Vancouver, British Columbia, Canada – Wednesday, September 2, 2015 – Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) is pleased to announce that assays results have been received from the first two drill holes of the 2015 Akie drill program. The Company previously announced plans for 5,000 metres of large-diameter HQ diamond drilling on the property focused on resource expansion down-dip of the current indicated resource and expansion of the robust and high-grade zinc-lead-silver system in the central core of the Cardiac Creek deposit (see Press Release dated May 12, 2015).
The Company owns 100% of eleven, large, contiguous property blocks that comprise the Akie and Kechika Regional projects. The Company’s flagship Akie Project is host to the Cardiac Creek deposit. The Kechika Regional Project includes the Pie, Yuen, Cirque East and Mt. Alcock properties extending northwest from the Akie property for approximately 140 kilometres along the strike of the highly prospective Gunsteel Formation shale; the main host rock for known SEDEX zinc-lead-silver deposits in the Kechika Trough of northeastern British Columbia. These projects are located approximately 260 kilometres north northwest of the town of Mackenzie, British Columbia, Canada.
2015 Drill Assay Results
Results have been received from the first two drill holes totaling 1,107 metres of a planned 5,000 metre drill program. Results from three additional holes are currently pending. The program is expected to continue into September with several more planned drill holes to be completed.
Drill hole A-15-121 targeted the high grade core of the Cardiac Creek deposit with the intended pierce point located approximately 75 metres down-dip of the high grade holes A-05-32, A-07-50, and A-07-53. Previously reported results from these hole include; 26.70 metres of 14.69% Zn+Pb in A-05-32, 29.40 metres of 15.78% Zn+Pb in A-07-50, and 16.23 metres of 15.15% Zn+Pb in A-07-53. The objective of this target was to expand the known high grade mineralisation down-dip and the limits of the 5% Zn cut-off indicated resource.
The hole collared into typical black, siliceous Gunsteel Formation shale with several intervals of distal mineralisation consisting of laminar pyrite and nodular barite. The hole transitioned into a broad zone of Gunsteel Formation shale interbedded with increasing amounts of proximal facies mineralisation at a depth of 401.85 metres. The proximal facies mineralisation is characterised by thick beds of very fine grained, laminar pyrite interbedded with occasional bands of very fine grained, grey sphalerite.
The Cardiac Creek Zone was intersected at a downhole depth of 433.87 metres and continued to 483.32 metres. The zone is characterised by very thick sulphide beds consisting primarily of fine to very fine grained grey sphalerite, galena and pyrite laminations. Higher grade sections of individual sulphide beds display a mottled texture comprised of sphalerite, galena, quartz and barite. The high grade nature of the Cardiac Creek Zone, as indicated by the mottling textures observed within the mineralisation, was the intended target for this drill hole.
Underlying the Cardiac Creek Zone is a strongly mineralised Footwall Zone (FW), intersected from 493.08 to 508.48 metres, and consisting of interbedded sphalerite and galena-enriched, mottled sulphide beds and massive granular barite with minor quartz-carbonate veining. Underlying the Footwall Zone are several beds of massive barite with laminar pyrite and sphalerite enrichment interbedded with shale that extends to 523.06 metres.
A 12.46 metre thick massive sulphide lens (MS) was intersected from 523.06 to 535.52 metres comprised primarily of bright brassy yellow pyrite. Central to this sulphide lens is a zone enriched with carbonate and pink to grey sphalerite with galena enrichment. The massive sulphide lens graded into a debris flow cemented by bright brassy yellow pyrite. The hole continued into typical basement lithologies and was shut down at a depth of 554.17 metres.
The entire mineralized interval extending from 419.16 to 531.00 metres returned 7.34% combined Zn+Pb and 14.24 g/t Ag over a true width of 64.29 metres. The Cardiac Creek Zone, Footwall Zone and the massive sulphide lens are contained within this extensive envelope of mineralisation. The results from these zones are tabulated below and include 28.51 metres (true width) of 10.22% Zn, 2.34% Pb and 20.45 g/t Ag for a total of 12.56% combined Zn+Pb from the Cardiac Creek zone. Also included within this mineralized interval was 12.98 metres ( true width) of 13.83% Zn , 3.23% Pb and 28.98 g/t Ag for a total of 17.06% combined Zn + Pb. The Footwall zone (FW) returned 8.86 metres (true width) of 8.88% Zn, 1.36% Pb, and 21.51 g/t Ag for a total of 10.24% combined Zn+Pb. The extremely high grade character of the Cardiac Creek and Footwall Zone is evident. Assay results from the zone returned a total of 38 samples grading >10% Zn of which 8 samples, representing an aggregate core length of 5.41 metres, returned values >20% Zn. Lead grades are equally significant with values reaching 6.34% and silver grades reaching 51.5 g/t. Select results are tabulated below.
