Fireweed Metals Plans Large Drill Program at Macmillan Pass Zinc Project in 2023

“The challenge and opportunity for the team is that we've got a bigger budget than we've ever had before,” said Fireweed Metals CEO Brandon Macdonald.

Fireweed Metals (TSXV:FWZ) raised a total of C$35.1 million in funding in its recent private placement, allowing it to execute on further exploration and development of its projects in Northern Canada. CEO Brandon Macdonald considers it a “challenge and opportunity” to embark on such a large-scale program.

“Last year, 2022, (was) our biggest ever drill program. 2023 might be three times that size. The challenge and opportunity for the team is that we've got a bigger budget than we've ever had before. All the moving parts of trying to execute something that big is exciting for us. We hope it’s exciting for investors to have a scale of a program like that.”

Fireweed closed its C$35.1 million non-brokered private placement on December 21, 2022. The Lundin Family and Associates subscribed for a total of 27 million shares, while other key shareholders also subscribed, including Larry Childress for 3.3 million shares and Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) for 3.4 million shares.

The Lundins, according to Macdonald, are mine builders who have given Fireweed Metals the credibility and the capacity to build. “So I think there's little question now; if Fireweed wants to build these projects, we can.”

In January 2023, Fireweed Metals reported that it drilled 12.5 meters of 11.17 percent zinc, including 6.2 meters of 15.84 percent zinc at Boundary Main at its Macmillan Pass project located in the Yukon. A new laminated zone in hole NB22-008 returned 14.55 percent zinc, 1.5 percent lead and 28.8 grams per metric ton silver over 2.65 meters.

Macdonald said the company is also expecting more drill results from 2022, as only two out of 32 drill holes from last year have been released.

“The next 12 to 18 months will be the most catalyst-rich ever for the company, so it's an exciting time to be involved, and hopefully it’s an exciting time to be a shareholder.”

Watch the full interview with Fireweed Metals CEO Brandon Macdonald above.

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This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.

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