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Printed Oct 08, 2024 • 14 minute learn
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VANCOUVER, British Columbia, Oct. 08, 2024 (GLOBE NEWSWIRE) — FIREWEED METALS CORP. (“Fireweed” or the “Firm”) (TSXV: FWZ; OTCQX: FWEDF; FSE: M0G) is happy to report it has found mineralization at Popcorn, a brand new goal on the Macpass Undertaking, Yukon, Canada.
Highlights
- Vital intercepts at Popcorn of near-surface vein and substitute model mineralization, related in character to Boundary Zone together with:
- NB24-004 From 10.83 metre (“m”) downhole: 46.03 m at 4.88% zinc and three.6 grams per tonne (“g/t”) silver, together with 24.96 m at 8.27% zinc and 5.3 g/t silver
- NB24-002 From 15.75 m downhole: 54.75 m at 3.98% zinc and three.9 g/t silver, together with 8.85 m at 6.13% zinc and 4.4 g/t silver, and in addition together with 19.78 m at 6.71% zinc and 5.9 g/t silver
- Mineralization intersected throughout all seven holes drilled at Popcorn
- Positioned 600 m Northeast from Boundary Zone useful resource pit-shell, outdoors of the present Mineral Useful resource Estimate2
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CEO Assertion
Peter Hemstead, Interim President and CEO, acknowledged, “Popcorn represents the primary exploration success stemming from our regional exploration program this 12 months at Macpass. Figuring out near-surface zinc mineralization and defining its continuity lower than a kilometre from the pit-shell that constrains the useful resource at Boundary Zone is critical in establishing Popcorn as an thrilling exploration alternative. Along with being open in all instructions, there may be additionally potential for large sulphides, much like the feeder model mineralization seen at Boundary Zone, that we intend to discover sooner or later.”
Abstract
The seven drill holes on this launch (full outcomes out there in desk 1 on the finish of this launch) comprise 1476 m of drilling with intervals of vein and substitute model mineralization on the new Popcorn goal, 600 m northeast of the open pit-shell that constrains the useful resource at Boundary Zone. These holes had been focused round zinc floor mineralization in trenches and an remoted intercept from 1982. The 2024 drilling confirms the presence of mineralization near-surface in addition to establishes its continuity over a strike size of 200 m, open each alongside strike and at depth. The mineralization found at Popcorn defines a brand new zone that isn’t included inside Fireweed’s present Mineral Useful resource Estimate2. The model of mineralization in these drill holes is much like the vein and substitute intervals all through Boundary Zone which happen across the huge to semi-massive sulphides of the Higher Zone (“BZUZ”) and Prime Zone (“BZPZ”).
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Outcomes
All drilling at Popcorn in 2024 was profitable in intersecting vein and substitute model sulphides comprising sphalerite and minor galena. The model of mineralization signifies these sulphides are probably a part of the identical later part model of mineralization at Boundary Zone overprinting the large sulphides. The drilling establishes continuity of mineralization at this goal within the near-surface and stays open in all instructions.
Fireweed efficiently intersected vein and substitute sulphides (Photographs 1 and a couple of) in all holes at Popcorn. Summaries of the intercepts from these holes are as follows:
- Gap NB24-004 intersected 46.03 m of vein and substitute model mineralization grading 4.88% zinc and three.6 g/t silver, together with 14.13 m grading 8.27% zinc and 5.3 g/t silver and together with 5.36 m grading 13.01% zinc and 6.5 g/t silver.
