Canadian Zinc Corporation: Drilling Intersects Additional Massive Sulphide Mineralization at South Tally Pond Project, Newfou...
December 11 2013 - 5:00AM
Marketwired Canada
Canadian Zinc Corporation (TSX:CZN)(OTCQB:CZICF) ("the Company" or "Canadian
Zinc") is pleased to provide results from the recently completed diamond drill
program on its 100%-owned South Tally Pond copper-lead-zinc-silver-gold project
in central Newfoundland.
Fifteen drillholes totaling 4,928 metres of coring, nine of which intersected
significant sulphide mineralization, were completed during the fall drill
program on the Lemarchant deposit at the South Tally Pond project. Highlights
include:
-- Additional massive sulphide mineralization intersected at the Northwest
zone discovered in early 2013. The new Northwest zone, located 250
metres northwest of the Lemarchant deposit, now extends over a 100 metre
strike length and remains open for expansion.
-- Significant precious metal values accompany the Northwest zone base
metal mineralization, including samples assaying 463.0 g/t silver over
1.0 metre and 17.5 g/t gold over 0.8 metre.
-- Drilling at the North target intersected strongly altered felsic
volcanic rocks directly below the overlying basalts, which is similar to
the stratigraphy associated with the massive sulphide mineralization of
the Lemarchant deposit to the immediate south.
Michael Vande Guchte, VP Canadian Zinc stated, "The recently completed drill
program has successfully extended the Northwest zone massive sulphide
mineralization to the north and south. The mineralization remains open along
strike and could add significantly to the existing tonnage at the Lemarchant
deposit. Canadian Zinc believes the Lemarchant deposit is a sizeable
volcanogenic massive sulphide system that remains open for significant
expansion."
Significant drill results are provided below and a drillhole location map will
be available on the Company's website.
Significant Assay Results from the Fall 2013 Drill Program
----------------------------------------------------------------------------
From To Interval Zinc Lead Copper Silver Gold
Drillhole Section (m) (m) (m) (%) (%) (%) (g/t) (g/t)
----------------------------------------------------------------------------
LM13-82 105+50N 309.0 312.0 3.0 9.33 0.38 0.90 38.57 0.47
----------------------------------------------------------------------------
LM13-83 105+50N 275.1 284.1 9.0 6.55 1.96 0.30 37.12 0.35
----------------------------------------------------------------------------
301.1 310.1 9.0 5.92 1.42 0.37 34.47 0.70
----------------------------------------------------------------------------
352.1 354.1 2.0 6.85 1.60 1.43 49.40 0.95
----------------------------------------------------------------------------
LM13-84 105+50N 331.7 333.0 1.3 7.01 5.17 1.35 42.77 3.50
----------------------------------------------------------------------------
348.0 363.0 15.0 1.33 0.19 0.14 5.95 0.12
----------------------------------------------------------------------------
LM13-86 105+00N 324.5 327.5 3.0 3.45 0.11 0.25 10.57 0.23
----------------------------------------------------------------------------
LM13-87 105+00N 282.6 283.6 1.0 2.08 0.38 0.08 49.6 2.4
----------------------------------------------------------------------------
LM13-88 102+75N 211.7 214.1 2.4 8.84 1.31 1.32 72.84 2.13
----------------------------------------------------------------------------
214.1 238.0 23.9 3.36 0.01 0.42 6.42 0.27
----------------------------------------------------------------------------
LM13-89 103+50N 163.1 166.1 3.0 1.41 0.08 0.11 3.73 0.03
----------------------------------------------------------------------------
LM13-92 104+50N 155.6 157.6 2.0 1.73 0.0 1.30 18.1 0.27
----------------------------------------------------------------------------
LM13-94 106+50N 331.6 361.9 30.3 3.48 1.21 0.36 87.5 1.80
----------------------------------------------------------------------------
includes 331.6 340.3 8.7 8.21 3.66 0.72 150.1 3.24
----------------------------------------------------------------------------
340.3 356.5 16.2 0.59 0.16 0.21 72.05 1.30
----------------------------------------------------------------------------
356.5 361.9 5.4 4.53 0.45 0.22 32.88 0.97
----------------------------------------------------------------------------
-- Drillholes LM13-82 to LM13-87 reported previously in Company news
release dated October 31, 2013.
-- No significant assay intervals in drillholes LM13-85, LM11-61E, LM13-90,
LM13-91, LM13-93 and LW13-01.
-- Drillhole intervals are core length and interpreted to be near true
width.
The priority targets of this drill program were outlined in the September 16,
2013 press release and results from the drilling of these targets are summarized
below.
Northwest Zone
Seven drillholes (LM13-82 to LM13-87, LM13-94) successfully tested the north and
south extension to the Northwest zone mineralization discovered during the 2013
winter drill program. The mineralized zone, located at a vertical depth of 260
to 350 metres below surface, consists of precious metal-rich massive sulphide
mineralization and mineralized barite intervals within altered felsic volcanic
rocks. The footwall to the mineralized zone consists of strongly altered felsic
volcanic rocks with disseminated to stringer base metal mineralization.
The new zone has now been traced over 100 metres of strike length and remains
open for expansion. Drillhole LM13-91, a 200 metre step out to the north of the
Northwest zone, intersected favourable felsic volcanic stratigraphy with local
anomalous base metal mineralization.
Lemarchant Deposit Extensions
Three drillholes (LM13-88 to LM13-90) tested for up-dip and lateral extensions
to the Lemarchant deposit. Drillhole LM13-88 intersected 2.4 metres of massive
sulphide mineralization with a well developed footwall between drillholes
LM10-43 and LM11-61. Drillhole LM13-89 intersected sheared felsic volcanic rocks
in the target area and LM13-90 cored late mafic intrusive rocks in the target
area that potentially replaced any massive sulphide mineralization.
