- Seven drillholes report significant mineralization including,
in DDH LM17-126, 14.4% zinc, 3.4% lead, 2.4% copper, 576.9 g/t
silver and 1.1 g/t gold over 7.5 metres
- Drill program at Lemarchant deposit ongoing with additional
4500 metres planned
VANCOUVER, Aug. 14, 2017 /CNW/ - Canadian Zinc
Corporation (TSX: CZN; OTCQB: CZICF) is pleased to report
positive results from its ongoing diamond drill exploration program
on the Lemarchant zinc-lead-copper-silver-gold volcanogenic massive
sulphide deposit, located on the 100%-owned South Tally Pond
project in central Newfoundland.
Twenty-one drillholes, totaling 4,275 metres, have now been
completed with assay results received for the first 11 drillholes.
Six drillholes reported significant mineralization further
extending the up-dip Main Zone massive sulphide mineralization of
the Lemarchant deposit. One infill drillhole intersected
significant grades within the Main Zone, with three drillholes
intersecting lower grade mineralization in the footwall zone.
Highlights of the assay results include:
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LM17-119 :
6.99% zinc, 2.83% lead, 0.64% copper, 79.6 g/t
silver, 1.27 g/t gold over 7.3 m.
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LM17-121 :
5.35% zinc, 1.59% lead, 0.59% copper, 136.1 g/t silver, 2.93
g/t gold over 7.8 m.
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LM17-122 :
9.78% zinc, 3.17% lead, 1.04% copper, 91.0 g/t silver, 2.92
g/t gold over 4.4 m.
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LM17-124 :
8.82% zinc, 1.02% lead, 1.14% copper, 46.5 g/t silver, 0.53
g/t gold over 2.8 m.
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LM17-125 :
9.29% zinc, 2.92% lead, 2.32% copper, 155.6 g/t silver,
0.55 g/t gold over 1.8 m.
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LM17-126 : 14.41%
zinc, 3.41% lead, 2.40% copper, 576.9 g/t silver, 1.06 g/t gold
over 7.5 m.
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LM17-128 : 10.26%
zinc, 3.06% lead, 0.96% copper, 33.8 g/t silver, 0.24 g/t gold over
2.9 m.
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"We are very pleased with the summer drilling results which
has continued to extend the massive sulphide mineralization up-dip
at the Lemarchant deposit with some excellent grades and widths.
The 2017 winter and summer drilling programs have now outlined a
significant up-dip extension to the Lemarchant deposit over a 200
metre strike length", stated Mike Vande
Guchte, VP Exploration Newfoundland for Canadian Zinc
Corporation. "The single infill drillhole, LM17-126 represents
one of the better intercepts drilled to date at Lemarchant and
further highlights the high grade nature of the deposit".
The summer drill program has focused on further testing and
defining the up-dip mineralization at the Lemarchant deposit
discovered during the 2017 winter drill program (see CZN news
release April 18, 2017).
The new drilling has continued to successfully extend the
Lemarchant Main Zone massive sulphide mineralization up-dip, by up
to 80 metres on sections 101+75N through 103+25N (150 metres strike
length). The up-dip mineralization typically has a well-developed
footwall alteration zone with local zones of intense hydrothermal
alteration and stringer mineralization. The vertical depths of the
new mineralized drill intercepts range from 120 to 170 metres.
Significant assay results are provided below with a drillhole
location map and key sections provided on the Canadian Zinc website
(www.canadianzinc.com).
