Canadian Zinc Corporation: Drilling Intersects Additional Massive
Sulphide Mineralization at South Tally Pond Project, Newfoundland
Highlights include 8.21% zinc, 3.66% lead, 0.72% copper, 150.0
g/t silver and 3.24 g/t gold over 8.7 metres from the Northwest
zone
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 11, 2013) -
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 |
Drillhole |
Section |
From (m) |
To (m) |
Interval (m) |
Zinc (%) |
Lead (%) |
Copper (%) |
Silver (g/t) |
Gold (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.
Canadian Zinc CorporationJohn F. KearneyChairman(416)
362-6686(416) 368-5344Canadian Zinc CorporationAlan B. TaylorVP
Exploration & Chief Operating Officer(604) 688-2001 or 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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