- Gap NB24-002 intersected 54.75 m of vein and substitute model mineralization grading 3.98% zinc and three.9 g/t silver together with 8.85 m grading 6.13% zinc and 4.4 g/t silver, additionally together with 19.78 m grading 6.71% zinc and 5.9 g/t silver and together with 7.01 m grading 11.20% zinc and 9.0 g/t silver
- Gap NB24-007 intersected 24.05 m of vein and substitute model mineralization grading 4.80% zinc and 6.3 g/t silver
- Gap NB24-005 intersected 21.77 m of vein and substitute model mineralization grading 3.60% zinc and three.2 g/t silver, and in addition intersected 53.95 m grading 3.70% zinc and three.8 g/t silver, together with 11.54 m grading 8.69% zinc and 5.1 g/t silver and together with 5.80 m grading 11.29% zinc and 6.4 g/t silver
- Gap NB24-012 intersected 20.25 m of vein and substitute mineralization grading 3.78% zinc and three.3 g/t silver, together with 2.45 m grading 14.47% zinc and eight.0 g/t silver
- Gap NB24-003 intersected 6.16 m grading 7.64% zinc and 4.0 g/t silver, together with 2.93 m grading 12.30% zinc and 4.7 g/t silver, and in addition intersected 4.94 m grading 5.32% zinc and 5.7 g/t silver
- Gap NB24-009 intersected a one metre interval of vein mineralization grading 2.99% zinc and a couple of.6 g/t silver
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See Tables 1 to three, Cross Sections PA–PA’, PB–PB’, inclined lengthy part PC–PC’ and Map 2 under for additional particulars.
Holes NB24-002, NB24-003, NB24-004, NB24-005, NB24-007, NB24-009 and NB24-012 are exploration holes that adopted up on an remoted intercept from 1982 and found vein and breccia mineralization inside conglomerates and mudstones. These mineralized zones are interpreted to be the identical stratigraphy because the lithologies current at Boundary Zone which overlie the large and stratiform sulphides of the BZUZ and BZPZ. Collectively these mineralized intervals comprise the brand new zone known as Popcorn, with intercepts forming a steady zone of mineralization with an irregular inside geometry of veins and substitute zones consisting of pyrite, sphalerite, and barite. The zone is broadest and highest grade close to floor.
Comparable trying vein and breccia mineralization at Boundary Zone happens each stratigraphically above and under the high-grade stratiform laminated huge sulphide zones. This mineralization kinds inside a halo on each side of the stratiform laminated zones at Boundary Zone and is interpreted as a stockwork of randomly oriented veins and breccia zones which are contained inside broadly stratiform our bodies.
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Certified Individual Assertion
Technical info on this information launch has been reviewed and permitted by Fireweed Metals Senior Geologist, Ian Carr, P.Geo. (BC), a ‘Certified Individual’ as outlined underneath Canadian Nationwide Instrument 43-101. Mr. Carr is just not unbiased of the Firm in accordance with NI 43-101.
Fireweed Metals Corp. is an exploration firm centered on unlocking worth in a brand new important metals district situated in Northern Canada. Fireweed is 100% proprietor of the Macpass District, a big and extremely potential 977 km2 land bundle. The Macpass District consists of the Macpass zinc-lead-silver venture and the Mactung tungsten venture. A Lundin Group firm, Fireweed is strongly positioned to create significant worth.
Fireweed trades on the TSX Enterprise Change underneath the buying and selling image “FWZ”, on the OTCQX Greatest Market underneath the image “FWEDF”, and on the Frankfurt Inventory Change underneath the buying and selling image “M0G”.
Extra details about Fireweed and its initiatives may be discovered on the Firm’s web site at FireweedMetals.com and at www.sedarplus.com
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ON BEHALF OF FIREWEED METALS CORP.
“Peter Hemstead”
Interim CEO & Director
Neither the TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.
Knowledge Verification and QA/QC
The diamond drill core logging and sampling program was carried out underneath a rigorous high quality assurance / high quality management program utilizing trade finest practices. Drill intersections on this launch are NQ2 and HQ measurement core (50.5 mm/ 1.99-inch diameter, 63.5 mm/ 2.5-inch) with recoveries sometimes above 85% except in any other case famous within the outcomes tables. After drilling, core was cleaned, logged for geology, construction, and geotechnical traits, then marked for sampling and photographed on website. Sure cores had been chosen for core scanning. The cores for analyses had been marked for sampling based mostly on geological intervals with particular person samples 2 m or much less in size, with 1 m samples inside mineralized zones. Drill core was lower lengthwise in half with a core noticed; half-core was despatched for assays reported on this information launch, and the opposite half is saved on website for reference. Bulk density was decided on website for your complete size of every assay pattern by measurement of mass in air and mass in water. Pattern duplicate bulk density determinations and in-house bulk density normal determinations had been every made at a fee of 5%. Since 2017, 4 in-house bulk density requirements (mineralized drill core from the Tom deposit that span a variety of densities) have been used and present a suitable long-term precision. Licensed normal lots are used to calibrate the dimensions steadiness used for bulk density determinations.
