Canada Zinc Metals Provides Akie Exploration Update
Vancouver, British Columbia, Canada – Wednesday, July 26, 2017– Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) is pleased to announce that to date four drill holes on the Cardiac Creek deposit have been completed. The 2017 exploration program commenced in June with two diamond drill rigs and is anticipated to carry on till the end of August. The objective of the program is focused on resource expansion and new target development, building on the success of earlier drill programs that have outlined a robust and high-grade zinc-lead-silver system in the central core of the Cardiac Creek deposit.
The Company owns 100% of eleven, large, contiguous property blocks that comprise the Akie and Kechika Regional projects. The Company’s flagship Akie Project is host to the Cardiac Creek deposit. The Kechika Regional Project includes the Pie, Yuen, Cirque East and Mt. Alcock properties, extending northwest from the Akie property for approximately 140 kilometres along strike of the highly prospective Gunsteel Formation shale; the main host rock for known SEDEX zinc-lead-silver deposits in the Kechika Trough of northeastern British Columbia. These projects are located approximately 260 kilometres north northwest of the town of Mackenzie, British Columbia, Canada.
2017 Drill Exploration Update
Approximately 2,100 meters of HQ diamond drill core has been completed on four holes. These four holes targeted both the central core and the up-dip strike extents of the high-grade core. Geological logging and core cutting is complete for two of the four holes. Both drill rigs are operating and the Company anticipates having two additional holes completed within the week.
Drill hole A-17-132, the first planned hole, intersected approximately 33.7 metres (core length) of the Cardiac Creek Zone from 537.41 metres to 571.06 metres. The zone is characterized by massive laminar beds of dull-brown pyrite and light grey sphalerite interfingered with mottle-textured sphalerite, galena, quartz and carbonate rich- bands. The mineralisation displays excellent mottled textures and coarser grained galena is locally visible. The drill hole was terminated in Silurian siltstone at 598.02 metres. A total of 143 assay samples, including standard QA/QC samples, were taken from the hole.
Drill hole A-17-133 intersected the Cardiac Creek Zone over 35.9 metres (core length) from a depth of 352.1 metres and continuing to a depth of 388.4 metres. The mineralisation present in hole A-17-133 is similar in character to that present in hole A-17-132, with massive sulphide beds of very fine grained dull brown pyrite, light grey sphalerite, and mottle-textured quartz-carbonate-sphalerite-galena bearing bands. The hole was terminated at a final depth of 413.6 metres within the Silurian siltstones. A total of 117 assay samples, including standard QA/QC samples, were taken from the hole.
Drill hole A-17-137 intersected a massive 109.20 metres (core length) of the Cardiac Creek Zone from a depth of 466.80 metres to 556.00 metres. The mineralisation displays a distinct increase in sphalerite and the mottled textured quartz-carbonate-sphalerite-galena rich bands become the dominant texture throughout the zone. In addition to the Cardiac Creek Zone, a 5.54 metre section of massive sulphide was intersected in the footwall of the deposit from 559.42 metres to 564.96 metres, which consists primarily of fined-grained, brassy pyrite that has been cross cut by carbonate-quartz veining that is host to abundant creamy red-pink sphalerite and local galena. Interestingly, several large intervals of massive pyrobitumen were intersected within the Silurian siltstones, the significance of which is unknown at this time. The hole was terminated at 614.78 metres in Silurian siltstone. A total of 254 assay samples, including standard QA/QC samples, were marked in the hole and are at present being sawn for assay purposes.
Drillhole A-17-138 intersected the Cardiac Creek Zone over 27.37 metres (core length) from a depth of 412.15 metres to 439.52 metres. The zone is characterized by massive laminar beds of dull brown pyrite, light grey sphalerite, and intermittent mottled-textured sphalerite, galena, quartz, and carbonate rich bands. The hole was terminated in calcareous siltstone of the Silurian Road River Group at 454.76 metres. A total of 81 assay samples, including standard QA/QC samples, were marked in the hole and are at present being sawn for assay purposes.
A total of 595 samples have been cut or marked for sampling from the first four drill holes. A total of 260 samples, from holes A-17-132 and A-17-133, have been shipped from the project site to Acme Analytical Laboratories (a Bureau Veritas company) in Vancouver, BC for subsequent analysis. The remaining 335 samples from holes A-17-137 and A-17-138 are currently being sawn and will be shipped at the earliest opportunity. The true width estimates of each Cardiac Creek intercept are not yet available but are being modeled and will be calculated upon release of pending assay results. Assays results from the first two holes are expected in approximately 4 weeks.
The Akie Zn-Pb-Ag Project
The Company’s flagship Akie property is situated within the Kechika Trough, the southernmost area of the regionally extensive Paleozoic Selwyn Basin, one of the most prolific sedimentary basins in the world for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.
Drilling on the Akie property by Canada Zinc Metals since 2005 has identified a significant body of baritic-zinc-lead-silver SEDEX mineralisation known as the Cardiac Creek deposit. The deposit is hosted by siliceous, carbonaceous, fine grained clastic rocks of the middle to late Devonian Gunsteel Formation.
The Company has outlined a NI 43-101 compliant mineral resource at Cardiac Creek, including an indicated resource of 19.6 million tonnes grading 8.2% zinc, 1.6% lead and 13.6 g/t silver (at a 5% zinc cut-off grade) and an inferred resource of 8.1 million tonnes grading 6.8% zinc, 1.1% lead and 11.2 g/t silver (at a 5% zinc cut-off grade).
Ken MacDonald P.Geo., Vice President of Exploration, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
CANADA ZINC METALS CORP.
PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN