20269 releases
Fireweed Intersects 43 m True Width Sub-Interval of 10.53% ZnEq in Tom South Step Out
Hole TS26-003 at Tom South on the Macpass Project in Yukon cut 64 m true width of 8.35% ZnEq (111.63 m from 982.34 m downhole) grading 5.42% Zn, 3.21% Pb and 16.8 g/t Ag, including 43 m true width of 10.53% ZnEq and 27 m true width of 12.85% ZnEq. The hole is a ~180 m step-out down dip and east along strike from TS25-001D1 and lies outside the current Mineral Resource. Three rigs are active, with 6,505 m drilled to date in 2026.
Drill resultsFireweed Metals Commences 2026 Field Program
A 2026 field program has begun, comprising roughly 9,500 m of combined diamond and sonic drilling, with up to 7,500 m at Macpass and up to 2,000 m at Mactung in Yukon. Drilling is underway at Macpass, including completion of TS25-003, a 450 m down-dip step-out at Tom South, plus ~1,500 m at Tom East and regional gravity and soil surveys. Mactung geotechnical, hydrogeological and baseline work supports an updated Feasibility Study scheduled for early 2027.
Drill resultsFireweed Announces Results from Annual General and Special Meeting of Shareholders
All eight director nominees — James Beck, Jill Donaldson, Ian Gibbs, Paul Harbidge, Peter Hemstead, Ron Hochstein, Adam Lundin and Wojtek Wodzicki — were elected at Fireweed Metals' annual general and special meeting held May 26, 2026 in Vancouver, BC, with support ranging from 93.12% to 99.90% of votes cast. Shareholders also approved the Company's Stock Option Plan and appointed Davidson & Company LLP as auditors. A total of 130,128,418 common shares, or 57.36% of outstanding votes at the record date, were represented.
CorporateFireweed Metals Closes Previously Announced $61.5 Million Private Placement
A non-brokered private placement of 14,704,140 common shares at $4.18 per share closed on April 2, 2026 for gross proceeds of $61,463,305, a 9% premium to the March 27, 2026 closing price and 14% premium to the 10-day VWAP. JX Advanced Metals subscribed for 11,343,294 shares (approximately 5.0% non-diluted) and entered an investor rights agreement covering anti-dilution, secondment, offtake and participation rights; Lundin Family Trusts took 3,360,846 shares, holding about 22.9%. Proceeds fund the Macpass, Mactung and Gayna projects in northern Canada, infrastructure planning and working capital.
FinancingFireweed Metals Announces $61.5 Million Private Placement with Strategic Investment from JX Advanced Metals Corporation
A non-brokered private placement of up to 14,704,140 common shares at $4.18 per share will raise gross proceeds of up to $61.5 million, a 9% premium to the March 27, 2026 TSXV close and a 14% premium to the 10-day VWAP. JX Advanced Metals is expected to subscribe for about 11,343,294 shares for roughly 5.0% of shares outstanding, and the Lundin Family Trusts for about 3,360,846 shares, maintaining 22.9%. Proceeds fund the Macpass, Mactung and Gayna projects in northern Canada; closing is expected on or about April 7, 2026.
FinancingFireweed Metals Commences Mactung Tungsten Project Feasibility Study
An updated Feasibility Study has begun for the 100%-owned Mactung Tungsten Project in Yukon, Canada, with completion targeted for early 2027 to support mine license applications expected to be submitted in 2027. Wood Canada is lead study consultant, with SLR updating the mineral resource estimate using over 11,000 metres of 2025 drilling and roughly 40,000 metres of historical data, alongside Ausenco, Worley, Knight Piésold and Lorax. The study is supported by a US Department of War DPA Title III award announced in December 2024.
Study resultsFireweed Metals Corp. and Ross River Dena Council Sign Exploration and Collaboration Agreement for Mactung and Macpass Projects
An Exploration and Collaboration Agreement has been signed with the Ross River Dena Council covering the Mactung tungsten and Macpass zinc-lead-silver projects in the Ross River Area of the Kaska Nation Traditional Territory, Yukon. The agreement sets out communication protocols, measures to protect lands, waters and culturally significant sites, direct capacity funding for RRDC participation, and employment, contracting and training opportunities for RRDC members and businesses. Fireweed commits to developing the projects into mines only with RRDC's free, prior and informed consent via the Tū Łídlīni Assessment Process.
CorporateFireweed Grants Stock Options
A total of 3,673,600 stock options have been granted to certain employees and directors of Fireweed Metals under the company's stock option plan. The options are exercisable at $3.14 per share for a five-year term.
CorporateFireweed Intersects Zinc Mineralization in 300 m Step Out at Tom South and Provides Macpass Regional Update
Hole TS25-003, a 300 m step-out at Tom South on the Macpass project in Yukon, intersected 58.30 m grading 2.33% zinc, 0.04% lead and 1.79 g/t silver from 1,164 m, including 5.24 m of 7.80% zinc, 0.05% lead and 2.33 g/t silver; the hole was stopped in mineralization at about 1,222 m due to weather and will be resumed in 2026. Regional holes at Oro returned 13.00 m of 0.45 g/t gold, while Goliath and Centroid drilling returned no significant gold. The 2025 program totalled 19,967 m across Mactung and Macpass, completed November 1, 2025.
Drill results
202517 releases
Fireweed Intersects Zinc Mineralization at Gayna
Drilling at the Gayna property in the Northwest Territories returned 51.22 m of 4.44% zinc from 31.31 m in hole GR25-013, including 24.00 m of 7.34% Zn and 5.17 m of 10.04% Zn, while GR25-012 cut 17.84 m of 3.39% Zn including 3.00 m of 6.32% Zn, and GR25-009 returned 2.00 m of 9.29% Zn. The inaugural program totalled approximately 3,800 m across 16 holes at the Intrepid, Jaws, Zuviel and Propitious targets. Fireweed received a $216,830 Mining Incentive Program grant from the Government of the Northwest Territories.
Drill resultsMactung Project Update
A 11,117 m, 66-hole multi-purpose drill program at the Mactung tungsten project in Yukon has been completed, with assays including 12 m true width of 6.21% WO3 in MT25-048, 16 m of 4.53% WO3 in MT25-051, 29 m of 2.56% WO3 in MT25-034 and 15 m of 2.15% WO3 in MT25-038. A Mineral Resource update and Feasibility Study, funded by the US$15.8 M DPA Title III award, begin before end-2025, with the study running through 2026 and targeted for 2027 release.
CorporateFireweed Grants Stock Options
Stock options exercisable into 50,000 common shares were granted to certain employees under the company's stock option plan. The options carry an exercise price of C$2.98 per share and a five-year term.
CorporateFireweed Intersects 30 m True Width of 33.2% Zinc Equivalent in 115 m Step-Out at Tom South
Hole TS25-001D1 at the Tom South zone of the Macpass Project, Yukon, returned 30 m true width (54.82 m intersected) grading 33.23% zinc equivalent (18.20% Zn, 13.93% Pb, 161.0 g/t Ag) from 891.6 m downhole, including 7.0 m true width at 59.60% ZnEq, in a 115 m down-dip step-out beyond the 2024 Mineral Resource. At Tom West, infill twin TS25-002D1 cut 83 m true width of 5.75% ZnEq. Mactung drilling is complete at ~11,300 m; two rigs continue at Tom.
Drill resultsFireweed Signs Funding Agreement with the Government of Canada Valued at $12.9M to Advance Planning for North Canol Road and Power Improvements
A Contribution Agreement with Natural Resources Canada provides $12.9M to fund planning for road and transmission line improvements in the North Canol corridor, the access route to Fireweed's Macmillan Pass projects near the Yukon–NWT border. The funding completes due diligence for the Critical Minerals Infrastructure Fund contribution announced December 13, 2024. Planned improvements include upgrading roughly 250 kilometres of road from Ross River to Mactung, upgrading the Faro–Ross River line from 25 kV to 138 kV, and a new 138 kV line to Macmillan Pass.
CorporateFireweed Intersects Sulphide Mineralization at Boundary Zone Muon Targets
Drilling at the Boundary Zone of the Macpass Project in Yukon, Canada, testing muon tomography density anomalies, returned 4.40 m of 9.35% zinc, 1.38% lead and 21.2 g/t silver from 202.60 m in hole NB25-004, including 1.20 m of 23.44% Zn, 4.15% Pb and 55.8 g/t Ag, plus 35.34 m of 3.39% Zn including 7.97 m of 8.00% Zn. Hole NB25-002 cut 21.72 m of 3.71% Zn and 4.2 g/t Ag from 200.85 m. All intercepts lie beyond the 2024 resource; germanium and gallium accompany the sphalerite. Five rigs are active across the district.
Drill resultsFireweed Closes $5.6 Million Final Tranche of Non-Brokered Financing
The second and final tranche of a non-brokered private placement closed for gross proceeds of $5,624,033 from 3,124,463 common shares at $1.80 per share, purchased by Nemesia S.à.r.l., controlled by the Lundin Family Trust, after disinterested shareholders approved the trust as a Control Person at a June 25, 2025 special meeting. The closing completes an overall financing raising $60 million in gross proceeds, including a $46 million brokered flow-through placement closed May 28, 2025. Proceeds fund exploration and development of the company's northern Canada projects.
FinancingFireweed Metals Commences 2025 Field Program
Up to 26,000 m of combined diamond drilling is planned for 2025 across Fireweed's Yukon projects, comprising up to 12,000 m at Macpass, up to 11,000 m at Mactung and about 3,000 m at Gayna, with fieldwork underway at Macpass first. The 11,000 m Mactung program, supported under the US Defense Production Act Title III program announced in December 2024, will feed an updated Feasibility Study expected to commence this year. Fireweed has also begun work on the North Canol Infrastructure Improvement Project, conditionally awarded C$12.9 million in December 2024.
Drill resultsFireweed Closes $46 Million Brokered Financing and $8.3 Million Initial Tranche of Non-Brokered Financing
A $46 million brokered private placement closed, comprising 12,545,000 critical mineral charity flow-through shares at $2.79 for $35,000,550 and 4,281,000 non-critical mineral charity flow-through shares at $2.57 for $11,002,170, with agents paid a 5.0% cash commission. An initial non-brokered tranche of 4,653,337 shares at $1.80 raised $8,376,007. A final tranche of 3,124,463 shares to Nemesia Sàrl for $5,624,033 is expected after a June 25, 2025 shareholder meeting. Proceeds fund Macpass, Mactung, Gayna and North Canol work in northern Canada.
FinancingFireweed Upsizes Financing to $60 Million
A previously announced brokered and non-brokered private placement has been increased from $45 million to up to $60 million, with Ventum Financial Corp. as co-lead agent and bookrunner alongside co-lead agent Haywood Securities Inc. The brokered offering now comprises 12,545,000 critical mineral charity flow-through shares at $2.79 for up to $35,000,550 and 4,281,000 non-critical mineral charity flow-through shares at $2.57 for up to $11,002,170. The non-brokered offering is 7,777,800 shares at $1.80 for up to $14,000,040.
FinancingFireweed Announces $45 Million Financing
A brokered and non-brokered private placement for up to $45 million has been launched to fund exploration and development at the Macpass, Mactung, Gayna and NCIIP projects in northern Canada. The brokered portion, led by Ventum Financial and Haywood Securities, seeks up to $35,002,090 through 10,753,000 critical mineral charity flow-through shares at $2.79 and 1,946,000 non-critical mineral charity flow-through shares at $2.57, closing about May 28, 2025. The non-brokered portion totals up to $10 million via 5,555,600 shares at $1.80, with the Lundin Family Trusts intending to participate subject to disinterested shareholder approval at a June 2025 special meeting.
FinancingFireweed Announces Results from Annual General and Special Meeting of Shareholders
Shareholders approved all matters at the annual general and special meeting held April 23, 2025 in Vancouver, with 89,433,316 common shares (49.12% of outstanding votes) represented. Eight directors were elected, including new board members Ron Hochstein and Wojtek Wodzicki, while John Robins, Marcus Chalk and Patrick Downey departed; shareholders also approved the Stock Option Plan and Davidson & Company LLP as auditors. The Company granted 798,000 stock options to employees and directors at $1.85 per share for a five-year term, vesting one-third annually.
CorporateFireweed Metals Identifies Targets using Muon Tomography
Three exploration targets with anomalous modelled density — Boundary East, Boundary South and Boundary North — have been identified outside the mineral resource at the Boundary Zone deposit, Macpass project, Yukon, using a muon tomography survey conducted with Ideon Technologies and corroborated by coincident gravity anomalies. The survey, commissioned in September 2024, used 21 detectors across three PQ drillholes of 450 to 600 m depth; Boundary South has a strike of about 400 m and Boundary North about 280 m. Drill testing is anticipated in 2025, and Fireweed is eligible for up to $1.5 million in funding from DIGITAL.
Drill resultsFireweed Metals Announces the Appointment of Tyler Keeling as CFO
Tyler Keeling has been appointed Chief Financial Officer of Fireweed Metals, succeeding Graham Richardson, who will return his full focus to his role as CFO at Faraday Copper after a transition period. Keeling is a CPA-CA with over 18 years of mining sector experience, including five years in the Lundin Group of Companies at Josemaría Resources and Filo Corp. The Company also granted 145,475 stock options to certain employees and directors, exercisable at $1.63 per share for a five-year term.
ManagementFireweed Grants Stock Options
Stock options exercisable into 2,595,000 common shares were granted to certain officers, employees and consultants under the company's stock option plan. The options carry an exercise price of C$1.48 per share and a five-year term. Fireweed is 100% owner of the 985 km2 Macpass District in Northern Canada, which includes the Macpass zinc-lead-silver project and the Mactung tungsten project.
CorporateFireweed Metals Announces Leadership Transition: Ian Gibbs Appointed CEO, Adam Lundin Joins as Chair of the Board
Ian Gibbs has been appointed Chief Executive Officer, President and Director of Fireweed Metals, and Adam Lundin has been appointed Chair of the Board. Gibbs was previously CFO of Filo Corp. and Josemaría Resources Inc.; Peter Hemstead, formerly interim CEO, and former Chair Paul Harbidge remain on the Board. The Company also granted 350,000 stock options to certain employees and directors, exercisable at $1.42 per share for a five-year term.
ManagementFireweed Metals Acquires Strategic Land Package
Fireweed Metals has acquired the 42 Harvest claims, covering approximately 8.77 km², from Strategic Metals Limited. The claims are fully enclosed within Fireweed's Macpass Project, on the northern side of the property in a belt of known barite-zinc-lead-silver showings. Consideration is C$150,000 cash plus 147,888 Fireweed shares, and a 0.5% NSR royalty on base metals and silver and 2% on gold, with an option to buy back half the royalties for C$1,000,000.
