2012

Drilling Intersects 14.54% Zinc + Lead over 8.5 metres in A-11-98 on the Cardiac Creek Deposit.

Vancouver, British Columbia, Canada – Monday, January 30, 2012 – Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) is pleased to announce further drill results from the 2011 exploration drill program on the 100% owned Akie Project.

The Akie property, host to the Cardiac Creek SEDEX Zn-Pb-Ag deposit, is located approximately 260 kilometers north-northwest of the town of Mackenzie, in northeastern British Columbia, Canada. The Company also owns the Kechika group of regional properties that extend northwest from the Akie property for 140 kilometers, centered along the prospective stratigraphy of the Gunsteel Formation of Northeastern BC. The 2011 exploration program included a regional program focused principally on 2 southern claim groupings, the Pie and the Mt. Alcock properties.

Akie Property:

Diamond drilling on the Akie property commenced in May and lasted approximately 4 months. Work included HQ diamond drilling on several targets across the Akie property, including the SE Extension, Cardiac Creek Zone, the NW Extension and the GPS bedded barite showing. The drilling program consisted of 12 holes totaling 5,667.81 metres that were drilled to their planned depths.  Please refer to press releases dated December 5th, 2011 and December 21st, 2011 for previously released 2011 drill results. The updated results from the drilling program are summarized below.  

Cardiac Creek Deposit

A total of 6 drill holes (A-11-92, A-11-93, A-11-95, A-11-96, A-11-98, A-11-99) were completed on the Cardiac Creek deposit. These holes provided infill information both up and down-dip as well as testing the strike extent of the high grade trend along the southeastern edge of the deposit. Step-out drilling was also conducted to the southeast designed to expand the known limits of the deposit.

Canada Zinc Metals has now received assay results from all six of the Cardiac Creek Zone drill holes. This includes the previously reported holes A-11-92, A-11-93, A-11-95 and A-11-96, and new results from A-11-98 and A-11-99.

The pierce point for hole A-11-98 represents an approximate 100 metre step-out along strike from A-08-58 and up-dip from A-06-40 and A-08-66. Highlights include 11.27% Zn+Pb and 14.08 g/t Ag over 12.67 metres, including 14.54% Zn+Pb and 17.01 g/t Ag over 8.5 metres. The results from this hole continue to demonstrate the high-grade continuity of the mineralization along the southeastern margins of the deposit, which remains open for further drilling to the southeast.

The pierce point for hole A-11-99 is located approximately 130 metres down-dip from A-06-41 in an untested area of the deposit. Drilling intersected a very large 60.3 metre interval of Proximal facies transitioning to Cardiac Creek Zone facies style of mineralization. Highlights include 5.08% Zn+Pb and 9.58 g/t Ag over 5.98 metres. The area remains open for further drilling and continued expansion of the deposit at depth.

Highlights from the results of the 2011 Cardiac Creek Zone program, including these two drill holes, are outlined in the table below.

Drill Hole
From
(m)
To
(m)
Est .True Width(m)†
Zn
(%)
Pb
(%)
Ag
(g/t)
Zn+Pb
(%)
A-11-92**
599.24
607.50
6.04
1.83
0.30
5.43
2.13
Including
599.24
602.46
2.35
3.41
0.58
7.72
3.99
A-11-93**
533.61
552.02
15.22
6.61
1.45
9.84
8.06
Including
538.13
548.44
8.52
8.60
2.02
11.82
10.62
Including
538.13
541.50
2.78
13.99
3.67
16.53
17.66
A-11-95**
544.13
559.33
12.72
3.98
0.61
6.84*
4.59
Including
555.59
559.33
3.13
7.40
1.28
10.13*
8.68
A-11-96**
296.97
313.28
13.47
7.15
1.24
11.18
8.39
Including
300.00
311.91
9.83
7.42
1.29
11.32
8.71
Including
305.52
311.91
5.28
8.59
1.42
12.43
10.01
A-11-98
435.75
450.42
12.67
9.69
1.58
14.08
11.27
Including
436.91
449.78
11.11
10.36
1.71
14.59
12.07
Including
439.94
449.78
8.50
12.50
2.04
17.01
14.54
A-11-99
675.44
688.25
5.98
4.31
0.77
9.58
5.08
Including
678.60
683.34
2.21
5.18
0.94
11.94
6.12
And
708.49
730.72
10.42
1.21
0.18
3.22
1.39

(*) For the purposes of weighted averages values below the detection limit were given a value half the detection limit
(†) True width calculations are based upon a deposit orientation striking at 130 degrees and dipping at -70 degrees and are subject to revision.
(**) Previously released December 5th, 2011 and December 21st, 2011.

