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Fireweed Zinc Intersects Significant Mineralization in step-out holes at Boundary West

 

Fireweed Zinc LTD. ("Fireweed") (TSXV: FWZ) is pleased to announce a successful start to the 2021 drill program and an update on the exploration program at Macmillan Pass zinc-lead-silver project, Yukon, Canada.

 

  Highlights  

 
  • Significant widths of pyrite-sphalerite-galena mineralization have been intersected in the first step-out holes at Boundary West.
  •  
  • Two diamond drilling rigs are turning on the property, one at Boundary Zone West and one at Tom East. Five holes have been completed to date, totalling 1,354 m.
  •  
  • Ground gravity geophysical crews have completed 50.5 line kilometres expanding coverage westwards along the Fertile Corridor from Boundary Zone.
  •  
  • Field crews continue geological mapping and prospecting efforts from Boundary Zone westwards across new ground acquired last year.
  •  

  CEO Statement  

 

Brandon Macdonald, CEO, stated, "The first few holes into Boundary West confirm the presence of mineralization both along strike and down-dip from last year's new discovery. We are excited to continue drilling additional step-out holes to test the potential extent of mineralization in the area. The drilling at Tom East is both confirming the nature of mineralization and improving our understanding of the geology and structure of that deposit. We're also pleased with the progress of the geophysical and mapping programs and look forward to defining new targets for future exploration and drill testing."

 

  Diamond Drilling  

 

At Boundary West (Map 1) two diamond drill holes, NB21-001 and NB21-002 (Map 2), have successfully confirmed the presence of significant widths of both laminated sphalerite-galena-pyrite-barite mineralization and massive pyrite-sphalerite-galena mineralization as step-out intersections, located 75 m and 210 m down-dip, respectively, from the mineralized intersection of 4.22% zinc 0.34% lead and 25.6 g/t silver over 76.5 m in 2020 discovery drill hole NB20-004 (see Fireweed news release dated 3 rd February 2021). Massive pyrite-sphalerite-galena has been intersected in hole NB21-003, representing a 115 m step-out along strike to the west from the intersection in NB20-004. Mineralized intersections in holes NB21-001, NB21-002 and NB21-003 are within the upper sequence of mineralization (described in Fireweed news release dated 24 th November 2020). Hole NB21-004 is in progress, testing the extent of the Boundary West target at depth below NB21-003.

 

Two holes have been completed at Tom East totalling 448 m (Map 3). Infill hole TS21-001 intersected laminated sphalerite-galena-pyrite-barite mineralization, with a width and style of mineralization similar to what was anticipated based on the location of this intersection within the current Mineral Resource (see Fireweed news releases dated January 10th, 2018, and reports filed on www.sedar.com for details). Step-out hole TS21-003 is in progress at Tom East.

 

Additional holes are planned at Boundary Zone this season, focusing on step-outs from known areas of mineralization.

 

Initial observations are summarized in Table 1 and collar details are provided in Table 2. Assays are pending for all holes and no visual estimates of grade have been made.

 

Table 1: 2021 drill hole results and observations. All assays pending.

 
                                        
  Drill Hole    Length (m)    Zone    Target    Results and Observations  
NB21-001 277.0 Boundary West BZW down-dip extension Wide zone encountered. Assays pending.
NB21-002 439.0 Boundary West BZW down-dip extension Wide zone encountered. Assays pending.
NB21-003 189.0 Boundary West BZW step-out to west Wide zone encountered. Assays pending.
NB21-004 In progress Boundary West BZW step-out to west Drilling in progress.
TS21-001 402.7 Tom East Tom East infill Wide zone encountered. Assays pending.
TS21-002 46.0 Tom East Tom East step-out Hole ended early due to drilling problems and is being redrilled as TS21-003.
TS21-003 In progress Tom East Tom East step-out Drilling in progress.
 

