Canadian Zinc Announces Diamond Drill Program for Tulks South and Long Lake Projects, Central Newfoundland
June 18 2014 - 6:00AM
Marketwired Canada
Canadian Zinc Corporation (TSX:CZN)(OTCQB:CZICF) ("the Company" or "Canadian
Zinc") is pleased to announce an 8,000 metre diamond drill program on its wholly
owned Tulks South and Long Lake copper-lead-zinc-silver-gold volcanogenic
massive sulphide ("VMS") projects in central Newfoundland. The drilling is
scheduled to begin in early July and be completed by late September by utilizing
two diamond drill rigs. The 2014 diamond drill program is aimed at:
1. Expanding mineral resources at the Boomerang-Domino Deposit along strike
and to depth, specifically targeting the nearby Hurricane Prospect
mineralization with previous drill intercepts of 13.0% zinc, 8.3% lead,
1.5% copper, 201.0 g/t silver and 0.9 g/t gold over 15.3 metres (GA07-
214, estimated true thickness is 70% of core length reported).
2. Testing for fault-displaced extensions to the Boomerang-Domino
mineralization in areas with coincident geophysical and geochemical
signatures. Limited historical drilling in these areas intersected
favourable stratigraphy similar to that observed at the Boomerang-Domino
Deposit.
3. Extending the mineral resource at the Long Lake Deposit which is located
in a separate geological package 20 km north-northeast of the Boomerang-
Domino Deposit.
Tulks South (Boomerang-Domino Deposit)
The Tulks South project hosts the Boomerang-Domino Deposit, a NI 43-101
compliant indicated mineral resource of 1.36 million tonnes grading 7.1% zinc,
3.0% lead, 0.5% copper, 110 g/t silver and 1.7 g/t gold plus an additional
inferred mineral resource of 0.69 million tonnes grading 6.5% zinc, 2.8% lead,
0.4% copper, 95 g/t silver, and 1.0 g/t gold (Snowden, 2007). The
Boomerang-Domino Deposit remains open for expansion along strike and to depth.
Long Lake (Long Lake Deposit)
The Long Lake project hosts the Long Lake Deposit, a NI 43-101 compliant
indicated mineral resource of 0.48 million tonnes grading 7.8% zinc, 1.6% lead,
0.97% copper, 49 g/t silver and 0.57 g/t gold and inferred mineral resource of
78,000 tonnes grading 5.7% zinc, 1.2% lead, 0.7% copper, 34 g/t silver, and 0.48
g/t gold (SRK, 2012). The Long Lake Deposit remains open for expansion along
strike and to depth.
"We are excited to begin drilling at the Boomerang-Domino and Long Lake massive
sulphide deposits with an aggressive drill program for 2014," said Michael Vande
Guchte, Vice President of Canadian Zinc. "We believe given the geology and the
style of mineralization in this proven mining district that there is excellent
potential for additional massive sulphide mineralization to be discovered. With
this summer-fall program, our goal is to expand the copper-lead-zinc-silver gold
mineral resources at both deposits and begin drill testing other high priority
VMS prospects on the properties."
The Company is also completing geological ground follow-up on numerous priority
targets areas throughout its extensive land holdings in central Newfoundland.
Ground geophysical surveys (gravity and magnetic) are planned over a number of
selected target areas to aid with geological mapping and with new drill
targeting.
In addition to expansion drilling of these NI 43-101 compliant deposits, there
are numerous untested VMS targets on these projects that total 266 km2 in
central Newfoundland. Further details on these and all other Canadian Zinc
projects can be found on the Company's website.
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-staged zinc-lead-silver property, located
in the Northwest Territories.
Canadian Zinc also owns an extensive land package in central Newfoundland that
it is exploring for Cu-Pb-Zn-Ag-Au deposits. Key projects include the South
Tally Pond project (Lemarchant deposit), the Tulks South project
(Boomerang-Domino deposit) and Long Lake project (Long Lake deposit). The
Company's strategy is to continue build the zinc-copper-lead-silver-gold
resources base with the aim of developing the deposits through a central milling
facility.
Qualified Person
Alan Taylor, P.Geo., Vice President of Exploration, Chief Operating Officer and
Director of the Company, who is a Non-Independent Qualified Person as defined in
National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has
prepared, supervised the preparation of, or reviewed, parts of this press
release that are of a scientific or technical nature.
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
Vice President Exploration & Chief Operating Officer
(604) 688-2001
(604) 688-2043 (FAX)
Tollfree: 1-866-688-2001
Canadian Zinc Corporation
Steve Dawson
Vice President Corporate Development
(416) 203-1418
(416) 368-5344 (FAX)
invest@canadianzinc.com
www.canadianzinc.com
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