- 2017 drill program successfully extends the Lemarchant Deposit
mineralization
- 14.5% copper over 0.6 metres (LM17-161) in latest drilling
results
- National Instrument 43-101 resource update in progress for Q1
2018
CZN-TSX
CZICF-OTCQB
VANCOUVER, March 5, 2018 /CNW/ - Canadian Zinc
Corporation (TSX: CZN; OTCQB: CZICF) is pleased to report the
remaining results of its 2017 diamond drill exploration program on
the Lemarchant zinc-lead-copper-silver-gold volcanogenic massive
sulphide deposit and drill results for two priority base metal
prospects, all located on the 100%-owned South Tally Pond VMS
project in central Newfoundland.
The 2017 drill program at the Lemarchant deposit, totaling 48
drillholes for 12,422 metres, has successfully extended the
Lemarchant deposit mineralization. Drilling at the Lemarchant Main
Zone has extended the mineralization up-dip, by up to 80 metres
over a 250-metre strike length at vertical depths of 120 to 170
metres below surface. Drilling at the Lemarchant Northwest Zone has
extended the mineralization by up to 50 metres along strike to the
north and south. Results of the 2017 drilling are provided in
previous news releases with results from the remaining 8 drillholes
provided below.
"We are very pleased and encouraged with the drill results
from the 2017 drill program at the South Tally Pond project. Our
first priority was to find extensions to the mineralization at the
Lemarchant deposit and we have successfully accomplished that goal
with the 2017 drill program. In addition, we tested two priority
base metal prospects on the South Tally Pond project with
encouraging geological results," stated Michael Vande Guchte, VP Exploration NL.
"We look forward to an updated Lemarchant Mineral Resource
Estimate in 2018 and to begin testing interpretations from the
Lemarchant structural study".
The remaining 8 drillholes (3,113 metres) of the 2017 drill
program at Lemarchant tested for additional south extensions to the
Main Zone and extensions to the Northwest Zone. Results are
summarized below.
Drill
Hole
|
Section
|
From
(m)
|
To
(m)
|
Length
(m)
|
Zn
(%)
|
Pb
(%)
|
Cu
(%)
|
Ag
(g/t)
|
Au
(g/t)
|
Lemarchant Main
Zone
|
LM17-160
|
100+50N
|
163.7
|
164.8
|
1.1
|
3.92
|
0.52
|
0.73
|
15.43
|
0.07
|
LM17-161
|
100+75N
|
170.5
|
174.75
|
4.25
|
1.89
|
0.27
|
2.36
|
23.19
|
0.19
|
including
|
|
174.15
|
174.75
|
0.60
|
1.18
|
0.02
|
14.50
|
51.2
|
0.77
|
LM17-163
|
100+50N
|
|
|
|
No Significant
Assays
|
Lemarchant
Northwest Zone
|
LM17-156
|
106+75N
|
252.0
|
254.0
|
2.0
|
3.02
|
0.65
|
0.30
|
16.05
|
0.02
|
|
|
295.0
|
299.0
|
4.0
|
1.92
|
0.73
|
0.13
|
71.28
|
0.82
|
LM17-157
|
107+50N
|
447.0
|
451.0
|
4.0
|
1.25
|
0.34
|
0.13
|
19.63
|
0.15
|
LM17-158
|
105+00N
|
|
|
|
No Significant
Assays
|
LM17-159
|
107+00N
|
|
|
|
No Significant
Assays
|
LM17-162
|
106+00N
|
448.0
|
455.0
|
7.0
|
2.19
|
0.05
|
0.19
|
3.87
|
0.12
|
|
Drillhole
intervals are core length with true thickness estimated to be
80-100% of core length
|
Three drillholes (618 metres) tested for further south
extensions to the Lemarchant Main Zone. Two of the drillholes
successfully intersected the mineralized horizon with stringer to
massive sulphide base metal mineralization.
- Drillhole LM17-160 intersected 3.92% zinc, 0.52% lead, 0.73%
copper, 15.4 g/t silver, 0.07 g/t gold over 1.1 metres extending
the mineralization 25 metres south of previous drillhole LM17-113,
which intersected 10.10% zinc, 4.54% lead, 2.32% copper, 147.9 g/t
silver, 0.88 g/t gold over 1.5 metres. The mineralized horizon
remains open along strike to the south.
- Drillhole LM17-161 extended the mineralization 25 metres up-dip
of LM17-113 on section 100+75N with 1.89% zinc, 0.27 lead, 2.36%
copper, 23.19 g/t silver, 0.19 g/t gold over 4.25 metres. The
mineralized horizon remains open up-dip on this section.
- Drillhole LM17-163 tested 25 metres south of LM17-161 where the
projected mineralized horizon has been replaced by unmineralized
felsic intrusions.
Five drillholes (2,495 metres) tested for additional extensions
to the Lemarchant Northwest Zone. Three of the drillhole
intersected footwall stringer and disseminated base metal
mineralization over 2 to 7 metres widths.
