Fireweed Metals Acquires Strategic Land Package

Deal News | Jan 16, 2025 | Globenewswire

Fireweed Metals Acquires Strategic Land Package

Fireweed Metals Corp., a prominent exploration company, announced its acquisition of 42 Harvest Claims from Strategic Metals Limited, further solidifying its base in the Macpass District, a known rich zone for barite-zinc-lead-silver deposits. The claims span approximately 8.77 km² and are strategically located within a belt known for significant zinc-in-soil anomalies and high-grade massive sulphide mineralization. This acquisition is critical to Fireweed's strategy of bolstering its footprint within the prolific Selwyn Basin, with the aim of unlocking substantial mineral potential. The purchase agreement involved a cash payment of C$150,000, issuing 147,888 shares to Strategic Metals, and a net smelter return royalty. The acquisition does not affect any non-arm’s length parties. Fireweed intends to conduct comprehensive explorations, including soil geochemical surveys and drilling, to uncover the full potential of these claims. The acquisition aligns with Fireweed's strategic vision of maximizing resources to create sustainable value in the mining sector.

Sectors

  • Mining
  • Metals and Minerals

Geography

  • Canada – Fireweed Metals is based in Vancouver, British Columbia, and the Macpass Project is located in Northern Canada, making the geographical focus of the acquisition and exploration activities Canadian.

Industry

  • Mining – The article is primarily about the acquisition of mineral-rich land claims, which is a core activity in the mining industry. Fireweed Metals' exploration efforts focus on unlocking the mineral potential of zinc, lead, silver, and gold, key components of mining activities.
  • Metals and Minerals – The strategic acquisition is centered around zinc, lead, silver, and potential gold mineralization, which falls under the metals and minerals sector. This sector is crucial for the supply chain of various industries, including construction and manufacturing.

Financials

  • C$150,000 – The cash payment made by Fireweed Metals Corp. to Strategic Metals Limited as part of the acquisition deal.
  • 147,888 shares – The number of shares issued by Fireweed Metals Corp. to Strategic Metals Limited as part of the acquisition agreement.

Participants

NameRoleTypeDescription
Fireweed Metals Corp.Acquiring CompanyCompanyFireweed Metals Corp. is a mineral exploration company focused on unlocking value in a new critical metals district located in Northern Canada.
Strategic Metals LimitedSelling CompanyCompanyStrategic Metals Limited is involved in selling mineral claims, facilitating the acquisition by Fireweed Metals Corp.
Peter HemsteadCEO & DirectorPersonPeter Hemstead is the Interim President and CEO of Fireweed Metals Corp., leading the company's strategic initiatives.