Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Fireweed Metals (TSXV: FWZ) has reported additional assay results from its 2023 exploration at the Macmillan Pass project in the Yukon, as part of its largest drill program to date.
The company says multiple wide, high-grade zones of zinc-lead-silver mineralization have been intersected in a stratiform, laminated to massive sulphide zone at Boundary zone, part of an extensive sediment-hosted massive sulphide system.
One of the drill holes, NB23-007, intersected an upper zone of 82.5 metres with 11.9% zinc, 2.2% lead, and 81.2 g/t silver, including a section of 27 metres with 26.7% zinc, 4.2% lead, and 165.2 g/t silver. The same hole also intersected a separate lower zone of 118 metres with 15.1% zinc, 2.8% lead, and 85.8 g/t silver, including a section of 77 metres with 18.7% zinc, 3.5% lead, and 101.4 g/t silver.
Another drill hole, NB23-004, intersected 33.4 metres with 8.0% zinc, 2.0% lead, and 59.2 g/t silver, including a section of 13.9 metres with 12.6% zinc, 3.7% lead, and 99.4 g/t silver.
Assays are still pending for down-dip step-out intersections of massive sulphide with intersected thicknesses between 25 metres and 140 metres, and additional drilling is underway where the zone remains open at depth.
Fireweed CEO Brandon Macdonald said the results demonstrate the world-class potential of mineralization at Boundary zone and show continuity with Fireweed’s best-ever drillhole in terms of grade and length of mineralization.
