Vancouver, British Columbia, Canada – Wednesday, August 30, 2017 – Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) is pleased to announce that the final two drill holes of the 2017 exploration program have been completed for a total of 8 drill holes successfully drilled on the Cardiac Creek deposit. The 2017 Akie exploration program is now complete and the exploration and drilling crews have demobilized from site.
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 2017 Akie exploration program commenced in June and utilized two diamond drill rigs. The drilling focused on resource expansion and new target development, building on the success of earlier drill programs that have outlined a robust and high-grade zinc-lead-silver system in the central core of the Cardiac Creek deposit.
2017 Drill Program Highlights
Approximately 4,700 metres of HQ diamond drill core was completed in eight holes using 2 diamond drill rigsAll drill holes intersected the target Cardiac Creek Zone with well mineralized intervals recoveredFirst four holes targeted both the central core and the up-dip strike extents of the high-grade coreTwo holes targeted the lower central core area at its known extents to the NW and the SEFinal two holes focused on expansion of the known limits of the indicated resourceTotal of 1,100 samples, including standard QA/QC samples, submitted to assay labProgram completed on schedule and under budgetDrillhole A-17-142 drillhole was collared into siliceous shale of the Gunsteel Formation. Proximal Facies pyrite mineralization was encountered in several horizons from 578.31 to 612.12 metres downhole. Two distinct horizons of Cardiac Creek Zone mineralisation were encountered: an upper zone from 612.12 to 632.17 metres downhole that displays a progressive transition from sphalerite-rich banded mineralisation to mottled textured bands enriched in sphalerite and galena. The lower Cardiac Creek Zone occurs from 642.17 to 655.75 metres downhole and is comprised of approximately 85% mineralized interbeds. The sulphide-bearing beds display prominent mottled textures enriched in sphalerite and galena. Disseminated galena is present throughout the lower zone as well. A narrow interval of semi-massive sulphides was intersected below the Cardiac Creek Zone and the hole ended in Silurian Siltstones of the Road River Group at a depth of 700.13 metres.
Drillhole A-17-143 was collared into siliceous shale of the Gunsteel Formation. Distal Facies mineralisation consisting of interlaminated pyrite and nodular barite was encountered at a depth of 224.63 to 346.92 metres downhole. The Proximal Facies pyrite mineralization was intersected at a depth of 346.92 metres downhole, consisting of massive beds of very fine grained, dull brown pyrite, nodular barite, and rare bands of light grey sphalerite. The Proximal Facies transitions into Cardiac Creek Zone mineralization at a depth of 352.69 metres downhole. The Cardiac Creek zone continued downhole to a depth of 382.95 metres and is characterized by mottle-textured, thick, laminar sulphide beds enriched in pyrite, sphalerite and galena with lesser quartz and carbonate. Debris flows of the Paul River Formation were intersected from 384.42 to 392.86 metres downhole. The hole was shut down in Silurian Siltstones of the Road River Group at a depth of 406.91 metres.
Approximately 400 metres of drilling was abandoned due to excessive downhole deviation. Those holes were restarted with slightly different head orientations and then carried through to successful completion intersecting the intended target areas.
Geological logging and sampling is now complete on all eight holes and a total of 1,100 samples, including standard QA/QC samples, have been taken through the Cardiac Creek Zone. Samples from the first five holes have reached the Acme Analytical Laboratories (a Bureau Veritas company) in Vancouver, BC; and three holes are in transit from site to lab. The true width estimates of each Cardiac Creek intercept are not yet available but are being modeled and will be calculated upon release of pending assay results. Assays results from the first two holes are expected in approximately one week with the remainder following thereafter.
Peeyush Varshney, CEO, commented: “We are very pleased with the overall execution of the 2017 drill program. We completed drilling on all selected targets and carefully managed resources to keep on schedule and under budget. We look forward to announcing drill results over the coming weeks at a time when the market fundamentals for zinc and lead continue to show remarkable strength and underpin a robust price outlook.”
QA/QC
Canada Zinc Metals has implemented a rigorous quality assurance/quality control program at the Akie property using best industry practices. All drill core is logged for geology, structure, veining, alteration, mineralisation, and geotechnical parameters. Sections of sulphide mineralisation are marked for sampling by a geologist and a series of standards, duplicates and blanks are inserted into the sample stream for QA/QC purposes. Prior to the cutting of samples, all core boxes are photographed for due diligence and record keeping purposes. The samples are split by a diamond saw, tagged and bagged and forwarded by bonded carrier to Acme Labs (a Bureau Veritas Group Company) of Vancouver, BC, for analysis. Documentation recording the chain of custody is kept for each shipment.
Assays for zinc, lead and silver are obtained using Acme Labs AQ270 analytical package with sample digestion using aqua regia solution followed by ICP-ES and ICP-MS analyses. Barium content is determined by Acme Labs LF300 analytical package using LiBO2/LiB4O7 fusion and ACS grade nitric acid followed by ICP-ES analysis. Overlimit values of lead and zinc are rerun using Bureau Veritas AQ371 analytical package using a hot aqua regia solution followed by ICP-ES analyses. Check assays on drill pulps are routinely conducted by ALS Minerals of North Vancouver, BC with their OG46 analytical package using aqua regia digestion and ICP-ES analysis. All remaining drill core is stored at the Akie exploration camp.
The Akie Zn-Pb-Ag Project
The Company’s flagship 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 19.6 million tonnes grading 8.2% zinc, 1.6% lead and 13.6 g/t silver (at a 5% zinc cut-off grade) and an inferred resource of 8.1 million tonnes grading 6.8% zinc, 1.1% lead and 11.2 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”
PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN