MS – massive sulphide; SM – semi massive sulphide; V – vein; R – replacement; L – laminated; incl. – including.
1True widths of stratiform, laminated mineralization, and semi-massive or massive sulphide mineralization are estimated to be approximately 30 to 80% of intersected widths. Vein-hosted mineralization is interpreted to be a stockwork style with an undetermined true thickness.
†Low recovery zone, core recovery indicated in parentheses.
A total of 5% assay standards or blanks and 5% core duplicates are included in the sample stream as a quality control measure and are reviewed after analyses are received. Standards and blanks in 2021 drill results to date have been approved as acceptable. Duplicate data add to the long-term estimates of precision for assay data on the project and precision for drill results reported is deemed to be within acceptable levels. Samples were sent to the Bureau Veritas preparation laboratory in Whitehorse, Yukon, where the samples were crushed and a 500 g split was sent to the Bureau Veritas laboratory in Vancouver, B.C to be pulverized to 85% passing 200 mesh size pulps. Clean crush material was passed through the crusher and clean silica was pulverized between each sample. The pulps were analyzed by 1:1:1 Aqua Regia digestion followed by Inductively Coupled Plasma Mass Spectrometry (ICP-ES/ICP-MS) multi-element analyses (BV Code AQ270). All samples were also analyzed for multiple elements by lithium borate fusion and X-ray fluorescence analysis (XRF) finish (BV Code LF725). Over-limit Pb (>25.0%) and Zn (>24.0%) were analyzed by lithium borate fusion with XRF finish (BV Code LF726). Silver is reported in this news release by method AQ270, and zinc and lead are reported by LF725 or LF726. Bureau Veritas (Vancouver) is an independent, international ISO/IEC 17025:2005 accredited laboratory.
Results in this news release are length and bulk-density weighted averages as would be used in a Mineral Resource estimate. Readers are cautioned that in Fireweed news releases prior to 2020, only length weighted assay averages were reported which may result in slightly lower (under-reported) average values. Length and bulk-density weighted averages have been reported as these most accurately represent the average metal-content of the intersections.
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.
Hiring of Investor Relations Firm and Grant of Stock Options
Fireweed announces that it has retained Peak Investor Marketing Corp. (“Peak”) of Vancouver, Canada to assist the Company with marketing, investor relations and related advisory services. Under terms of the contract, Peak will be paid a service fee of $12,000 per month for a minimum of three months and will be granted 30,000 stock options priced at market. The stock options will vest over 12 months as to 25% every three months as required under TSX Venture Exchange policies. The grant of these stock options is subject to required approvals including the TSX Venture Exchange.
The Company also announces that it is granting, pursuant to its stock option plan, a total of 45,000 stock options priced at market for a five-year term to a new employee.
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 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.
Map 1: Location of Macmillan Pass deposits and exploration targets.
Table 3: 2021 drill collar details
*UTM Zone 9 NAD83. Final RTK GPS surveyed.
Corporate Presentation Corporate Factsheet 43-101 Resource Report 43-101 Preliminary Economic Assessment Yukon Geoscience 2022 Presentation