Fireweed 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

Fireweed 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

Fireweed Metals CORP. ("Fireweed" or the "Company") (TSXV: FWZ; OTCQB: FWEDF; FSE: M0G) is pleased to report the final results from the 2023 Boundary Zone drilling campaign at its Macmillan Pass ("Macpass") Project, Yukon, Canada.

Highlights

  • Hole NB23-036 intersected 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.
  • Hole NB23-037 intersected 118.36 m of 11.58% zinc, 1.75% lead and 54.9 g/t silver (47 m true width) including 27.63 m of 19.06% zinc, 0.74% lead and 58.2 g/t silver.
  • Assays are pending for 11 holes from the Tom deposit, and two holes from the Jason deposit.

CEO Statement

Brandon Macdonald, CEO, stated, "2023 was a pivotal year at Boundary Zone in which we discovered a high-grade feeder system that connects the mineralization and forms a continuous zone with increasing grade and true widths at depth. These final results exemplify the spectacular grades that we see at this best-in-class project, with holes from this year containing not just the feeder zone, but also the vein mineralization halo around it that contains some remarkably high-grade breccias. These final holes from the 2023 season solidify Boundary Zone as a significant addition to the Macpass project, and with a few holes still pending from Tom and Jason, we are looking forward to integrating all results into a mineral resource estimate in the coming months to begin to understand the enormity of the mineral endowment within this premier zinc district."

Summary

The mineralization from drill holes in this release primarily comprises stratiform (layer-parallel) and massive (>50% sulphides) sulphides in the western and central areas of Boundary Zone. This mineralization is sub-vertical with sharp margins, occurring from near-surface to at least a depth of 450 m and across a strike length of 550 m. We also report intersections of vein and breccia mineralization that occur on both sides of the tabular stratiform sulphide zones. The intersection in holes NB23-036 and NB23-037 continue to demonstrate high zinc, lead, and silver grades that are interpreted as forming from higher temperature fluids in association with a feeder zone supplying metals to a mineralized system.

Results

The drill holes in this release are located in the central and western areas of Boundary Zone and targeted the stratiform to massive sulphide body with a focus on stepping out from known feeder-style mineralization. Holes NB23-036 and NB23-037 intersected broad, high-grade intervals of massive sulphides rich in zinc, lead, and silver that are correlated with this interpreted feeder zone. Stratiform massive sulphides were also intersected in NB23-034 and NB23-038. Breccia and vein mineralization was intersected in NB23-033, NB23-034, NB23-035 and NB23-036, NB23-037 and NB23-038.

Table 1: Assay highlights for holes included within this release for the 2023 drilling program, Boundary Zone

Drillhole Interval From (m) To (m) Interval Width (m) Est. True Width (m) Zinc (%) Lead (%) Silver (g/t) Bulk Density (t/m 3 )
NB23-034 Primary 426.78 479.78 53.00 21 12.07 1.05 53.6 4.05
NB23-034 Including 436.87 472.38 35.51 14 15.61 0.92 57.0 4.07
NB23-035 Primary 396.96 417.18 20.22 Unknown 6.51 1.15 51.5 3.54
NB23-036 Primary 95.50 171.32 75.82 N/A 4.21 0.25 9.9 2.87
NB23-036 Including 108.87 121.5 12.63 N/A 6.97 0.32 16.6 3.10
NB23-036 >Including 108.87 112.56 3.69 N/A 14.41 0.08 17.4 3.23
NB23-036 Including 156.00 171.32 15.32 N/A 7.31 0.90 19.1 2.87
NB23-036 Primary 210.33 255.55 45.22 44 18.98 2.24 114.9 4.13
NB23-036 Including 235.64 243.74 8.10 7.9 28.90 4.75 142.2 3.95
NB23-036 Primary 304.06 381.99 77.93 N/A 2.58 0.31 9.8 3.25
NB23-036 Including 328.18 334.21 6.03 N/A 5.37 0.08 7.1 3.25
NB23-037 Primary 352.74 471.1 118.36 47 11.58 1.75 54.9 3.81
NB23-037 >Including 353.71 360.34 6.63 2.6 15.89 3.39 158.7 4.40
NB23-037 >Including 405.68 433.31 27.63 11 19.06 0.74 58.2 3.78

N/A: Not Applicable due to the variable shapes of breccia and vein mineralization.

See "Data Verification" for a description of true width calculations

Fireweed successfully intersected extensive pyrite-sphalerite-galena as stratiform massive sulphides, laminated mineralization, veins, and breccias in the 2023 step-outs (Photos 1 to 3). Mineralization has been intersected in every step-out hole that has been completed to depth. Assays have now been received for all 2023 Boundary Zone holes (Tables 1 and 2). Summaries for new drill results reported in this news release are as follows:

  • Hole NB23-036 intersected 45.22 m (estimated true width of 44 m) of laminated and massive sulphides grading 18.98% zinc, 2.24% lead, and 114.9 g/t silver, a near surface interval of breccia and vein mineralization 75.82 m in width grading 4.21% zinc, 0.25% lead and 9.9 g/t silver and another interval of breccia and vein mineralization 77.93 m in width grading 2.58% zinc, 0.31% lead and 9.8 g/t silver.
  • Hole NB23-037 intersected 118.36 m (estimated true width of 47 m) of laminated and massive sulphides grading 11.58% zinc, 1.75% lead and 54.9 g/t silver, as well as two near surface intervals of breccia and vein mineralization 11.57 m in width grading 8.05% zinc and 14.6 g/t silver and 2.95 m in width grading 10.20% zinc and 14.8 g/t silver.
  • Hole NB23-034 intersected 53.00 m (estimated true width of 21 m) of laminated and massive sulphides grading 12.07% zinc, 1.05% lead and 53.6 g/t silver, and also an interval of breccia and vein mineralization 25.96 m in width grading 3.97% zinc and 8.9 g/t silver.
  • Hole NB23-035 intersected 20.22 m of stratiform and massive sulphide with an unknown true width grading 6.51% zinc, 1.15% lead and 51.5 g/t silver as well as three near surface intervals of breccia and vein mineralization: 5.17 m grading 17.81% zinc and 19.1 g/t silver; 6.36 m grading 5.94% zinc, 0.15% lead and 9.8 g/t silver; and 6.45 m grading 3.00% zinc and 4.2 g/t silver.
  • Hole NB23-038 intersected 12.91 m (estimated true width of 9.0 m) of stratiform and massive sulphide grading 5.00% zinc, 0.97% lead and 44.4 g/t silver, and an interval of breccia and vein mineralization 23.16 m in width grading 2.04% zinc and 7.8 g/t silver.
  • Hole NB23-033 intersected three intervals of breccia and vein mineralization: 4.76 m grading 12.10% zinc, 0.61% lead and 27.2 g/t silver; 8.76 m grading 3.05% zinc and 5.9 g/t silver; and 6.58 m grading 5.55% zinc and 5.8 g/t silver.

See Tables 1 to 4, Long Section M–M', Cross Sections C–C', K–K', N–N', R–R', S–S' and Maps 2 and 3 below for further details.

Out of the 39 holes that were successfully completed to depth at Boundary Zone in 2023, only 3 were infill holes; the remaining 36 were step-out holes that tested the vein and breccia mineralization, laminated stratiform mineralization, and massive sulphide zones. The geometry and stratigraphic sequence intersected in these holes continue to support the idea that the laminated and massive sulphide mineralization are part of the same geological layer at Boundary Zone, forming an approximately tabular stratiform zone. Step out drilling down-dip intersected abundant galena, supporting the presence of the conceptual feeder zone at least 220 m in strike. The mineralization in the massive stratiform layer extends from surface to at least 450 m down-dip, over 550 m in strike with a variable true thickness that is shown on Long Section M–‍M', thinning around the edges and reaching thicknesses of up to 50 m at its widest point. The zone remains open for extension.

Extensive vein and breccia mineralization at Boundary Zone occurs both stratigraphically above and below the main stratiform laminated massive sulphide zone. This mineralization forms within a halo approximately 100 m to 150 m wide on both sides of the stratiform laminated zone and is interpreted as a stockwork of randomly oriented veins and breccia zones. Many wide intervals of vein and breccia style sphalerite mineralization have been encountered in 2023 step-out holes and four infill holes (Table 3).

2023 Drill Program

The 2023 program achieved 22,500 m of drilling mostly focused on Boundary, Tom, and Jason zones in addition to five metallurgical drill holes at Mactung (Map 1). Use of directional drilling, in which multiple secondary drill holes are initiated at depth from one primary hole, saved an estimated 1,800 m of drilling compared to traditional drilling of multiple new holes from surface for a total equivalent metreage of 24,300 m in 2023. This was Fireweed's largest ever program and the biggest drill program in Yukon in 2023.

About Fireweed Metals Corp. (TSXV: FWZ; OTCQB: FWEDF; FSE:M0G): Fireweed Metals is a public mineral exploration company on the leading edge of Critical Minerals project development. Fireweed is well-funded, with a healthy balance sheet, and has three projects located in Canada:

  • Macpass Project (Zinc-Lead-Silver) : Fireweed owns 100% of the district-scale 940 km 2 Macmillan Pass ("Macpass") Project in Yukon, Canada, which is host to one of Earth's largest undeveloped resources of zinc*, a Critical Mineral. The Tom and Jason zinc-lead-silver deposits have current Mineral Resources 1 (11.21 Mt Indicated Resource at 6.59% zinc, 2.48% lead, and 21.33 g/t silver; and 39.47 Mt Inferred Resource at 5.84% zinc, 3.14% lead, and 38.15 g/t silver) and a Preliminary Economic Assessment 2 (PEA). In addition, Boundary Zone, Tom North and End Zone have significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources. The Project also includes large blocks of adjacent claims with known showings and significant upside exploration potential.
  • Mactung Project (Tungsten) : The Company owns 100% interest in the 37.6 km 2 Mactung Project located adjacent to the Macpass Project. Recently announced mineral resources for Mactung (41.5 Mt Indicated Resource at 0.73% WO 3 and 12.2 Mt Inferred Resource at 0.59% WO 3 ) 3 make it the world's largest high-grade resource of the Critical Mineral tungsten*. Located in Canada, it is one of the rare large tungsten resources outside of China*.
  • Gayna Project (Zinc-Lead-Gallium-Germanium) : Fireweed owns 100% of the 128.75 km 2 Gayna Project located 180 km north of the Macpass Project. It is host to extensive mineralization including Critical Minerals zinc, gallium and germanium as well as lead and silver, outlined by 28,000 m of historical drilling. A recent reevaluation of the geology indicates the potential for high-grade Kipushi-style massive sulphide mineralization.

Qualified Person Statement

Technical information in this news release has been approved by Fireweed's VP Geology, Dr. Jack Milton, P.Geo. (BC), a ‘Qualified Person' as defined under Canadian National Instrument 43-101.

In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF) trades on the OTCQB Venture Market ( www.otcmarkets.com ) and is DTC eligible for enhanced electronic clearing and settlement. In Europe, Fireweed (FSE: M0G) trades on the Frankfurt Stock Exchange.

Additional information about Fireweed and its projects can be found on the Company's website at FireweedMetals.com and at www.sedarplus.com

ON BEHALF OF Fireweed Metals CORP.

" Brandon Macdonald "

CEO & Director

Contact: Brandon Macdonald
Phone: (604) 646-8361
Email: info@fireweedmetals.com

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.

