Canada Zinc Metals Plans for 5,000 Meter Drill Program at Akie
Vancouver, British Columbia, Canada – Tuesday, May 12, 2015 – Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) is pleased to announce its plans for the upcoming 2015 exploration season. The Company has outlined an aggressive 5,000 metre diamond drill program that will focus primarily on its Cardiac Creek deposit with the aim to increase the known size of the deposit and improve the confidence of the current resource categories.
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 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.
The 2015 Exploration Plan
The Company’s 2015 exploration program will focus on advancement of the Cardiac Creek stratiform Zn-Pb-Ag deposit. A total of 126 diamond drill holes have been drilled on the Akie property with an aggregate core length of 53,750 metres. A total of 78 drill holes, totaling 36,021 metres, contribute to the current NI 43-101 compliant mineral resource estimate for the Cardiac Creek deposit. An additional 35 drill holes test the Cardiac Creek horizon over a 7 kilometre strike length, or other exploration targets on the property.
The Company has planned an aggressive 5,000 metre diamond drill program for 2015, with the primary goal of expanding the down-dip extents of the high-grade core to the Cardiac Creek deposit. Drilling will target a large, open, down-dip zone proximal to high-grade holes such as A-05-30, A-05-32, A-07-43, A-07-50, and A-07-53. Additional follow-up targets will be considered based on the evaluation of the drill results.
The recently acquired airborne gravity data, in conjunction with airborne VTEM data and a revised regional geological base map, will be used to prioritize other property-scale targets such as the North Lead Zone and the Sitka Showing.
At this time, it is expected that the geological staff and drill crew will mobilize in early June with drilling to begin shortly thereafter. The program is expected to continue through to September.
In addition, the Company is pleased to announce it is now in receipt of final data from the recently completed Heli-Falcon airborne gravity gradiometry survey, flown by CGG over the Akie, Mt. Alcock, and Yuen North properties. The Company has engaged Campbell and Walker Geophysics Ltd. of North Vancouver, BC, to assess the data in conjunction with the recent VTEM and other geological datasets in order to generate a series of high priority targets to be tested promptly or in subsequent exploration programs.
Peeyush Varshney, President and CEO, of the Company states, "The 2015 exploration program will focus mainly on our flagship Akie project and the Cardiac Creek deposit. Results from the 2013 and 2014 drilling on the deposit represented an expansion of known mineralization both along strike and up-dip. We believe that this season’s targeted drilling will increase the dimensions and level of confidence in the resource down-dip. The results will ultimately help plan subsequent stages of exploration on the Akie property and development of the deposit.”
“We strongly believe the recent upturn in the price of zinc is signaling the beginning of the long-expected dramatic decline in global zinc inventories and lack of new supply. In the face of the looming zinc shortage, Canada Zinc Metals is positioned as a premier zinc explorer with a world-class zinc deposit situated in a geopolitically and financially stable jurisdiction.”
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