2013-10-04 10:06:19 -
Vancouver, British Columbia CANADA, October 04, 2013 /FSC/ - Canada Zinc Metals Corp. (CZX - TSX Venture), ("the Company") is pleased to acknowledge that diversified miner Teck Resources Limited ("Teck" TSX:TCK.B) has commenced exploration on the Pie, Cirque East and Yuen Properties recently optioned from the Company in the Kechika Trough Zn-Pb-Ag district.
The Pie, Cirque East and Yuen Properties are contiguous to Teck/Korea Zinc Co., Ltd.'s ("Korea Zinc" KOSE:A010130) road accessible Cirque deposit which is subject to a 2013 drill program and is located approximately 20 kilometres to the northwest of the Company's Cardiac Creek deposit. Both the Cirque and Cardiac Creek deposits share many similarities including: deposit type (SEDEX), mineralization hosted within the same stratigraphic unit, and considerable
Canada Zinc Metals Corp. has been actively exploring within the Kechika Trough since 2005 developing the Cardiac Creek deposit and welcomes Teck's presence as a strong endorsement of the prospectivity of the belt.
Teck maintains a series of claim blocks within the Kechika Trough commonly known as the Cirque, Driftpile, Elf and Fluke properties. Both the Cirque and Driftpile properties host Zn-Pb-Ag mineralization in historical resource estimates, which are not NI 43-101 compliant. The Elf and Fluke properties are prospects hosting Zn-Pb-Ag-Ba mineralization that has been tested by several drilling campaigns. The Cirque, Elf and Fluke properties are jointly owned 50%/50% by Teck and Korea Zinc, whereas the Driftpile property is 100% owned by Teck.
Teck's properties, covering approximately 17,480 hectares, are situated adjacent to and surrounded by the Company's claims that cover over 78,500 hectares. Together, the claim holdings controlled by the two entities cover prospective rocks representing a strike length of 176 kilometres throughout the Kechika Trough. As a result the Company and Teck (and their JV partner) effectively control 100% of the Kechika Trough Zn-Pb-Ag district
Peeyush Varshney, President and CEO of Canada Zinc Metals, states "We believe there is a looming zinc shortage which will arrive in the near to mid term, as also predicted by many analysts and by major zinc miners themselves. There is a supply gap looming and development of resources like Cardiac Creek and other properties in the Kechika Trough Zn-Pb-Ag district can potentially serve as an important contribution in the medium-term to fill that void."
The Company is now approaching completion of its planned 2013 exploration program (see news release dated September 24, 2013) for the Akie and Kechika Regional projects. The Akie property is the Company's flagship exploration project and is host to the Cardiac Creek SEDEX Zn-Pb-Ag deposit. The Kechika Regional Project, represented by a series of property blocks including Pie and Mt. Alcock, extends northwest from the Akie property for approximately 140 kilometres covering the highly prospective Gunsteel Formation shale. The southernmost project boundary is located approximately 260 kilometres north-northwest of the town of Mackenzie, in northeastern British Columbia, Canada.
The 2013 exploration program has two primary objectives: 4,000 metres of diamond drilling planned for the Akie property and an expansion of the 2012 airborne VTEM survey that was completed over the Akie, Pie and Mt. Alcock properties. The survey (completed) extends to cover the remaining Kechika Regional claims.
The 4,000 metre drilling program will test several key targets on the Akie property, including the Cardiac Creek deposit, the North Lead Anomaly, the GPS bedded barite showing, the South Zinc Anomaly and other promising property-scale targets that have been identified through careful analysis of exploration data coincident with anomaly targets from the 2012 Airborne VTEM survey.
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
Phone (604) 684-2181
To view the press release as a PDF file, please click on the following link:
Source: Canada Zinc Metals Corp. (CZX - TSX-V)
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