Fireweed Zinc Mobilizes Field Crews for $10M Drill Program at Macmillan Pass

Fireweed Zinc Mobilizes Field Crews for $10M Drill Program at Macmillan Pass

Fireweed Zinc LTD. ("Fireweed" or the "Company") (TSXV: FWZ; OTCQB: FWEDF) is pleased to announce that the first field crews have been mobilized to the Macmillan Pass Property, in Yukon, Canada to prepare for a large 2022 drill program. Significant improvements are being made to the camp to support the four-rig 2022 program. Diamond drilling, core scanning, and a muon tomography survey will begin in the coming weeks after the access road opens.

Highlights

  • This will be Fireweed's largest drill program to date with 8,000 m of diamond drilling planned.
  • Two-thirds of the metres will be step-out and infill at Boundary Zone and Boundary West with the remaining metres split between Tom and Jason targeting high-grade step-out and infill holes.
  • All 2022 core plus core from previous programs and historical core will be scanned using advanced hyperspectral scanning technology.
  • Muon detectors will be deployed at Boundary West to effectively target step-outs and help define the geometry of the recently discovered zones of massive and high-grade laminated sulphide.
  • Field crews will also be conducting due diligence and validation work at the adjacent Mactung Tungsten Project in the coming months in preparation for the planned Mineral Resource update and PEA economic study

V.P. Exploration Statement

Gilles Dessureau, V.P. Exploration, stated, "We are very excited to start our 2022 season. It will be the largest and most ambitious program ever carried out by Fireweed at the Macmillan Pass Project. We are also excited to use innovative new technologies, such as muon tomography and hyperspectral imaging to guide exploration. The main objectives of the 2022 field program will be to define and expand the known mineralized zones toward an updated mineral resource study this winter followed by an updated preliminary economic study."

2022 Diamond Drill Program

The 2022 drill program will consist of 4 diamond drill-rigs, targeting approximately 8,000 m of drilling divided between the zones. Boundary Zone is open in every direction, and the 2022 program has been designed to test step-outs around the peripheries of Boundary Main and Boundary West, in addition to testing a potential connection between the two zones. The step-outs will include testing potential down-dip continuation of the recently discovered high-grade stratiform mineralization at Boundary West (see Fireweed news release dated March 10, 2022), and testing for additional massive sulphide mineralization in the near-surface. Three of the rigs will remain at Boundary Zone where Fireweed anticipates drilling approximately 5,800 m.

The fourth rig will drill Tom West, Tom North, Jason Main, and Jason South, targeting approximately 2,300 m between these four large zinc-lead-silver deposits. The holes at Tom West will focus on providing infill within high-grade zones where the current mineral resource is supported by small-diameter historic diamond drill holes with very poor recovery in the higher-grade portions of the holes. Fireweed sees potential to increase zinc, lead, and silver grades in these areas by drilling large HQ diameter holes using triple-split tubes to improve recovery, as demonstrated in previous Fireweed drill programs (see Fireweed news releases dated October 10, 2018; November 13, 2018; August 20, 2019; September 10, 2019). The drilling at Tom North will target a step-out of the near-surface mineralization that is potentially amenable to open-pit mining. The drilling at Jason Main and Jason South will target high-grade step-outs

By the end of the 2022 campaign, Fireweed will have four seasons worth of new drill data that will be used to inform a new global mineral resource, including an inaugural resource for the Boundary Main, Boundary West, End Zone and Tom North zones, and an updated resource for Tom West, Tom East, Tom Southeast, Jason Main and Jason South zones. Fireweed will use the new resource to inform a new Preliminary Economic Assessment (PEA) for the project.

2022 Core Scanning Program

Fireweed contracted GeologicAI to scan all 2022 drill core as well as a significant portion of the core from Fireweed's past programs and some of the historic core from the previous operators. The scanning will include high resolution digital photography, LiDAR topography, shortwave, visible, and near infrared hyperspectral imagery, and X-ray fluorescence (XRF) scans. Fireweed anticipates using this information to inform geometallurgical models of the deposits that have potential to deliver value by optimizing the upcoming PEA.

2022 Muon Tomography Survey

Working with Ideon Technologies, Fireweed will deploy muon detectors in two drill holes at Boundary West. These detectors will be used to define the geometry of the known zinc mineralization at Boundary West and target additional mineralization in the area. Muon tomography is a down-hole geophysical technique that uses naturally occurring cosmic-ray muons to measure density contrasts and identify subsurface anomalies such as dense bodies of zinc mineralization.


Qualified Person Statement

Technical information in this news release has been approved by Gilles Dessureau, P.Geo., V.P. Exploration and a ‘Qualified Person' as defined under Canadian National Instrument 43-101.