NW Extension

Drilling at the NW Extension followed up on promising proximal facies mineralization encountered in the 2010 drill program, including hole A-10-69 and the newly discovered Nick-style nickel-zinc rich mineralization in hole A-10-72. A five drill hole program (A-11-87 to A-11-91) totaling 1,708.22 metres was completed to test these discoveries.

Results have now been received from the final two drill holes A-11-90 and A-11-91. Drill hole A-11-90, located approximately 400 metres along strike of hole A-10-69, tested the development of Nick–style Ni-Zn mineralization up-dip of the intercept encountered in hole A-10-72. Due to brittle faulting at the projected point of intersection, the Nick horizon was not intersected. However, a significant interval of Proximal facies bedded pyrite mineralization was intersected over 41.1 metres, returning a 22.5 metre interval grading 0.31% Zn which includes samples returning 1.33% and 1.30% zinc. The mineralization and stratigraphy in hole A-11-90 is similar in character to that observed at the North Lead Anomaly and the presence of sub-economic zinc grades within the mineralization is indicative of the wider prospectivity of the target. The North Lead Anomaly remains a high priority for future exploration. While drill holes A-11-87 to A-11-89 tested the strike and up-dip extents of the proximal facies mineralization in the immediate vicinity of A-10-69, A-11-91 tested the down-dip extent. No significant mineralization was intersected at the anticipated target depth. It appears that brittle faulting has displaced the mineralization observed up-dip in the previous drill holes. This drill hole will be analyzed to determine the nature of the faulting present and attempt to calculate the distance that the mineralization has been displaced in order to guide future exploration at depth in this area. The Proximal facies mineralization present at the NW Extension remains open along strike and up-dip. The table below outlines the results for the NW Extension:

Drill Hole
From
(m)
To
(m)
Est. True Width(m)*
Zn
(%)
Pb
(%)
Ag
(g/t)
Zn+Pb
(%)
A-11-87**
172.03
196.71
20.53
0.18
<0.01
1.99
0.18
A-11-88**
206.26
223.82
10.96
0.38
0.03
3.02
0.41
and
240.89
242.46
0.98
6.99
0.25
2.35
7.24
A-11-89**
218.29
237.29
13.68
0.16
<0.01
1.92
0.16
and
245.06
255.95
7.85
0.17
<0.01
1.01
0.17
and
275.00
293.67
13.48
0.38
0.01
1.71
0.39
A-11-90
151.26
173.24
16.82
0.31
0.02
2.85
0.33
A-11-91
No Significant Results

(*)True width calculations are based upon a deposit orientation striking at 130 degrees and dipping at -70 degrees and are subject to revision.
(**) Previously released December 5th, 2011 and December 21st, 2011.

About the Akie Property

The Akie zinc-lead property is situated within the southernmost area (Kechika Trough) of the regionally extensive Paleozoic Selwyn Basin, one of the most prolific sedimentary basins in the world for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.

Drilling on the Akie property by Inmet Mining Corporation during the period 1994 to 1996 and by Canada Zinc Metals since 2005 has identified a significant body of baritic-zinc-lead SEDEX mineralization (Cardiac Creek deposit).  The deposit is hosted by siliceous, carbonaceous, fine grained clastic rocks of the Middle to Late Devonian ‘Gunsteel’ formation.  The Company has outlined a NI 43-101 compliant inferred resource of 23.6 million tonnes grading 7.6% zinc, 1.5% lead and 13.0 g/t silver (at a 5% zinc cut off grade). 

Two similar deposits, Cirque and Cirque South Cirque, located some 20 km northwest of Akie and owned under a joint venture by Teck Resources and Korea Zinc, are also hosted by Gunsteel rocks and have a combined geologic inventory in excess of 50 million tonnes (not 43-101 compliant) grading approximately 10% Zn+Pb.

In addition to the Akie property, Canada Zinc Metals Corp. controls a large contiguous group of claims which comprise the Kechika Regional project. These claims are underlain by geology identical to that on the Akie property (Cardiac Creek deposit) and Cirque. This project includes the  100% owned Mt. Alcock property, which has yielded a historic drill intercept of 8.8 metres grading 9.3% Zn+Pb, numerous zinc-lead-barite occurrences,  and several regional base metal anomalies.

Ken MacDonald P.Geo., Vice President of Exploration, is the designated Qualified Person as defined by National Instrument 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”
                                                           
PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN

©2008 Canada Zinc Metals Corp.
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