Canada’s Fireweed Zinc has unveiled the signing of a binding letter of intent for the acquisition of 100 percent stake in the Mactung Tungsten project located in Yukon and Northwest Terri-tories, Canada. The asset is adjacent to the company’s Macmillan Pass zinc-lead-silver project.
“Mactung is one of the largest and highest-grade tungsten deposits in the world and one of the few potential sources of scale for this crit-ical metal outside of China,” the miner said in a statement. “Approxi-mately 38,000 m of historic drilling outlined a large, high-grade tung-sten resource and produced a positive historic feasibility study.”
Brandon Macdonald, the CEO of Fireweed Zinc, said that while “Mac-millan Pass continues to be our flagship project, the recent staking of Gayna River and the addition of Mactung turns Fireweed into one of the leading critical mineral exploration companies. We now have not only one of the largest undeveloped zinc resources in the world at our Macmillan Pass Project, but also one of the world’s largest and high-est-grade undeveloped tungsten projects at the advanced stage Mac-tung Project.”