About Fireweed Zinc Ltd. (TSXV: FWZ;   OTCQB: FWEDF; FSE:20F   ): Fireweed Zinc is a public mineral exploration company on the leading edge of Critical Minerals project development. The Company has three projects located in northern Canada:

  • Macmillan Pass Zinc-Lead-Silver Project: Fireweed owns 100% of the district-scale 940 km 2 Macmillan Pass project in Yukon, Canada, which is host to the Tom and Jason zinc-lead-silver deposits with current Mineral Resources and a PEA economic study (see Fireweed news releases dated 10 th January 2018, and 23 rd May 2018, respectively, and reports filed on www.sedar.com for details) as well as the Boundary Zone, Boundary Zone West, Tom North Zone and End Zone which 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. Plans for 2022 include a large drill program toward expanded mineral resources and an updated PEA to include large new zones of mineralization defined since 2018 including the Boundary Zones.
  • Mactung Tungsten Project: The Company has a binding Letter of Intent to acquire 100% interest in the 37.6 km 2 Mactung Tungsten Project located adjacent to the Macmillan Pass Project. Mactung contains historic resources that make it one of the largest and highest-grade undeveloped tungsten resources in the world. Located in Canada, it is one of the rare large tungsten resources outside of China. Plans for 2022 include due diligence and validation work on historic data in order to support a new mineral resource estimate followed by a Preliminary Economic Study.
  • Gayna River Zinc-Gallium-Germanium Project: Fireweed has 100% of the 128.75 km 2 Gayna River project located 180 kilometres north of the Macmillan Pass project. It is host to extensive critical minerals mineralization including zinc, gallium and germanium as well as lead and silver, outlined by 28,000 metres of historic drilling and significant upside potential. Plans for 2022 consist of an airborne LiDAR topography survey, ground geophysics survey, and historic data compilation.

In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies and is DTC eligible for enhanced electronic clearing and settlement. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com . In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock Exchange.

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

Additional information about Fireweed Zinc and its Macmillan Pass Zinc Project including maps and drill sections can be found on the Company's website at www.FireweedZinc.com and at www.sedar.com .

ON BEHALF OF Fireweed Zinc LTD.

" Brandon Macdonald "

CEO & Director

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.

Cautionary Statements

This news release may contain "forward-looking" statements and information relating to the Company and its projects that are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, general economic conditions, changes in financial markets, pandemics, the ability to properly and efficiently staff the Company's operations, 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, and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

Contact information: Brandon Macdonald
Phone: (604) 646-8361

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/539d5060-21e0-42ed-8654-ea0ade9fc87e


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Developing a world-class critical minerals district in Yukon, Canada

Fireweed Announces Management Change and Adds Strength to its Leadership

Fireweed Announces Management Change and Adds Strength to its Leadership

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The Company also announces the appointment of Adam Lundin as Strategic Advisor, the appointment of Paul Harbidge as independent Director, and the intention to nominate Jamie Beck for election to the Board at the Company's upcoming annual general meeting of shareholders.

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CEO Statement

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Fireweed Makes Complete Drill Database Available and Launches New Website

Fireweed Makes Complete Drill Database Available and Launches New Website

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Highlights

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Group Eleven Drills Best Hole Yet at Ballywire: 39.7m of 9.5% Zn+Pb, 131 g/t Ag and 0.27% Cu, incl. 5.6m of 16.6% Zn+Pb, 370 g/t Ag and 0.86% Cu

Group Eleven Drills Best Hole Yet at Ballywire: 39.7m of 9.5% Zn+Pb, 131 g/t Ag and 0.27% Cu, incl. 5.6m of 16.6% Zn+Pb, 370 g/t Ag and 0.86% Cu

Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce the latest step-out drill results from the Zn-Pb-Ag horizon at its Ballywire discovery ("Ballywire") at the 100%-owned PG West Project ("PG West"), Republic of Ireland. Drilling at Ballywire's deeper, Cu-Ag target is in progress (to be reported in due course).

Highlights:

  • 25-3552-35 (a 50m step-out to the NE from previous drilling, along the Zn-Pb-Ag horizon) intersected:
    • 53.9m of 7.9% Zn+Pb (4.7% Zn and 3.2% Pb), 99 g/t Ag and 0.20% Cu, including
    • 39.7m of 9.5% Zn+Pb (5.6% Zn and 3.9% Pb), 131 g/t Ag and 0.27% Cu, including
    • 18.3m of 16.1% Zn+Pb (8.9% Zn and 7.2% Pb), 233 g/t Ag and 0.42% Cu, including
    • 5.6m of 16.6% Zn+Pb (8.0% Zn and 8.5% Pb), 370 g/t Ag and 0.86% Cu
    • True thickness is estimated to be 90-100% of the intervals noted above and below
  • Three Cu-Ag enriched zones were also intersected below the above intercept in the same hole:
    • 5.5m of 3.2% Zn+Pb (0.9% Zn and 2.2% Pb), 209 g/t Ag and 0.49% Cu, including
      • 0.9m of 2.1% Zn+Pb (1.5% Zn and 0.6% Pb), 831 g/t Ag and 2.46% Cu and
    • 0.9m of 195 g/t Ag and 0.21% Cu and
    • 3.5m of 7.1% Zn+Pb (3.5% Zn and 3.6% Pb), 134 g/t Ag and 0.34% Cu, including
      • 0.9m of 3.5% Zn+Pb (0.5% Zn and 3.0% Pb), 224 g/t Ag and 0.63% Cu
  • These results extend the strike length of the immediate Ballywire discovery corridor from 1,250m to 1,300m, while demonstrating much thicker mineralization than previously encountered
  • This corridor is hosted within a larger 2.6km long trend of robust mineralization pierced by drilling at Ballywire to date, along a prospective trend of over 6km (defined by four regional gravity-high anomalies, only one of which has been systematically drill tested to date)
  • Today's elevated Cu-Ag values further substantiate the Company's 'deeper Cu-Ag' target (100-200m below the Zn-Pb-Ag horizon), currently being drill tested (second hole in progress)
  • Three rigs are turning at Ballywire with over 4,000m of drilling completed year-to-date; Group Eleven aims to complete 8,000-10,000m in 2025 (fully funded)

"Today's hole represents our thickest intercept yet at the Ballywire discovery, surpassing our 29.6 metres of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu announced in June 2024," stated Bart Jaworski, CEO. "Not only does this intercept extend strike and show exceptional mineralized thickness but also demonstrates zones of strong copper-silver values. This adds to growing evidence suggesting a deeper Cu-Ag horizon one to two hundred metres below the main Ballywire discovery horizon. This deeper target is currently being drilled, with one hole finished and a second started. We look forward to releasing these results as soon as assays are available. With three rigs turning each on excellent targets at Ballywire and a recently announced strengthened cash position of C$4.3 million, Group Eleven is poised to keep generating shareholder value through the drill bit for the foreseeable future."

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Exhibit 1. Plan Drill Hole Map of Ballywire Discovery, Showing Hole 25-3552-35

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/257506_7a4c0f28c4b01b45_002full.jpg

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Exhibit 2. Long-Section of 25-3552-35 (50m Step-Out) at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/257506_7a4c0f28c4b01b45_003full.jpg

Note: Structural interpretation above is preliminary and subject to change with further drilling and compilation

Ballywire Drill Update

The Ballywire prospect at the Company's 100%-owned PG West Project in Republic of Ireland, represents the most significant mineral discovery in Ireland in over a decade. First announced in Sept-2022, the discovery has 53 holes drilled and reported by Group Eleven to date, including the most recent hole (25-3552-35) reported today (see Exhibits 1 to 3).

Drilling at Ballywire continues with three rigs. Currently, eight (8) new holes are completed (and in the process of being logged, sampled and assayed). Six of these holes are shown in Exhibit 1, with two other holes near gravity-high anomaly 'D' (located 1.3km to the ENE). Recently strengthened financial position provides Group Eleven flexibility to either ramp-up drilling in 2025 and/or extend its runway for drilling well into 2026.

Assays from 25-3552-35 are summarized below (see Exhibit 3). Strong mineralization starts to occur within the Waulsortian Limestone at 120.6m downhole and continues intermittently until 187.9m, at which point, mineralization becomes more consistent through to near the base of the Waulsortian Limestone at 242.9m. Below the Waulsortian Limestone, several horizons of elevated copper-silver occur. Mineralization consists predominantly of sphalerite, galena and pyrite, with the copper-silver bearing zones also containing chalcopyrite and suspected tennantite-tetrahedrite.

Exhibit 3. Summary of Assays from 25-3552-35 at Ballywire

ItemFrom
(m)
To
(m)
Int
(m)
Zn
(%)
Pb
(%)
Zn+Pb
(%)
Ag
(g/t)
Cu
(%)
25-3552-35120.58121.490.9110.852.9013.75235.00.03
And148.67149.620.9516.904.0520.9569.60.02
And155.22156.150.936.160.676.8318.50.01
And163.74177.6313.893.610.574.179.40.00
Incl.173.19177.634.445.081.146.2218.60.01
Incl.174.98175.910.9310.202.7212.9247.10.02
And187.88241.8253.944.723.187.8999.30.20
Incl.202.15241.8239.675.613.859.45131.10.27
Incl.212.55230.8118.268.897.1816.06233.10.42
Incl.212.55224.2111.6611.609.9921.59207.80.34
Incl.221.33226.965.638.038.5416.57370.00.86
Incl.222.32223.250.9316.2018.9035.10556.01.13
And238.21241.823.610.410.170.5896.40.54
Incl.240.92241.820.900.820.551.37223.01.27
And252.32257.805.480.942.223.16208.80.49
Incl.252.32254.091.772.013.685.69616.81.50
Incl.252.32253.200.881.480.632.11831.02.46
And263.23264.150.920.010.080.09195.00.21
And268.70272.153.453.503.557.06133.70.34
Incl.271.27272.150.880.502.993.49224.00.63