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A complete of 5% assay requirements or blanks and 5% core duplicates are included within the pattern stream as a top quality management measure and are reviewed after analyses are acquired. Requirements and blanks in 2024 drill outcomes thus far have been permitted as acceptable. Duplicate information add to the long-term estimates of precision for assay information on the venture and precision for drill outcomes reported is deemed to be inside acceptable ranges. Samples had been despatched to the Bureau Veritas (BV) preparation laboratory in Whitehorse, Yukon, the place the samples had been crushed and a 500 g break up was despatched to the BV laboratory in Vancouver, B.C to be pulverized to 85% passing 200 mesh measurement pulps. Clear crush materials was handed by way of the crusher and clear silica was pulverized between every pattern. The pulps had been analyzed by 1:1:1 Aqua Regia digestion adopted by Inductively Coupled Plasma Mass Spectrometry (ICP-ES/ICP-MS) multi-element analyses (BV Code AQ270). All samples had been additionally analyzed for a number of parts by lithium borate fusion and X-ray fluorescence evaluation (XRF) end (BV Code LF725). Over-limit lead (>25.0%) and zinc (>24.0%) had been analyzed by lithium borate fusion with XRF end (BV Code LF726). For BV samples, silver is reported on this information launch by methodology AQ270, and zinc and lead are reported by LF725 or LF726. Bureau Veritas (Vancouver) is an unbiased, worldwide ISO/IEC 17025:2017 accredited laboratory.
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Assay values might seem rounded to at least one decimal place however are given in full in Desk 1, Desk 2, and Cross Sections the place zinc and lead grades are reported to 2 decimal locations.
Outcomes on this information launch are chosen from composites with choice parameters based mostly on a 1.41% zinc equal lower off (ZnEq*) with elemental abundances throughout the composite offered size and bulk-density weighted averages as can be utilized in a Mineral Useful resource estimate. Size and bulk-density weighted averages have been reported as these most precisely characterize the common metal-content of the intersections. ZnEq is just not reported and is used solely as a composite choice criterion.
Vein and breccia mineralization at Boundary Zone are interpreted to be stockworks with variable shapes and true widths can’t be precisely estimated, subsequently solely intersected widths are reported, and true widths are marked as N/A within the assay tables. True widths are rounded to the closest metre for widths over 10 m and to the closest 0.1 m for widths lower than 10 m, as this higher displays the precision of the estimates. True widths needs to be thought to be approximate as these are derived from an estimation that makes use of a preliminary interpretation of the geological mannequin. True widths for nested intervals (marked as “Together with” in outcomes tables) are estimated utilizing a ratio of included to main intersected widths to attribute acceptable parts of the true width of the first interval to the nested intervals.
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Cautionary Statements
Ahead Trying Statements
This information launch comprises “forward-looking” statements and knowledge (“forward-looking statements”). All statements, apart from statements of historic information, included herein, together with, with out limitation, statements regarding interpretation of drill outcomes, targets for exploration, potential extensions of mineralized zones, future work plans, the usage of funds, and the potential of the Firm’s initiatives, are ahead trying statements. Ahead-looking statements are ceaselessly, however not all the time, recognized by phrases similar to “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “attainable”, and related expressions, or statements that occasions, situations, or outcomes “will”, “might”, “might”, or “ought to” happen or be achieved. Ahead-looking statements are based mostly on the beliefs of Firm administration, in addition to assumptions made by and knowledge at the moment out there to Firm administration and replicate the beliefs, opinions, and projections on the date the statements are made. Ahead-looking statements contain numerous dangers and uncertainties and accordingly, readers are suggested to not place undue reliance on forward-looking statements. There may be no assurance that such statements will show to be correct, and precise outcomes and future occasions might differ materially from these anticipated in such statements. Essential elements that might trigger precise outcomes to vary materially from the Firm’s expectations embrace however usually are not restricted to, exploration and improvement dangers, unanticipated reclamation bills, expenditure and financing necessities, normal financial situations, modifications in monetary markets, the power to correctly and effectively workers the Firm’s operations, the sufficiency of working capital and funding for continued operations, title issues, First Nations relations, working hazards, political and financial elements, aggressive elements, steel costs, relationships with distributors and strategic companions, governmental laws and oversight, allowing, seasonality and climate, technological change, trade practices, uncertainties concerned within the interpretation of drilling outcomes and laboratory exams, and one-time occasions. The Firm assumes no obligation to replace ahead‐trying statements or beliefs, opinions, projections or different elements, besides as required by legislation.
