Fireweed Metals
Fireweed Metals Corp. is a Canadian mineral exploration company advancing critical metals projects in northern Canada, including the world's largest high-grade tungsten deposit (Mactung) and a major undeveloped zinc resource (Macmillan Pass), serving strategic investors and US/Canadian government critical minerals programs.
- Company typePublic
- Founded2021
- HeadquartersVancouver, Canada
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Fireweed Metals does
Fireweed Metals Corp. is a Canadian mineral exploration and development company focused on critical metals projects in northern Canada. The company holds 100% interest in the Macpass District, a 985 km² land package in Yukon and Northwest Territories, and operates three principal projects: the Macmillan Pass zinc-lead-silver project (with Indicated and Inferred mineral resources of 21 Mt and 39.47 Mt respectively, and an existing Preliminary Economic Assessment), the Mactung tungsten project (41.5 Mt Indicated Resource at 0.73% WO3 and 12.2 Mt Inferred Resource at 0.59% WO3, identified as the world's largest high-grade tungsten deposit outside China), and the Gayna River zinc-gallium-germanium project (~128 km²) in Northwest Territories. The company is exploring a proprietary Kipushi-style geological model for carbonate reef-hosted massive sulphide targets at Gayna. Core technical methods comprise diamond drilling, ground gravity geophysical surveys, LiDAR topographic surveys, and metallurgical testing, with active drill programs scaling from 7,000m in 2022 to 22,500m in 2023.
Fireweed is pre-revenue and does not sell commercial products. Its business model is sales-led in the capital-raising sense: the company funds exploration and development through private placements, public offerings, and government grants rather than product revenue. Cumulative capital raised since 2021 exceeds $200M, including a $61.5M March 2026 placement at a $520M pre-money valuation. Primary counterparties are strategic investors (JX Advanced Metals ~5%, Lundin Family Trusts ~22.9%, Teck Resources, Ibaera Capital) and government agencies (US Department of Defense DPA Title III, joint US-Canadian critical minerals program, Natural Resources Canada). An investor rights agreement with JX provides offtake, anti-dilution, and secondment rights. The company trades on TSX Venture (FWZ), OTCQX (FWEDF), and Frankfurt (M0G).
Fireweed is a Lundin Group company, with the Lundin Family Trusts as the largest shareholder and Adam Lundin on the Board of Directors. Corporate headquarters are in Vancouver, BC, and the company is incorporated in British Columbia. A tier-one engineering consortium (Wood Canada, SLR Consulting, Ausenco, Worley, Knight Piésold, Lorax Environmental) was assembled in March 2026 to deliver the Mactung Feasibility Study. An Exploration and Collaboration Agreement with the Ross River Dena Council secures free, prior and informed consent through the Tū Lídlīni Assessment Process, materially de-risking Indigenous permitting within Kaska Nation Traditional Territory. Leadership includes CEO Ian Gibbs, with Ron Hochstein, Paul Harbidge, and Wojtek Wodzicki among the directors.
Fireweed Metals firmographics
Firmographics- Name
- Fireweed Metals
- Legal name
- Fireweed Metals Corp.
- Website
- https://fireweedmetals.com
- Company type
- Public
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Fireweed Metals Corp. is a Canadian mineral exploration company advancing critical metals projects in northern Canada, including the world's largest high-grade tungsten deposit (Mactung) and a major undeveloped zinc resource (Macmillan Pass), serving strategic investors and US/Canadian government critical minerals programs.
- Ownership category
- akta.pro rank
Fireweed Metals industry classification
Industry- Product category
- Mineral Exploration and Resource Development
- NAICS
- Support Activities for Metal Mining (213114), Support Activities for Mining (2131), Geophysical Surveying and Mapping Services (541360)
- SIC
- Metal Mining (1000)
- akta.pro primary industry
- Exploration & Resource Development (Critical Minerals) (IMAKAFAL)
Keywords
Where Fireweed Metals is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
Fireweed Metals business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Equity Financing / Capital Raises: Pre-revenue exploration company. Revenue is generated through equity financings including private placements and public offerings. The company has completed multiple financing rounds including $61.5M (2026), $43M (2024), $16.8M (2023), $27.5M (2022), $9.68M (2022), and $5.18M (2021).
- Government Grants and Funding: The company receives government funding for critical minerals projects, including US$15.8M from US Department of Defense under DPA Title III for Mactung tungsten project, C$35.4M in joint US-Canadian government funding, and C$12.9M from Natural Resources Canada for North Canol infrastructure planning.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels8 records
Fireweed Metals product offering
Product offeringCore offering
Fireweed Metals is a Canadian mineral exploration and development company advancing three critical metals projects in northern Canada: the Macmillan Pass (Macpass) zinc-lead-silver district in Yukon, the Mactung tungsten project on the Yukon-NWT boundary (world's largest high-grade tungsten deposit), and the Gayna zinc-lead-silver-gallium-germanium project in the Northwest Territories. The company uses diamond drilling, geophysical surveys, metallurgical testing, and a novel Kipushi-style exploration model to advance resources through exploration, Preliminary Economic Assessment, and Feasibility Study stages. The company is pre-revenue and is currently advancing Mactung into a Feasibility Study supported by US Department of Defense and Canadian federal government funding.
Product overview
Fireweed Metals is an exploration company focused on critical metals projects in Northern Canada. The company operates three main exploration projects: the Macmillan Pass (Macpass) zinc-lead-silver project in Yukon, the Mactung tungsten project located adjacent to Macpass on the Yukon-NWT boundary, and the Gayna zinc-lead-gallium-germanium project in Northwest Territories. These projects are focused on developing significant mineral resources for critical metals including zinc, lead, silver, tungsten, gallium, and germanium. The company is 100% owner of the Macpass District, a 985 km2 land package, and is advancing these projects through exploration drilling, resource estimation, and feasibility studies.
Differentiator
Problem solved
Functional benefit
Products and services
- Mactung Tungsten Project The Mactung Tungsten Project is a mineral exploration and development project located on the Yukon-Northwest Territories boundary. It contains 41.5 Mt Indicated Resource at 0.73% WO3 and 12.2 Mt Inferred Resource at 0.59% WO3, making it one of the largest and highest-grade undeveloped tungsten resources outside China. The project is currently being advanced through a Feasibility Study supported by US Department of Defense Defense Production Act funding.
- Macmillan Pass (Macpass) Zinc-Lead-Silver Project The Macmillan Pass Project is a district-scale zinc-lead-silver exploration project in Yukon, Canada. It hosts the Tom and Jason zinc-lead-silver deposits with current Mineral Resources (21 Mt Indicated and 39.47 Mt Inferred) and a completed Preliminary Economic Assessment. Additional drilled mineralization at Boundary Zone, Tom North and End Zone represents further resource expansion potential.
- Gayna Zinc-Lead-Silver-Gallium-Germanium Project The Gayna Project is a zinc-lead-silver-gallium-germanium exploration project located in Northwest Territories, Canada. It has exploration potential for high-grade massive sulphide mineralization with targets including zinc, lead, silver, gallium and germanium. The project applies a novel Kipushi-style geological model targeting carbonate reef-hosted mineralization not previously tested by historical vertical drill programs.
Quantifiable outcome
- Mactung identified as world's largest high-grade tungsten deposit with 41.5 Mt Indicated Resource at 0.73% WO3
- +2 more outcomes
Companies that use Fireweed Metals
Customer profileSegments2 records
Ideal customer profiles3 records
Fireweed Metals technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Fireweed Metals partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core.
- Wood Canada LimitedcoreWood Canada Limited appointed as Lead Study consultant for Mactung Feasibility Study, 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.
- SLR Consulting (Canada) Ltd.coreSLR Consulting (Canada) Ltd. leads the Mineral Resource Estimate update for Mactung, incorporating over 11,000 metres of 2025 drilling and approximately 40,000 metres of historical data into the new geological model.
- Ausenco Engineering Canada ULCcoreAusenco Engineering Canada ULC leads process plant design, metallurgical testwork program, and flowsheet development for Mactung. The team brings extensive global expertise in tungsten processing.
- Worley Canada Services Ltd.coreWorley Canada Services Ltd. leads mine design, optimization, planning, and cost estimation for Mactung, bringing deep project familiarity and full study lifecycle experience in northern Canada.
- Knight Piésold Ltd.coreKnight Piésold Ltd. leads geotechnical design of waste and water management structures and provides geomechanical design support for the underground mine at Mactung.
- Lorax Environmental Services Ltd.coreLorax Environmental Services Ltd. leads development of site-wide water balance, feasibility-level groundwater model, and water quality model for Mactung with expertise in groundwater characterization and geochemical source terms.
- Ross River Dena CouncilcoreFireweed Metals and Ross River Dena Council signed a comprehensive Exploration and Collaboration Agreement for the Mactung and Macpass projects within Kaska Nation Traditional Territory in Yukon. The agreement formalizes collaboration mechanisms, protects culturally significant sites, provides capacity funding, and commits Fireweed to obtaining free, prior and informed consent through the Tū Łídlīni Assessment Process before proceeding with mining operations.
