Fireweed Metals acquires Harvest claims, strengthening position in District with high mineralization potential.

From GlobeNewswire: 2025-01-16 08:30:00

Fireweed Metals Corp. has acquired the Harvest claims from Strategic Metals Limited, strengthening its position in the District. The 42 Harvest Claims cover approximately 8.77 km2 of land on the northern side of Fireweed’s Macpass property. The area shows potential for high-grade zinc mineralization and other mineral deposits.

CEO Peter Hemstead expressed excitement about the acquisition, stating that it fills a crucial gap within the core of the Macpass property. The Harvest Claims offer significant exploration potential for zinc, lead, silver, and gold mineralization. Fireweed plans to conduct detailed surveys and drilling to unlock the area’s full potential.

Historical soil sampling data reveals zinc-in-soil anomalies on the Harvest Claims, with potential for gold mineralization and high-grade massive sulphide mineralization. Fireweed’s acquisition includes a cash payment of C$150,000 to Strategic Metals, issuance of Fireweed shares, and a Net Smelter Return royalty on future production.

Fireweed’s agreement with Strategic Metals for the Harvest Claims involves a cash payment, share issuance, and a Net Smelter Return royalty. The company retains the option to buy back a portion of the royalties for C$1,000,000. No finder’s fees were paid in connection with the transaction, and there are no relationships between Fireweed and the sellers.

The Harvest Claims are strategically located within a known mineralized belt, with the same geological features as high-grade mineralization at the Boundary Zone. Fireweed plans to conduct detailed exploration activities to unlock the full potential of the claims, including soil geochemical surveys and reconnaissance drilling.



Read more at GlobeNewswire: Fireweed Metals Acquires Strategic Land Package