Fireweed Zinc (FWZ.V) has now outlined its plans for a C$8M work program on its MacMillan Pass zinc-lead project in Canada’s Yukon Territories. The bulk of the money will be spent on a three-rig 10,000 meter drill program to increase the total tonnage of the project. Not only will Fireweed drill step-out holes to figure out the extent of the already known mineralization, it will also focus on upgrading inferred resources into the measured and indicated categories (which is a requirement for the mine plan in a feasibility study). A third focus of the drill program will be on trying to make new discoveries on the 470 square kilometer land package.
This will actually be the first regional scale exploration program to be conducted in the greater MacMillan Pass region in the past 25 years, so it will be really interesting to see what Fireweed Zinc can come up with. The company has made tremendous progress since its IPO, approximately one year ago, and this culminated in an updated resource estimate and a Preliminary Economic Assessment, beating its main competitors (for attention and money) Vendetta Mining (VTT.V) and Tinka Resources (TK.V). This year’s exploration program will be the next step to unlock the full value of the MacMillan Pass project.
Go to Fireweed’s website
The author has a long position in Fireweed Zinc. Please read the disclaimer