Acquisition
202423 releases
Fireweed Intersects 63.54 m of 6.08% Zinc, 0.89 % Lead, and 10.7 g/t Silver, Including 5.13 m of 30.63% Zinc, 7.83% Lead, and 40.3 g/t Silver at Boundary Zone Step Out Drill hole
Drill hole NB24-015 at the Boundary Zone of the Macpass Project, Yukon returned 63.54 m grading 6.08% zinc, 0.89% lead and 10.7 g/t silver from 29.81 m, including 5.13 m of 30.63% zinc, 7.83% lead and 40.3 g/t silver (3.9 m true width), while NB24-013 cut 65.92 m of 5.09% zinc, 0.42% lead and 15.3 g/t silver. Results cover 15 Boundary Zone and 9 exploration holes, with intercepts stepping out up to 200 m beyond the 2024 resource. All 49 holes drilled in 2024 have now been reported; an updated drill hole database is expected in Q1 2025.
Drill resultsFireweed Intersects 15.12 m of 10.39% Zinc, 18.10 % Lead, and 296.9 g/t Silver, Including 8.15 m of 12.76% Zinc, 22.44% Lead, and 361.4 g/t Silver, at Tom South Step-Out Drill Hole
Drilling at the Macpass Project in Yukon returned 15.12 m (10 m true width) of 10.39% zinc, 18.10% lead and 296.9 g/t silver from 595.52 m in hole TS24-002 at Tom South, including 8.15 m of 12.76% zinc, 22.44% lead and 361.4 g/t Ag. Hole TS24-001 cut 18.15 m of 9.02% Zn, 7.46% Pb and 148.3 g/t Ag, and Jason Main hole JS24-002 returned 28.02 m of 7.10% Zn, 1.41% Pb and 5.6 g/t Ag. Results cover 25 of 49 holes drilled in 2024.
Drill resultsFireweed Metals Wins Robert E. Leckie Award for Responsible and Innovative Exploration and Mining Practices
The 2024 Robert E. Leckie Award for Responsible and Innovative Exploration and Mining Practices was presented to Fireweed Metals by the Yukon Government on November 18 at the Yukon Geoscience Forum in Whitehorse. The award recognized the company's use of muon tomography imaging with Ideon Technologies at Macpass in September 2024, directional drilling, and solar power with battery storage at its Sekie Camp installed with Dena Nezziddi Development Corporation and Solvest Inc.
CorporateFireweed Files Macpass Technical Report and Announces Germanium and Gallium By-Product Elements
A NI 43-101 technical report has been filed on SEDAR+ for the Macmillan Pass (Macpass) zinc-lead-silver project in Yukon, supporting a global resource of 55.98 Mt indicated at 7.27% ZnEq (5.50% zinc, 1.58% lead, 24.2 g/t silver) and 48.46 Mt inferred at 7.48% ZnEq (5.15% zinc, 2.08% lead, 25.3 g/t silver), prepared by SLR Consulting. Germanium and gallium are now reported as by-products: 614,800 kg Ge and 412,900 kg Ga indicated, 394,400 kg Ge and 282,100 kg Ga inferred, with zero value attributed in NSR calculations. The completed 2024 program totalled 16,013 m in 49 holes, with most assays pending.
Study resultsFireweed Announces New Discovery at the Popcorn Target
Drilling at the new Popcorn target on the Macpass Project in Yukon, Canada intersected near-surface vein and replacement mineralization in all seven holes totalling 1,476 m. NB24-004 returned 46.03 m at 4.88% zinc and 3.6 g/t silver from 10.83 m, including 24.96 m at 8.27% zinc and 5.3 g/t silver, and NB24-002 returned 54.75 m at 3.98% zinc and 3.9 g/t silver from 15.75 m. Popcorn lies 600 m northeast of the Boundary Zone resource pit-shell, outside the current Mineral Resource Estimate, with continuity established over 200 m strike.
Drill resultsFireweed Increases Mineral Resources at the Macpass Project Including an Inaugural Resource for Boundary Zone
An updated mineral resource estimate for the Macmillan Pass (Macpass) project in Yukon, with an effective date of September 4, 2024, reports an Indicated Resource of 56.00 Mt at 7.27% zinc equivalent (5.49% zinc, 1.58% lead, 24.2 g/t silver) and an Inferred Resource of 48.49 Mt at 7.48% ZnEq (5.15% zinc, 2.08% lead, 25.3 g/t silver). The estimate, prepared by SLR Consulting, covers the Tom, Jason, End Zone and inaugural Boundary Zone deposits and is based on 124,632 m of drilling across 544 holes, excluding 2024 drilling. Contained ZnEq metal in the Indicated category rose about 300% versus 2018.
Resource updateFireweed Grants Stock Options
Stock options exercisable into 3,520,000 common shares were granted on June 25, 2024 to certain directors, officers, employees and consultants under the company's stock option plan. The options carry an exercise price of C$1.18 per share and a five-year term.
CorporateFireweed Closes Previously Announced Offering for Total Proceeds of $43 Million
A non-brokered private placement closed for gross proceeds of approximately C$43 million, up from the initially announced C$30 million, comprising 12,985,586 shares at C$1.10, 909,090 flow-through shares at C$1.55 and 15,828,359 charity flow-through shares at C$1.73. The Lundin Family Trusts, through Nemesia S.à.r.l., subscribed for 5,000,000 shares and Larry Childress for 3,363,636 shares; insiders acquired 8,422,726 shares in total. Proceeds will fund exploration and development of the company's northern Canada projects, with finder's fees of C$668,060 payable.
FinancingFireweed Metals Increases Private Placement to C$43M and Appoints New Board Chair
A previously announced non-brokered private placement has been increased to gross proceeds of approximately C$43 million, comprising 12,985,586 common shares at C$1.10, 909,090 flow-through shares at C$1.55, and 15,828,359 charitable flow-through shares at C$1.73. Proceeds will fund exploration and development of the company's northern Canada projects, including Macpass in Yukon, with closing expected on or about June 19, 2024. Paul Harbidge was appointed Board Chair, replacing John Robins, who remains a director.
FinancingFireweed Announces Results from Annual General Meeting
All matters put to shareholders at Fireweed Metals' annual general and special meeting, held June 11, 2024 in Vancouver, BC, were approved, with 78,544,062 common shares, or 52.93% of outstanding votes, represented. Directors elected were James Beck, Marcus Chalk, Jill Donaldson, Patrick Downey, Paul Harbidge, Peter Hemstead and John Robins. Shareholders also approved the Stock Option Plan, the appointment of Davidson & Company LLP as auditors, and board discretion to change the company's name.
CorporateFireweed Metals Increases Private Placement to C$41.7M Million
A previously announced non-brokered private placement has been increased to gross proceeds of approximately C$41,740,000, consisting of 12,727,273 common shares at C$1.10 per share and 16,128,243 flow-through common shares issued through a charitable donation arrangement. Proceeds will fund exploration and development of Fireweed's northern Canada projects and general working capital, with flow-through funds applied to Canadian Exploration Expenses renounced effective no later than December 31, 2024. The Lundin Family Trusts will acquire common shares. Closing is subject to TSX Venture Exchange acceptance.
FinancingFireweed Announces $30 Million Financing
A non-brokered private placement for gross proceeds of up to CAD$30,000,000 has been launched, comprising 9,090,909 common shares at CAD$1.10 per share and 11,646,482 premium flow-through common shares issued through a charitable donation arrangement. The Lundin Family Trusts have indicated an intention to subscribe for up to $30.0 million. Proceeds will fund a 14,000-metre drilling and regional exploration program at Macpass, critical path items at Mactung, and working capital. Closing is subject to TSX Venture Exchange acceptance.
