Silver

Fireweed Metals

Fireweed Metals

TSXV:FWZ

Critical Metals for Present and Future Generations

​Company Highlights

  • Fireweed Metals Corp. is a company that explores and develops critical metals projects through progressive leadership, innovation, and collaboration.
  • Fireweed has three critical metals projects in northern Canada
    • The flagship project is the 100% owned Macmillan Pass Project (Yukon), one of the world’s largest undeveloped zinc-lead-silver resources.
    • Fireweed holds the Mactung Project (Yukon/NWT), which is one of the world’s largest and highest grade undeveloped tungsten deposits located adjacent to the Macmillan Pass Project, through a binding Letter of Intent purchase agreement.
    • Fireweed recently staked the Gayna River Project (NWT), host to an extensive zinc-lead-silver (-gallium-germanium) mineralization.
  • Fireweed is currently carrying out a large program of drilling at Macmillan Pass with the goal to further expand and define zones for an updated Mineral Resource study, as well as smaller programs at Mactung and Gayna River.
CEO Interviews
Press Releases
INNspired

Overview

Fireweed is a Canadian mining exploration and development company focused on advancing the Macmillan Pass, Mactung and Gayna River Projects located in the Yukon and Northwest Territories, Canada.

Fireweed Metals will sustainably explore and develop critical minerals assets to support the transition to a low-carbon economy. We will do this in a way that reflects our core value of respect, for both the environment in which we work and the people we work with. We will focus on leading with integrity, striving for consistency in words and actions, being honest, transparent, and accountable, mitigating health and safety risks, and being progressive and innovative while promoting environmental and social stewardship. Our collaborative and responsive nature will result in meaningful and trusting relationships with employees and local communities and successful partnerships with and benefits for First Nations and shareholders.

Fireweed Metals

Fireweed Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT


Overview

Fireweed is a Canadian mining exploration and development company focused on advancing the Macmillan Pass, Mactung and Gayna River Projects located in the Yukon and Northwest Territories, Canada.

Fireweed Metals will sustainably explore and develop critical minerals assets to support the transition to a low-carbon economy. We will do this in a way that reflects our core value of respect, for both the environment in which we work and the people we work with. We will focus on leading with integrity, striving for consistency in words and actions, being honest, transparent, and accountable, mitigating health and safety risks, and being progressive and innovative while promoting environmental and social stewardship. Our collaborative and responsive nature will result in meaningful and trusting relationships with employees and local communities and successful partnerships with and benefits for First Nations and shareholders.

Fireweed properties location map

Fireweed properties location map.

Company Highlights

  • Fireweed Metals Corp. is a company that explores and develops critical metals projects through progressive leadership, innovation, and collaboration.
  • Fireweed has three critical metals projects in northern Canada
    • The flagship project is the 100% owned Macmillan Pass Project (Yukon), one of the world’s largest undeveloped zinc-lead-silver resources.
    • Fireweed holds the Mactung Project (Yukon/NWT), which is one of the world’s largest and highest grade undeveloped tungsten deposits located adjacent to the Macmillan Pass Project, through a binding Letter of Intent purchase agreement.
    • Fireweed recently staked the Gayna River Project (NWT), host to an extensive zinc-lead-silver (-gallium-germanium) mineralization.
  • Fireweed is currently carrying out a large program of drilling at Macmillan Pass with the goal to further expand and define zones for an updated Mineral Resource study, as well as smaller programs at Mactung and Gayna River.

Key Projects

Macmillan Pass Zinc-Lead-Silver Project, Yukon

Overview

The large Macmillan Pass property encompasses 940 km2 of contiguous mineral claims located 200 km northeast of the settlement of Ross River in the eastern Yukon Territory of Canada. It lies within the traditional territories of the Kaska Dena and First Nation of Na-Cho Nyäk Dun. It is host to the large Tom and Jason shale-hosted zinc-lead-silver deposits as well as the Boundary Zone, Boundary West Zone, Tom North Zone and End Zone which have significant mineralization drilled but not yet classified as mineral resources. The property also includes large blocks of 100 percent-owned adjacent claims (Mac, MC, MP, Jerry, BR , NS, Oro, Sol, Ben and Stump) which cover exploration targets in the district where previous and recent work identified zinc, lead and silver prospects, and geophysical and geochemical anomalies in prospective host geology. The Company has a 70-person camp near the Tom deposit which is accessible via the North Canol Road from the community of Ross River and via a local airstrip.

