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Fireweed Zinc acquires Gayna River Zinc project

Published by
Global Mining Review,


Fireweed Zinc Ltd. has announced its acquisition of the Gayna River Zinc project located in Northwest Territories, Canada. The Gayna River project contains the critical metals zinc, gallium, and germanium in addition to lead and silver.

Highlights:

  • Fireweed has acquired the Gayna River project at very low-cost by staking 128.75 km2 of mineral claims in NWT.
  • 28 000 m of historic drilling by Rio Tinto outlined impressive large-tonnage exploration targets.
  • The geological environment has globally unique similarities to the very-high grade Kipushi mine.
  • Recent academic studies indicate potential for very-high grade massive sulfide targets which were not recognised by previous owners.

Fireweed CEO Brandon Macdonald comments:

“The acquisition of the Gayna River project by staking is a low-cost way for Fireweed to expand our portfolio of Critical Metals projects and add some exciting exploration potential. While our focus remains on our flagship Macmillan Pass project, we are keen to explore Gayna River where we see the potential for high-grade massive sulphide mineralisation. I see a similar story unfolding at Gayna River as MacPass, where Fireweed can build upon historic exploration and use modern scientific understanding of deposit genesis to unlock a potentially world-class district.”

Dr. Jack Milton, Fireweed Chief Geologist, comments:

“We are excited to put the exploration methods we have honed so successfully at Macmillan Pass to use in a whole new search space at Gayna River. Leveraging our experience with gravity surveys, muon-tomography, and cutting-edge inversions, we can enable exploration for what has been previously difficult to find – the high-grade centres of large zinc systems. With this new technology we expect to target high-grade massive sulfides with better precision and at relatively low-cost, enabling a new wave of zinc exploration and revitalising activity at this well-renowned zinc district.”

Read the article online at: https://www.globalminingreview.com/mining/12052022/fireweed-zinc-acquires-gayna-river-zinc-project/

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Silver mining news Canadian mining news North American mining news