Canada Zinc Metals Reports Further on Current Activities on the Akie Project
Vancouver, British Columbia, Canada – Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) is pleased to provide an update on current activities on its 100% owned Akie property, which includes the Cardiac Creek SEDEX zinc-lead-silver deposit. The property is located approximately 260 kilometers north-northwest of the town of Mackenzie in northeastern British Columbia, Canada.
An update to the current Cardiac Creek geological model and inferred resource are well underway along with plans to commence a Preliminary Economic Assessment of the Cardiac Creek deposit which will provide a decision-making tool to advance orderly development. Permits applications have been submitted for multi-year surface drill programs for the Akie property, and for the Pie and Mt. Alcock properties, which make up part of the large Kechika regional claim group. Drill and helicopter tendering is underway with contracts expected to be finalized over the coming month. Final plans regarding the 2011 surface exploration program will be made in the coming weeks, once permits are in hand and drill and helicopter crews are confirmed.
About the Akie Property
The Akie zinc-lead property is situated within the southern-most part (Kechika Trough) 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 Inmet Mining Corporation during the period 1994 to 1996 and by Canada Zinc Metals since 2005 has identified a significant body of baritic-zinc-lead SEDEX mineralization (Cardiac Creek deposit). The deposit is hosted by variably siliceous, fine grained clastic rocks of the Middle to Late Devonian ‘Gunsteel’ formation. The Company has outlined a NI 43-101 compliant inferred resource of 23.6 million tonnes grading 7.6% zinc, 1.5% lead and 13.0 g/t silver (at a 5% zinc cut off grade).
Two similar deposits, Cirque and Cirque South Cirque, located some 20 km northwest of Akie and owned under a joint venture by Teck Resources and Korea Zinc, are also hosted by Gunsteel rocks and have a combined geologic inventory in excess of 50 million tonnes (not 43-101 compliant) grading approximately 10% combined zinc + lead.
In addition to the Akie property, Canada Zinc Metals Corp. controls a large contiguous group of claims which comprise the Kechika Regional project. These claims are underlain by geology identical to that on the Akie property (Cardiac Creek deposit) and Cirque. This project includes the 100% owned Mt. Alcock property, which has yielded a historic drill intercept of 8.8 metres grading 9.3% zinc+lead, numerous zinc-lead-barite occurrences, and several regional base metal anomalies.
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