{"id":3000,"date":"2025-08-27T07:59:42","date_gmt":"2025-08-27T14:59:42","guid":{"rendered":"https:\/\/fireweedmetals.com\/?p=3000"},"modified":"2025-08-27T07:59:43","modified_gmt":"2025-08-27T14:59:43","slug":"fireweed-signs-funding-agreement-with-the-government-of-canada-valued-at-12-9m-to-advance-planning-for-north-canol-road-and-power-improvements","status":"publish","type":"post","link":"https:\/\/fireweedmetals.com\/fireweed-signs-funding-agreement-with-the-government-of-canada-valued-at-12-9m-to-advance-planning-for-north-canol-road-and-power-improvements\/","title":{"rendered":"Fireweed Signs Funding Agreement with the Government of Canada Valued at $12.9M to Advance Planning for North Canol Road and Power Improvements"},"content":{"rendered":"\n

Vancouver, British Columbia: FIREWEED METALS CORP. (\u201cFireweed\u201d or the Company\u201d) (TSXV: FWZ; OTCQX: FWEDF) is pleased to announce the signing of a Contribution Agreement with Natural Resources Canada (NRCan) to support planning for infrastructure improvements in the existing North Canol corridor, the key overland access route to Fireweed\u2019s critical mineral projects at Macmillan Pass near the Yukon and Northwest Territories border.<\/p>\n\n\n\n

Signing this agreement marks Fireweed\u2019s successful completion of NRCan\u2019s due diligence process for the Critical Minerals Infrastructure Fund (CMIF) contribution announced December 13, 2024. The Agreement provides $12.9M of funding for Fireweed to advance planning for regional road and transmission line infrastructure improvements proposed as the \u201cPlanning for North Canol Infrastructure Improvement\u201d (PNCII) project.<\/p>\n\n\n\n

Ian Gibbs, President and Chief Executive Officer, commented: \u201cConcluding this agreement reflects the Government of Canada\u2019s recognition that the critical minerals district at Macmillan Pass is of national importance. Our management team is well equipped and highly motivated to lead planning efforts for the proposed infrastructure improvements. We look forward to working collaboratively with federal, territorial, and Indigenous governments to shape North Canol corridor upgrades in ways that respect the land and create opportunities for communities.\u201d<\/p>\n\n\n\n

A Critical Minerals District at Macmillan Pass<\/p>\n\n\n\n

Macmillan Pass is a critical minerals district (the \u201cMacpass District\u201d), with two immediately-adjacent, best-in-class critical mineral projects being advanced by Fireweed. The Mactung Project (\u201cMactung\u201d) is the world\u2019s largest, high-grade tungsten deposit1,3<\/sup>, with contained tungsten metal within Mineral Resources equivalent to decades\u2019 worth of North America\u2019s anticipated tungsten demand. The Macpass Project (\u201cMacpass\u201d) is a district-scale collection of high-grade zinc deposits, forming one of the largest undeveloped zinc resources globally, while also containing the world\u2019s largest known accumulation of germanium and gallium as by-product metals1,2<\/sup>.<\/p>\n\n\n\n

Fireweed\u2019s Mactung tungsten project specifically is a mature, near-term critical minerals development opportunity, strongly aligned with the Canadian Critical Mineral Strategy and the US-Canada Joint Action Plan on Critical Minerals. Tungsten\u2019s unique properties make it indispensable for numerous industrial applications in aerospace, construction and defense, yet there has been no primary tungsten production in North America since 2015. Today, China accounts for over 80%4<\/sup> of global primary production and has recently introduced multiple measures to restrict tungsten exports. Foreign dependence for tungsten causes acute supply chain vulnerabilities to North America\u2019s industrial base and threatens its economic well-being.<\/p>\n\n\n\n

On December 13, 2024, the Company announced that it was awarded US$15.8M (~C$22.5 M) from the U.S. Department of Defense under Title III of the Defense Production Act of 1950 (\u201cDPA Title III\u201d).  Supported by the DPA Title III award, Fireweed is currently advancing the Mactung project to a Final Investment Decision by way of preparing a new Feasibility Study and seeking mine production licenses. Fireweed\u2019s vision for Mactung is to become the preferred and primary supplier of tungsten concentrate to the North American tungsten midstream.<\/p>\n\n\n\n

Addressing Regional Infrastructure Limitations<\/strong><\/p>\n\n\n\n

The North Canol corridor (Yukon Highway 6) is an infrastructure constraint for developing mineral assets at Macmillan Pass, including Mactung. The road\u2019s current condition poses challenges to future mine construction feasibility and concentrate haulage during operations, limiting access to regional transportation hubs. Additionally, the absence of power transmission infrastructure in the area prevents potential mining operations from accessing future clean energy sources.<\/p>\n\n\n\n

As part of the Contribution Agreement signed with NRCan, Fireweed will lead preliminary road and transmission line engineering designs within the existing road right-of-way, prepare and submit required environmental\/ socio-economic assessments and work toward multi-party agreements with federal, territorial, and Indigenous governments that enable the following future improvements:<\/p>\n\n\n\n