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This information launch additionally comprises references to estimates of mineral sources. The estimation of mineral sources is inherently unsure and entails subjective judgments about many related elements. Mineral sources that aren’t mineral reserves do not need demonstrated financial viability. The accuracy of any such estimates is a perform of the amount and high quality of accessible information, and of the assumptions made and judgments utilized in engineering and geological interpretation, which can show to be unreliable and rely, to a sure extent, upon the evaluation of drilling outcomes and statistical inferences that will finally show to be inaccurate. Mineral useful resource estimates might require re-estimation based mostly on, amongst different issues: (i) fluctuations within the worth of zinc and different metals; (ii) outcomes of drilling; (iii) outcomes of metallurgical testing, course of and different research; (iv) modifications to proposed mine plans; (v) the analysis of mine plans subsequent to the date of any estimates; and (vi) the attainable failure to obtain required permits, approvals and licenses.
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Footnotes and References
*Zinc equivalency relies on a worth of USD$1.40/lb Zn, USD$1.10/lb Pb, and USD$25/oz Ag, CAD:USD trade fee of 1.32, and numerous working value and metallurgical assumptions particular to every deposit or area (see Fireweed information launch “Fireweed Will increase Mineral Assets on the Macpass Undertaking Together with an Inaugural Useful resource for Boundary Zone” dated September 4, 2024, Tables 2 and three).
1References to relative measurement, grade, and steel content material of the Macpass sources and Mactung sources compared to different tungsten, zinc, gallium, and germanium deposits elsewhere on the planet, respectively, are based mostly on assessment of the Normal & Poor’s World Market Intelligence Capital IQ database.
2: For Tom, Jason, Finish Zone, and Boundary Zone Mineral Assets, the technical report might be filed on https://www.sedarplus.ca/ inside 45 days of September 4, 2024, the efficient date of the Mineral Assets.
3: For Mactung Mineral Assets, see Fireweed information launch dated June 13, 2023 “Fireweed Metals Declares Mineral Assets for the Mactung Undertaking: the Largest Excessive-Grade Tungsten Deposit within the World” and the technical report entitled “NI 43-101 Technical Report, Mactung Undertaking, Yukon Territory, Canada,” with efficient date July 28, 2023 filed on https://www.sedarplus.ca/. Garth Kirkham, P.Geo. is unbiased of Fireweed Metals Corp., and a ‘Certified Individual’ as outlined underneath Canadian Nationwide Instrument 43-101. Garth Kirkham, of Kirkham Geosystems Restricted., is accountable for the Mactung Mineral Useful resource Estimate.
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Contact: Alex Campbell, Fireweed VP Company Improvement
Cellphone: +1 (604) 689-7842
E mail:
Map 1: Macpass Undertaking and Mactung Undertaking areas
Map 2: Mineralized intervals in 2024 drilling at Popcorn and pre-2024 drilling at Boundary Zone and Popcorn, projection of 2024 useful resource extents to floor, 2024 useful resource pit shell extent, and cross part traces PA–PA’, PB–PB’ and inclined lengthy part PC–PC’.