Data Verification

The diamond drill core logging and sampling program was carried out under a rigorous quality assurance / quality control program using industry best practices. Drill intersections in this release are NQ2 size core (50.5 mm/ 1.99-inch diameter) with recoveries typically above 85% unless otherwise noted in the results tables. After drilling, core was cleaned, logged for geology, structure, and geotechnical characteristics, then marked for sampling and photographed on site. Certain cores were selected for core scanning. The cores for analyses were marked for sampling based on geological intervals with individual samples 2 m or less in length, with 1 m samples within mineralized zones. Drill core was cut lengthwise in half with a core saw; half-core was sent for assays reported in this news release, and the other half is stored on site for reference. Bulk density was determined on site for the entire length of each assay sample by measurement of mass in air and mass in water. Sample duplicate bulk density determinations and in-house bulk density standard determinations were each made at a rate of 5%. Since 2017, four in-house bulk density standards (mineralized drill core from the Tom deposit that span a range of densities) have been used and show an acceptable long-term precision. Certified standard masses are used to calibrate the scale balance used for bulk density determinations.

A total of 5% assay standards or blanks and 5% core duplicates are included in the sample stream as a quality control measure and are reviewed after analyses are received. Standards and blanks in 2023 drill results to date have been approved as acceptable. Duplicate data add to the long-term estimates of precision for assay data on the project and precision for drill results reported is deemed to be within acceptable levels. Samples were sent to the Bureau Veritas (BV) preparation laboratory in Whitehorse, Yukon, where the samples were crushed and a 500 g split was sent to the BV laboratory in Vancouver, B.C to be pulverized to 85% passing 200 mesh size pulps. Clean crush material was passed through the crusher and clean silica was pulverized between each sample. The pulps were analyzed by 1:1:1 Aqua Regia digestion followed by Inductively Coupled Plasma Mass Spectrometry (ICP-ES/ICP-MS) multi-element analyses (BV Code AQ270). All samples were also analyzed for multiple elements by lithium borate fusion and X-ray fluorescence analysis (XRF) finish (BV Code LF725). Over-limit lead (>25.0%) and zinc (>24.0%) were analyzed by lithium borate fusion with XRF finish (BV Code LF726). For BV samples, silver is reported in this news release by method AQ270, and zinc and lead are reported by LF725 or LF726. Bureau Veritas (Vancouver) is an independent, international ISO/IEC 17025:2017 accredited laboratory.

Assay values may appear rounded to one decimal place but are given in full in Table 1, Table 2, and Cross Sections where zinc and lead grades are reported to two decimal places.

Results in this news release are length and bulk-density weighted averages as would be used in a Mineral Resource estimate. Length and bulk-density weighted averages have been reported as these most accurately represent the average metal-content of the intersections.

True widths for primary intervals are estimated by measuring perpendicular to strike within the short axis of a stratiform wireframe that has been constructed in 3D around the mineralized intercepts at Boundary Zone based on assay results, geological logging, stratigraphic correlation, and bedding measurements from oriented core. The massive sulphide mineralization and laminated mineralization at Boundary Zone are mostly stratiform (oriented parallel to bedding), therefore the true width, or thickness, of the zone is estimated perpendicular to both the strike and dip direction of bedding. Vein and breccia mineralization at Boundary Zone are interpreted to be stockworks with variable shapes and true widths cannot be accurately estimated, therefore only intersected widths are reported, and true widths are marked as N/A in the assay tables. True widths are rounded to the nearest metre for widths over 10 m and to the nearest 0.1 m for widths less than 10 m, as this better reflects the precision of the estimates. True widths should be regarded as approximate as these are derived from an estimation that uses a preliminary interpretation of the geological model. True widths for nested intervals (marked as "Including" in results tables) are estimated using a ratio of included to primary intersected widths to attribute appropriate portions of the true width of the primary interval to the nested intervals.

Cautionary Statements

Forward Looking Statements

This news release contains "forward-looking" statements and information ("forward-looking statements"). All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to interpretation of drill results and projections of mineralization, future work plans, the use of funds, and the potential of the Company's projects, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to, exploration and development risks, unanticipated reclamation expenses, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company's operati ons, 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, uncertainties involved in the interpretation of drilling results and laboratory tests, and one-time events. The Company assumes no obligation to update forward looking statements or beliefs, opinions, projections or other factors, except as required by law.

Footnotes and References

* References to relative size and grade of the Mactung resources and Macpass resources in comparison to other tungsten and zinc deposits elsewhere in the world, respectively, are based on review of the Standard & Poor's Global Market Intelligence Capital IQ database.

1 : For details, see https://www.sedarplus.ca/ Fireweed Technical Report titled "NI 43-101 Technical Report on the Macmillan Pass Zinc-Lead-Silver Project, Watson Lake and Mayo Mining Districts Yukon Territory, Canada" filed on https://www.sedarplus.ca/ on February 23, 2018, and Fireweed News Release dated January 10, 2018. .

2 : For details, see https://www.sedarplus.ca/ Fireweed Technical Report titled "NI 43-101 Technical Report Macmillan Pass Project Yukon Territory Canada" filed on https://www.sedarplus.ca/ on July 9, 2018, and Fireweed News Release dated May 23, 2018. This Technical Report includes a Preliminary Economic Analysis disclosing an economic analysis of mineral resources that is preliminary in nature and does not include any mineral reserves. It is equally emphasized that the mineral resources disclosed within this Technical Report are not mineral reserves and do not have demonstrated economic viability.

3 : For details, see Fireweed news release dated June 13, 2023 "Fireweed Metals Announces Mineral Resources for the Mactung Project: the Largest High-Grade Tungsten Deposit in the World" and the technical report entitled "NI 43-101 Technical Report, Mactung Project, Yukon Territory, Canada," with effective date July 28, 2023 filed on https://www.sedarplus.ca/


Picture1

Map 1: Macpass Project and Mactung Project locations

Picture2

Map 2 : Location of 2023 Boundary Zone drillholes, cross sections and long section M–M'. See below for sections.

Picture3

Map 3 : Mineralized intervals in 2023 drilling and pre-2023 drilling defining a stratiform laminated to massive sulphide zone that is connected at depth (purple polygon) and a broader envelope of vein, breccia, and other stratiform zinc mineralization, showing significant areal extent (within green dashed line).

Picture4

Long Section M–M' – Estimated true thickness interpretation and selected intersections with zinc grades shown within the laminated to massive sulphide stratiform zone of pyrite-sphalerite-galena mineralization at Boundary Zone. Halo vein and breccia mineralization is not included in this long section.

Picture5

Cross Section C–C' — Including analytical results for hole NB23-033.

Picture6

Cross Section K–K' — Including analytical results for hole NB23-035 and NB23-037

Picture7

Cross Section N–N' — Including analytical results for hole NB23-036.

Picture8

Cross Section R–R' — Including analytical results from Holes NB23-038

Picture9

Cross Section S–S' — Including analytical results from Hole NB23-034

Photo 1: High resolution core scanning image of stratiform and massive to semi-massive sulphide mineralization in NB23-036 (239.6 m to 249.2 m)

Photo 2: High resolution core scanning image stratiform and massive to semi-massive sulphide mineralization in NB23-037 (412.1 m to 422.1 m)

Photo 3: High resolution core scanning image of sphalerite-pyrite-siderite vein mineralization in NB23-037 (235.1 m to 244.9 m)


Table 2: NB23-033, NB23-034, NB23-035, NB23-036, NB23-037, NB23-038 drill results

Drillhole Interval From (m) To (m) Interval Width (m) Est. True Width (m) Zinc (%) Lead (%) Silver (g/t) Bulk Density (t/m 3 )
NB23-033 Entire Hole 0 681 681 N/A 0.37 0.06 2.7 2.87
NB23-033 Primary 77.24 82 4.76 N/A 12.10 0.61 27.2 3.10
NB23-033 Including 77.24 81.16 3.92 N/A 14.25 0.49 29.3 3.19
NB23-033 >Including 77.24 81.16 3.92 N/A 14.25 0.49 29.3 3.19
NB23-033 Primary 277.36 286.12 8.76 N/A 3.05 0.01 5.9 2.76
NB23-033 Primary 635.50 642.08 6.58 N/A 5.55 0.02 5.8 3.22
NB23-034 Entire Hole 0 580.00 580.00 N/A 1.82 0.16 9.4 3.01
NB23-034 Primary 426.78 479.78 53.00 21 12.07 1.05 53.6 4.05
NB23-034 Including 432.41 478.78 46.37 18 13.28 1.12 57.3 4.12
NB23-034 >Including 435.41 475.38 39.97 16 14.76 1.10 59.5 4.11
NB23-034 >>Including 436.87 472.38 35.51 14 15.61 0.92 57.0 4.07
NB23-034 Primary 550.29 576.25 25.96 N/A 3.97 0.05 8.9 3.53
NB23-034 Including 550.29 554.55 4.26 N/A 10.00 0.09 20.0 4.19
NB23-035 Entire Hole 0 552.28 552.28 N/A 0.68 0.07 4.3 2.87
NB23-035 Primary 76.12 81.29 5.17 N/A 17.81 0.07 19.1 3.19
NB23-035 Primary 276.00 282.36 6.36 N/A 5.94 0.15 9.8 2.93
NB23-035 Primary 342.67 349.12 6.45 N/A 3.00 0.01 4.2 2.79
NB23-035 Primary 396.96 417.18 20.22 Unknown 6.51 1.15 51.5 3.54
NB23-036 Entire Hole 0 397.20 397.20 N/A 4.40 0.47 22.9 3.12
NB23-036 Primary 95.50 171.32 75.82 N/A 4.21 0.25 9.9 2.87
NB23-036 Including 108.87 121.5 12.63 N/A 6.97 0.32 16.6 3.10
NB23-036 >Including 108.87 112.56 3.69 N/A 14.41 0.08 17.4 3.23
NB23-036 Including 156.00 171.32 15.32 N/A 7.31 0.90 19.1 2.87
NB23-036 Primary 210.33 255.55 45.22 44 18.98 2.24 114.9 4.13
NB23-036 Including 211.33 255.55 44.22 43 19.35 2.28 115.5 4.12
NB23-036 >Including 216.33 255.55 39.22 38 20.84 2.48 115.4 4.05
NB23-036 >>Including 235.64 243.74 8.10 7.9 28.90 4.75 142.2 3.95
NB23-036 Primary 304.06 381.99 77.93 N/A 2.58 0.31 9.8 3.25
NB23-036 Including 328.18 334.21 6.03 N/A 5.37 0.08 7.1 3.25
NB23-036 Including 365.85 381.99 16.14 N/A 3.52 0.81 15.3 3.34
NB23-037 Entire Hole 0 544 544 N/A 3.46 0.49 17.2 3.09
NB23-037 Primary 70.05 73.00 2.95 N/A 10.20 0.09 14.8 3.14
NB23-037 Primary 235.73 247.30 11.57 N/A 8.05 0.03 14.6 2.89
NB23-037 Including 235.73 242.30 6.57 N/A 11.38 0.05 21.3 2.94
NB23-037 >Including* 237.61 242.30 4.69 N/A 13.93 0.06 24.8 2.98
NB23-037 Primary 352.74 471.10 118.36 47 11.58 1.75 54.9 3.81
NB23-037 Including 353.71 463.47 109.76 44 12.05 1.76 55.4 3.87
NB23-037 >Including 353.71 360.34 6.63 2.6 15.89 3.39 158.7 4.40
NB23-037 >Including 405.68 433.31 27.63 11 19.06 0.74 58.2 3.78
NB23-038 Entire Hole 0 426.5 426.5 N/A 0.52 0.07 5.9 2.97
NB23-038 Primary 299.38 312.29 12.91 9.0 5.00 0.97 44.4 4.06
NB23-038 Including 299.38 304.20 4.82 3.4 10.87 2.33 78.9 4.12
NB23-038 >Including 299.38 301.32 1.94 1.4 17.89 5.12 156.4 4.37
NB23-038 Primary 367.00 390.16 23.16 N/A 2.04 0.09 7.8 3.74

* Denotes intervals with recovery of less than 85%; N/A: Not Applicable due to the variable shapes of breccia and vein mineralization.

† Entire hole intervals contain large continuous sections of very low grade or not mineralized material (below 2% zinc)—intersections of continuous higher-grade material (>2% zinc) are listed as Primary and Included intervals and represent mineralized material.

‡ See "Data Verification" for a description of true width calculations


Table 3: 2023 Drilling Summary

Drillhole Length (m) Zone Significant Intersection Type
NB23-001 460 Boundary Results disclosed Jul 26 2023 Step Out
NB23-002 351 Boundary Results disclosed Jul 26 2023 Step Out
NB23-003 418 Boundary Results disclosed Jul 26 2023 Step Out
NB23-004 432 Boundary Results disclosed Aug 22 2023 Step Out
NB23-005 234 Boundary Results disclosed Aug 22 2023 Step Out
NB23-006 373 Boundary Results disclosed Aug 22 2023 Step Out
NB23-007 461 Boundary Results disclosed Aug 22 2023 Step Out
NB23-008 385 Boundary Results disclosed Aug 22 2023 Step Out
NB23-009 67 Boundary Hole abandoned and redrilled as NB23-011 Step Out
NB23-010 96 Boundary Results disclosed Oct 24 2023 Step Out
NB23-011 289 Boundary Results disclosed Oct 24 2023 Step Out
NB23-012 452 Boundary Results disclosed Oct 24 2023 Step Out
NB23-013 551 Boundary Results disclosed Oct 24 2023 Step Out
NB23-014 223 Boundary Results disclosed Oct 24 2023 Step Out
NB23-015 339 Boundary Results disclosed Oct 24 2023 Step Out
NB23-016 460 Boundary Results disclosed Oct 24 2023 Step Out
NB23-017 96 Boundary Results disclosed Nov 30 2023 Step Out
NB23-018 195 Boundary Results disclosed Nov 30 2023 Step Out
NB23-019 560 Boundary Results disclosed Nov 30 2023 Step Out
NB23-020 414 Boundary Results disclosed Nov 30 2023 Step Out
NB23-021 442 Boundary Results disclosed Nov 30 2023 Infill
NB23-022 386 Boundary Results disclosed Jan 9 2024 Step Out
NB23-022D1 448 Boundary Results disclosed Jan 9 2024 Step Out
NB23-023 181 Boundary Results disclosed Nov 30 2023 Step Out
NB23-024 402 Boundary Results disclosed Nov 30 2023 Infill
NB23-025 580 Boundary Results disclosed Nov 30 2023 Step Out
NB23-026 111 Boundary Results disclosed Nov 30 2023 Step Out
NB23-027 396 Boundary Results disclosed Nov 30 2023 Infill
NB23-028 477 Boundary Results disclosed Jan 9 2024 Step Out
NB23-029 640 Boundary Results disclosed Jan 9 2024 Step Out
NB23-029D1 689 Boundary Results disclosed Jan 9 2024 Step Out
NB23-030 526 Boundary Results disclosed Nov 30 2023 Step Out
NB23-031 574 Boundary Results disclosed Jan 9 2024 Step Out
NB23-032 495 Boundary Results disclosed Jan 9 2024 Step Out
NB23-033 681 Boundary Results disclosed in this release Step Out
NB23-034 580 Boundary Results disclosed in this release Step Out
NB23-035 552 Boundary Results disclosed in this release Step Out
NB23-036 397 Boundary Results disclosed in this release Step Out
NB23-037 544 Boundary Results disclosed in this release Step Out
NB23-038 427 Boundary Results disclosed in this release Step Out
TS23-001 143 Tom North Minor Mineralization Encountered Step Out
TS23-002 182 Tom North Minor Mineralization Encountered Step Out
TS23-003 299 Tom West Wide Zone Encountered Step Out
TS23-004 369 Tom West Moderate Zone Encountered Step Out
TS23-005 407 Tom West Moderate Zone Encountered Step Out
TS23-006 137 Tom West Moderate Zone Encountered Step Out
TS23-007 215 Tom West Moderate Zone Encountered Step Out
TS23-008 428 Tom West Moderate Zone Encountered Step Out
TS23-009 749 Tom South Wide Zone Encountered Step Out
TS23-009D1 747 Tom South Wide Zone Encountered Redrill
TS23-009D2 821 Tom South Wide Zone Encountered Step Out
JS23-001 631 Jason South Narrow Zone Encountered Step Out
JS23-001D1 665 Jason South Wide Zone Encountered Step Out
BX23-001 219 Boundary South No significant mineralization Exploration
BX23-002 144 Boundary South No significant mineralization Exploration
KB23-001 368 Kobuk No significant mineralization Exploration
KB23-002 284 Kobuk No significant mineralization Exploration