The Tom and Jason deposits are located in the Selwyn Basin and hosted in Devonian-age Lower Earn Group sedimentary rocks. Zinc-lead-silver sulphide-barite mineralization typically occurs in thick stratiform lenses and extends for as much as 1,200 meters along strike and 450+ meters down dip. The Boundary zones are different and consist of veins, stockworks, disseminations and replacement sulphide mineralization as well as multiple horizons of stratiform mineralization in Devonian-age Lower Earn Group and Silurian-age Road River Group sedimentary rocks respectively. The main economic sulphide minerals are sphalerite and galena.

Macmillan Pass property map

Macmillan Pass property map

Tom-Jason Mineral Resource Report

Based on the 2017 drill results along with the historic core re-sampling results and compilation of historic data, the Company announced updated NI43-101 mineral resources for the Tom and Jason deposits on January 10, 2018 which were substantially larger than historically reported resources. The updated base case resources were as follows:

Base Case Tom+Jason Mineral Resource Estimates

Details and supporting information are provided in the NI43-101 Technical Report posted on www.sedar.com and in the Company’s news release, both dated January 10, 2018. Additional mineralization subsequently drilled and being drilled at Boundary Zone, Boundary West Zone, Tom North Zone and End Zone as well as step out drill holes at Tom and Jason will be considered in a future updated mineral resource estimate for the Property.

Tom-Jason Preliminary Economic Assessment Report

On May 23, 2018, the Company announced the positive results of an independent NI43-101 Preliminary Economic Assessment (“PEA”) for the Tom and Jason deposits prepared by JDS Energy and Mining, Inc. (“JDS”) with work on tailings and water by Knight Piesold Consulting, both of Vancouver, Canada utilizing the 2018 mineral resources of Table 1.

Production and Economic Highlights:

  • Long mine life and large-scale production:
  • 18-year mine life with 32.7Mt of mineralization mined at 4,900 tonne-per-day average processing rate.
  • 1.54Mt of Zinc, 0.88Mt of Lead, and 37Moz of Silver in concentrate shipped.
  • Average yearly contained-metal production of 85kt Zinc, 48kt Lead and 2Moz Silver.
  • Robust economics using metals prices of $1.21/lb Zn, $0.98/lb Pb, and $16.80/oz Ag:
  • Pre-Tax NPV at 8 percent of $779,000,000 and IRR of 32 percent.
  • After-Tax NPV at 8 percent of $448,000,000 and IRR of 24 percent.
  • Manageable CAPEX and rapid payback:
  • Pre-production CAPEX of $404,000,000. CAPEX includes a total of $100,000,000 for upgrading to a production-suitable access road to the property. On March 3, 2020 the Company announced that the Yukon Government and the Ross River Dena Council First Nation had reached an Agreement in Principle on $71,000,000 in road upgrades which, in part, included upgrading of the property access road.
  • Payback period of 4 years.
  • Starter-pits on Tom West and Jason Main zones reduce up-front capital.
  • Significant Upside
  • Numerous opportunities for significant economic improvement.
  • Known zones remain open for expansion, including into high-grade areas.
  • Highly prospective and large land package with untested exploration targets.
  • Not included in this PEA study are the Boundary Zone, Boundary West Zone, Tom North Zone and End Zone as well as new step out holes at Tom and Jason which have significant zinc-lead-silver mineralization drilled after the PEA study was completed, but not yet classified as mineral resources.

Details and supporting information are provided in the NI43-101 PEA Technical Report dated July 6, 2018 (effective date May 23, 2018) posted on the Company website, https://fireweedmetals.com, www.sedar.com, and in the Company’s news release dated May 23, 2018.

Macmillan Pass 2022 Exploration

The large 2022 drill program is underway at Macmillan Pass utilizing four drills. Three of the drills will focus on Boundary Zone and Boundary West Zone with the fourth targeting the Tom and Jason deposits. All zones remain open for expansion. By the end of the 2022 campaign, Fireweed will have four seasons of additional drill data to inform new mineral resources for the project, including inaugural resources for the Boundary, Boundary West, End Zone and Tom North zones, and updated resources for Tom West, Tom East, Tom Southeast, Jason, and Jason South zones.