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Drill
Hole
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Section
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From
(m)
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To (m)
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Length (m)
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Zone
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Zn (%)
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Pb (%)
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Cu (%)
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Ag (g/t)
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Au (g/t)
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LM17-118
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102+50N
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139.8
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153.5
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13.7
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FW
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0.78
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0.05
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0.26
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2.3
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0.08
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LM17-119
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102+50N
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149.1
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156.4
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7.3
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MZ
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6.99
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2.83
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0.64
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79.6
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1.27
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LM17-119
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102+50N
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156.4
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167.9
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11.5
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FW
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2.7
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0.53
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0.31
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18.8
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0.23
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LM17-120
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102+50N
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No significant
mineralization
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LM17-121
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102+00N
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158.3
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166.1
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7.8
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MZ
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5.35
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1.59
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0.59
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136.1
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2.93
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LM17-122
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102+00N
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161.7
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166.1
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4.4
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MZ
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9.78
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3.17
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1.04
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91.0
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2.92
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LM17-123
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102+00N
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No significant
mineralization
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LM17-124
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102+00N
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154.65
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157.45
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2.8
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MZ
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8.82
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1.02
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1.14
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46.5
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0.53
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LM17-125
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103+00N
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210.0
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211.8
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1.8
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MZ
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9.29
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2.92
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2.32
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155.6
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0.55
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LM17-126
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103+00N
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210.6
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218.1
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7.5
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MZ
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14.41
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3.41
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2.40
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576.9
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1.06
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LM17-127
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103+00N
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139.3
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147.8
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8.5
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FW
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0.71
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0.04
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0.11
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2.22
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0.06
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LM17-128
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103+25N
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191.2
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194.1
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2.9
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MZ
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10.26
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3.06
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0.96
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33.8
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0.24
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* All
intervals are core length; true thickness is estimated to be near
core length; FW = Footwall, MZ = Mineralized Zone
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Highlights of the drilling include:
- Massive sulphide mineralization with mineralized barite were
intersected in drillholes LM17-119 (Section 102+50N) extending the
mineralized zone a further 25 metres of up-dip on Section 102+50N.
The mineralized horizon, including the previously reported winter
drillholes LM17-115 and LM17-116, has now been extended 80 metres
up-dip along this section with the following results.
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LM17-115 : 10.23%
zinc, 2.19% lead, 0.78% copper, 148.4 g/t silver, 2.41 g/t gold
over 7.1 m.
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LM17-116 : 14.06%
zinc, 6.27% lead, 1.88% copper, 382.9 g/t silver, 2.01 g/t gold
over 6.0 m.
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LM17-119
: 6.99% zinc, 2.83% lead, 0.64% copper, 79.6 g/t
silver, 1.27 g/t gold over 7.3 m.
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- Massive to semi-massive sulphide mineralization and mineralized
barite was intersected in three of the four up-dip drillholes,
located along strike and 50 metres south of section 102+50N. The
new drillholes added a 75-80 metres wide section of up-dip
mineralization.
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LM17-121 : 5.35%
zinc, 1.59% lead, 0.59% copper, 136.1 g/t silver, 2.93 g/t gold
over 7.8 m.
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LM17-122 : 9.78%
zinc, 3.17% lead, 0.75% copper, 91.0 g/t silver, 2.92 g/t gold over
4.4 m.
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LM17-124 : 8.82%
zinc, 1.02% lead, 1.14% copper, 46.5 g/t silver, 0.53 g/t gold over
2.8 m.
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- Drillhole LM17-126 filled in a 50 metre gap between two
drillholes (LM08-33 and LM11-62) and LM17-125 confirmed the 25
metre up-dip presence of the Lemarchant resource mineralization on
Section 103+00N.
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LM17-125 :
9.29% zinc, 2.92% lead, 2.32% copper, 155.6 g/t silver,
0.55 g/t gold over 1.8 m.
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LM17-126 : 14.41%
zinc, 3.41% lead, 2.40% copper, 576.9 g/t silver, 1.06 g/t gold
over 7.5 m.
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- Massive mineralization was intersected in drillhole LM17-128
extending the Lemarchant deposit mineralized zone a further 25
metres up-dip on section 103+25N.
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LM17-128 : 10.26%
zinc, 3.06% lead, 0.96% copper, 33.8 g/t silver, 0.24 g/t gold over
2.9 m.
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The ongoing summer drill program will continue to target the
expansion of the Lemarchant deposit's two mineralized zones, the
Main Zone and Northwest Zone, and to test several priority
geophysical targets located to the immediate south and north of the
Lemarchant deposit. An additional 4,500 metres of drilling in 16-18
drillholes is anticipated for these areas.
Two other high priority base metal prospects located in the
Lemarchant area, including Spencers Pond and Lost Pond are being
prepared for drill testing.
2017 Ground Geophysical Program
Ground electromagnetic (EM) geophysical surveys in the
Lemarchant deposit area were completed in June and focused on three
priority target areas (T1, T2 and T3) located immediately south,
southwest and east of the Lemarchant deposit, resulting in the
identification of several new priority targets.