LM11-61E tested the down-dip extension of the Lemarchant deposit mineralization
within the fault displaced lower felsic block stratigraphy. The 2011 drillhole
was extended from 310 to 534 metres and intersected the lower felsic block
stratigraphy at 368.4 metres downhole which was weakly mineralized. Extensive
mafic intrusions from 371 to 406 metres occur in the target area and may have
displaced the projected massive sulphide mineralization in the lower felsic
block.
LM13-92 tested the north extension to the Lemarchant deposit and intersected
highly altered felsic volcanic stratigraphy with local base metal mineralization
before being cut off by the Lemarchant fault.
North Target
LM13-93 tested for the lower felsic block stratigraphy in the north target area.
This drillhole cored highly altered felsic volcanic stratigraphy from 361.5
metres to the end of the hole, similar to that seen in LM93-11 and associated
with the Lemarchant massive sulphide stratigraphy.
West Geophysical Target
LW13-01 was an initial test of a strong Titan 24 geophysical anomaly located
1200 metres west of the Lemarchant deposit. The drilling intersected silicified,
pyritic mafic volcanic rocks through the upper portion of the target area
thought to be responsible for the geophysical anomaly. No significant base metal
or precious metal mineralization was detected.
South Tally Pond Project
The South Tally Pond project is a significant, 100%-owned, land position
covering 200 km2 of a highly prospective volcanogenic massive sulphide ("VMS")
geological belt in central Newfoundland. The Lemarchant deposit, the most
advanced target on the South Tally Pond property, is situated 20 kilometres
southwest of Teck Resources Limited's Duck Pond copper-zinc mine and mill
complex in the same geological belt. Canadian Zinc is focused on expanding its
Lemarchant copper-lead-zinc-silver-gold massive sulphide deposit
Previous drilling by Paragon Minerals Corporation at the Lemarchant deposit
outlined a significant precious metal-rich copper-lead-zinc VMS deposit with
excellent potential to develop into a viable economic resource. A National
Instrument ("NI") 43-101 mineral resource estimate was completed in January 2012
on the Lemarchant deposit and comprises an Indicated Mineral Resource of 1.24
million tonnes grading 5.38% zinc, 0.58% copper, 1.19% lead, 1.01 g/t gold and
59.17 g/t silver (15.40% ZnEQ) and an Inferred Mineral Resource 1.34 million
tonnes grading 3.70% zinc, 0.41% copper, 0.86% lead, 1.00 g/t gold and 50.41 g/t
silver (11.97% ZnEQ) using a 7.5% zinc equivalent grade cut-off.
(See Technical Report and Mineral Resource Estimate on the Lemarchant Deposit,
South Tally Pond VMS Project, Central Newfoundland, Canada, dated March 2, 2012
filed on SEDAR under Paragon Minerals Corporation).
Canadian Zinc is incorporating the new data from the 2013 drill program into the
Lemarchant geological model and planning for follow-up programs in 2014. Future
drilling will continue to target the expansion of the Lemarchant deposit, the
Northwest zone and surrounding target areas.
Canadian Zinc and its 100%-owned subsidiary, Paragon Minerals Corporation would
like to recognize the Government of Newfoundland and Labrador for its continued
support of the South Tally Pond project through a financial contribution from
the Government's Junior Exploration Assistance Program.
About Canadian Zinc
Canadian Zinc is a TSX-listed exploration and development company trading under
the symbol "CZN". The Company's key projects are the 100%-owned Prairie Creek
property, a fully permitted, advanced-staged zinc-lead-silver property with
mineable reserves, located in the Northwest Territories and the 100% owned South
Tally Pond project, which includes the Lemarchant deposit, along with other
property interests in central Newfoundland.
Canadian Zinc also recently entered into an agreement to acquire Messina
Minerals, a mineral exploration company focused on base metals and gold
properties in central Newfoundland, subject to approval of Messina shareholders
at a Special General Meeting scheduled to be held on December 16, 2013. Messina
holds the South Tulks Hill project with its Boomerang and Domino deposits
situated near the South Tally Pond project. Boomerang and Domino are located
approximately 50 kilometres from the Lemarchant deposit (see CZN press release
dated September 12, 2013).
Quality Assurance and Quality Control
Drillhole intervals are core length and estimated to be near true thickness.
Samples were analyzed for Au Ag, Cu, Pb and Zn at Eastern Analytical Labs in
Springdale, NL from 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 diamond
drill core. All control samples conformed to the accepted contained grades of
base and precious metals. Select samples pulps were shipped to ALS Chemex in
North Vancouver, BC for 33-element ICP analysis for further check assays of
significant base and precious metal bearing samples. Michael J. Vande Guchte.,
P.Geo., VP Canadian Zinc Corporation and VP Exploration for Paragon Minerals
Corporation is responsible for the South Tally Pond exploration program, 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian Zinc Corporation
John F. Kearney
Chairman
(416) 362-6686
(416) 368-5344 (FAX)
Canadian Zinc Corporation
Alan B. Taylor
VP Exploration & Chief Operating Officer
(604) 688-2001 or Toll Free: 1-866-688-2001
(604) 688-2043 (FAX)
Canadian Zinc Corporation
Steve Dawson
VP Corporate Development
(416) 203-1418
(416) 368-5344 (FAX)
invest@canadianzinc.com
www.canadianzinc.com
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