Blue Sky Potential on Large Land Package

The large 940km2 Macmillan Pass property covers numerous other prospects and anomalies indicating many additional exploration targets with strong blue sky potential for new discoveries. The currently known deposits occupy but small footprints on the large property. Many of these exploration targets occur along the “Fertile Corridor” which is a long lived fault corridor that acted as a plumbing system for mineralization.

Blue Sky Potential on Large Land Package

Map showing some of the blue sky potential and exploration targets along the Fertile Corridor on the Macmillan Pass property.

Mactung Tungsten Project

Mactung property location map

Mactung property location map.

In 2022, Fireweed Metals announced its acquisition of the 37.6 km2 Mactung Project in Yukon and Northwest Territories, Canada under terms of a binding Letter of Intent purchase agreement (see Fireweed news release dated June 7, 2022 for details). The Mactung property is located immediately adjacent to its Macmillan Pass zinc-lead-silver property. Mactung is one of the largest and highest-grade tungsten deposits in the world. It is an advanced stage project with extensive historic drilling, engineering, metallurgy, geotechnical, and environmental baseline data collected by previous operators as well as a Class 4 Land Use Permit. The property lies within the traditional territories of the Kaska Dena and First Nation of Na-Cho Nyäk Dun, and the Sahtú Settlement Area.

Tungsten skarn mineralization at Mactung is mostly scheelite (CaWO4) and is dominated by calcic mineral assemblages associated with abundant pyrrhotite that developed within permeable limestone units of the Cambrian-Ordovician host rocks near the contract with a Cretaceous-age granite intrusion. Historic work by previous operators included 38,000 metres of drilling and at least 1,200 metres of underground lateral workings. Plans for 2022 include updating the historic 2007 indicated resources totaled 33.0 million tonnes grading 0.88 percent WO3 (tungsten trioxide) plus historic inferred resources of 11.8 million tonnes grading 0.78 percent WO3.

Gayna River Zinc Project

Gayna River Zinc Project

Gayna River property location map.

The Gayna River Zinc project located 180 kilometres north of the Macmillan Pass property in Northwest Territories, Canada. It is lies within the Sahtú Settlement Area, the Gwich’in Settlement Area, and the asserted territory of the First Nation of Na-Cho Nyäk Dun.

The property is host to extensive critical minerals mineralization including zinc, gallium and germanium as well as lead and silver. Mineralization occurs as veins and breccias in carbonate rocks similar to Mississippi-Valley-Type (MVT) mineralization, or Irish-type zinc-lead mineralization. Sphalerite and minor galena occur as infill within veins, vugs, and breccias along with dolomite-calcite-quartz-pyrite. Historic grab samples contain elevated concentrations of the critical metals gallium (up to 68 ppm) and germanium (up to 15.6 ppm). An extensive area of mineralization was outlined by 28,000 metres of wide-spaced, historic drilling but recent studies indicate potential for high grade massive sulphide targets not recognized by previous operators. The 2022 field program at Gayna River includes a ground gravity survey (now completed) and an airborne LiDAR topographic survey (pending) to define targets for drilling in 2023.

For more details on the Company and its projects, see Fireweed’s NI43-101 technical reports and news releases posted on the Company’s website at https://fireweedmetals.com .

Board of Directors

John Robins - Chairman and Director

Mr. Robins is a professional geologist with over 35 years of experience mainly as an independent geologist and entrepreneur. Mr. Robins has been involved in many successful exploration ventures and sat on the Boards of several successful exploration companies. Most recently he was Founder, Executive Chairman & Director of Kaminak Gold Corporation which discovered the Coffee Gold Deposits in Yukon and sold the company to Goldcorp for $520 million. In 2008 Mr. Robins was recognized for his achievements in mining exploration by the Association for Mineral Exploration British Columbia with the H.H. “Spud” Huestis Award. This is recognized as the highest award given for mineral exploration and is awarded to those who have made “a significant contribution to enhance the mineral resources of British Columbia and/or the Yukon Territory, through the original application of prospecting techniques or other geoscience technology.”