Table 4: Drill Hole Collar Information

Drillhole Zone Length (m) Easting Northing Elevation (m.s.l) Azimuth (°) Dip (°)
NB23-001 Boundary 460 422297 7010471 1185.86 211.99 -76.42
NB23-002 Boundary 351 422235 7010525 1194.57 214.06 -70.22
NB23-003 Boundary 418 422235 7010525 1194.57 213.40 -78.00
NB23-004 Boundary 432 422171 7010556 1203.00 213.91 -78.08
NB23-005 Boundary 234 422058 7010589 1207.95 199.63 -49.74
NB23-006 Boundary 373 422171 7010556 1203.00 215.44 -70.02
NB23-007 Boundary 461 422058 7010589 1207.95 206.37 -86.43
NB23-008 Boundary 385 422171 7010556 1203.00 215.83 -60.07
NB23-009 Boundary 67 422058 7010589 1208.67 198.54 -75.41
NB23-010 Boundary 96 422241 7010385 1150.41 212.28 -45.00
NB23-011 Boundary 289 422058 7010589 1208.67 201.59 -75.40
NB23-012 Boundary 452 422289 7010534 1200.90 211.75 -69.90
NB23-013 Boundary 551 422072 7010666 1233.59 214.94 -77.68
NB23-014 Boundary 223 422241 7010384 1150.86 213.68 -70.83
NB23-015 Boundary 339 422241 7010385 1150.41 213.36 -84.00
NB23-016 Boundary 461 422274 7010600 1216. 70 209.88 -72.96
NB23-017 Boundary 96 422279 7010359 1142.67 191.27 -46.90
NB23-018 Boundary 195 422279 7010359 1142.67 190.21 -65.21
NB23-019 Boundary 561 422289 7010534 1200.90 209.95 -81.31
NB23-020 Boundary 414 422465 7010510 1191.44 204.85 -63.35
NB23-021 Boundary 442 422391 7010500 1190.07 201.97 -77.01
NB23-022 Boundary 386 421948 7010672 1232.44 178.85 -74.18
NB23-022D1 Boundary 448 421948 7010672 1232.44 177.78 -74.00
NB23-023 Boundary 181 422449 7010351 1145.42 211.82 -49.18
NB23-024 Boundary 405 422348 7010550 1203.82 199.65 -50.18
NB23-025 Boundary 582 422343 7010620 1219.03 196.94 -74.05
NB23-026 Boundary 111 422449 7010351 1145.42 210.02 -65.44
NB23-027 Boundary 451 422348 7010550 1203.82 197.18 -72.46
NB23-028 Boundary 467 422222 7010587 1209.75 211.38 -65.44
NB23-029 Boundary 630 422124 7010731 1250.31 196.21 -75.67
NB23-029D1 Boundary 690 422124 7010731 1250.31 196.21 -75.67
NB23-030 Boundary 526 422535 7010614 1214.65 211.44 -62.01
NB23-031 Boundary 574 422329 7010671 1235.88 207.69 -69.87
NB23-032 Boundary 493 422165 7010640 1224.09 210.08 -62.01
NB23-033 Boundary 681 422228 7010663 1233.01 211.31 -73.88
NB23-034 Boundary 580 422138 7010674 1237.24 199.07 -72.40
NB23-035 Boundary 552 422228 7010663 1232.97 199.00 -72.02
NB23-036 Boundary 398 422289 7010534 1200.89 212.26 -59.46
NB23-037 Boundary 544 422228 7010663 1232.94 204.73 -66.10
NB23-038 Boundary 427 422001 7010675 1233.60 179.75 -68.10
TS23-001 Tom North 143 441761 7004226 1492.16 075.08 -49.66
TS23-002 Tom North 182 441761 7004226 1492.16 074.97 -80.38
TS23-003 Tom West 299 441676 7004024 1445.00 074.17 -68.51
TS23-004 Tom West 369 441694 7003884 1463.34 067.38 -71.48
TS23-005 Tom West 407 441761 7003770 1510.00 063.25 -75.35
TS23-006 Tom West 137 441779 7004076 1485.36 065.15 -50.08
TS23-007 Tom West 215 441779 7004076 1485.36 065.23 -78.04
TS23-008 Tom West 428 441816 7003717 1538.00 089.53 -88.95
TS23-009 Tom South 749 442363 7003106 1747.29 351.97 -82.00
TS23-009D1 Tom South 748 442363 7003106 1747.29 351.97 -82.00
TS23-009D2 Tom South 821 442363 7003106 1747.29 351.97 -82.00
JS23-001 Jason South 631 436722 7002304 1185.00 228.15 -83.90
JS23-001D1 Jason South 665 436722 7002304 1185.00 228.15 -83.90
BX23-001 Boundary Expl. 219 421752 7010127 1114.70 035.16 -50.19
BX23-002 Boundary Expl. 144 421637 7010243 1137.50 014.78 -49.83
KB23-001 Kobuk 368 418651 7012138 1311.00 006.19 -51.12
KB23-002 Kobuk 284 418754 7011620 1225.00 006.00 -65.24

Coordinates listed in NAD83 UTM Zone 9N.


Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/a3d2ebc1-3604-4ad1-8174-25e087dbe69b

https://www.globenewswire.com/NewsRoom/AttachmentNg/d4d15648-8bb7-4703-af47-0500ac5f4fd0

https://www.globenewswire.com/NewsRoom/AttachmentNg/1f6c8a0e-76e2-40cb-90eb-d664513a0e4f

https://www.globenewswire.com/NewsRoom/AttachmentNg/9dc31ce1-b1b8-44ac-8de5-d05f0b5b4e5f

https://www.globenewswire.com/NewsRoom/AttachmentNg/66b0c6a5-222c-4e24-976a-bfcfd3630421

https://www.globenewswire.com/NewsRoom/AttachmentNg/56c58aa2-055c-42db-a607-e1c580c5484d

https://www.globenewswire.com/NewsRoom/AttachmentNg/b2f6a2b8-4874-482f-860e-b8d4291f0a50

https://www.globenewswire.com/NewsRoom/AttachmentNg/cce53c5b-a46b-4930-9881-69f26e4f7783

https://www.globenewswire.com/NewsRoom/AttachmentNg/e1d0f28d-dadd-483f-b7a6-66ba21fe7036

https://www.globenewswire.com/NewsRoom/AttachmentNg/46879f08-efc3-4b76-a7e4-b74745ec1086

https://www.globenewswire.com/NewsRoom/AttachmentNg/6ca0043f-8dad-4e30-8472-a15d4983bbfe

https://www.globenewswire.com/NewsRoom/AttachmentNg/71d1604b-c7fb-442a-b488-496396ac7310


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

FWZ:CA
Fireweed Metals

Fireweed Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Fireweed Intersects 14 m True Width of 11.45% Zinc, 5.86% Lead, and 126.3 g/t Silver at the New Tom South Zone

Fireweed Intersects 14 m True Width of 11.45% Zinc, 5.86% Lead, and 126.3 g/t Silver at the New Tom South Zone

Fireweed Metals CORP. ("Fireweed" or the "Company") (TSXV: FWZ; OTCQB: FWEDF; FSE: M0G) is pleased to report the final results from the 2023 drilling campaign at its Tom and Jason deposits, Macmillan Pass ("Macpass") Project, Yukon, Canada.

