- Option agreements in place to earn 100 percent interest in the Tom and Jason and MAC claims.
- Located in the mining-friendly jurisdiction of Yukon, Canada.
- One of the largest and highest-grade zinc-lead-silver projects in the Americas with blue-sky potential.
- Good infrastructure and property access.
- Preliminary metallurgy in 2012 demonstrated good recoveries and concentrate grades.
- Gayna River Zinc Project covers 128 square kilometers of mineral claims in the Northwest Territories. The area includes 28,000 meters of historic drilling by Rio Tinto.
- 2018 resource estimate highlighted an indicated resource of 11.2 million tonnes at 9.6 percent zinc equivalent and an inferred resource of 39.5 million tonnes at 10 percent zinc equivalent
- PEA included an after-tax NPV (eight percent) of $448 million, an IRR of 24 percent and an 18-year mine life.
- 2019 exploration program is currently underway at Macmillan Pass.
- Strong share structure with management holding large block of shares.
- Good relations with First Nations in a non-treaty area.
- Fireweed Metals acquired 100 percent interest in the Mactung Tungsten Project located in Yukon and Northwest Territories, Canada.
Fireweed Metals Corp. (TSXV:FWZ,OTCQB:FWEDF) is a Canadian mining, exploration and development company focused on advancing its Macmillan Pass zinc–lead–silver project in Yukon, Canada. Fireweed Metals' Macmillan Pass project is a district-scale play that has significant upside potential. Fireweed Metals intends to expand upon historic work and utilize modern exploration methods to make new discoveries.
The property is strategically located in the zinc-rich Selwyn Basin, which is known to host large sedimentary exhalative (SEDEX) deposits. SEDEX deposits are responsible for more than half of the world's zinc production and are an important source of lead. Global examples of this type of deposit include the Howard's Pass district (eastern Yukon and Northwest Territories), Mt Isa-Century in the McArthur River district (Australia) and Red Dog (Alaska).
Fireweed Metals has two large SEDEX deposits —Tom and Jason — and the company is confident that it can make additional SEDEX discoveries. In May 2022, it acquired the Gayna River Zinc Project by way of staking, covering over 128 square kilometers of mineral claims in the Northwest Territories. The area includes 28,000 meters of historic drilling by Rio Tinto and allows Fireweed Metals to increase its claims at an affordable rate in a proven area.
In addition to its exploration potential, the Macmillan Pass project also has a 2018 resource estimate. The resource was developed using a historic resource from 2007 as well as results from a 2,000-meter drill program. The resource highlighted an indicated resource of 11.2 million tonnes grading 9.6 percent zinc equivalent and an inferred resource of 39.5 million tonnes grading 10 percent zinc equivalent.
Following the release of the resource, Fireweed Metals released the results of a preliminary economic assessment (PEA) for the project in May 2018. The PEA outlined an 18-year mine life with 32.7 million tonnes of mineralization being mined at a processing rate of 4,900 tonnes-per-day. The report also highlighted an after-tax NVP (eight percent) of $448 million and an IRR of 24 percent.
Since releasing the PEA, Fireweed Metals has continued its exploration efforts at Macmillan Pass with the aim of expanding the resource estimate and further improving the PEA. To this aim, Fireweed Metals has completed a drill program on a number of prospective targets to test for new deposits, primarily on or near the Tom North, Tom East, Jason North and End Zone targets. The company also completed various geophysical, geochemical and geological mapping surveys as part of its field exploration program. Through this exploration work, Fireweed Metals was able to identify ways to improve project economics and mine life.Fireweed Metals is managed by a seasoned team of mining industry professionals. Executive Chairman John Robins is a professional geologist whose career spans nearly four decades. Robins was the Founder and Executive Chairman of Kaminak Gold Corporation which was sold to Goldcorp., now Newmont Goldcorp (TSX:NGT,NYSE:NEM), for $520 million. He was the 2008 recipient of the Association for Mineral Exploration British Columbia's H.H. “Spud" Huestis Award. He sits on the boards of several successful exploration companies. In 2017, Robins' companies raised over $100 million.