Fireweed Metals Substantially Expands Mineral Resource Estimate At Macmillan Pass Project
Fireweed Metals (TSXV: FWZ) has updated its mineral resource estimate for its Macmillan Pass project, which is located in the Yukon. The update includes inaugural resource estimates for both the Boundary and End zones, while expanding both the Tom and Jason deposits.
The expanded resource estimate for the entire project now sees the project boast an indicated resource of 56.00 Mt at 7.27% zinc equivalent, as well as an inferred resource of 48.49 Mt at 7.48% zinc equivalent. The expansion places the Macpass district as one of the largest undeveloped primary zinc districts.
On a contained metal basis, the project is now estimated to contain 6,784 million pounds of zinc, 1,952 million pounds of lead and 43.54 million ounces of silver on an indicated basis. On an inferred basis, the project has a further estimated 5,500 million pounds of zinc, 2,227 million pounds of lead and 39.42 million ounces of silver.
“This resource is the culmination of six years of exploration success at Macpass, including an additional 43,000 metres of drilling at Tom, Jason, End Zone, and our discovery at Boundary Zone, which is one of the most globally significant zinc discoveries of the last 15 years1. We have more than doubled the tonnage from our previously reported resource2, increased the contained zinc metal by 83%, and added open-pit and underground mining volume constraints for reporting,” commented VP of Geology Jack Milton.
The revised estimate is said to be based on the addition of 43,000 metres of drilling that have occurred since the last estimate update in 2018. The estimate however does not include 14,000 metres of drilling that was conducted in 2024.
Fireweed Metals last traded at $1.30 on the TSX Venture.
Information for this story was found via Sedar and the companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.