FinancingFireweed Launches Largest Regional Exploration Campaign at Macpass
A 14,000+ metre drill program using four diamond drill rigs has been launched at the 977 km2 Macpass district in Yukon, with 8,000 m allocated to step-out holes at Tom, Jason and Boundary and 6,000 m testing new regional targets, including the drill-ready Start Zone and Popcorn prospects. The first rig was expected to start by June 7, 2024, with four rigs operating by late June. Regional work includes helicopter VTEM and magnetic, LiDAR, ground gravity, soil sampling, prospecting and mapping.
Drill resultsFireweed Announces Management Change and Adds Strength to its Leadership
Director Peter Hemstead has been appointed Interim President and Chief Executive Officer of Fireweed Metals, effective immediately, replacing Brandon Macdonald. Adam Lundin, Chair of Lundin Mining, was appointed Strategic Advisor, and Paul Harbidge was appointed an independent Director. The company also intends to nominate Jamie Beck, CEO of Filo Mining, for election to the Board at its upcoming annual general meeting of shareholders.
ManagementFireweed Engages ICP Securities Inc. for Automated Market Making Services
ICP Securities Inc. has been engaged to provide automated market making services for Fireweed Metals, using its ICP Premium algorithm in compliance with TSX Venture Exchange policies. ICP will be paid C$7,500 plus applicable taxes per month, payable monthly in advance, with no performance factors and no stock options or other compensation granted. ICP is an arm's length party and will fund its own trading costs, with no third party providing funds or securities.
CorporateFireweed Upgrades to Trade Shares on the OTCQX Best Market
Fireweed Metals' common shares have been upgraded from the OTCQB Venture Market to the OTCQX Best Market in the United States, trading as of March 12, 2024 under the symbol FWEDF. The company also trades on the TSX Venture Exchange (FWZ) and Frankfurt Stock Exchange (M0G), and is DTC eligible. Fireweed holds the Macpass, Mactung and Gayna projects in Canada.
CorporateFireweed Makes Complete Drill Database Available and Launches New Website
An integrated drill database for the Macmillan Pass (Macpass) Project in Yukon, Canada, containing zinc, lead and silver assays and bulk density data from all Fireweed and historical drilling, is now available for review and download on a newly launched company website, along with 3D viewers and a table of downhole intervals of stratiform mineralized zones at Tom, Jason, End Zone and Boundary Zone. The company stated it will shortly commence a Mineral Resource Estimate updating Tom and Jason and providing an inaugural resource for Boundary Zone.
CorporateFireweed Intersects 14 m True Width of 11.45% Zinc, 5.86% Lead, and 126.3 g/t Silver at the New Tom South Zone
Final 2023 drill results from the Tom and Jason deposits at the Macmillan Pass project in Yukon include hole TS23-009, which cut 17.95 m (est. 14 m true width) of 11.45% zinc, 5.86% lead and 126.3 g/t silver, including 6.6 m of 19.33% zinc, 8.42% lead and 225.1 g/t silver, and hole TS23-009D2, which cut 18.78 m (est. 9.8 m true width) of 9.82% zinc, 11.65% lead and 180.1 g/t silver. Both holes hit the new Tom South zone, a 100 m step-out not in the 2018 mineral resource. A 2023 prospecting program collected 535 rock samples grading 1 to 3,121 ppb gold.
Drill resultsFireweed Intersects 44 m true width of 18.98% Zinc, 2.24% Lead and 114.9 g/t Silver, and 47 m true width of 11.58% Zinc, 1.75% Lead and 54.9 g/t Silver at Boundary Zone
Final 2023 Boundary Zone drill results from the Macmillan Pass project in Yukon include hole NB23-036, which cut 45.22 m of 18.98% zinc, 2.24% lead and 114.9 g/t silver (44 m true width), including 39.22 m of 20.84% zinc, 2.48% lead and 115.4 g/t silver, and hole NB23-037, which cut 118.36 m of 11.58% zinc, 1.75% lead and 54.9 g/t silver (47 m true width). The 2023 program totalled 22,500 m; assays are pending for 11 Tom holes and two Jason holes.
Drill resultsFireweed Drills Best Intersection to Date at Boundary Zone Comprising 143.95 m at 14.45% Zinc, 1.15% Lead, and 60.0 g/t Silver for a True Width of 50 m
Drill hole NB23-028 at the Boundary Zone of the Macmillan Pass project in Yukon returned 143.95 m (50 m estimated true width) grading 14.45% zinc, 1.15% lead and 60.0 g/t silver, including 28.71 m at 25.52% zinc, 1.27% lead and 91.3 g/t silver. NB23-022 returned 66.11 m (18 m true width) at 7.13% zinc, 0.97% lead and 54.8 g/t silver. Assays remain pending for 19 holes, including six at Boundary, 11 at Tom and two at Jason. The 2023 program totalled 22,500 m.
Drill results
202328 releases
Fireweed Provides Year-End Review of Record-Setting 2023 Accomplishments
A 2023 year-end review reports over 22,500 m drilled at the Macpass zinc-lead-silver project in Yukon, including hole NB23-007 with 15 m (true width) of 11.9% zinc, 2.2% lead, 81.2 g/t silver and 40 m (true width) of 15.1% zinc, 2.8% lead, 85.8 g/t silver; assays are pending for 26 of 52 holes, with results expected in early 2024. Fireweed also completed the acquisition of 100% of the 37.6 km² Mactung tungsten project and closed a C$16.8 M financing in September 2023.
CorporateFireweed Advances Boundary Zone, Intersecting 57.4 m of 8.4% Zinc, 1.8% Lead, and 51.8 g/t Silver, and 49.9 m of 10.1% Zinc, and 14.4 g/t Silver
Assay results from the Boundary Zone at the Macmillan Pass project in Yukon include hole NB23-019 with 57.43 m grading 8.42% zinc, 1.77% lead and 51.8 g/t silver (estimated true width 20 m), hole NB23-023 with 76.77 m at 6.78% zinc, 0.63% lead and 17.5 g/t silver, and hole NB23-027 with 49.90 m at 10.1% zinc and 14.4 g/t silver. Assays are pending for 14 Boundary holes, 10 Tom holes and two Jason holes. The 2023 program totalled 22,500 m drilled.
Drill resultsDr. Jack Milton and the Fireweed Metals Team Receive the 2023 AME H.H. “Spud” Huestis Award
Dr. Jack Milton, VP Geology, and the Fireweed team have been named recipients of the 2023 Association for Mineral Exploration (AME) H.H. "Spud" Huestis Award, recognizing prospecting techniques and geoscientific technologies that led to the discovery of Boundary West and expanded mineral resources at the Macmillan Pass (Macpass) Project in Yukon. Work combined high-resolution ground gravity and LiDAR surveys with mapping, core logging and geological interpretation, alongside core scanning, directional drilling, machine learning, drones, passive seismic and muon tomography trials.
CorporateFireweed Identifies Drill Targets at the Gayna Project, NWT
A 40 line-km ground gravity survey completed in 2023 at the Gayna zinc-lead-silver-gallium-germanium project in the Northwest Territories has delineated high-gravity anomalies along carbonate reef margins, coinciding with high lead and zinc soil values. Preliminary unconstrained inversions of the 2022 and 2023 gravity data identified 12 targets with strike lengths of 250 to 1,100 m, which the company says are ready for testing with 2,000 to 3,000 m of diamond drilling. Additional modeling is underway.
