Fireweed Metals (TSXV: FWZ) has released a new 43-101 compliant resource estimate for its Mactung tungsten project in the Yukon and Northwest Territories.
The indicated category (both open pit and underground) contains 41.5 million tonnes grading 0.73 tungsten trioxide (WO3) and containing almost 301.6 million kg of WO3. The inferred portion (open pit and underground) totals 12.2 million tonnes at 0.59% WO3, containing 72.1 million kg of WO3.
The deposit also contains copper and gold byproducts in the portion amenable to underground mining. The indicated resource is 12.2 million tonnes grading 1.05% WO3, 0.058% copper, and 0.078 g/t gold, and the inferred resource is 2.8 million tonnes grading 0.73% WO3, 0.020% copper, and 0.017 g/t gold.
The Mactung project is 13 km north of Fireweed’s Macmillan Pass zinc-lead-silver project camp and airstrip. It was discovered and staked in 1962. It had many owners until 1997 when North American Tungsten acquired it. The project was given the environmental go-ahead in 2014, but the following year, North American was granted creditor protection (related to its Cantung mine to the south), and the territory purchased the property for C$4.5 million.
Earlier this year, Fireweed purchased the project for C$15 million in a staged arrangement.
