Canada Zinc Metals Announces Completion of Successful Drill Program On Akie Property, Cardiac Creek Deposit
Vancouver, British Columbia, Canada – Thursday, October 1, 2015 – Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) is pleased to announce the Company has concluded its 5,000 metre 2015 drill program on the 100% owned Akie property.
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 the 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.
2015 Exploration Program
The 2015 exploration program was focused on drill definition of the Cardiac Creek deposit on the Akie property, but also included completion of an airborne gravity geophysical survey and follow-up interpretation and target definition for the Akie, Mt. Alcock and Yuen North properties.
The Company completed eight drill holes for a total of 5,350 metres of HQ/NQ drilling on select targets on the Cardiac Creek deposit. The program successfully intersected Zn-Pb-Ag mineralization in all eight holes.
The program ran for approximately one hundred days, from early June until late September. Good drill production, cost efficiencies and budget control realized enough savings to warrant extending the program to complete a bonus 8th drill hole, at a total depth of 322 metres.
Results have been announced from two drill holes (A-15-121, A-15-122) totaling 1,107 metres. Results from the additional holes are pending. The drill data will be used to update the Cardiac Creek geological model with important infill and down-dip drill intercepts.
Peeyush Varshney, President and CEO of the Company, commented, "We’re delighted to announce the successful conclusion of another important phase of drilling on the Cardiac Creek deposit. We earlier announced very impressive results from the first two holes of the program; and look forward to releasing the remainder of the assays as they are received from the lab. It’s a testament to our exploration field staff and valued contractors that they could drill an extra bonus hole through careful budget control and skillful planning. We will have a busy fall compiling all the drill results and meanwhile we continue to examine the airborne gravity anomalies from the ongoing target assessment for the Akie, Mt. Alcock and Yuen North properties”.
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, 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 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