According to Fireweed Zinc CEO Brandon Macdonald (TSXV:FWZ), the newly released resource estimate for the Macmillan Pass zinc-lead–silver project outlines an inferred and indicated resource almost twice the size of the 2007 resource.
Moving forward, says Macdonald, the company anticipates developing the resource further over the course of a summer 2018 drilling program. In the meantime, Fireweed will use the 2018 estimate to develop a preliminary economic assessment (PEA) for the project.
Below is our video with Fireweed Zinc CEO Brandon Macdonald as well as the transcript. It has been edited for clarity and brevity.
Investing News Network: Please give our investor audience an overview of Fireweed Zinc and its flagship property, the Macmillan Pass project in the Yukon.
Fireweed Zinc CEO Brandon Macdonald: Fireweed Zinc was formed in late 2016 and then went public in 2017, having acquired the Macmillan Pass project in the Yukon Territory. The Macmillan Pass project hosts sedimentary exhalative (SEDEX) zinc-lead-silver deposits and is one of the largest undeveloped zinc projects in the world.
INN: How does the Yukon compare to other zinc-mining jurisdictions?
BM: Yukon is quite famous as a zinc-mining jurisdiction. The Faro Anvil District, for instance, was a very productive zinc region for quite some time. More recently, the Wolverine zinc mine operated there, as well as BMC Minerals’ Kudz Ze Kayah zinc deposit. The world-famous Howard’s Pass region is also in the Yukon. A lot of these areas host SEDEX-style deposits, including the Selwyn Basin, which stretches across our region of the territory.
INN: Please tell us about your 2017 drilling campaign on the Macmillan Pass project.
BM: 2017 was a busy year for us. There was a 2,200-meter drill program and a regional exploration program, which included geochemistry and geophysics. The drilling served to expand upon work that was done in 2011 and additional historical drilling. With these new results, we were able to work towards developing the resource update, which we recently released.
INN: How did drilling in 2011 and 2017 influence this new mineral resource?
BM: Our 2018 updated resource estimate was significantly larger than the historic 2007 estimate. The increase resulted in part from the additional 25 holes drilled since 2007, which served to expand the mineralized horizon both in thickness and along strike. Additionally, the reinterpretation of density and past work allowed us to expand that mineralized envelope. As a result, we saw sizeable growth in a resource that was 6.5 million tonnes indicated and 24.5 million tonnes inferred, to 11 million tonnes indicated and 39 million tonnes inferred.
INN: What is next for Macmillan Pass and how does that fit into Fireweed’s long-term plans?
BM: Fireweed’s next step will be to develop the PEA for the Macmillan Pass project. This will use our updated resource estimate and build it into a mine plan upon which we can build economics. With this, investors will be able to understand what the economics of the project might look like. Those economics will guide our summer 2018 drill program as we upgrade the existing resource to understand the direction in which we should expand the resource.
This year we will also be planning additional greenfield exploration on our large, prospective land package so that we can demonstrate its significant blue-sky potential.
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