Fireweed Zinc (TSXV: FWC; US-OTC: FWEDF) could leverage open pit mining to fund underground development at its 470 sq. km Macmillan Pass zinc-lead-silver project in the Yukon, according to its new preliminary economic assessment (PEA).
The company would start with three years of conventional truck-and-shovel mining at its Tom and Jason deposits before transitioning into underground mining by year four of the mine’s 18-year life.
Open pit mining would account for 13% of the total 32.7 million tonnes of material Fireweed would mine and process at Macmillan Pass.
Fireweed president and CEO Brandon Macdonald says starting with an open pit lowers the company’s initial capital expense.
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