Drill resultsFireweed Intersects 81.3 m of 8.5% Zinc, 1.1% Lead, and 47.0 g/t Silver, Including 12.4 m of 17.2% Zinc, 2.0% Lead, and 79.1 g/t Silver at Boundary Zone
Drilling at the Boundary Zone of the Macmillan Pass project in Yukon returned 81.3 m (35 m estimated true width) of 8.5% zinc, 1.1% lead and 47.0 g/t silver in hole NB23-016, including 12.4 m of 17.2% zinc, 2.0% lead and 79.1 g/t silver. Hole NB23-012 cut 67.78 m of 6.3% zinc, 1.2% lead and 52.0 g/t silver, and NB23-011 cut 44.83 m of 8.3% zinc, 1.2% lead and 42.9 g/t silver. The 2023 program is complete at 22,500 m, with assays pending for 24 Boundary, 10 Tom and 2 Jason holes.
Drill resultsFireweed Completes Geophysical Survey at the Gayna Project, NWT
A three-week ground gravity survey has been completed at the 128.75 km² Gayna zinc-lead-silver-gallium-germanium project in the Northwest Territories, providing infill coverage of the 2022 grid, covering targets A, B, C, F and L, and expanding coverage over additional reef-margin targets. The work aims to refine and identify gravity anomalies for future drill testing of Kipushi-style targets. Earlier 2022 rock grab samples returned grades up to 51.2% zinc and 73.7% lead, with gallium of 2 to 42 ppm and germanium of 9 to 99 ppm.
Drill resultsFireweed Announces New Director Adding Mining Development and Corporate Strength
Patrick (Paddy) G. Downey has been appointed to the Board of Directors of Fireweed Metals. Downey has over 40 years of international resource industry experience and is currently CEO of Orezone Gold, having overseen financing, construction and operation of the Bomboré mine in Burkina Faso. The Company granted 240,000 stock options as of September 12, 2023, comprising 230,000 to Downey in connection with his appointment and 10,000 to a consultant, exercisable at $1.42 per share for a five-year term.
ManagementFireweed Closes Previously Announced Offering For Total Proceeds Of $16.8 Million
A non-brokered private placement announced August 10, 2023 closed for total proceeds of $16.8 million, consisting of 8,750,000 flow-through common shares at CAD$1.92 per share. The Lundin Family Trusts subscribed for 4,635,000 shares, Larry Childress for 1,400,000 and Teck Resources for 700,000, with insiders taking 6,085,000 shares in total. Proceeds will fund exploration and development of Fireweed's northern Canada projects, including expansion of the 2023 drill program, and finders fees of $61,355.48 plus 46,945 warrants at $1.37 are payable.
FinancingFireweed Appoints Alex Campbell as Vice President of Corporate Development
Alex Campbell has been appointed Vice President Corporate Development at Fireweed Metals, focusing on finding, evaluating and executing strategic opportunities. Campbell has over ten years of experience across South American mining operations, mine finance and capital markets, including roles at Antofagasta Minerals, Resource Capital Funds and five years with CIBC's Mining Investment Banking Team. The Company also granted 452,000 stock options to certain employees, exercisable at $1.70 per share for a five-year term.
ManagementFireweed’s Provides Update on Previously Announced Offering of $16.8M
The $16.8 million non-brokered private placement first announced August 10, 2023 is fully subscribed with all allocations finalized, and final closing is expected August 31, 2023. The offering comprises 8,750,000 flow-through common shares at CAD$1.92 per share through a charitable donation arrangement, with lead orders from the Lundin Family, Larry Childress and others. Proceeds will fund exploration and development of the company's projects in northern Canada as Canadian Exploration Expenses renounced with an effective date no later than December 31, 2023.
FinancingFireweed Announces $16.8 Million Financing with Key Shareholders
A non-brokered private placement of 8,750,000 flow-through common shares at CAD$1.92 per share for gross proceeds of up to CAD$16,800,000 is being offered to key existing shareholders, with lead orders from the Lundin Family, Larry Childress and others. Proceeds will fund Canadian Exploration Expenses on Fireweed's northern Canada projects, renounced with an effective date no later than December 31, 2023, and will expand the 2023 drill program. Closing is subject to TSX Venture Exchange acceptance.
FinancingFireweed Metals Files Technical Report for its Mactung Project on SEDAR
An NI 43-101 technical report for the Mactung tungsten project in Yukon and Northwest Territories, Canada, has been filed on SEDAR, with an effective and report date of July 28, 2023, authored by Garth Kirkham, P.Geo. of Kirkham Geosystems Ltd. Resources total 41.5 Mt Indicated at 0.73% WO3 and 12.2 Mt Inferred at 0.59% WO3, plus an Exploration Target of 2.5 Mt to 3.5 Mt at 0.4% to 0.6% WO3. Results were previously disclosed June 13, 2023.
Study resultsFireweed Connects Boundary Main and Boundary West with a High-Grade Feeder Zone, intersecting 71.9 m of 6.5 % Zinc 3.1% Lead and 97.8 g/t Silver
Drilling at the Boundary Zone of the Macmillan Pass project in Yukon returned 71.89 m of 6.48% zinc, 3.09% lead and 97.8 g/t silver in hole NB23-003, including 21.96 m of 10.70% zinc, 6.96% lead and 178.6 g/t silver, while NB23-001 cut 38.00 m of 9.12% zinc, 1.50% lead, 52.6 g/t silver and NB23-002 cut 4.20 m of 18.71% zinc. Fireweed says results from the first 18 holes connect Boundary Main and Boundary West in a single zone with over 400 m strike length, followed down-dip at least 350 m. The 2023 program targets over 16,000 m with five rigs, of which more than 8,000 m is complete.
Drill resultsFireweed to Commence Gold Exploration Program at Macmillan Pass in an Emerging Gold District, Yukon
A three-week, C$250,000 reconnaissance greenfields gold program will begin at the 980 km² Macmillan Pass and Mactung projects in Yukon, involving prospecting, mapping and sampling of gold anomalies targeting reduced intrusion-related gold mineralization, led by Jodie Gibson, P.Geo. The work runs alongside Fireweed's ~C$20M drill program focused on step-out drilling of zinc-lead-silver zones at Tom, Jason and Boundary. Fireweed also granted consultants options on 100,000 common shares at C$1.11 per share with a five-year term.
Drill resultsFireweed Drills Wide Step-Out Intersection of Massive Sulphides at Boundary Zone and Starts Up Second Drill Rig
Hole NB23-003 at the Boundary Zone of the Macmillan Pass project in Yukon intersected a 73 m interval of massive stratiform sulphides containing pyrite, galena and sphalerite from 211 to 284 m, interpreted as a first intersection of the conceptual feeder zone linking Boundary West and Boundary Main; true thickness is not known and the intersection is open along strike and at depth. All three of the first 2023 holes hit zinc-lead mineralization. A second of five drill rigs began coring at the Tom deposit on June 18, within a program of over 16,000 m planned.
Drill resultsFireweed Announces Near-Term Plans for Mactung Project
A Preliminary Economic Assessment on the Mactung tungsten project in Yukon will begin this quarter and conclude before year-end, building on North American Tungsten's 2009 Feasibility Study. A metallurgical test program with Base Metallurgical Laboratories Ltd. to optimize the flowsheet and evaluate gold and copper recovery is underway, with results expected in Q4 2023, alongside summer environmental and permafrost field programs. Fireweed also granted 4,544,000 stock options at C$1.01 per share with five-year terms.
