VANCOUVER, July 20, 2017 /CNW/ - FIREWEED ZINC LTD. ("Fireweed" or the "Company") (TSXV: FWZ) is pleased to announce that drilling has begun on the Macmillan Pass Project. The Phase 1 program is planned for 2,000 meters of core drilling and other work with the main objectives of verifying and bringing the historic mineral resources on both the Tom and Jason zinc-lead-silver deposits to current standards, as well as drilling of step out holes from the known zones to expand on historic work (see Fireweed news release dated June 1, 2017 for details of the historic mineral resources).
Phase 1 exploration work also includes re-sampling of select historic drill core to confirm assays from previous work, surface mapping and geochemical sampling in exploration for new discoveries, surveying to accurately locate old and new drill hole locations, airborne LiDAR surveying to produce an accurate topographic map of the property, and compilation of historical data. The results of the drilling and other work will be used to complete an updated NI 43-101 resource estimate before year end. Fireweed then plans to undertake a Preliminary Economic Assessment to evaluate project economics which is expected to be completed in the first half of 2018.
The technical information in this news release has been reviewed and approved by Brandon Macdonald, P.Geo, a 'Qualified Person' as defined under Canadian National Instrument 43‑101.
About Fireweed Zinc Ltd.: Fireweed Zinc is a new public mineral exploration company focused on zinc and managed by a veteran team of mining industry professionals. This summer the Company will be advancing its Macmillan Pass Zinc Project where it has an option to acquire 100% of the Tom-Jason property in Yukon, Canada. The project is host to the large, advanced Tom and Jason zinc-lead-silver deposits and surrounding exploration ground with significant upside exploration potential and road access.
ON BEHALF OF FIREWEED ZINC LTD.
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.
This news release contains "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, 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 supervision, 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.
SOURCE Fireweed Zinc Ltd.
For further information: Brandon Macdonald, 604.646.8360