- Drillholes LM17-156 and 157 targeted up-dip and north
extensions, respectively, to the mineralization intersected in
LM17-150 which intersected 3.05% zinc, 1.78% lead, 0.35% copper,
14.6 g/t silver, 0.5 g/t gold over 21.4 metres.
- Drillholes LM17-158 tested 50 metres up-dip of LM10-24 where
previous drilling intersected 6.60% zinc, 0.68% lead, 0.61% copper,
28.28 g/t silver, 0.46 g/t gold over 6.0 metres. No significant
mineralization was intersected.
- Drillholes LM17-159 and 162 targeted down-dip extension to the
Northwest Zone mineralization. LM17-162 intersected weak base metal
mineralization in a strongly sheared interval.
Additional information on the South Tally Pond project along
with drillhole location maps and key sections are provided on the
Canadian Zinc website (www.canadianzinc.com).
Drill Results – Two Priority Base Metal Prospects
Two priority base metal prospects, the Lost Pond prospect and
Lake Ambrose West prospect, both located within 6 km of the
Lemarchant deposit, were also drill tested in the final round of
the 2017 drill program.
Lost Pond Prospect
Drilling at the Lost Pond prospect, located 6 km north of the
Lemarchant deposit, followed up on three drillholes completed in
2011, where 4.0% copper mineralization was intersected over 0.5
metres. No other drilling has been undertaken in this area.
Thirteen drillholes, totaling 3,559 metres were completed in
2017 and intersected a thick sequence of variably altered
mafic-felsic volcanic rocks over a 400-metre strike length with
thick intervals of pyrite-rich to graphitic mudstone horizons
containing anomalous base metal mineralization. The metalliferous
mudstone horizons, are geochemically similar to those that overlie
the Lemarchant deposit and suggest a favorable hydrothermal
depositional environment for massive sulphide development. The
drilling results are being assessed for further follow-up
exploration.
Lake Ambrose West Prospect
The Lake Ambrose West prospect is located 4.5 km northeast of
the Lemarchant deposit and had never been drill tested. Three
drillholes, totaling 909 metres, were completed to test priority
airborne EM conductors identified from previous surveys and
coincident historical ground horizontal loop EM conductors. The
drilling intersected felsic to mafic volcanic stratigraphy with a
local pyritic, graphitic mudstone horizon intersected in two of the
drillholes that explains the EM conductors. The mudstone horizon is
associated with elevated base metal mineralization with the
lithogeochemistry suggesting a more distal hydrothermal
depositional environment. The drill results are being assessed for
further follow-up exploration.
Updated NI 43-101 Resource Estimate underway on Lemarchant
Deposit
Canadian Zinc has engaged Mercator Geological Services Limited
("Mercator") of Dartmouth, Nova
Scotia, to complete an updated National Instrument ("NI")
43-101 Mineral Resource Estimate of the Lemarchant deposit. The
updated Mineral Resource Estimate is scheduled to be completed in
Q1 2018.
As part of the Mineral Resource Estimate update, a geological
structural study of the Lemarchant deposit was completed by
Mercator and Terrane Geoscience Inc. The structural study will be
incorporated into the Lemarchant geological model and will be
utilized to target other areas of potential mineralization
including faulted offsets adjacent to the Lemarchant deposit.
About the 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.
Since acquiring the South Tally Pond project in September 2012, Canadian Zinc has completed 94
drill holes totaling 28,800 metres at the Lemarchant deposit and 16
drillholes totaling 4,468 metres at 2 priority prospects.
Highlights of the Company's exploration work to date includes:
- Drilling programs in 2013 and 2014 led to the discovery of the
Lemarchant Northwest Zone, a new lense of Zn-Pb-Cu-Ag-Au
mineralization located 250 metres northwest of the Lemarchant Main
Zone.
- The drill programs were followed up with a successful
metallurgical research program completed in 2016. The metallurgical
program was designed to test the technical and economic viability
of processing five central Newfoundland base metal deposits including the
Company's Lemarchant and Boomerang-Domino deposits at a central
milling facility. The metallurgical results demonstrated that the
mineralization from the deposits can be successfully processed in a
central mill using a sequential flotation flowsheet, and that
selective zinc, lead and copper concentrates at marketable grades
can be produced from these deposits.
- The 2017 drill program successfully extended the Lemarchant
Main Zone mineralization up-dip, by up to 80 metres over a
250-metre strike length at vertical depths of 120 to 170 metres
below surface. Drilling at the Northwest Zone extended the
mineralization by up to 50 metres along strike to the north and
south.
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.
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 zinc-lead-copper-silver-gold deposits including the South Tally
Pond project (Lemarchant deposit), Tulks South project
(Boomerang-Domino deposit) and Long
Lake (Long Lake deposit).
Quality Assurance and Quality Control
Drillhole intervals are core length with true thickness
estimated to be 80-100% 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.
SOURCE Canadian Zinc Corporation