“With both zinc and tungsten being designated as critical minerals by Canada, the US, and the EU, Fireweed is positioned to be a significant critical minerals player on the world stage and to help enable the transition to a sustainable low-carbon economy and secure supply chains.” Macdonald, a professional geologist with diverse experience in worldwide geology exploration and investment banking, says everything is pointing in the right direction for success. The company also boasts the support of a strong and seasoned executive team, as well as funding from strategic investors including Teck Resources, one of the world’s pre-eminent zinc mining companies, and Ibaera Capital, a private equity fund that specializes in future-facing minerals investment. “With these studies on the horizon, there are a multitude of exciting catalysts in the near term.” says Macdonald. “This project is at a much earlier stage, but based on historical data, it shows intriguing upside potential.” says Macdonald.Ĭurrent plans are to publish new mineral resource studies at the two flagship sites to demonstrate the scale of the zinc and tungsten resources, as well as pursue additional studies on potential economics at each project alone and in combination. Not only are there opportunities for shared capital assets, such as a power lines and access roads, but there are also possible significant operating synergies from mining fleets to waste management and more.”įireweed also has 100 per cent ownership of the Gayna River Zinc-Gallium-Germanium Project, located 180 kilometres north of the Macmillan Pass Project, where there are significant critical minerals like zinc, gallium, and germanium, as well as lead and silver. “It is an unusual geological coincidence that one of the world’s largest zinc projects and one of the world’s largest and highest-grade tungsten deposits should be located so close to one another. The fact that the projects are adjacent to each other provides enormous operational and capital expense benefits, explains Macdonald. Fireweed has been conducting large drill programs since 2017, as well as working towards updated economics and eventual permitting. The project includes large blocks of adjacent claims with known showings and significant upside exploration potential. The Macmillan Pass Zinc-Lead-Silver Project is home to the Tom, Jason, and zinc-lead-silver zones. The significant projected demand growth, combined with a decade-long underinvestment in supply, has created an urgent situation.”ĭrilling at the project during the night. “Countries such as Canada, USA, the EU countries, and others have created a legal framework to encourage and support domestic supply of critical metals, including zinc and tungsten. “Critical metals are not ‘nice to haves,’ they are absolutely essential for our economies and modern society,” explains Macdonald. As the hardest metal with the highest melting point, tungsten is important for use in the automotive, technology, energy, military, and manufacturing industries. Zinc is primarily used in the galvanizing process, to protect iron and steel from rusting, and is an essential component in wind turbines, solar panels, and electric cars. Fireweed is ramping up its projects, as global upheavals create an opportunity to develop a reliable Western source of zinc and tungsten.īoth metals play a key role in the global economy and in the transition to a low-carbon economy. The move comes amid global instability and a move away from reliance on China, which currently produces about one-third of the world’s zinc and 80 per cent of the world’s tungsten.
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