Fireweed Metals Commences Mactung Tungsten Project Feasibility Study
MWN-AI** Summary
Fireweed Metals Corp. has initiated a feasibility study (FS) for its Mactung Tungsten Project, which it fully owns and is located in Yukon, Canada. This decision follows a successful field season in 2025. The company has engaged a team of expert engineering and technical consultants to enhance the project's development. The FS aims to deliver a comprehensive evaluation of the Mactung project, recognized as a premier tungsten deposit, notable for its superior grade and scale.
CEO Ian Gibbs expressed enthusiasm about advancing the project with experienced consultants who have a strong track record in project delivery and regulatory compliance in the challenging northern Canadian environment. The FS will utilize data from previous exploration projects and the latest findings from the 2025 drilling program, integrating various elements such as geological, metallurgical, and environmental data.
Key appointments include Wood Canada Limited, serving as the lead consultant for study integration and infrastructure engineering. SLR Consulting (Canada) Ltd. will update the mineral resource estimate, working alongside Fireweed's geology team. Ausenco Engineering Canada ULC will lead the design of processing plants and metallurgical programs, while Worley Canada Services Ltd. will oversee mine design and planning. Knight Piésold Ltd. will handle geotechnical designs pertaining to waste and water management, and Lorax Environmental Services Ltd. will develop water management models.
The FS is expected to be completed by early 2027 and will aid in advancing mine licensing applications anticipated for submission in the same year. Fireweed is strategically focused on becoming a significant player in the critical metals sector, holding a large land package in the Macpass District.
MWN-AI** Analysis
Fireweed Metals Corp. has embarked on a critical phase for its Mactung Tungsten Project, engaging top-tier engineering firms to conduct a comprehensive Feasibility Study (FS). This marks a substantial progression toward operationalizing what is deemed the world's premier tungsten deposit. Investors should analyze this development closely, as it may impact both stock performance and market sentiment toward the tungsten sector.
The engagement of experienced consultants like Wood Canada and Ausenco is a strong indicator of Fireweed’s commitment to technical excellence. Wood’s role in infrastructure engineering and cost estimation will be vital in establishing a financially viable project, while Ausenco's expertise in tungsten processing is expected to yield an effective metallurgical flowsheet. With a focus on early extraction of high-margin feed, Fireweed is positioning itself to enhance its cost structure from the outset, which could prove attractive to potential investors.
Moreover, the completion of the FS by early 2027—which accounts for extensive historical data and recent drilling results—will provide pivotal insights into resource scalability and profitability. With tungsten demand projected to rise due to its crucial role in various industries, the timing of this feasibility study aligns with favorable market conditions.
Investors should also consider the geopolitical landscape. The support received through the U.S. Defense Production Act emphasizes the strategic importance of tungsten, possibly setting the stage for increased attention from institutional investors who prioritize resource equities.
In summary, Fireweed Metals presents a compelling opportunity within the critical metals landscape. As the firm progresses with its FS, stakeholders should remain attuned to developments and market metrics influencing tungsten pricing, capital requirements, and regulatory landscapes, as these will be key determinants of the company's valuation in the near to medium term.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Canada NewsWire
TSXV: FWZ
OTCQX: FWEDF
FSE: M0G
VANCOUVER, BC, March 9, 2026 /CNW/ - Fireweed Metals Corp. ("Fireweed" or the "Company") (TSXV: FWZ) (OTCQX: FWEDF) is pleased to report that it has engaged a team of internationally recognized engineering and technical consultants with extensive project delivery and licensing experience in the Yukon and northern Canada to complete an updated Feasibility Study ("FS") for its 100%-owned Mactung Tungsten Project (Yukon, Canada).
CEO Statement
Ian Gibbs, Fireweed President and CEO, stated: "Following our successful 2025 field season, we are engaging best in class consultants to complete an updated Feasibility Study. We are excited to continue advancing Mactung, the world's premier tungsten deposit, unmatched in grade and scale1. We are confident that with the consultants we've engaged, a technically robust FS will be completed early in 2027, to be utilized in further engineering and mine licensing efforts."
The FS will build upon extensive historical technical and field work, including the most recent 2025 field program, and will incorporate updated geological, metallurgical, mining, processing, infrastructure, and environmental designs.
Consultant Appointments
The Company has engaged the following consultants to lead and support the FS:
- Wood Canada Limited has been appointed as the Lead Study consultant and will be responsible for overall study integration, infrastructure engineering, capital and operating cost estimation, and execution planning. Wood has extensive experience delivering mining and infrastructure projects in remote northern climates, with strong expertise in cold-weather construction, engineering, and logistics.