Each area is associated with airborne EM conductors that remain
untested by drilling. Plate modeling of the surface EM data has
outlined conductive trends in all three areas that are being
reviewed for follow-up drill testing.
South Tally Pond Project
The South Tally Pond project covers approximately 13,700
hectares and is located in a proven mining district in the same
productive volcanic belt as the past-producing Duck Pond Cu-Zn
Mine, owned by Teck Resources. The Lemarchant deposit is situated
20 km southwest of the former Duck Pond Mine.
An NI43-101 mineral resource estimate completed on the
Lemarchant deposit in 2012 reported an Indicated Resource of 1.24
million tonnes with an average grade of 5.45% Zn, 1.19% Pb, 0.58%
Cu, 59.17 g/t Ag and 1.01 g/t Au; and an Inferred Resource of 1.34
million tonnes with an average grade of 3.70% Zn, 0.86% Pb, 0.41%
Cu, 50.41 g/t Ag and 1.00 g/t Au
About Canadian Zinc
Canadian Zinc is a TSX-listed exploration and development
company trading under the symbol "CZN". The Company's key project
is the 100%-owned Prairie Creek Project, a fully permitted,
advanced-stage zinc-lead-silver property, located in the
Northwest Territories.
The Company also owns an extensive land package in central
Newfoundland that it is exploring
for copper-lead-zinc-silver-gold deposits. These include the
South Tally Pond project (Lemarchant deposit);
Tulks South project (Boomerang-Domino and Tulks East
deposits) and Long Lake
project (Long Lake deposit). The
Company's exploration strategy in central Newfoundland is to continue to build on its
existing polymetallic resource base with the aim of developing
either a stand-alone mine, similar to the past-producing base metal
mines at Buchans and Duck Pond, or
a number of smaller deposits that could be developed simultaneously
and processed in a central milling facility.
Quality Assurance and Quality Control
Drillhole intervals are core length with true thickness
estimated to be 85-100% of core length. Samples were sawn from
NQ-sized core with half core sections sealed in plastic bags and
transported by Canadian Zinc personnel to Eastern Analytical Labs
in Springdale, Newfoundland.
Samples were analyzed for Cu, Pb, Zn, Ag and Au at Eastern
Analytical Labs from the sawn NQ-sized half core sections. Data
quality is monitored through the insertion of control samples
consisting of one prepared base and precious metal standard and one
blank sample for every 20 samples of drill core. All control
samples conformed to the accepted contained grades of base and
precious metals. Select samples pulps were shipped to ALS Minerals
in North Vancouver, BC for
33-element ICP analysis for further check assays of significant
base and precious metal bearing samples. Historical results
were obtained from published reports and news releases available in
the public domain.
Michael J. Vande Guchte,
P.Geo., VP Exploration NL for Canadian Zinc Corporation is
responsible for the Newfoundland
exploration programs, and is a Qualified Person as defined by NI
43-101 and has reviewed and has approved the contents of this news
release.
Cautionary Statement – Forward-Looking Information
This press release contains certain forward-looking
information, including, among other things, the expected completion
of acquisitions and the advancement of mineral properties. This
forward looking information includes, or may be based upon,
estimates, forecasts, and statements as to management's
expectations with respect to, among other things, the completion of
transactions, the issue of permits, the size and quality of mineral
resources, future trends for the company, progress in development
of mineral properties, future production and sales volumes, capital
costs, mine production costs, demand and market outlook for metals,
future metal prices and treatment and refining charges, the outcome
of legal proceedings, the timing of exploration, development and
mining activities, acquisition of shares in other companies and the
financial results of the company. There can be no assurances that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. Mineral resources that are not mineral reserves do
not have demonstrated economic viability. Inferred mineral
resources are considered too speculative geologically to have
economic considerations applied to them that would enable them to
be categorized as mineral reserves. There is no certainty that
mineral resources will be converted into mineral reserves.
Cautionary Note to United States Investors
The United States Securities and Exchange Commission ("SEC")
permits U.S. mining companies, in their filings with the SEC, to
disclose only those mineral deposits that a company can
economically and legally extract or produce. We use certain terms
in this press release, such as "measured," "indicated," and
"inferred" "resources," which the SEC guidelines prohibit U.S.
registered companies from including in their filings with the
SEC.
SOURCE Canadian Zinc Corporation