Brandon Macdonald - CEO and Director

Mr. Macdonald is a professional geologist with a diverse experience base including exploration geology worldwide and investment banking. In recent years he has focused his efforts on exploration and development as a principal of and consultant to various junior mining companies. In the past, he was in the City of London where he worked in structuring financings and risk management at Macquarie Bank. In 2007 Mr. Macdonald graduated with an MBA (with Distinction) from Oxford. He completed his B.Sc. in Geology from UBC in 2000. Mr. Macdonald has a long history of mining exploration work in Yukon, including zinc projects, he sits on the Board of Directors of the Yukon Chamber of Mines, and originally hails from Ross River, near the Macmillan Pass Project site.

Adrian Rothwell - Director and Audit Committee Chair

Mr. Rothwell (Chair) has worked in the mining industry for over 25 years with extensive experience in oversight and corporate governance roles. Mr. Rothwell is currently President, Chief Executive Officer and Director of Angold Resources Ltd. Previously he was the Director, Strategy at Goldcorp Inc., and acted as Chief Financial Officer for many companies listed on the TSXV. Mr. Rothwell is a Chartered Professional Accountant (CPA, CA) in British Columbia and a designated Chartered Accountant in Australia & New Zealand. He articled at PricewaterhouseCoopers LLP in Australia and Canada and holds a BA in Economics from Macquarie University.

George Gorzynski - Executive Vice President and Director

George Gorzynski is co-founder of the company and a geological engineer with 35 years of experience in exploration and mining company management. He has strong technical, management and leadership skills, and was a key person in the building and managing of several successful international junior mining and exploration companies. His technical experience ranges from management of large exploration projects in challenging settings to geology field work in isolated locations to oversight of mining operations. Mr. Gorzynski has geological engineering degrees from the University of Toronto (Honours) and University of British Columbia and has worked on a number of zinc projects in British Columbia and Yukon.

Peter Hemstead - Director

Mr. Hemstead has over 25 years of finance experience and has a proven track record of providing strong financial leadership. He has extensive experience in financial management, corporate finance, project finance, treasury, commercial banking, marketing/sales, financial risk management, insurance, and tax planning. Mr. Hemstead is a Chartered Professional Accountant with an Honours Economics degree from the University of Western Ontario. He is the Chief Financial Officer of Bluestone Resources Inc., since 2017, where he is a key executive in financing and moving the Cerro Blanco gold project toward production. He previously held a senior financial executive role for 10 years with Capstone Mining Corp., leading the financial team through the successful expansion from a development stage mining company to an intermediate copper producer.

Marcus Chalk - Director

Mr. Chalk has over 25 years’ experience as a leading strategic and capital markets advisor in the global metals and mining industry. Prior to founding GenCap Mining Advisory in May 2020, he spent the past 14 years leading the Vancouver mining investment banking team at Scotiabank. Prior to that, he was at Macquarie North America (Toronto and Vancouver) and CIBC Wood Gundy (Toronto, Sydney and Vancouver). He holds an Honours Business Administration and a BA in Economics from the University of Western Ontario and is a CFA Charterholder.

Management Team

Brandon Macdonald - CEO and Director

Mr. Macdonald is a professional geologist with a diverse experience base including exploration geology worldwide and investment banking. In recent years he has focused his efforts on exploration and development as a principal of and consultant to various junior mining companies. In the past, he was in the City of London where he worked in structuring financings and risk management at Macquarie Bank. In 2007 Mr. Macdonald graduated with an MBA (with Distinction) from Oxford. He completed his B.Sc. in Geology from UBC in 2000. Mr. Macdonald has a long history of mining exploration work in Yukon, including zinc projects, he sits on the Board of Directors of the Yukon Chamber of Mines, and originally hails from Ross River, near the Macmillan Pass Project site.

George Gorzynski - Executive Vice President and Director

George Gorzynski is co-founder of the company and a geological engineer with 35 years of experience in exploration and mining company management. He has strong technical, management and leadership skills, and was a key person in the building and managing of several successful international junior mining and exploration companies. His technical experience ranges from management of large exploration projects in challenging settings to geology field work in isolated locations to oversight of mining operations. Mr. Gorzynski has geological engineering degrees from the University of Toronto (Honours) and University of British Columbia and has worked on a number of zinc projects in British Columbia and Yukon.