CorporateFireweed Metals Announces Mineral Resources for the Mactung Project: the Largest High-Grade Tungsten Deposit in the World*
A new mineral resource estimate for the Mactung tungsten project, straddling the Yukon–Northwest Territories border, totals 41.5 Mt Indicated at 0.73% WO3 and 12.2 Mt Inferred at 0.59% WO3, with an additional Exploration Target of 2.5–3.5 Mt at 0.4–0.6% WO3. Cut-off grades of 0.25% WO3 (open pit) and 0.5% WO3 (underground) were based on a US$240/mtu concentrate price. Copper and gold were estimated as by-products; metallurgical test work on recoveries is underway. A NI 43-101 technical report will be filed within 45 days.
Resource updateFireweed Starts Largest Ever Drill Program at Macmillan Pass Focused on Expansion of All Mineralized Zones
Diamond drilling has begun at the Macmillan Pass zinc-lead-silver project in Yukon, with plans for over 16,000 m using five rigs across the Boundary, Tom and Jason zones. Phase 1 will step out from 2022 Boundary Zone holes, including NB22-023 which cut 298 m of 4.5% zinc, 1.4% lead and 30.9 g/t silver, and test a potential feeder zone between Boundary West and Boundary Main. A 48-person camp expansion is under construction and year-round environmental baseline studies have started; cash exceeds C$30 million.
Drill resultsFireweed Announces results from Annual General Meeting
All matters put to shareholders at Fireweed Metals' annual general meeting, held May 31, 2023 in Vancouver, BC, were approved, including election of the director nominees, the Company's Stock Option Plan, and the appointment of Davidson & Company LLP as auditors for the ensuing year. A total of 35,535,951 common shares, or 26.26% of votes attached to all outstanding shares as at the record date, were represented. Directors George Gorzynski and Peter Hairsine did not stand for re-election.
CorporateFireweed Announces Plans for 16,000m Drill Program at Macmillan Pass and Appoints New Vice President of Operations
At least 16,000 m of drilling with five drills is planned for the 2023 season at the Macmillan Pass zinc-lead-silver project in Yukon, focused on step-out drilling at the Boundary Zone and step-out and infill drilling at the Tom and Jason deposits, with mobilization in May, drilling from June to September and a camp expansion to house up to 150 people. Andrew Crook, P.Eng., previously Deputy Project Director at Kinross Gold's Manh Choh project, was appointed Vice President of Operations. Fireweed holds approximately C$35,000,000 in cash. Year-round baseline environmental studies begin in 2023 at Macmillan Pass and Mactung.
Drill resultsFireweed Appoints Market-Maker
PI Financial Corp. has been retained to provide market-making services for Fireweed Metals on the TSX Venture Exchange, trading Company securities to maintain an orderly market. Fireweed will pay PI a monthly fee of $4,000 for a minimum term of three months, renewable thereafter, with no shares or options as compensation and capital provided by PI. The two parties are unrelated and unaffiliated. Fireweed reports a current cash position of approximately C$38,000,000.
ManagementFireweed Drills High-Grade at Tom: 40.6 m True Width of 15.2% Zinc, 14.6% Lead, and 181.6 g/t Silver, Including 20.9 m of 20.7% Zinc, 22.4% Lead, and 280.0 g/t Silver
Final 2022 drill results from the Tom deposit at Macmillan Pass, Yukon, include hole TS22-009, which cut a true width of 40.6 m grading 15.2% zinc, 14.6% lead and 181.6 g/t silver, including 20.9 m of 20.7% zinc, 22.4% lead and 280.0 g/t silver. TS22-001 returned 26.9 m true width of 9.3% zinc, 5.4% lead and 61.5 g/t silver, and Tom East hole TS22-002 returned 16.9 m of 10.7% zinc, 5.0% lead and 98.8 g/t silver. Six of eight Tom West infill holes exceeded current resource model grades.
Drill resultsFireweed Drills 298 m of 4.5% Zinc, 1.4% Lead and 30.9 g/t Silver Including a new zone of 24.5% Zinc, 15.1% Lead and 323.2 g/t Silver over 9.6 m
Final 2022 drill results from Boundary Zone at the Macmillan Pass project in Yukon include hole NB22-023, which cut 298 m of 4.5% zinc, 1.4% lead and 30.9 g/t silver, including 9.6 m of 24.5% zinc, 15.1% lead and 323.2 g/t silver in a new stratiform zone. NB22-022 returned 226.8 m of 5.7% zinc, 0.6% lead and 21.6 g/t silver, and NB22-017 cut 60.5 m of 12.0% zinc and 21.9 g/t silver from within 20 m of surface. Results from nine holes at the Tom deposit are pending; Fireweed holds about C$38,000,000 in cash.
Drill resultsFireweed Announces Signing of Definitive Agreement on Mactung Project
A definitive Asset Purchase Agreement has been signed with the Government of Northwest Territories to acquire a 100% interest in the 37.6 km² Mactung tungsten project on the Yukon–Northwest Territories border for C$15,000,000, comprising $1,500,000 already paid, $3,500,000 within 18 months of closing, $5,000,000 on announcing intent to build a mine at Mactung or Macmillan Pass, and $5,000,000 on announcing intent to build a mine at Mactung. Closing is expected about April 5, 2023; the project carries an existing 4% NSR, half of which can be bought for $2.5 million.
AcquisitionFireweed Drills 105 m of 8.4% Zinc and 12.1 g/t Silver including 12.75 m of 24.9% Zinc and 41.7 g/t Silver
Drill hole NB22-021 at the Boundary Main area of the Macmillan Pass zinc-lead-silver project in Yukon returned 105 m of 8.4% zinc and 12.1 g/t silver from surface, including 12.75 m of 24.9% zinc and 41.7 g/t silver and 3.83 m of 40.0% zinc and 62.6 g/t silver. A new stratiform zone below the Boundary Main Fault returned 8 m of 11.5% zinc, 1.7% lead and 61 g/t silver in NB22-018. Results from five Boundary holes and nine Tom deposit holes remain pending.
Drill resultsFireweed Drills 56.5 m of 6.34% Zinc and 36.4 g/t Silver including 11.6 m of 10.9% Zinc and 43.5 g/t Silver
Infill hole NB22-019 at Boundary West, Macmillan Pass, Yukon, returned 56.5 m of 6.3% zinc, 0.4% lead and 36.4 g/t silver, including 11.6 m of 10.9% zinc, 0.3% lead and 43.5 g/t silver and 13 m of 9.6% zinc, 0.7% lead and 48.2 g/t silver, plus a ~50 m step-out of Howard Pass style mineralization grading 15.6 m of 2.6% zinc. Step-out holes NB22-004 returned 28 m of 2.6% zinc, 1.5% lead, 26.5 g/t silver, and NB22-007 returned 7.3 m of 10.7% zinc, 1.7% lead, 75.1 g/t silver. Assays from 21 holes at Boundary Main and Tom are pending; cash position is C$38.6M.
Drill resultsFireweed Drills 12.5 m of 11.17% Zinc including 6.2 m of 15.84% Zinc at Boundary Main
Step-out drillhole NB22-006 at the Boundary Main zone, Macmillan Pass project, Yukon, returned 12.5 m of 11.17% zinc including 6.22 m of 15.84% zinc, plus 10.5 m of 0.45% copper and 2.32% zinc. Hole NB22-008 intersected a new laminated zone grading 14.55% zinc, 1.50% lead and 28.8 g/t silver over 2.65 m, and 3.32% zinc over 30.68 m. Assays from 24 additional holes at Boundary and Tom are pending. Cash finders' fees on the $35 million private placement totalled $403,346.99.
Drill results
202225 releases
Fireweed Provides Year-End Review Of 2022 Accomplishments
A 2022 review reports $49 million raised ($13 million in May, $35 million in December), the Lundin Family and associates becoming largest shareholders at 17.85%, the largest drill program in company history at Macmillan Pass in Yukon including 124 metres of 12.3% zinc, 1.3% lead and 45.9 g/t silver at Boundary West, and the acquisition agreements for the 37.6 km2 Mactung and 128.75 km2 Gayna River projects. Fireweed also received a three-year Class 3 Quartz Mining Land Use Approval for the Nidd Property allowing up to 150 drill holes totaling 60,000 metres, and closed 350,000 additional shares at $0.74, bringing placement proceeds to $35,398,720.
CorporateFireweed Closes Previously Announced Offering for Total Proceeds Of $35 MILLION
A non-brokered private placement first announced November 29, 2022 closed for gross proceeds of $35,139,720, up from the initial $27 million offering, comprising 31,713,027 shares at CAD$0.74, 4,672,818 flow-through shares at CAD$0.88 and 6,300,000 premium flow-through shares at CAD$1.20 under a charitable donation arrangement. The Lundin Family and Associates subscribed for 27 million shares, Larry Childress for 3.3 million and Teck Resources for 3.4 million. Proceeds will fund exploration and development of Fireweed's northern Canada projects and working capital.
FinancingFireweed Announces Increase to Previously Announced Offering To $35 Million
A previously announced private placement has been increased to gross proceeds of up to $35 million, with the offering now sized at $34,926,240 following oversubscription. It comprises 31,180,757 shares at CAD$0.74, 4,877,818 flow-through shares at CAD$0.88, and 6,300,000 premium flow-through shares at CAD$1.20 through a charitable donation arrangement. Proceeds will fund exploration and development of Fireweed's northern Canada projects and general working capital, with flow-through expenses renounced effective no later than December 31, 2022.
FinancingFireweed Announces Lundin Family Leading $27 Million Private Placement
A non-brokered private placement for gross proceeds of up to CAD$27,523,500 has been launched, with lead orders from members of the Lundin family, who will collectively become Fireweed's largest shareholder, plus over $5M from other key shareholders. The offering comprises 28,275,000 shares at CAD$0.74, 3,000,000 flow-through shares at CAD$0.88, and 3,300,000 premium flow-through shares at CAD$1.20 via a charitable donation arrangement. Proceeds will fund exploration and development of the Company's northern Canada projects and working capital.
FinancingFireweed Identifies New Targets at Gayna River, NWT Following Completion of First Exploration Program
Results from the first exploration program at the 128.75 km² Gayna River project in the Northwest Territories identified new drill targets. All eight grab samples graded above 7% zinc, with a high of 51.2% zinc (including 42 ppm gallium and 39 ppm germanium) and one sample at 73.7% lead; all ten soil samples exceeded 4,000 ppm lead, including one at 27.5% lead and 176 ppm silver. A 52.7 line-km ground gravity survey and LiDAR over the property were completed, supported by a $132,000 NWT Mining Incentive Program grant.
Drill resultsFireweed Discovers More Zinc Mineralization at Macmillan Pass, and Completes 7,000 M Drill Program
A 7,000 m diamond drilling program has been completed at the Macmillan Pass zinc-lead-silver project in Yukon, with assays pending for all holes. Twenty-three holes were drilled at Boundary Zone (six at Boundary West, seventeen at Boundary Main), including a 75 m step-out intersection in NB22-002 and a new massive sulphide zone intersected in three holes 70–120 m below surface with interpreted true thickness of 7 to 10 m. Nine infill holes were completed at the Tom deposits, and approximately 11,000 m of core was scanned with XRF and hyperspectral sensors.
Drill resultsFireweed Announces Positive Metallurgy from Boundary Zone, Macmillan Pass
First metallurgical and ore-sorting test results from the Boundary Zone at the Macmillan Pass project, Yukon, show open-circuit cleaner flotation zinc recoveries of 68–97% at concentrate grades of 53–63% zinc, with rougher recoveries up to 99% at a coarse grind. Germanium and gallium are present in the zinc concentrates at potentially recoverable levels. Ore sorting by XRF alone returned 75–88% zinc recovery at 36–52% mass pull on lower-grade material. Testing used approximately 2.6 tonnes of drill core.
Study resultsFireweed Announces New Director Adding Governance and Corporate Strength
Jill Donaldson has been appointed to the Board of Directors of Fireweed Metals as an independent director. Donaldson is a corporate and securities lawyer with an ICD.D designation, a director of Prospera Credit Union and Canuck Place Children's Hospice, and a former director of Great Bear Royalties Corp. In connection with the appointment, she was granted 190,000 stock options priced at $0.59 per share for a five-year term.
ManagementFireweed Reports New Mineralization At MacMillan Pass, Update For Mactung And Gayna River
Drilling at the Macmillan Pass zinc-lead-silver project in Yukon has intersected massive pyrite-sphalerite-galena mineralization in holes NB22-001 and NB22-002 south of a fault at Boundary West, 120 m and 30 m laterally from hole NB21-002's intersection of 8.22% zinc, 0.71% lead and 53.6 g/t silver over 316-377 m, while hole NB22-008 encountered laminated zinc-lead mineralization from 41.89-42.89 m at Boundary Main. Nineteen holes totaling 5,234 m are complete, with assays pending and four rigs turning. The Mactung mineral resource update is now expected in early 2023 following bulk density and reassay work.
Drill resultsFireweed Announces New Director and Grant of Stock Options
Peter Hairsine has been appointed to Fireweed Metals' Board of Directors. Hairsine is a partner in Ibaera Capital, a Fireweed shareholder, and a former Project Study Manager and Manager of Business Development for Fortescue Metals. The Company also granted 3,950,000 stock options exercisable at $0.55 per share for a five-year term, with 2,860,000 to management, staff and consultants and 1,090,000 to non-management directors.
ManagementFireweed Commences 2022 Drill Program At Macmillan Pass
Diamond drilling has started at the Macmillan Pass zinc-lead-silver project in Yukon, Canada, with plans to complete over 7,000 m using four drills — reduced from the 8,000 m initially announced due to a late start. Two of the four rigs are turning; three will target the Boundary and Boundary West zones, while the fourth drills Tom West, Tom North, Jason and Jason South. The program will support new and updated mineral resources.
Drill resultsFireweed Commences Gravity Survey at Gayna River Zinc project
A ground gravity survey has begun at the Gayna River project in the Northwest Territories, using 50 m station spacing across several grids to target Kipushi-style massive sulphide mineralization within approximately 100-200 m of surface; the work is being carried out by Aurora Geosciences. A fixed-wing LiDAR survey will be flown this summer to support terrain corrections and future mapping. Fireweed received a Mining Incentive Program grant from the Government of the Northwest Territories valued at up to $132,000.
Drill resultsFireweed Provides Update on Name Change to ‘Fireweed Metals Corp.’
