Fireweed Zinc (FWZ.V) has now released all drill results of its 2017 drill campaign (with some stellar intervals reported in a December update with for instance 38 meters (true width!) containing almost 16.5% zinc-lead, including 25 meters of 21% Zinc-Lead, which are amazing results).
The 2017 drill program was extremely successful as not only did it confirm the historical drill results, it also increased the expectations for the upcoming resource estimate. Hole 17 (with the assay results mentioned in the first paragraph) actually was an infill drill hole in between two known drill holes. Not only was the average grade exceptionally high, the interval was almost three times as wide as the historical model had anticipated (38 versus 14 meters on a true width basis).
On top of that, hole 6 (returning approximately 6% Zinc-Lead over a true width of 28.5 meters) was a step-out hole which expanded the mineralization below the Tom West zone by an additional 100 meters, and this zone remains open.
This could indicate Fireweed’s upcoming resource could be much better than anyone is anticipating right now given the high grade, wider intervals and higher levels of confidence compared to the 2007 report. We expect this resource update to be released within the next few weeks (perhaps right before the Vancouver Resource Investment Conference later this month), which will be the basis for a first Preliminary Economic Assessment. Although we would first like to see the resource estimate, it sure looks like the grade is making up for the relatively remote location of the project.
Go to Fireweed’s website
The author has a long position in Fireweed Zinc. Please read the disclaimer