 

Note: True thickness of the mineralized interval in hole 25-3552-35, as a percentage of the down-hole interval, is estimated to be 90-100%

Notes to Exhibit 4: (a) Pallas Green MRE is owned by Glencore (see Glencore's Resources and Reserves Report dated December 31, 2024); (b) Stonepark MRE: see the 'NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland', by Gordon, Kelly and van Lente, with an effective date of April 26, 2018, as found on SEDAR; and (c) the historic estimate at Denison was reported by Westland Exploration Limited in 'Report on Prospecting Licence 464' by Dermot Hughes dated May, 1988; the historic estimate at Gortdrum was reported in 'The Geology and Genesis of the Gortdrum Cu-Ag-Hg Orebody' by G.M. Steed dated 1986; and the historic estimate at Tullacondra was first reported by Munster Base Metals Ltd in 'Report on Mallow Property' by David Wilbur, dated December 1973; and later summarized in 'Cu-Ag Mineralization at Tullacondra, Mallow, Co. Cork' by Wilbur and Carter in 1986; the above three historic estimates have not been verified as current mineral resources; none of the key assumptions, parameters and methods used to prepare the historic estimates were reported and no resource categories were used; significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimates can be verified and upgraded to be compliant with current NI 43-101 standards; a Qualified Person has not done sufficient work to classify them as a current mineral resource and the Company is not treating the historic estimates as current mineral resources. 'Rathdowney Trend' is the south-westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.

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Exhibit 4. Regional Map of Ballywire Discovery

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Qualified Person

Technical information in this news release has been approved by Professor Garth Earls, Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, and independent 'Qualified Person' as defined under Canadian National Instrument 43-101.

Sampling and Analytical Procedures

All core drilled at Ballywire is NQ (47.6mm) and is cut using a rock saw. Sample intervals vary between 0.55m to 1.32m with an average (over 188 samples) of 0.92m. The half-core samples are bagged, labelled and sealed at Group Eleven's core store facility in Limerick, Ireland. Selected sample bags are examined by the Qualified Person. Transport is via an accredited courier service and/or by Group Eleven staff to ALS Laboratories in Loughrea Co. Galway, Ireland. Sample preparation at the ALS facility comprises fine crushing 70%

Quality Assurance/Quality Control (QA/QC) Information

Group Eleven inserts certified reference materials ("CRMs" or "Standards") as well as blank material, to its sample stream as part of its industry-standard QA/QC programme. The QC results have been reviewed by the Qualified Person, who is satisfied that all the results are within acceptable parameters. The Qualified Person has validated the sampling and chain of custody protocols used by Group Eleven.

About Group Eleven Resources

Group Eleven Resources Corp. (TSX.V: ZNG; OTCQB: GRLVF and FRA: 3GE) is drilling the most significant mineral discovery in the Republic of Ireland in over a decade. The Company announced the Ballywire discovery in September 2022, demonstrating high grades of zinc, lead, silver, copper, germanium and locally, antimony. Key intercepts to date include:

  • 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)
  • 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)
  • 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)
  • 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)
  • 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and
  • 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)
  • 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)
  • 12.0m of 1.4% Zn+Pb, 560 g/t Ag, 2.30% Cu and 0.17% Sb (25-3552-31), including
  • 6.4m of 2.1% Zn+Pb, 838 g/t Ag, 3.72% Cu and 0.27% Sb (25-3552-31)
  • 39.7m of 9.5% Zn+Pb, 131 g/t Ag and 0.27% Cu (25-3552-35)

Ballywire is located 20km from Company's 77.64%-owned Stonepark zinc-lead deposit1, which itself is located adjacent to Glencore's Pallas Green zinc-lead deposit2. The Company's two largest shareholders are Michael Gentile (15.3%) and Glencore Canada Corp. (15.2% interest). Additional information about the Company is available at www.groupelevenresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer

E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | T: 604-644-9514

Neither 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.

Cautionary Note Regarding Forward-Looking Information

Technical and scientific information disclosed from neighbouring properties does not necessarily apply to the current project or property being disclosed. This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

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Questcorp Mining Engages Marketing Consulting Firm Spark Newswire

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