The TSX Venture Exchange has approved Fireweed Zinc Ltd.'s name change to Fireweed Metals Corp., with trading under the new name beginning Thursday, June 30, 2022. The company will continue to trade under the symbol FWZ, and the number of shares outstanding will not change. The change follows the company's June 21, 2022 news release.
CorporateFireweed to Rebrand as “Fireweed Metals Corp.” to Reflect Its Emergence as a Leading Critical Minerals Company
Fireweed Zinc Ltd. is rebranding as Fireweed Metals Corp., with formal adoption of the new name pending regulatory approvals including TSX Venture Exchange approval. The name change was approved by special resolution at the Annual General and Special Meeting held May 25, 2022 and by the Board of Directors. Shares will continue trading under the same symbols (TSXV: FWZ; OTCQB: FWEDF; FSE: 20F) under a new CUSIP number, with no change to shares outstanding. A redesigned website, www.FireweedMetals.com, launched today.
CorporateFireweed Zinc Mobilizes Field Crews for $10M Drill Program at Macmillan Pass
Field crews have mobilized to the Macmillan Pass property in Yukon, Canada ahead of a four-rig, 8,000 m diamond drill program, the company's largest to date. About 5,800 m will target step-outs and infill at Boundary Main and Boundary West, with roughly 2,300 m at Tom West, Tom North, Jason Main and Jason South. The program also includes GeologicAI core scanning and an Ideon Technologies muon tomography survey at Boundary West, supporting a planned resource update and new PEA.
Drill resultsFireweed Zinc Announces Results of Annual and Special Meeting of Shareholders and Depository Trust Company (DTC) Eligibility in USA
Shareholders voted 25,038,453 shares at the Annual and Special Meeting held May 25, 2022, re-electing all six incumbent directors, appointing Davidson & Company LLP as auditors, ratifying the updated 10% rolling stock option plan, and approving by special resolution a name change to Fireweed Metals Corp., subject to TSX Venture Exchange and Yukon Registrar approval. Fireweed shares are now DTC eligible for electronic clearing and settlement in the USA, complementing its OTCQB listing (FWEDF).
CorporateFireweed Zinc Acquires Mactung Tungsten Project
A binding letter of intent has been signed with the Government of the Northwest Territories to acquire a 100% interest in the 37.6 km² Mactung Tungsten Project, straddling Yukon and the Northwest Territories adjacent to Fireweed's Macmillan Pass project, for C$15,000,000: $1,500,000 on signing, $3,500,000 within 18 months on a definitive agreement, and two $5,000,000 payments tied to mine construction decisions. Mactung carries a 4% NSR royalty, 2% of which can be bought for $2.5M. Historic 2007 estimates total 33.03 Mt indicated at 0.88% WO3 and 11.86 Mt inferred at 0.78% WO3. A definitive agreement is targeted before the end of 2022, with a new resource estimate and a PEA planned for 2023.
AcquisitionFireweed Zinc Closes Previously Announced Offering for Total Proceeds of C$13.1M
The second and final tranche of a non-brokered private placement has closed, bringing the offering to 8,472,159 common shares at C$0.70 and 7,300,000 flow-through shares at C$0.99 for total gross proceeds of C$13,157,511, up from the initial C$9.7 million. Teck Resources purchased 4,285,714 common shares, raising its interest from 4.9% to about 8.7%, while Ibaera Capital bought 3,571,429 shares, moving from 8.3% to about 10.7%. Proceeds will fund exploration and development at the Macmillan Pass Project in Yukon, Canada.
FinancingFireweed Zinc Acquires the Gayna River Zinc Project by Staking
Fireweed Zinc acquired 100% of the Gayna River zinc project in the Northwest Territories by staking 12,875 hectares (128.75 square kilometres) covering all historic showings and anomalies, located about 180 km west of Norman Wells and 180 km north of the Macmillan Pass project. Rio Tinto completed over 28,000 m of historic drilling, with intersections including 21.3 m of 8.14% zinc and 12.2 m of 6.65% zinc. Historical estimates of 2,436,798 tonnes at 4.58% zinc and 0.52% lead, and an exploration target of roughly 51 million tonnes at 5% combined zinc and lead, are not treated as current mineral resources. Historic grab samples returned gallium up to 68 ppm and germanium up to 15.6 ppm.
AcquisitionFIREWEED PROVIDES UPDATE ON PREVIOUSLY ANNOUNCED OFFERING
The second and final tranche of Fireweed Zinc's non-brokered private placement will consist of 2,885,715 common shares at CAD$0.70 per share and 100,000 flow-through shares at CAD$0.99 per share for proceeds of $2,119,000, bringing the total offering to 8,472,159 common shares and 7,300,000 flow-through shares for $13,157,511. The remaining orders will close once filings are approved to allow a subscriber to exceed 10% ownership, expected to take at least another week. Proceeds are for exploration and development of the Macmillan Pass Project in Yukon and working capital.
FinancingFIREWEED CLOSES FIRST TRANCHE OF PREVIOUSLY ANNOUNCED OFFERING
The first tranche of a previously announced non-brokered private placement has closed, comprising 5,586,444 common shares at CAD$0.70 per share and 7,200,000 flow-through common shares at CAD$0.99 per share, for total proceeds of $11,038,511. Remaining orders will close once subscription agreements and filings are complete. Proceeds will fund exploration and development at the Macmillan Pass Project in Yukon, Canada, and general working capital, with flow-through proceeds spent on Canadian Exploration Expenses renounced effective no later than December 31, 2022.
FinancingFIREWEED ANNOUNCES INCREASE TO PREVIOUSLY ANNOUNCED OFFERING TO $12 MILLION
A previously announced non-brokered private placement has been increased to gross proceeds of up to $12,063,000, consisting of up to 7,050,000 common shares at CAD$0.70 per share and 7,200,000 flow-through common shares at CAD$0.99 per share. Proceeds will fund exploration and development at the Macmillan Pass Project in Yukon, Canada, and general working capital, with flow-through proceeds applied to Canadian Exploration Expenses renounced with an effective date no later than December 31, 2022. Closing remains subject to TSX Venture Exchange acceptance.
FinancingFIREWEED ZINC ANNOUNCES $9.7 MILLION PRIVATE PLACEMENT WITH STRATEGIC INVESTORS
A non-brokered private placement for gross proceeds of up to CAD$9.68 million was announced, consisting of 5,714,287 common shares at CAD$0.70 and 5,737,373 charity flow-through shares at CAD$0.99. Teck Resources has agreed to buy 4,285,714 common shares, raising its interest from 4.9% to about 9.2%, and Ibaera Capital 3,571,429 shares, increasing its stake from 8.3% to about 11.3%; a high-net-worth individual committed a further $2.5M. Proceeds will fund the Macmillan Pass Project in Yukon, including resource updates and a PEA.
FinancingFIREWEED ZINC PROVIDES FINAL BOUNDARY ZONE DRILL RESULTS AND A 2021 EXPLORATION REVIEW
Final two holes from the 2021 drill program at Boundary West, Macmillan Pass zinc-lead-silver project in Yukon, returned 13.99% zinc, 0.23% lead and 56.9 g/t silver over 3.05 m within 4.89% zinc, 0.67% lead and 34.0 g/t silver over 21.6 m in NB21-009, while NB21-010 extended mineralization over a 400 m strike length. The 2021 program totalled 13 holes (3,850 m), plus 91 line km of ground gravity and 1,305 line km of airborne VTEM surveys. Fireweed also exercised its option on the Oro Property, giving it 100% of the 940 km2 project.
Drill results