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Fireweed Metals’ (TSXV: FWZ) shares reached an all-time high this week following significant drill results at the Macpass project in Yukon, which extended high-grade zinc mineralization in a 115-metre step-out hole. The company’s stock surged 6.6% to C$3.06 on Thursday, reaching C$3.07 on Friday, reflecting a market capitalization of C$642.6 million.
Drill hole TS25-001D1 in the Tom deposit revealed 54.8 metres grading 18.2% zinc, 13.9% lead, and 161 grams of silver per tonne from a depth of 892 metres. This included a notable interval of 40.4 metres grading 22.4% zinc, 17.7% lead, and 208.2 grams of silver. The Macpass project is noted to contain 56 million indicated tonnes with an overall resource value estimated at C$448 million.
The drilling program, employing six rigs this year, indicates that the mineralization zone is open both up and down dip, enhancing the project’s exploration potential. The Macpass project features significant inferred resources, adding to its status as one of Canada’s largest undeveloped zinc deposits.
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