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Canada Zinc Metals Announces Additional Drill Results from the Cardiac Creek Deposit, Akie Property

Drill hole A-14-117 intersects 15.38 metres of extensive mineralisation containing an interval of 6.39% combined Zn+Pb and 8.49 g/t Ag over 5.72 metres.

Vancouver, British Columbia, Canada – Monday, October 20, 2014 – Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) is pleased to announce the Company has received assay results from the final two diamond drill holes of the 2014 exploration program on the Cardiac Creek deposit. The Akie property is the Company’s 100% owned flagship exploration project and host to the Cardiac Creek SEDEX Zn-Pb-Ag deposit. The Akie property is located approximately 260 kilometres north-northwest of the town of Mackenzie, in northeastern British Columbia, Canada.

2014 Drilling Program – Cardiac Creek Deposit

The Company completed 8 HQ diamond drill holes on the Cardiac Creek deposit, totaling 2,855 metres. The drilling focused on targets along the up-dip, northwest and southeast areas of the deposit with the objective of expanding the boundary of the internal high grade core as well as expanding the overall perimeter of the deposit. A total of 715 sawn core samples, including industry standard QA/QC samples, were taken and submitted to Acme Labs in Vancouver BC, an ISO 9001 and 17025 certified assay and geochemical analytical lab. No systematic issues were identified during the QA/QC process and as part of its QA/QC program the Company will send a select number of samples to an independent laboratory for confirmation purposes. Results from the first six holes of the program were announced August 20th, 2014 and September 2nd, 2014. The Company has now received assays from the last two drill holes; A-14-117, and A-14-120.

Drill hole A-14-117 targeted the up-dip and southeast edge of the internal high grade core of the deposit with a pierce point located approximately 85 metres up-dip from hole A-14-116 and along strike of the high grade hole A-11-96, which returned 10.01% combined Zn + Pb and 12.43 g/t Ag over 5.3 metres (true width).  An extensive package of mineralisation representing the Cardiac Creek Zone was intersected from 327.83 to 369.49 metres with 4 distinct intervals of sulphide mineralisation interbedded with minor shale and chert. The mineralised intervals consist of thickly bedded sulphides comprised of laminated pyrite, sphalerite with minor barite and galena. Towards the base of the zone the bedding becomes poorly defined and the sulphides become more mottled in appearance, a general indication of higher grade material. The zone is underlain by a thin pyritic sulphide bed and debris flow and limestone of the Paul River Formation. The hole was completed at a depth of 387.10 metres in calcareous siltstone of the Road River Group

The hole returned 3.93% combined Zn+Pb and 5.33 g/t Ag over a true width of 15.38 metres, from a downhole depth of 346.00 to 367.80. Included within this extensive envelope of mineralisation are intervals of higher grade zinc, lead and silver mineralisation that are outlined in the table below. This includes 9.03 metres (true width) of combined 4.63% Zn+Pb and 6.15 g/t Ag, from 355.00 to 367.80 metres and 5.72 metres (true width) of combined 6.39% Zn+Pb and 8.49 g/t Ag from 361.38 to 369.49 metres. A total of 7 individual samples with an aggregate true thickness of 3.98 metres exceeded 5% zinc (ranging from 5.55% Zn to 9.27% Zn) illustrating the high grade nature in the core of the deposit at this elevation.

(*) True widths are calculated on the basis that the deposit has an overall average dip of 70° to the southwest from the horizontal
(Ɨ) Values below the detection limit have been given a value of half the detection limit for the purposes of weighted averages

Drill hole A-14-120 targeted the northwest edge of the deposit following up on the mineralisation intersected in hole A-14-112 (which returned 6.91% Zn+Pb and 8.02 g/t Ag over a true width of 7.87 metres as reported August 20, 2014), with a pierce point located approximately 100 metres down-dip. The proximal facies was intersected from 406.05 to 421.32 metres and was underlain by the Cardiac Creek Zone from 421.32 to 428.75 metres. The mineralisation is represented by thickly bedded pyrite with minor nodular barite in the proximal facies grading to pyrite with bands of grey sphalerite and minor galena within the Cardiac Creek Zone.  Intense localized quartz-carbonate veining is present along the upper and lower contacts of the mineralisation suggesting that the bulk of the Cardiac Creek Zone has been displaced. Nearby down-dip drill holes A-07-46 and A-10-74 do not display this veining indicating that there does not appear to be any disruption to the Cardiac Creek Zone at depth. The zone is underlain by mineralisation representative of the distal facies and the debris flow of the Paul River Formation. The hole was completed to a depth of 461.47 metres in calcareous siltstone of the Road River Group. The best intercept from the zone returned 4.59% combined Zn+Pb and 6.90 g/t Ag over a true width of 1.27 metres from a wider mineralised interval of 12.98 metres (true width) of combined 1.59% Zn+Pb and 3.22 g/t Ag.

The 2014 drilling program has provided valuable information across several select areas of the deposit including the high grade core, and the up-dip, northwest and southeast edges of the deposit. High grade results were obtained from several holes including A-14-111, A-14-112 and A-14-115 (previously reported). These key results continue to demonstrate the consistency of the high grade core and the deposit in general.

Peeyush Varshney, President and CEO, offered the following statement: “We are pleased with the drill results from 2014. The extensive width of mineralisation intersected in drill holes 116 and 117 speaks to the consistency of the deposit along its southeastern edge while the results from hole 120 have pushed the known limits of the deposit to over 1,400 metres in strike length. In light of these results, we are already planning the 2015 drill program that will focus on the down-dip extension of the deposit and strike definition at lower elevations to the NW and SE. The deposit is still open down-dip and along strike and we are already looking forward to getting back to drilling again to further advance the tremendous asset we have in hand.”

Airborne Gravity Survey

The Company continues to anticipate completing an airborne gravity survey on the Akie and Mt. Alcock properties in 2014.  While there have been some delays due to contractor-related equipment issues, a start date has been set for mid October 2014 with an expected duration of approximately 10 days. The program is designed to delineate gravity anomalies within the highly prospective and conductive Gunsteel Formation shale and will complement the previously completed 2012 airborne VTEM survey. Coincident VTEM and gravity anomalies will be prioritized as drill targets for future exploration.

The Akie Zn-Pb-Ag Project

The 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 Canada Zinc Metals since 2005 has identified a significant body of baritic-zinc-lead 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 12.7 million tonnes grading 8.4% zinc, 1.7% lead and 13.7 g/t silver (at a 5% zinc cut-off grade) and an inferred resource of 16.3 million tonnes grading 7.4% zinc, 1.3% lead and 11.6 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”
                                                           
PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN