Yukon-focused explorer Fireweed Zinc (TSXV: FWZ; US-OTCQB: FWEDF) has rebranded into Fireweed Metals Corp. to reflect its metamorphosis into a critical minerals-focused company.
The name change follows its early June acquisition of the Mactung Tungsten project in Yukon and the Northwest Territories for C$15 million ($11.6m). The project is close to the company’s flagship Macmillan Pass zinc-lead-silver project, where it is mobilizing crews for a C$10 million ($7.8m) summer drilling program.
Company CEO Brandon Macdonald tells The Northern Miner on a recent Yukon site visit that the Mactung tungsten skarn deposit’s acquisition has transformed Fireweed into one of the leading critical mineral exploration companies.
“We are excited to be advancing both projects under the Fireweed umbrella to maximize value for Fireweed’s stakeholders,” said Macdonald in an interview.
“Our flagship Macmillan Pass project is one of the world’s most significant undeveloped zinc projects. Nearby, our recently acquired Mactung project is one of the world’s largest and highest-grade tungsten deposits. We recently acquired the Gayna River zinc-gallium-germanium project to the north.
“All our projects are in the safe jurisdiction of Canada. With zinc and tungsten designated as critical minerals by Canada, the U.S., and the E.U., Fireweed is positioned to be a significant critical minerals player on the world stage and help enable the transition to a sustainable low-carbon economy,” said Macdonald.
The 37.6-sq-km Mactung property is adjacent to Fireweed’s flagship Macmillan Pass property. It is also 13 km north of the company’s Tom deposit and is accessible by Yukon’s North Canol Highway or by the government-maintained Macmillan Pass airstrip near the Tom site.
It is located within the traditional territories of the Kaska Dena, the Na-Cho Nyäk Dun First Nation in Yukon, and the Sahtú Settlement Area in N.W.T.