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Fireweed Zinc Ltd.
Summary
| Project: | Macmillan Pass | |
|---|---|---|
| Deposit: | Macmillan Pass | |
| Location: | Canada | |
| Commodities: | Zinc-Lead-Silver | |
| Date: | 5/23/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 23-5-2018: Fireweed Zinc Ltd. announces a PEA report for its Macmillan Pass deposit at the Macmillan Pass project. PEA results incl. post-tax NPV of US $448M (8%), IRR of 24%, 18yr LOM at the project. Vancouver, British Columbia: FIREWEED ZINC LTD. (“Fire | |
| Resources: | (Resource): 11.21Mt @ 9.61% ZnEq (Ind.) and 39.47Mt @ 10% ZnEq(Inf.) at project | |
| CP/QP: | [Overall Report]: Micheal Makarenko (JDS Energy and Mining Inc.) | |
| ABSTRACT: | Vancouver, British Columbia: FIREWEED ZINC LTD. (“Fireweed” or the “Company”) (TSXV: FWZ) is pleased to announce the positive results of an independent Preliminary Economic Assessment (“PEA”) for its Macmillan Pass Project (the “Project”) in Yukon, Canada. The PEA was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) by JDS Energy and Mining, Inc. (JDS) with work on tailings and water by Knight Piesold Consulting, both of Vancouver, Canada “This first NI43-101-compliant PEA on the Macmillan Pass Project represents a significant step for the Company as we progress the Project towards production. Project economics in the PEA demonstrate that Macmillan Pass is not just viable at the zinc, lead and silver prices levels contemplated in the study, but highly robust,” commented Brandon Macdonald, Chief Executive Officer. “With consideration of the exploration upside not just at the known zones, but also within the broader land package, the Project is steadily shaping up to be a premiere district-scale zinc mining camp in the mining-friendly Yukon Territory. Initial material will be recovered at a rate of about 5,000 tonnes per day by conventional truck and shovel surface mining from both the Tom and Jason deposits. During the third year, production will transition to underground mining using Avoca-style sub-level retreat longhole (LH) stoping, vertical crater retreat (VCR) and alimak stoping. Stopes will be filled with a combination of waste rock and paste and cemented rock fill. | |
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