Highlights

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Fireweed 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

Fireweed 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

Fireweed Metals CORP. ("Fireweed" or the "Company") (TSXV: FWZ; OTCQB: FWEDF; FSE: M0G) is pleased to report its best drill intersection from Boundary Zone to date, as well as other spectacular assay results from its 2023 exploration at the Macmillan Pass ("Macpass") Project, Yukon, Canada.

Highlights

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Fireweed Provides Year-End Review of Record-Setting 2023 Accomplishments

Fireweed Provides Year-End Review of Record-Setting 2023 Accomplishments

Fireweed Metals CORP. ("Fireweed" or the "Company") (TSXV: FWZ; OTCQB: FWEDF; FSE: M0G) is pleased to provide a review of its record-setting 2023 accomplishments in building the Company and advancing its critical metals projects in northern Canada.

CEO and Chairman Statement

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Dr. Jack Milton and the Fireweed Metals Team Receive the 2023 AME H.H. "Spud" Huestis Award

Dr. Jack Milton and the Fireweed Metals Team Receive the 2023 AME H.H. "Spud" Huestis Award

Fireweed Metals CORP. ("Fireweed") (TSXV: FWZ; OTCQB: FWEDF; FSE: M0G) is pleased to share that Dr. Jack Milton, VP Geology, and the Fireweed Team have been announced as the recipients of the prestigious 2023 Association for Mineral Exploration (AME) H.H. "Spud" Huestis Award for applying a combination of progressive and innovative prospecting techniques and geoscientific technologies leading to the discovery of Boundary West and the expansion of significant mineral resources at the Macmillan Pass ("Macpass") Project, Yukon.

Highlights

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Fireweed 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

Fireweed 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

Fireweed Metals CORP. ("Fireweed" or the "Company") (TSXV: FWZ; OTCQB: FWEDF; FSE: M0G) is pleased to report additional assay results from its 2023 exploration at the Macmillan Pass ("Macpass") Project, Yukon, Canada.

Highlights

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
WESTERN COPPER AND GOLD APPOINTS SANDEEP SINGH AS CEO

WESTERN COPPER AND GOLD APPOINTS SANDEEP SINGH AS CEO

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce the appointment of Mr. Sandeep Singh as Chief Executive Officer of the Company, effective immediately.  Mr. Singh will work closely with Dr. Paul West-Sells who will continue in the role of President in connection with the succession process. Further, Mr. Kenneth Williamson has retired from his role as Director and Interim Chairman.  Current board member, Dr. Bill Williams has taken on the role of Interim Chairman as the Company searches for a replacement.

Western Copper and Gold Corporation logo (CNW Group/Western Copper and Gold Corporation)

As a highly respected mining professional with 20 years of sector expertise, Mr. Singh adds meaningful capital markets and strategic expertise to the Company. He was previously the President and CEO of Osisko Gold Royalties, where he led the successful turnaround of the company. For the fifteen years prior, Mr. Singh was an investment banker focusing on the North American metals and mining sector with BMO Capital Markets, Dundee Securities, and ultimately co-founding Maxit Capital, a leading independent M&A firm. He has advised numerous mining companies on financing alternatives and strategic matters as well as having acted on some of the most complex and value-enhancing M&A transactions in the mining sector. Mr. Singh holds a Bachelor of Mechanical Engineering degree from Concordia University and a Masters of Business Administration degree from Oxford University .

Dr. Bill Williams , Interim Chairman, commented "The Board would like to thank Ken for his dedication, and contributions to the Company. We wish him the best as he focuses his energy on his family and retirement. I'd also like to commend Paul on playing an active role in the succession planning efforts that led to the appointment of Mr. Singh. Paul has been the driving force behind the Casino project since the very beginning and we are hopeful he will continue to play an important role as we build out the management team necessary for the next phases of the Company's growth.

The Board is delighted to have someone of Sandeep's caliber joining the team. Throughout his impressive career, he has shown a dedication to stakeholder value, above all else, and will be aligned with shareholders through a significant personal investment into the Company. With Sandeep's addition, we are strengthening the Company's management capabilities to better unlock the value potential of the Casino project."

Mr. Singh commented "I see tremendous value in Casino as one of very few viable assets in the copper-gold development space. Casino strikes a unique balance of important scale, attractive commodity mix, low jurisdictional risk, and quick payback through the higher-grade core of the deposit. The credible data, underpinning a thorough feasibility study, and remaining upside from additional resources or optimizations to the project provide tangible upside potential. I am excited to be joining the Western Copper and Gold team at a pivotal time for the Company."

The Company also announces a C$3 million private placement (the "Placement") with Mr. Singh for the purchase of 2.22 million common shares at a price of C$1.35 per common share. The closing of the Placement is subject to entering into a customary subscription agreement and the receipt of approvals of the Toronto Stock Exchange and the NYSE American LLC. The shares issued pursuant to the Placement will be subject to a statutory hold period in accordance with applicable Canadian securities laws.

western copper and gold corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.

The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project using internationally recognized responsible mining technologies and practices.

For more information, visit www.westerncopperandgold.com .

On behalf of the board,

"Dr. Bill Williams "

Dr. Bill Williams
Interim Chairman
western copper and gold corporation

Cautionary Disclaimer Regarding Forward-Looking Statements and Information

This news release contains certain forward-looking statements concerning anticipated developments in Western's operations in future periods. Statements that are not historical fact are "forward-looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" as that term is defined in National Instrument 51-102 ("NI 51-102") of the Canadian Securities Administrators (collectively, "forward-looking statements"). Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. These forward-looking statements may include, but are not limited to, statements regarding: strengthening the Company's management capabilities to better unlock the value potential of the Casino project, the remaining upside from additional resources or optimizations to the project and the expected closing of the Placement; or other statements that are not statement of fact. The material factors or assumptions used to develop forward-looking statements include prevailing and projected market prices and foreign exchange rates, exploration estimates and results, continued availability of capital and financing, construction and operations, the Company not experiencing unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays, and general economic, market or business conditions and as more specifically disclosed throughout this document, and in the AIF and Form 40-F.

Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; risks related to joint venture operations; risks related to cooperation of government agencies and First Nations in the development of the property and the issuance of required permits; risks related to the need to obtain additional financing to develop the property and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in Western's AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.

Western's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/western-copper-and-gold-appoints-sandeep-singh-as-ceo-302069363.html

SOURCE western copper and gold corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2024/22/c1847.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Noble Reports on Canada Nickel Drilling Results from Mann Township

Noble Reports on Canada Nickel Drilling Results from Mann Township

(TheNewswire)

Noble Mineral Exploration Inc.

Toronto, Ontario TheNewswire - February 22, 2024 Noble Mineral Exploration Inc. ( "Noble" ) (TSXV:NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to report results form drilling completed by Canada Nickel Company Inc. (" Canada Nickel ") on the optioned Mann Twp properties, as reported in the Canada Nickel news release of February 22, 2024, copied below.  The Mann Twp properties that are the subject of the news release are subject to an Option and Joint Venture Agreement between Noble and Canada Nickel.  That agreement provides Canada Nickel the right to earn up to an 80% interest in the subject properties, with Noble retaining a 20% interest.  The results announced by Canada Nickel arise from exploration conducted by Canada Nickel in earning its up to 80% interest.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Pampa Metals Intersects Wide Interval of Copper Mineralization at Piuquenes, Argentina

Pampa Metals Intersects Wide Interval of Copper Mineralization at Piuquenes, Argentina

Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to report that diamond drillhole PIU-01 (refer figure 1) was completed at a downhole depth of 867m. First assay results are expected shortly. Drillhole PIU 02, the second hole of the current program, has commenced

Hole PIU-01, designed to extend Cu-Au mineralization to depth on the southwestern margin of the Piuquenes Central porphyry, intersected a 160m zone of supergene copper enrichment between 220m and 380m downhole, coincident, and overlapping with primary mineralization from 350 meters. Strong primary mineralization associated with intense porphyry A type quartz stockwork veining is evident from 350m to approximately 650m. From 650m to the end of hole at 867m quartz veining and mineralization continues, becoming progressively less intense with depth. From 830m disseminated hematite/specularite-pyrite-chalcopyrite mineralization is hosted in volcanic host rocks outside the porphyry intrusive and remains open at depth.

Keep reading...Show less
Osisko Metals: Visit us at PDAC 2024 Convention in Toronto this March at Booth 3013

Osisko Metals: Visit us at PDAC 2024 Convention in Toronto this March at Booth 3013

Visit Osisko Metals (TSXV: OM) (OTCQX: OMZNF) at Booth #3013 at the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 3 to Wednesday, March 6, 2024.

About Osisko Metals

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Osisko Metals Sells an Additional 5% Interest in Pine Point to Appian

Osisko Metals Sells an Additional 5% Interest in Pine Point to Appian

Osisko Metals Incorporated (the " Company " or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce that it has sold an additional 5% ownership interest in Pine Point Mining Limited (" PPML ") to a subsidiary of Appian Natural Resources Fund III LP (" Appian "), a fund advised by Appian Capital Advisory LLP, a London-based private equity group specializing in the acquisition and development of mining assets, for an expected payment of approximately C$8.33 million (based on certain assumptions and estimates outlined below) of which (i) approximately C$6.66 million in cash was paid to Osisko Metals in connection with closing of the transaction, and (ii) the remaining amount (if any), estimated to be approximately C$1.67 million based on certain budget assumptions and estimates of management required to advance the Pine Point Project to a positive FID (as defined below), to be paid as a milestone payment to Osisko Metals upon a positive FID (if at all) (the " Additional Interest Disposition "). PPML is a joint venture entity jointly owned by the Company and Appian, which holds the Pine Point Project. The Additional Interest Disposition is a non-arm's length transaction within the policies of the TSX Venture Exchange (the " Exchange ") as Appian is a non-arm's length party of PPML, an affiliate of the Company.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Canada Nickel Confirms Discovery at Mann Central, Successfully Completes Initial Drilling at Mann Northwest Property

Canada Nickel Confirms Discovery at Mann Central, Successfully Completes Initial Drilling at Mann Northwest Property

Highlights

  • A new discovery, Mann Central, successfully delineated across 2.5 kilometre strike length by six holes
  • Three additional drill holes at previously announced Mann Northwest discovery, extended mineralization across a 2.7 kilometre strike length
  • Mann Northwest and Mann Central are two of five targets (others are Mann Southeast, Newmarket and Reaume) each with a geophysical footprint larger than Crawford, and a combined strike length of over 25 kilometres

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce the final set of assay results from its initial exploration program at the Mann Property, a joint venture with Noble Mineral Exploration Inc. ("Noble") whereby Canada Nickel can earn an 80% interest by completing certain cash and share payments and exploration expenditures (see original press release dated November 22, 2021 ).

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Fireweed Metals

Fireweed Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×