Scale indicators16 records
Recent moves6 records
Expansion highlights7 records
Fireweed Metals competitors and assessment
Company assessmentDirect peers
- NGEx Minerals: Lundin Group-affiliated explorer/developer of copper-gold projects in South America. Comparable as a Lundin-backed critical-minerals explorer using the same institutional capital, governance, and project-advancement playbook as Fireweed.
- Trilogy Metals: Critical minerals explorer focused on copper, zinc, lead, and silver in northern Canada/Alaska (Upper Kobuk Mineral Projects). Closely comparable to Fireweed as a district-scale, northern critical-minerals developer reliant on government partnerships and strategic investors.
- Filo Corp: Lundin Group-affiliated developer of the Filo del Sol copper-gold-silver project on the Chile-Argentina border. Comparable as a Lundin-sponsored exploration/development-stage miner advancing a district-scale deposit toward feasibility with strategic investor support.
- Foran Mining: Canadian developer of the McIlvenna Bay copper-zinc project in Saskatchewan. Comparable as a Canadian critical-minerals (Cu-Zn) developer transitioning from exploration/PFS toward feasibility and construction, with similar capital-raise cadence and project-financing risk profile.
Emerging players
- Canada Nickel Company: Canadian critical-minerals developer of nickel-cobalt-PGE projects in Ontario. Comparable as a Canadian single-commodity critical-minerals developer pursuing government backing and strategic investor partnerships to advance a large-scale project toward production.
- Denison Mines: Canadian uranium developer with significant Lundin Group sponsorship. Comparable to Fireweed in terms of public-market structure, Lundin-affiliated governance, and reliance on equity financings and government partnerships to advance a flagship critical-minerals asset.
- FPX Nickel: Canadian critical-minerals developer of the Baptiste nickel project in BC using awaruite mineralogy. Comparable as a publicly listed Canadian critical-minerals developer with government support, a single flagship project, and a multi-year path to feasibility/construction.
- Skeena Resources: Canadian precious/base-metals developer advancing the Eskay Creek gold-silver project in BC. Comparable as a publicly listed Canadian developer in advanced exploration/feasibility stages with comparable capital-raise cadence and project-financing dynamics.
Broad incumbents
- Almonty Industries: Global tungsten developer/producer (Sangdong mine in South Korea, Portuguese assets). Most direct publicly traded tungsten peer to Fireweed's Mactung project; useful comparator for tungsten project economics, offtake structures, and strategic-asset valuations.
- Hudbay Minerals: Established Canadian base-metals producer with zinc and copper operations in Manitoba and British Columbia. Comparable as a Canadian zinc-focused operator; relevant as a longer-term benchmark and potential strategic/regional acquirer of Fireweed's Macpass assets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Fireweed Metals social profiles
Digital presenceFireweed Metals financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fireweed Metals leadership team
Management profileNumber of profiles
Profiles11 records
Fireweed Metals funding detail
Funding detailFunding overview
Funding rounds18 records
Investors12 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fireweed Metals M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fireweed Metals
What does Fireweed Metals do?
Fireweed Metals is a Canadian mineral exploration and development company advancing three critical metals projects in northern Canada: the Macmillan Pass (Macpass) zinc-lead-silver district in Yukon, the Mactung tungsten project on the Yukon-NWT boundary (world's largest high-grade tungsten deposit), and the Gayna zinc-lead-silver-gallium-germanium project in the Northwest Territories. The company uses diamond drilling, geophysical surveys, metallurgical testing, and a novel Kipushi-style exploration model to advance resources through exploration, Preliminary Economic Assessment, and Feasibility Study stages. The company is pre-revenue and is currently advancing Mactung into a Feasibility Study supported by US Department of Defense and Canadian federal government funding.
Is Fireweed Metals a public or private company?
Fireweed Metals is a public company. It is classified as public and is currently operating.
When was Fireweed Metals founded?
Fireweed Metals was founded in 2021. It employs 1 to 10 people.
Where is Fireweed Metals based?
Fireweed Metals is headquartered in Vancouver, Canada, in the North America region.
How does Fireweed Metals make money?
Two revenue lines are on record. Equity Financing / Capital Raises are the primary driver. The others are government Grants and Funding.
Who are Fireweed Metals's main competitors?
Direct peers on record are NGEx Minerals, Trilogy Metals, Filo Corp and Foran Mining. Emerging players are Canada Nickel Company, Denison Mines, FPX Nickel and Skeena Resources. Broad incumbents are Almonty Industries and Hudbay Minerals.
Does Fireweed Metals have an API?
No public API is recorded for Fireweed Metals.
What industry is Fireweed Metals in?
Fireweed Metals's product category is Mineral Exploration and Resource Development. Its primary akta.pro industry code is IMAKAFAL, Exploration & Resource Development (Critical Minerals). Its NAICS code is 213114 and its SIC code is 1000.