Northwire Canada EditionSaturday, October 17, 2026
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GOLD 4181.10 +0.3% SILVER 57.30 +0.3% COPPER 6.57 +0.3% OIL 99.02 +1.1% PALLADIUM 1118.60 −0.9% GBU 0.095 +0.0% ATY 0.225 +4.7% GRDM 0.215 +0.0% PPM 0.300 +0.0% GZD 0.040 −11.1% CAN 0.060 +0.0% BGF 0.025 +0.0% MSV 0.570 +0.0% CCMM 0.485 +0.0% MON 0.385 −6.1% OMI 0.245 −2.0% BUFF 0.800 +2.6% FEO 0.630 −3.1% LIB 0.710 −1.4% NPR 0.620 +0.0% QZM 0.380 +0.0% GOLD 4181.10 +0.3% SILVER 57.30 +0.3% COPPER 6.57 +0.3% OIL 99.02 +1.1% PALLADIUM 1118.60 −0.9% GBU 0.095 +0.0% ATY 0.225 +4.7% GRDM 0.215 +0.0% PPM 0.300 +0.0% GZD 0.040 −11.1% CAN 0.060 +0.0% BGF 0.025 +0.0% MSV 0.570 +0.0% CCMM 0.485 +0.0% MON 0.385 −6.1% OMI 0.245 −2.0% BUFF 0.800 +2.6% FEO 0.630 −3.1% LIB 0.710 −1.4% NPR 0.620 +0.0% QZM 0.380 +0.0%
Drill Results Routine +

A 500%+ Metal, a Historic Tungsten Zone, and a Drill Program About to Test Both

Fireweed secures $61.5m in strategic funding to advance the mactung feasibility study as critical metals supply chains tighten.

By The Northwire Desk — AI Analysis Jun 03, 2026 · 08:49 FWZ · 4.58 Fireweed Metals Corp.
Executive Summary
  • The most recent release (June 3, 2026) announces a fully funded 2026 diamond drill program targeting the historic Kuhn tungsten zone on the Magno Project, alongside planned drilling at the Magno and D Zones for high-grade silver-lead-zinc carbonate-replacement mineralization.
  • The program aims to verify and expand a historically defined tungsten-bearing skarn system (~616,500 tonnes grading 0.48% WO₃) using twinning of historical holes, lateral/vertical extensions, and recent airborne magnetic and QMAGT geophysics.
  • This follows the May 29, 2026 announcement of a 30% expansion in airborne geophysical surveys and surface sampling returning up to 2,370 g/t Ag and 6,550 ppm W.
  • The June 3 release explicitly notes the historical estimate is not a current NI 43-101 resource, emphasizing verification and exploration rather than immediate resource definition.
  • Historical news progression shows a steady execution trajectory: 2025 field program launch (June 2025), $5.6M placement closure (June 2025), high-grade Zn/Pb/Ag intersections at Tom South (Sept 2025), Mactung high-grade WO₃ results and feasibility study kickoff (Nov 2025), Indigenous collaboration agreement (Feb 2026), and a $61.5M strategic private placement closing (Apr 2026).
Material Impact
  • The June 3 drill program announcement is a logical, expected follow-up to the May survey expansion and the April financing. It confirms management's commitment to advancing the Magno Project but does not introduce fundamentally new data or unexpected catalysts.
  • The company has successfully transitioned from exploration to pre-feasibility/feasibility stages at Mactung, secured critical government funding (US$15.8M DPA Title III, C$12.9M CMIF), and closed a $61.5M strategic placement with JX Advanced Metals and the Lundin Family.
  • The material impact is incremental rather than transformative. The fully funded status de-risks near-term operations, but the news itself is routine exploration planning. It aligns with previous expectations set by the March/April financing announcements and the May geophysical expansion.
  • No immediate change to valuation drivers is triggered by this specific release, as it merely schedules drilling that was already budgeted and anticipated.
FWZ · Price
Company Overview
  • Fireweed Metals Corp. is a critical metals explorer and developer focused on sustaining the low-carbon transition through high-grade zinc-lead-silver-gallium-germanium (Macpass) and tungsten (Mactung) assets in northern Canada.
  • Flagship Project: Mactung Tungsten Project (100% owned). It is recognized as one of the world's largest high-grade tungsten deposits. The project has a historic 2009 feasibility study, a 2014 environmental assessment, and is currently advancing an updated feasibility study targeting a Final Investment Decision (FID) in 2027.
  • Macpass Zinc-Lead-Silver District: A ~985 km² land package hosting world-class undeveloped zinc deposits with significant critical by-products (Gallium, Germanium). The 2024 MRE outlines 55.98 Mt Indicated at 7.27% ZnEq.
  • Gayna Project: Exploration-stage carbonate reef-margin zinc-lead-silver targets in the NWT, showing promising initial drilling results.
Read the original news release →

More from Fireweed Metals Corp.

Sep 15, 2026 · 17:00

Fireweed reports 64 m true width at 8.35% ZnEq at Tom South, falling below 2025 bonanza grade targets.

Drill Results Aug 10, 2026 · 21:26

Tom South step-out delivers 30 m of 8.09% ZnEq, a solid result that falls short of prior bonanza-grade holes.

Drill Results Jun 04, 2026 · 06:00

Fireweed Metals Commences 2026 Field Program

Drill Results May 29, 2026 · 09:10

Fireweed Locks in $61.5M War Chest; Lundin and JX Anchor a New Phase for Yukon’s Premier Critical Metals District

Drill Results Apr 02, 2026 · 19:44

Fireweed Metals closes $61.46-million private placement

Financings Apr 02, 2026 · 16:05

Advancing a district-scale critical minerals portfolio in Northern Canada with Tier-1 strategic backing.

Financings