Determine 1: Cross part PA to PA’ 50 m thickness with outcomes for NB24-002, NB24-003, NB24-007, and NB24-009
Determine 2: Cross part PB to PB’ 50 m thickness with outcomes for NB24-004, NB24-005, and NB24-012
Determine 3: Inclined lengthy part PC to PC’ 50 m in width dipping 84.1° towards 182.9° exhibiting NB24-002, NB24-003, NB24-004, NB24-005, NB24-007, NB24-009, and NB24-012 with outcomes from spotlight holes
Photograph 1: Sphalerite substitute of matrix inside conglomerates in NB24-004 47.4 to 54.8 m
Photograph 2: Sphalerite substitute of matrix inside conglomerates in NB24-002 62.0 to 69.9 m
Desk 1: NB24-002, NB24-003, NB24-004, NB24-005, NB24-007, NB24-009 and NB24-012 drill outcomes
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| Drillhole | Interval | From (m) | To (m) | Interval Width (m) |
Zinc (%) | Lead (%) | Silver (g/t) | Bulk Density (t/m3) |
| NB24-002 | Total Gap† | 0.00 | 138.00 | 138.00 | 1.65 | 0.01 | 1.7 | 9.50 |
| NB24-002 | Major | 15.75 | 70.50 | 54.75 | 3.98 | 0.01 | 3.9 | 10.24 |
| NB24-002 | Together with | 15.75 | 24.60 | 8.85 | 6.13 | 0.01 | 4.4 | 8.29 |
| NB24-002 | Together with | 50.72 | 70.50 | 19.78 | 6.71 | 0.02 | 5.9 | 9.17 |
| NB24-002 | >Together with | 62.40 | 69.41 | 7.01 | 11.20 | 0.02 | 9.0 | 12.51 |
| NB24-003 | Total Gap† | 0.00 | 150.00 | 150.00 | 0.80 | 0.00 | 1.5 | 12.92 |
| NB24-003 | Major | 28.35 | 34.51 | 6.16 | 7.64 | 0.01 | 4.0 | 11.40 |
| NB24-003 | Together with | 31.11 | 34.04 | 2.93 | 12.30 | 0.01 | 4.7 | 14.52 |
| NB24-003 | Major | 68.83 | 73.77 | 4.94 | 5.32 | 0.01 | 5.7 | 19.91 |
| NB24-004 | Total Gap† | 0.00 | 147.00 | 147.00 | 1.58 | 0.00 | 1.4 | 8.06 |
| NB24-004 | Major | 10.83 | 56.86 | 46.03 | 4.88 | 0.01 | 3.6 | 10.75 |
| NB24-004 | Together with | 10.83 | 24.96 | 14.13 | 8.27 | 0.01 | 5.3 | 15.43 |
| NB24-004 | >Together with | 10.83 | 16.19 | 5.36 | 13.01 | 0.02 | 6.5 | 18.79 |
| NB24-004 | Together with | 39.05 | 56.86 | 17.81 | 5.53 | 0.01 | 4.3 | 12.01 |
| NB24-005 | Total Gap† | 0.00 | 141.00 | 141.00 | 2.17 | 0.01 | 2.5 | 7.17 |
| NB24-005 | Major | 11.34 | 33.11 | 21.77 | 3.60 | 0.01 | 3.2 | 11.28 |
| NB24-005 | Major | 81.12 | 135.07 | 53.95 | 3.70 | 0.01 | 3.8 | 8.76 |
| NB24-005 | Together with | 109.25 | 120.79 | 11.54 | 8.69 | 0.01 | 5.1 | 15.46 |
| NB24-005 | >Together with | 110.70 | 116.50 | 5.80 | 11.29 | 0.01 | 6.4 | 19.04 |
| NB24-007 | Total Gap† | 0.00 | 236.00 | 236.00 | 0.78 | 0.00 | 1.9 | 6.71 |
| NB24-007 | Major | 152.75 | 176.80 | 24.05 | 4.80 | 0.01 | 6.3 | 12.08 |
| NB24-007 | Together with | 155.20 | 171.40 | 16.20 | 5.71 | 0.01 | 7.1 | 14.40 |
| NB24-009 | Total Gap† | 0.00 | 327.00 | 327.00 | 0.05 | 0.00 | 0.2 | 2.76 |
| NB24-012 | Total Gap† | 0.00 | 337.00 | 337.00 | 0.45 | 0.02 | 1.3 | 10.47 |
| NB24-012 | Major | 253.53 | 273.78 | 20.25 | 3.78 | 0.03 | 3.3 | 17.84 |
| NB24-012 | Together with | 271.33 | 273.78 | 2.45 | 14.47 | 0.04 | 8.0 | 25.41 |
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† Total gap intervals comprise massive steady sections of low grade or non-mineralized materials (under 2% zinc)—intersections of steady higher-grade materials (>1.41% zinc) are listed as Major and Included intervals and characterize mineralized materials.
Desk 2: 2024 Drilling Abstract
| Gap ID | Size (m) | Goal | Vital Intersection | Sort |
| NB24-001 | 685 | Boundary | Outcomes Disclosed September 24 2024 | Step Out |
| NB24-002 | 138 | Popcorn | Vein and Alternative Mineralization | Exploration |
| NB24-003 | 150 | Popcorn | Vein and Alternative Mineralization | Exploration |
| NB24-004 | 147 | Popcorn | Vein and Alternative Mineralization | Exploration |
| NB24-005 | 141 | Popcorn | Vein and Alternative Mineralization | Exploration |
| NB24-007 | 236 | Popcorn | Vein and Alternative Mineralization | Exploration |
| NB24-008 | 826 | Boundary | Outcomes Disclosed September 24 2024 | Step Out |
| NB24-009 | 328 | Popcorn | Vein and Alternative Mineralization | Exploration |
| NB24-012 | 337 | Popcorn | Vein and Alternative Mineralization | Exploration |
Desk 3: Drill Gap Collar Info
| Drillhole | Zone | Size (m) | Easting | Northing | Elevation (m.s.l) | Azimuth (°) | Dip (°) |
| NB24-001 | Boundary | 685 | 422106 | 7010813 | 1274 | 197.76 | -68.95 |
| NB24-002 | Popcorn | 138 | 423367 | 7010711 | 1225 | 207.05 | -49.69 |
| NB24-003 | Popcorn | 150 | 423367 | 7010711 | 1225 | 210.60 | -80.11 |
| NB24-004 | Popcorn | 147 | 423485 | 7010680 | 1224 | 206.58 | -49.73 |
| NB24-005 | Popcorn | 141 | 423485 | 7010680 | 1224 | 207.51 | -79.50 |
| NB24-007 | Popcorn | 236 | 423328 | 7010756 | 1242 | 212.24 | -53.35 |
| NB24-008 | Boundary | 826 | 422106 | 7010814 | 1274 | 196.43 | -81.81 |
| NB24-009 | Popcorn | 327 | 423328 | 7010756 | 1242 | 214.34 | -70.84 |
| NB24-012 | Popcorn | 337 | 423472 | 7010768 | 1234 | 209.66 | -62.90 |
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Coordinates listed in NAD83 UTM Zone 9N.
Photographs accompanying this announcement can be found at
https://www.globenewswire.com/NewsRoom/AttachmentNg/6ec2f82a-539b-4ac7-bfa1-076a8db306d3
https://www.globenewswire.com/NewsRoom/AttachmentNg/04e1de58-ce37-4479-8210-3d74ce87d62d
https://www.globenewswire.com/NewsRoom/AttachmentNg/e27675b2-b7b0-40b3-92ac-53697f274020
https://www.globenewswire.com/NewsRoom/AttachmentNg/7aad4468-90a1-4f73-a685-630c7b7696c8
https://www.globenewswire.com/NewsRoom/AttachmentNg/0642b2a6-6d89-4769-9050-45e712aa439b
https://www.globenewswire.com/NewsRoom/AttachmentNg/6aa7a966-5863-4a5d-8c56-a574fd81b1cc
https://www.globenewswire.com/NewsRoom/AttachmentNg/c6c56c37-ddac-4ee9-b498-6942d7abb378
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