Canada Zinc Metals Corp. changes name to ZincX Resources Corp.
Vancouver, British Columbia, Canada – Monday, May 7, 2018 – ZincX Resources Corp. (“ZincX Resources” or “the Company”, TSX Venture Exchange: ZNX) is pleased to announce that the Company has changed its name from Canada Zinc Metals Corp. and will commence trading on the TSX Venture Exchange under the new name and the new stock symbol “ZNX” beginning Monday, May 7, 2018. The Company’s website domain is now www.zincxresources.com.
ZincX Resources Corp. is a Canadian junior exploration company focused on advancing its premier Zn-Pb-Ag Cardiac Creek deposit in northeastern British Columbia
The new corporate name is part of a rebranding initiative to highlight and distinguish the Company in the expanding junior zinc space allowing it to stand out among its peer group. The Company will continue to focus on the advancement of its premier Cardiac Creek Zn-Pb-Ag deposit, located on the flagship Akie property, to maximize shareholder value.
The name change does not affect the rights of the Company’s shareholders. No further action is required by existing shareholders with respect to the name change, and certificates representing common shares of Canada Zinc Metals Corp. will not need to be surrendered or exchanged unless a transfer is being requested. The Company is not subdividing, consolidating or otherwise altering its share capital in association with the name change.
The Company’s new name, corporate logo and rebranding will provide a distinctive look for new strategic shareholders that recognize the significant value proposition of the Company’s core assets, the flagship Akie Project, host to the Zn-Pb-Ag Cardiac Creek deposit, and the Kechika Regional Project.
The new corporate website has been modernized providing viewing capabilities across multiple platforms and allows easy access to key information regarding the Company’s projects including corporate management, investor information, news, project summaries, drill results and other details. The site provides an excellent medium to convey information and to communicate project details to investors. The website reflects the Company’s new name and allows shareholders and potential investors to follow ZincX Resources as it advances its core asset, the Zn-Pb-Ag Cardiac Creek deposit. Content on the site will continue to be added and updated as information is generated by the Company’s ongoing work. The Company invites all interested parties to visit the new site.
Plans for 2018:
The following are ZincX Resources’ plans for 2018:
- Complete re-branding and name change from Canada Zinc Metals Corp. to ZincX Resources Corp., a name which better reflects the new corporate identity and the development of its zinc focused projects.
- Shares will commence trading on the TSX Venture Exchange under the new name as of market open on Monday, May 7, 2018. The Company’s ticker symbol will change to TSX.V: ZNX.
- Launch the Company’s new website complete with a new logo and rebranded look.
- Complete the Preliminary Economic Assessment (PEA) for the Cardiac Creek deposit which is underway and anticipated to be complete by the end of May, 2018.
- The Company plans to move forward on additional engineering assessments and permitting toward future mine development.
- Planning is well underway for a drill program on select targets on the Akie property which will include some infill holes on the Cardiac Creek zone, and testing coincident geological targets on targets outbound of the deposit, including the Sitka showing situated on the eastern thrust panel east of the Cardiac Creek deposit. The Sitka showing was discovered in 2013 consisting of a 6 metre thick vein or fault structure that is host to massive barite containing abundant coarse-grained galena and sphalerite. A secondary parallel structure is located 10 metres to the northeast and measures approximately 3.0 metres wide. Channel samples from 2013 included assays ranging from 1.9% to 5.1% Zn and Pb assays returned values up to 3.7%.
- The Company is considering commencing the planned underground drill definition program for the Cardiac Creek deposit. The project is fully permitted and all final designs are complete. The Company announced in December 2017 that the underground exploration permit was extended to 2020.
- In consultation with Teck Resources and their JV partner, Korea Zinc, the Company will consider plans and budget for follow-up exploration on the Pie Option properties located north of Akie and adjacent to the Teck Resources/Korea Zinc jointly owned Cirque project.
The Akie Zn-Pb-Ag Project
The 100% owned Akie property is situated within the Kechika Trough, the southernmost area of the regionally extensive Paleozoic Selwyn Basin and 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 ZincX Resources since 2005 has identified a significant body of baritic-zinc-lead SEDEX mineralization 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.
With additional drilling completed in 2017, the Company has updated the estimate of mineral resources at Cardiac Creek, as follows:
|5% Zinc Cut-Off Grade||Contained Metal:|
|Zn (%)||Pb (%)||Ag (g/t)||Zn (B lbs)||Pb (B lbs)||Ag (M oz)|
In addition to the Akie Project, the Company owns 100% of eight of eleven large, contiguous property blocks that comprise the Kechika Regional Project including the advanced Mt. Alcock prospect. The Kechika Regional Project also includes the Pie, Yuen and Cirque East properties within which the Company maintains a significant 49% interest with partners Teck Resources Limited (TSX: TECK.B) and Korea Zinc Co. Ltd. These properties collectively extend northwest from the Akie property for approximately 140 kilometres covering 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.
Ken MacDonald P.Geo., Vice President of Exploration for the Company, 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
ZINCX RESOURCES CORP.
PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN