Sulphide Vent Complex/Feeder Zone Identified At The North Lead Anomaly,
Akie Zinc-Lead Property
Vancouver, B.C. –Tuesday, November 18, 2008 – Canada Zinc Metals Corp. (TSX Venture: CZX, Frankfurt: A0F7E1) (“Canada Zinc”or the “Company”) is pleased to report on the recently completed exploration activities carried out at the ‘North Lead Anomaly’, a high priority target on its 100% owned Akie property located in northeastern British Columbia, approximately 260 kilometres north-northwest of the town of Mackenzie.
North Lead Anomaly.
The ‘North Lead Anomaly’ is a large (200m x 1000m), open-ended, lead-in-soil (70 to 624 ppm lead) anomaly located approximately 2.3 kilometers north of the nearest Cardiac Creek deposit drill hole to intersect significant mineralization (A-07-46: 2.12 metres grading 8.58% zinc and 1.86% lead). In 1996, the area was tested with one drill hole by Inmet Mining Corporation, encountering Gunsteel formation containing 45 meters of pyrite-bearing (5% to 12%), siliceous shale, followed by a 0.8 metere wide interval of massive sulphide mineralization consisting of pyrite, sphalerite and galena. Veins and stringers of similar material were noted in the footwall Road River silty carbonates. The massive sulphide horizon yielded grades of 11.60% zinc and 9.05% lead. The stratigraphic position of this mineralization appears to be identical to that of the Cardiac Creek deposit.
In August, 2008, the Company completed two holes (A-08-62 and 63) to test the down-dip and up-dip extension, approximately 70 metres in each direction, of the massive sulphide mineralization observed in the Inmet hole. These holes were successful in encountering sulphide mineralization that suggests proximity to more massive sulphides. Definitive observations include:
- The mineralization present in the Inmet hole is closely associated with an underlying debris flow in which the carbonate fragments and matrix are replaced by pyrite, +/- sphalerite, +/- galena. A similar situation is observed in both of the 2008 holes, where zinc and lead values, which increase updip, are locally as high as 9.82% and 0.17%, respectively. Of particular interest is the presence of finely banded, pinkish sphalerite in the matrix of the second (updip) 2008 hole. These characteristics are also noted in several holes located at the northern end of the Cardiac Creek deposit. Such debris flows may reflect the presence of an underlying synsedimentary fault zone, a feature that is interpreted as a conduit for metal-bearing hydrothermal fluids.
- Bedded pyrite, identical to that present in the hanging wall to the Cardiac Creek deposit and the 1996 Inmet hole, occurs in both of 2008 drill holes. These beds are highly anomalous in zinc, with values ranging from 0.1% to 0.65%, with grade generally increasing updip.
- Drill hole A-08-63 (the updip hole) encountered alteration, consisting of silicification and associated pyrite, that extends some 30 metres into the Road River footwall rocks before dissipating into localized patches. Locally, within this alteration, the rock is brecciated by sphalerite rich sulphide stringers that have returned zinc values of up to 8.48%. Alteration of this type is also noted in the higher grade parts of the Cardiac Creek deposit, particularly in the northwestern portion.
Features of the type noted above are commonly associated with vent complexes and underlying feeder zones of proximal facies sedimentary exhalative (SEDEX) zinc-lead deposits worldwide and suggest that a similar environment may exist in the northern portion of the Akie property. This premise is supported by the fact that lead/lead+zinc ratios in soil samples collected on the property exhibit higher values in this area. The importance of recognizing the vent zone in this type of deposit is that the zinc+lead grade is commonly highest at the transition between it and the laterally extensive bedded (or distal) ore facies.
“Our drilling of the North Lead Anomaly target this year has been extremely encouraging as the results verify that the area is a likely source of additional hydrothermal fluid flow. We have always believed that additional discoveries on trend from the Cardiac Creek deposit exist and these very positive results, over 2 kilometres distant from the Cardiac Creek deposit, confirm the significant potential. This area of the Akie property remains a high priority exploration target,” stated Jim Mustard, President of Canada Zinc Metals.
John R. Fraser, P.Geo. (B.C.), Vice President of Exploration and a Director of Mantle Resources, is the Qualified Person for the Company, as defined by NI 43-101, and is responsible for the technical information contained in this release.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
CANADA ZINC METALS CORP.
PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN