Canada Zinc Metals Moves Ahead with Large Airborne Geophysical Survey
Vancouver, British Columbia, Canada – November 13, 2014 – Canada Zinc Metals Corp. (“Canada Zinc” or “the Company”, TSX Venture Exchange: CZX) is pleased to announce that the planned airborne geophysical survey for the Akie and select Kechika Regional properties has commenced. The helicopter-borne FALCONTM gravity gradiometry survey is being flown by CGG of Mississauga, Ontario.
The survey measures minute changes in the Earth's gravity with a high degree of accuracy and spatial resolution. A high resolution onboard laser scanner or LIDAR will provide detailed topographic mapping data for use in terrain corrections.
The primary goal of the gravity survey will be to delineate gravity anomalies within the highly prospective Gunsteel Formation which has now been more accurately mapped using the 2012 airborne VTEM data. Conductive EM trends can be traced across the Akie property and along approximately 140 kilometres of strike length encompassing the Kechika Regional properties. Known mineralization such as the Cardiac Creek and Mt. Alcock deposits are located along these conductive trends and data collected from the gravity survey will greatly assist with drill targeting along strike of these zones. The gravity data will also be useful in delineating new targets in areas of coincident anomalous soil and rock samples and EM conductivity. SEDEX deposits are known to commonly exhibit positive gravity anomalies.
The survey will consist of the acquisition and subsequent analysis of airborne gravity data over two large property blocks, one covering the Akie property and one covering the Mt. Alcock and Yuen North properties. Planned flight lines will be flown in a NE–SW (50°) direction at a nominal line spacing of 200 metres with tie lines to be flown perpendicular to flight lines at approximately 10 times the flight line interval. The survey will encompass approximately 940 line kilometres in total.
Further, the Company has been advised that Teck Resources Limited (“Teck” TSX:TCK.B) will undertake a similar survey over the Company’s 100%-owned Pie-Cirque East-Yuen contiguous block of properties. Flight lines will be flown on the optioned properties in a similar NE–SW (50°) direction at a nominal line spacing of 200 metres with tie lines to be flown perpendicular to flight lines at approximately 10 times the flight line interval. The survey will encompass approximately 840 line kilometres in total.
The two surveys will total 1,780 line kilometres covering a lineal distance of 45 kilometres of highly prospective Gunsteel Formation stratigraphy. The combined survey is expected to be completed in 3 - 4 weeks with data available approximately 6 – 8 weeks after post-processing.
The Pie, Yuen and Cirque East properties are the subject of an option agreement concluded on September 9, 2013 with Teck and its JV partner, Korea Zinc Co., Ltd. ("Korea Zinc" KRX:KorZinc 010130). The option agreement would see Teck and Korea Zinc spend up to $8.5 million to acquire up to 70% interest in the Pie, Yuen and Cirque East properties.
Teck has recently advised the Company that exploration activities completed in 2014 on the three optioned properties included targeted geological mapping, selective rock sampling on priority targets, and core re-logging and sampling from historical Pie and Yuen drill core. A total of 3,500 metres of historical drill core was relogged and field sampled using portable XRF analysis to help prioritize holes to cut for lab based analysis. Over 450 core samples were cut and sent for lab analysis. A total of approximately 63 kilometres of geological traversing was also completed to help understand the broad structural and stratigraphic architecture of the area.
Akie and Kechika Regional Projects
The Company owns 100% of eleven large, contiguous property blocks that make up the Akie and Kechika Regional projects. The Kechika Regional Project, including the Pie, Yuen, Cirque East and Mt. Alcock properties, extends 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. The southernmost project boundary is located approximately 260 kilometres northwest of the town of Mackenzie, British Columbia, Canada.
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 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.
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, LL.B
CEO & CHAIRMAN