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Fireweed Metals Identifies New Targets at Gayna River, NWT, Following Completion of First Exploration Program
VANCOUVER, British Columbia, Nov. 17, 2022 (GLOBE NEWSWIRE) -- FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF, formerly Fireweed Z
About this update from Fireweed Metals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 17, 2022 (GLOBE NEWSWIRE) -- FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF, formerly Fireweed Zinc Ltd.) is pleased to announce the results from the 2022 initial exploration program at the Gayna River project, Northwest Territories, Canada (Figure 1). Highlights High-grade rock samples confirmed the presence of massive sulphide mineralization that also contains elevated gallium and germanium (all 8 grab samples graded better than 7% zinc, including one at 51% zinc; one of these samples also graded 74% lead). Soil samples confirmed the presence of a strong, 4 km x 1 km, historical zinc and lead soil anomaly (all 10 samples returned over 4,000 ppm lead including one sample containing 27.5% lead and 176 g/t silver). Results from a 52.7 line-km ground gravity survey have highlighted multiple potential drill targets. Completion of a LiDAR topographic survey over the entire 128.75 km2 property has generated accurate location data for future drilling and other exploration work. CEO Statement Brandon Macdonald, CEO, stated “The results from this year’s exploration program at Gayna River demonstrate that there is potential for high-grade massive sulphides here, consistent with our approach in exploring for Kipushi-style high-grade targets around the margins of these ancient carbonate reefs. The soil sampling confirmed the presence of a large lead anomaly at the Jaws target that could represent the top of a shallowly buried reef. This soil anomaly is large and intense—the Jaws target has a central area of 4 km x 1 km with soils over 100 ppm lead and peak values over 27% lead. The coincident geological, geochemical, and geophysical anomalies at both the Jaws target and the ABC showings are very favourable in terms of the potential for high-grade zinc-lead-silver mineralization in the near surface. With these excellent initial results, we are very excited to advance these targets further.” Ground gravity survey A 52.7 line-km ground gravity survey was completed over two areas identified as geologically favourable based on their proximity to carbonate reef rocks and possible buried reef margins (Figures 2 and 3). A relatively tight station spacing of 50 m was used since the project is being explored for a potential Kipushi-style target—high-grade mineralization on the steeply ...