Table 2: 2021 drill collar details

 
                                                                
  Drill Hole    Length (m)    Zone    Easting*    Northing*    Elevation (m)    Dip (°)    Grid Azimuth (°)  
NB21-001 277.0 Boundary West 422049 7010614 1218 -65 211
NB21-002 439.0 Boundary West 422049 7010614 1218 -75 212
NB21-003 189.0 Boundary West 421927 7010637 1225 -50 211
NB21-004 In progress Boundary West 421927 7010637 1225 -75 211
TS21-001 402.7 Tom East 442063 7004323 1679 -82 060
TS21-002 46.0 Tom East 442197 7004428 1688 -89 236
TS21-003 In progress Tom East 442197 7004429 1688 -89 236
 

*UTM Zone 9 NAD83

 

  Ground Gravity Geophysics  

 

A ground gravity geophysics crew has been making steady progress extending the 2020 survey grid to the west along the Fertile Corridor over the Eleven, and Kobuk targets (Map 4). Approximately 50.5 line-kilometres have been completed so far, around two-thirds of the planned 2021 program. The Boundary West Zone was discovered in 2020 by drilling a gravity anomaly. The current gravity survey program is designed to cover highly prospective areas further west over geochemical anomalies, key structures and prospective geology including initial coverage of the Corvus and Imperial targets (Map 4).

 

  Regional Geological Mapping and Prospecting  

 

Field crews began the season with geological mapping and prospecting around Boundary Zone and Boundary Zone West and are now working westwards onto the Sol and Oro claims acquired by Fireweed last year (see Fireweed news release dated November 23, 2020). The main goals of this work include investigation of geochemical anomalies and examining prospective geology over a greatly expanded search space with potential for new discoveries. This expanded search space is the result of successful 2020 drilling which not only discovered the new Boundary West Zone but also, for the first time in the district, found significant zinc-lead-silver mineralization in older rocks of the Road River Group (see Fireweed news release dated November 24, 2020 for details).

 

  Qualified Person Statement  

 

Technical information in this news release has been approved by Jack Milton, P.Geo., Ph.D., Chief Geologist and a ‘Qualified Person' as defined under Canadian National Instrument 43-101.

 

  About Fireweed Zinc Ltd. (TSXV: FWZ):  Fireweed Zinc is a public mineral exploration company focused on zinc-lead-silver and managed by a veteran team of mining industry professionals. The Company is advancing its district-scale 940 km 2 Macmillan Pass Project in Yukon, Canada, which is host to the 100% owned Tom and Jason zinc-lead-silver deposits with current Mineral Resources and a PEA economic study (see Fireweed news releases dated January 10, 2018, and May 23, 2018, respectively, and reports filed on www.sedar.com for details) as well as the Boundary Zone, 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 (MAC, MC, MP, Jerry, BR, NS, Oro, Sol, Ben, and Stump) which cover exploration targets in the district where previous and recent work identified zinc, lead and silver prospects, and geophysical and geochemical anomalies in prospective host geology.

 

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 the Macmillan Pass Project 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. Additional risks are set out in the Company's prospectus dated May 9, 2017, and filed under the Company's profile on SEDAR at www.sedar.com . 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
Brandon MacDonald
Phone: (604) 646-8361

 

Map 1: Location of Macmillan Pass deposits and exploration targets is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/45dc57b0-0d47-44bd-b9da-b4ce46a5337c  

 

Map 2: Boundary Zone 2021 drilling is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5b38d968-227d-42f2-b9d5-9f60a9a2e064  

 

Map 3: Tom East 2021 drilling is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ba8415dd-066a-45a1-9382-496de5e12ade  

 

Map 4: Anticipated area of coverage of the 2021 ground gravity survey and coverage of previous 2018-2020 gravity surveys (first vertical derivative of the Total Bouguer Anomaly) is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3393be9b-46c5-4164-b4a2-e95656eeedd3  

 

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Fireweed Metals (TSXV:FWZ)

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FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") announces that the board of directors of the Company has approved the grant of 5,305,000 stock options (the " Options ") to directors, officers and employees of the Company pursuant to the Company's Share Compensation Plan. The Options have an exercise price of $0.30 per share, with a five-year term and are fully vested on the grant date, July 10, 2025 .