James Scott - Senior Vice President Projects

Mr. Scott is a Professional Geologist with over eighteen years’ experience in mineral exploration and development, having worked with leading mining companies, junior exploration companies, and provincial and federal government surveys. Mr. Scott brings diverse experience in geology, studies, engineering, innovation, project management, and leadership in the advancement of projects from exploration through to acquisition and early development. For eight years Mr. Scott was the technical lead on Kaminak’s Coffee Project leading up to and following acquisition by Goldcorp Inc. for $520M. Previously, he had led the resource definition program for Richfield’s Blackwater Davidson project which led to its acquisition the following year by New Gold Inc. for $550M. Mr. Scott holds an M.Sc. from the University of Alberta and a B.Sc. from Carleton University.

Pamela O’Hara - Vice President, Sustainability

Ms. O’Hara is a Registered Professional Biologist with a unique blend of professional experience plus academic training. She has extensive and proven experience in acquiring approvals for complex mining and transportation infrastructure projects and understands the complex environmental and regulatory landscape. In the Yukon in recent years, she has been involved in the preparation of the Goldcorp/Coffee Mine (Yukon) YESAB project proposal and completed mine closure assessments for Yukon Energy, Mines and Resources. From 2005 to 2012, she was VP Environment & Community Affairs for Yukon Zinc/Wolverine Mine (Yukon), overseeing the successful implementation of the socioeconomic participation agreement with Kaska First Nations and obtaining project approvals for mine construction and operation. Ms. O’Hara believes that authentic, mutually respectful connections among people, as well as working towards shared common goals, are essential to achieving a sustainable future.

Gilles Dessureau - Vice President Exploration

Mr. Dessureau is a Professional Geologist with over 20 years of exploration and development experience in Canada, focusing on the Western Cordillera including Yukon and British Columbia along with other locations throughout North America including Nevada, Ontario and Quebec. He is the Owner/Principal Geologist of Solidus Geological Services and has been providing geological and project management services to the industry since 2007. Since joining the Fireweed Team in 2018, he has been focused on advancing the Macmillan Pass project through exploration towards development. Previously, Mr. Dessureau was instrumental in advancing the Wolverine polymetallic VMS deposit, located in the Yukon, through pre-feasibility and into commercial production beginning in 2010, and was involved with advancing Golden Predator’s Brewery Creek and 3 Aces deposits. Mr. Dessureau graduated with a Master’s degree from Laurentian University in Sudbury following a Bachelor’s degree in Geology from St. Mary’s University in Halifax. He is a Professional Geologist registered with Engineers and Geoscientists British Columbia (EGBC) and the Association of Professional Geologists of Ontario (APGO).

Cindy Chiang - Chief Financial Officer

Ms. Chiang is a Chartered Professional Accountant with experience in both public practice and industry since she became a Chartered Accountant in 2009. During her time in public practice at KPMG, Cindy led audit engagement team. Ms. Chiang is a Chartered Professional Accountant (CPA) with experience in both public practice and industry since she became a Chartered Accountant in 2009. During her time in public practice at KPMG, Cindy led audit engagement teams domestically and abroad, and is knowledgeable of Canadian and US accounting standards as well as IFRS. In industry, Ms. Chiang dealt with financial accounting and internal controls matters.

Jeffrey Dare - Corporate Secretary

Mr. Dare is a compliance professional with over 14 years of experience advising companies on internal / external reporting and during this time has built an extensive network within the areas of legal, banking, audit, insurance, and transfer agency. He has also assisted in raising upwards of $220M in equity capital for growth companies. Currently, Mr. Dare holds several Senior Officer positions with a number of TSX-V and CSE Listed Issuers.

*Disclaimer: This profile is sponsored by Fireweed Metals ( TSXV:FWZ ). This profile provides information which was sourced by the Investing News Network (INN) and approved by Fireweed Metals in order to help investors learn more about the company. Fireweed Metals is a client of INN. The company's campaign fees pay for INN to create and update this profile.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Fireweed Metals and seek advice from a qualified investment advisor.

Fireweed Metals

Fireweed Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

×