- SLR Consulting (Canada) Ltd. will lead the Mineral Resource Estimate update and refinements to the geological domains, incorporating over 11,000 metres of 2025 drilling and approximately 40,000 metres of historical data into the new model. Working alongside Fireweed's geology team, SLR brings significant mineral resource modelling and production expertise to deliver the updated estimate.
- Ausenco Engineering Canada ULC will lead the process plant design, metallurgical testwork program, and flowsheet development and optimization. The team brings extensive global expertise in tungsten processing, a key focus for Fireweed, ensuring the development of a technically robust and reliable flowsheet.
- Worley Canada Services Ltd. will lead mine design, optimization, planning, and cost estimation. Having been involved in previous studies at Mactung, the team brings deep project familiarity, full study lifecycle experience, and proven mining expertise in northern Canada.
- Knight Piésold Ltd. will lead geotechnical design of waste and water management structures and provide geomechanical design support for the underground mine. Knight Piésold will apply extensive northern experience to advance designs in alignment with Yukon regulatory requirements through operations and closure.
- Lorax Environmental Services Ltd. will lead development of the site?wide water balance, feasibility?level groundwater model, and water quality model, supported by their broader hydrogeology, geochemistry, and mine water management mandate. With strong expertise in groundwater characterization, geochemical source terms, and integrated water modelling, Lorax will provide key inputs across the project lifecycle.
Work Programs Initiated
In parallel with consultant mobilization, the Company has already commenced the following key work programs:
- Block model update, including incorporation of recent drilling results and updated geological interpretations
- Mine planning and design, prioritizing early extraction of high margin mill feed for processing
- Metallurgical testwork and geometallurgical program, designed to support process selection, recovery, and variability modelling
- Execution planning
The FS is supported by a Department of War award made via Title III of the U.S. Defense Production Act of 1950 ("DPA Title III") and announced December 2024.
Mactung completed its environmental assessment in 2014, and the FS will support mine license applications expected to be submitted in 2027.
Qualified Person Statement
Technical information in this news release has been reviewed and approved by Fireweed Metals VP Exploration, Dr. Jack Milton, P.Geo. (BC), a 'Qualified Person' as defined under Canadian National Instrument 43-101 ("NI 43-101"). Dr. Milton is not independent of the Company in accordance with NI 43-101.
About Fireweed
Fireweed is an exploration company focused on unlocking value in a new critical metals district located in Northern Canada. Fireweed is 100% owner of the Macpass District, a large and highly prospective 985 km2 land package. The Macpass District includes the Macpass zinc-lead-silver project and the Mactung tungsten project. A Lundin Group company, Fireweed is strongly positioned to create meaningful value.
Fireweed trades on the TSX Venture Exchange under the trading symbol "FWZ", on the OTCQX Best Market under the trading symbol "FWEDF", and on the Frankfurt Stock Exchange under the trading symbol "M0G".
Additional information about Fireweed and its projects can be found on the Company's website at FireweedMetals.com and at www.sedarplus.com
ON BEHALF OF FIREWEED METALS CORP.
"Ian Gibbs"
CEO & Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements
Forward Looking Statements
This news release contains "forward-looking" statements and information ("forward-looking statements"). All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to interpretation of drill results, targets for exploration, potential extensions of mineralized zones, timing of completion of work programs and activities, and the potential of the Company's projects, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to, exploration and development risks, unanticipated reclamation expenses, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company's operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, uncertainties involved in the interpretation of drilling results and laboratory tests, and one-time events. The Company assumes no obligation to update forward?looking statements or beliefs, opinions, projections or other factors, except as required by law.
Footnotes and References
1 References to relative size, grade, and metal content of the Mactung resources and Macpass resources in comparison to other tungsten, zinc, gallium, and germanium deposits elsewhere in the world, respectively, are based on review of the Standard & Poor's Global Market Intelligence Capital IQ database. |
SOURCE Fireweed Metals Corp.
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FAQ**
What specific advancements in geological and metallurgical designs are being anticipated in the updated Feasibility Study for Fireweed Zinc Ltd FWEDF's Mactung Tungsten Project?
How does the expertise of the consulting firms engaged for the Feasibility Study enhance the credibility and feasibility of the Mactung Project for Fireweed Zinc Ltd FWEDF?
What are the expected timelines and milestones for the Feasibility Study and subsequent mine licensing applications for Fireweed Zinc Ltd FWEDF's Mactung Tungsten Project?
How will the company's decision to prioritize early extraction of high-margin mill feed impact the overall economics of the Mactung Tungsten Project for Fireweed Zinc Ltd FWEDF?
**MWN-AI FAQ is based on asking OpenAI questions about Fireweed Zinc Ltd (OTC: FWEDF).
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