar.com.  Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. The Company does not undertake to update forward?looking statements or forward?looking information, except as required by law.

 


Comments:
  1. On June 5, 2018 at 5:16 pm,
    b says:

    I got an email about fwz this morning.
    This one sure is being promoted.
    Probly a good thing for anyone invested, sometimes it seems the promotion is what drives price increases.

    • On June 5, 2018 at 5:43 pm,
      Excelsior says:

      FWZ sure is being promoted, but Brandon is a good ceo and they have grown their resource estimate, got the PEA out, and have done a good deal of work since launching about a year and half ago. The share price movement up for the last year reflects their rerating by the marketplace.

      Yes, promotion has helped drive that price higher with their increased awareness in the 2nd half of 2017 and first half of 2018.

  2. On June 5, 2018 at 5:45 pm,
    Excelsior says:

    New Discoveries in a Historic Mining Camp – Dolly Varden Silver (DV) (DOLLF)

    Cambridge House International – Jun 5, 2018 #Silver in the #Yukon #Video

    https://www.youtube.com/watch?v=SM267PHqIX0

    • On June 5, 2018 at 5:48 pm,
      Excelsior says:

      2018 Field Exploration Program Commences at Dolly Varden (DV) (DOLLF)

      May 16, 2018

      https://ceo.ca/@newswire/2018-field-exploration-program-commences-at-dolly-varden

    • On June 6, 2018 at 4:33 am,
      Excelsior says:

      sorry I tagged Yukon on DV, as it is in BC. I had Alexco on my mind when posting that.

      • On June 6, 2018 at 4:33 am,
        Excelsior says:

        Building out a World Class $Silver Asset – Alexco Resources $AXU $AXR

        Cambridge House International – May 22, 2018 #CorporatePresentation #Yukon #VIDEO

        https://www.youtube.com/watch?v=zKTaLcb9hnQ

        • On June 6, 2018 at 4:42 am,
          Excelsior says:

          Alexco’s neighbors – Metallic Minerals also have a nice exploration program lined up for 2018 that I’ll be watching with keen (or keno) interest. 🙂

          _________________________________________________________________________

          (MMG) (MMNGF)Metallic Minerals Announces 2018 Exploration Program at Keno Silver Project in the Yukon Territory

          May 09, 2018

          “Plans for 2018 follow on the success of the inaugural program in 2017, which advanced three targets to the resource delineation stage, six targets to drill-ready status, and identified a number of earlier stage priority targets for advancement. ”

          https://ceo.ca/@nasdaq/metallic-minerals-announces-2018-exploration-program

    • On June 6, 2018 at 4:40 am,
      Excelsior says:

      (USAS) (USA) Americas Silver Corporation Provides an Exploration and San Rafael Update

      June 05, 2018

      https://www.businesswire.com/news/home/20180605006641/en/

  3. On June 5, 2018 at 7:42 pm,
    CFS says:

    6 Missing, 1 Dead After Mine Dam Bursts In Northern Mexico
    Associated Press – 1 hour ago
    MEXICO CITY (AP) — Rescuers searching Tuesday for seven people missing after a dam containing mineral tailings burst at a mine in the northern Mexican border state of Chihuahua found one body that was not yet identified, state officials said.

    Some 150 people joined the search over a 7-mile (12-kilometer) course through the mountains where the contaminated water rushed after the dam broke Monday at the Rio Tinto mine complex, the state government said in a statement.

    In addition to those missing, two people were reported hospitalized in stable condition.
    Gov. Javier Corral visited the site Tuesday and said the state’s priorities were finding the missing and protecting the Tubares river at the bottom of the watershed.
    Later, Luis Cuauhtemoc Guerra Chacon, state civil protection coordinator, said the mining residue was successfully diverted and had stopped about three miles (6 kilometers) from the Tubares river. The water supply was not at risk, according to the statement.

  4. On June 5, 2018 at 7:44 pm,
    CFS says:

    Mexico Establishes Water Reserves For Country’s Rivers
    Associated Press – 50 minutes ago
    MEXICO CITY (AP) — Mexican President Enrique Pena Nieto has issued a series of decrees establishing water reserves, aiming to preserve sufficient supplies for tens of millions of people.
    The decrees protect defined volumes of water in nearly half of Mexico’s 756 river basins, limiting them to use for humans and nature. Business and industrial access to the reserved volumes will be prohibited.