Canadian Zinc Corporation: Assay Results of 2013 Drill Program at
Prairie Creek
-- Vein and stockwork mineralization intersected
-- Stratabound massive sulphides intercepted within 60 metres of
surface
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 9, 2013) -
Canadian Zinc Corporation (TSX:CZN)(OTCQB:CZICF) ("the Company" or
"Canadian Zinc") is pleased to report assay results from the 2013
diamond drill exploration program on the Company's 100% owned
Prairie Creek Mine Site property in the Northwest Territories.
Diamond Drill Exploration Program
The 2013 diamond drilling program at Prairie Creek completed
1,472 m of coring over 5 holes. Exploration focused on two areas:
firstly, the multi-stacked electromagnetic ('EM') geophysical
anomaly identified in 2012 approximately 900 m from the mill site,
and, secondly, a small exploratory drill program immediately
adjacent to the existing concentrator plant.
Geophysical Anomaly Drill Program
Two diamond drill holes, PC-13-220 and PC-13-222, collared about
320 m apart, which totaled 1,068 m of drilling tested a 900 m wide
multi-channel EM anomaly identified in 2012. At the same time hole
PC-13-220 was also designed to add further detail to the current
National Instrument ("NI") 43-101 mineral resource by intercepting
projections of previously defined vein and stockwork mineralization
within the upper parts of the hole.
Assay results for the 2013 Geophysical Anomaly Drill Program are
as follows:
Hole |
Zone |
From (m) |
To (m) |
Length (m) |
Pb (%) |
Zn (%) |
Ag (g/t) |
PC-13-220 |
Main Quartz Vein |
193.0 |
198.1 |
5.1 |
5.3 |
12.1 |
98 |
PC-13-220 |
Stockwork |
200.2 |
203.1 |
2.9 |
6.7 |
12.3 |
116 |
PC-13-220 |
Stockwork |
207.9 |
213.0 |
5.1 |
8.0 |
13.2 |
144 |
PC-13-220 |
Stockwork |
258.9 |
259.9 |
1.0 |
5.6 |
34.7 |
342 |
PC-13-222 |
Vein |
373.6 |
374.6 |
1.0 |
16.6 |
1.6 |
125 |
Both holes are projected to have tested the main part of the
geophysical anomaly at depth. Interpretations based on current data
suggest that the EM anomaly is likely due to inherent natural
variations in graphite content within the Road River Formation.
The Main Quartz Vein hosts the majority of the presently defined
mineral resource at Prairie Creek and the intercept in Hole
PC-13-220 is located outside and above the current NI 43-101
resource.
The stockwork is a series of narrow high-grade veins at oblique
angles to the main vein and hole PC-13-222 intercepted an
additional vein at depth.
This new drilling data will now be incorporated into the Prairie
Creek mineral resource model for further interpretation.
Exploratory Drill Program
A total of 404 m over three holes, PC-13-221, PC-13-223 and
PC-13-224, were drilled immediately adjacent to the existing
concentrator plant.
Holes PC-13-223 and PC-13-224 both intersected stratabound
massive sulphides only 60 m below surface and outside the present
defined resource block. In addition a number of significant veins
were also intersected at shallow depth.
Significant assay results for the 2013 Training Drill Program
are as follows:
Hole |
Zone |
From (m) |
To (m) |
Length (m) |
Pb (%) |
Zn (%) |
Ag (g/t) |
PC-13-223 |
Stratabound |
83.6 |
84.6 |
1.0 |
6.2 |
19.7 |
66 |
PC-13-224 |
Vein |
28.9 |
29.6 |
0.7 |
23.0 |
20.7 |
268 |
PC-13-224 |
Vein |
34.8 |
38.1 |
3.3 |
2.6 |
7.6 |
34 |
PC-13-224 |
Vein |
47.2 |
48.2 |
1.0 |
5.6 |
8.8 |
97 |
PC-13-224 |
Stratabound |
87.0 |
88.0 |
1.0 |
2.6 |
5.4 |
18 |
Previous drilling in two holes had intercepted stratabound
massive sulphide in this locality and the recent additional
intercepts, along with the veins intercepted, warrant additional
exploration in future programs.
This four week drill campaign was completed as a drill training
program utilizing one of CZN's drill rigs as part of continuing
training programs at Prairie Creek Mine Site. Assistance to program
funding was provided from the Federal Government, Human Resources
and Skills Development Canada, in the $4.2 million "More Than a
Silver Lining" aboriginal training program, specifically
designed for the Prairie Creek Mine, administered by the
NWT Mine Training Society and assisted by the Government of the
Northwest Territories. This provided four trainees, from local
aboriginal communities, with hands-on experience in the operation
of exploration diamond drills and completing various drilling
tasks.
Quality Assurance/Quality Control
The drill core samples were cut by diamond saw and securely,
through chain of custody, shipped to AGAT Laboratories for initial
multi-element assay by ICP-OES analysis. Further assays and
analysis was completed where appropriate and standards, duplicates
and blanks were inserted and included within the analysis. Alan
Taylor, P. Geo., Chief Operating Officer & Vice President
Exploration and a Director of Canadian Zinc Corporation, is
responsible for the exploration program, and is a Qualified Person
for the purposes of NI 43-101 and has approved this press
release.
Prairie Creek Project Background
The Prairie Creek project, 100% owned by Canadian Zinc, is an
advanced-stage zinc-lead-silver property located in the Northwest
Territories in Canada. The Prairie Creek Project contains a Mineral
Reserve of 5.2 million tonnes averaging 9.4% zinc, 9.5% lead and
151 g/t silver. In addition, Prairie Creek hosts an Inferred
Resource of 6.2 million tonnes averaging 14.5% zinc, 11.5% lead,
0.57% copper and 229 g/t silver. (AMC Mining Consultants (Canada)
Ltd. J M Shannon and D Nussipakynova, Qualified Persons, June
2012).
Prairie Creek is an underground operation that will utilize
multiple mining methods to access readily available ore. Canadian
Zinc has the majority of infrastructure in place including a 1,000
tonne per day mill, five kilometres of underground workings and
related equipment, a heavy duty and light duty surface fleet, three
exploration diamond drills and a 1,000 m airstrip.
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.
Canadian Zinc CorporationJohn F. KearneyChairman(416)
362-6686(416) 368-5344Canadian Zinc CorporationAlan B. TaylorVP
Exploration & Chief Operating Officer(604) 688-2001or Toll
Free: 1-866-688-2001(604) 688-2043Canadian Zinc CorporationSteve
DawsonVP Corporate Development(416) 203-1418(416)
368-5344invest@canadianzinc.comwww.canadianzinc.com
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