 
 

  FPX Nickel logo (CNW Group/FPX Nickel Corp.) 

 

The Company also granted an aggregate 750,000 restricted share units (the " RSUs ") to certain officers of the Company. The RSUs vest in three equal installments on the annual anniversaries of the grant date and each vested RSU will entitle the holder to receive one common share of the Company or the equivalent cash value upon settlement.

 

  About FPX Nickel Corp.  

 

 FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

 

On behalf of FPX Nickel Corp.

 

"Martin Turenne"
Martin Turenne , President, CEO and Director

 

   Forward-Looking Statements   

 

  Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.  

 

  Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.  

 

SOURCE FPX Nickel Corp.

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/11/c5569.html  

 
 

 

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HIGHLIGHTS:

- Operational Milestones

o VTX remains firmly on track to commence production of high-grade ore from the underground mine in the forthcoming weeks.

o Transformer and cabling for the installation of 11kV high voltage underground power system on site with installation commenced.

o Preparations for the underground mine startup up progressing as planned and stripping of the main access is completed.

o New Aramine L350D has departed France for the journey to Hill End. Arrival in Orange NSW expected in by 26th August where it will be fitted with an RCT remote control system for open stoping operations.

o Mining the Reward Gold Mine - Resource 225kozs at 16.7g/t (VTX ASX Announcement 21 June 2023).

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- Mine start up

o Fan chambers have been excavated to provide secondary ventilation for production activities, exploration drilling and the future southern access toward the Fosters' exploration target.

o Primary ventilation fan has been installed and bulkhead completed.

o High voltage surface substation has been installed.

o High voltage cabling installation commences next week, with power up of the system scheduled for 28 July 2025.

o Stripping of the main accessis completed with the final elements of ground support (approx. 30m) to be completed before power cable installation starts next week.

o Cable bolts installed for the intersection of Lady Belmore exploration drive with first cut drilled out and ready to charge.

o Development Jumbo #1 (Epiroc T1D) is exceeding performance expectations.

o Dewatered of declines well underway.

o Mine schedule for FY26 finalised.

o First airleg stope secondary vent installed and specialty equipment on site to start first air leg stope.

o First long hole stope planned for August. High grade from airleg and longhole stopes to complement larger tonnage from development ore headings.

- People that have been onboarded

o 2x Drill Fitters and Heavy diesel fitter.

o Process superintendent commences next week.

o Full Tech team started including mine surveyor this week.

o Have back-to-back airleg miners for stoping.

o Full underground and mill crews.

- Improvements to plant

o DSM screen installed to improve product delivery to Wilfley Table.

o Gemini table improvements with new tabletop and gearbox improving final concentrate grade to over 20% gold (suitable for direct smelting to Dore on site).

o Process water pump upgrade improving ore washing and Tomra performance.

- Revised mine plan and schedule completed and ready to implement

- Updated Reward Gold mine mining plan and mine schedule completed.

- Adding a high-grade long hole stope upfront to be mined concurrently with the high grade airleg stope.

Vertex Director Declan Franzmann commented: "It is great to see all the elements of re-developing the underground mine and processing facility coming together so rapidly. The most pleasing aspect is our success in employing an incredible team of people to run the operation and all credit to management for developing great "esprit de corps" and a single sense of purpose as we push to full production."

As previously announced, the startup mine schedule includes mining 2,075 tonnes at 17.8 g/t Au from a developed airleg stope block. The planned stope width is the same as the interpretation of the mineralisation. (Refer to Table 1 in Appendices 1) (VTX ASX announcement 26/06/23).

Given this stope will take some time to extract, the Vertex geology and Mining Team have additionally brought forward a very high-grade long hole stope to commence mining in August as well. Further optimisations to the mining schedule will continue to be made.

This stope can be exploited as soon as services have been established. The mining crews have done a great job in the access drive to make room for the services (11kV cable, water and air lines) while improving accessibility for the mobile mining equipment selected for the Project.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/OUQP5Z21

 

About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX,VTXXF) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

 

 

Source:
Vertex Minerals Limited

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