Drill hole A-15-122 targeted the lateral strike extents of the high grade core within the Cardiac Creek deposit with the intended pierce point located between holes A-07-48 and A-08-65 and along strike of A-07-51 with an approximate separation of 75 metres. Previously reported results from these surrounding holes included: 7.04 metres (core length) of 10.14% Zn+Pb in A-07-48, 24.54 metres (core length) of 15.49% Zn+Pb in A-07-51, and 17.82 metres (true width) of 11.77% Zn+Pb in A-08-65.
From the collar to a depth of 417.18 metres the hole intersected several intervals of distal mineralisation consisting of very fine grained, laminar pyrite and nodular barite interbedded with black shale. The proximal facies mineralisation was intersected from 417.18 to 487.22 metres and consisted of up to 30 centimetre thick beds of dominantly very fine grained, laminar pyrite, minor nodular barite and rare bands of very fine grained sphalerite. The Cardiac Creek Zone was present from 488.97 to 516.50 metres with a shale interbed from 495.32 to 497.70 metres. Mineralisation is characterised by thick sulphide beds comprised of very fine grained, grey sphalerite, cream colored sphalerite and mottle textured quartz – carbonate – sphalerite – galena. Galena is disseminated within grey sphalerite and mottled mineralisation. The hole was shut down in calcareous siltstone of the Road River Group at a depth of 553.21 meters.
A broad envelope of mineralisation is present from 474.45 to 519.30 metres and returned 6.87% combined Zn+Pb and 11.16 g/t Ag over a true width of 39.16 metres. The Cardiac Creek zone returned 10.31% combined Zn+Pb and 14.64 g/t Ag over a true width of 23.36 metres including 12.35 metres (true width) grading 13.62% combined Zn+Pb and 17.92 g/t Ag. These high grade intervals are outlined in the table below. Hole A-15-122 continues to demonstrate the high grade character within the core of the deposit. A total of 16 samples representing an aggregate core length of 12.72 metres returned assays >10% Zn with grades reaching 19.13% Zn. The lead and silver grades are also significant with assays reaching 3.46% Pb and 26.7 g/t Ag.
||True Width (m)*
(*) The true width is calculated utilising the Gemcom software package. The orientation of the mineralised horizon is estimated to have an azimuth of 130 degrees and a dip of -70 degrees. (FW) = Footwall Zone, (MS) = Massive Sulphide.
Peeyush Varshney, President and CEO of the Company stated, "We are excited to announce new drilling results from the Cardiac Creek deposit. The results from hole A-15-121 continue to expand the known high-grade mineralisation within the core of the deposit by approximately 70 metres down-dip of the current limits.”
Mr. Varshney continued, “Assays from the first 2 holes of the 2015 exploration drill program continue to confirm our understanding that the high grade core of the deposit continues laterally and at depth. We are excited to report the results from both holes and especially A-15-121 which returned one of the best intercepts ever obtained from drilling on the deposit.”
Canada Zinc Metals has implemented a rigorous quality assurance/quality control program at the Akie property using best industry practices. All drill core is logged for geology, structure, veining, alteration, mineralisation, and RQD. Sections of sulphide mineralisation are marked for sampling by a geologist and a series of standards, duplicates and blanks are inserted into the sample stream for QA/QC purposes. Prior to the cutting of samples, all core boxes are photographed for due diligence and record keeping purposes. The samples are split by a diamond saw, tagged and bagged and forwarded to Acme Labs (a Bureau Veritas Group Company) of Vancouver, BC, for analysis. Documentation recording the chain of custody is kept for each shipment.
Assays for zinc, lead and silver are obtained using Acme Labs AQ270 analytical package with sample digestion using aqua regia solution followed by ICP-ES and ICP-MS analyses. Barium content is determined by Acme Labs LF300 analytical package using LiBO2/LiB4O7 fusion and ACS grade nitric acid followed by ICP-ES analysis. Overlimit values of lead and zinc are rerun using Bureau Veritas AQ371 analytical package using a hot aqua regia solution followed by ICP-ES analyses. Check assays on drill pulps are routinely conducted by ALS Minerals of North Vancouver, BC with their OG46 analytical package using aqua regia digestion and ICP-ES analysis. All remaining drill core is stored at the Akie exploration camp.
The Akie Zn-Pb-Ag Project
The Akie property is situated within the Kechika Trough, the southernmost area 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 Canada Zinc Metals since 2005 has identified a significant body of baritic-zinc-lead-silver SEDEX mineralisation known as the 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 mineral resource at Cardiac Creek, including an indicated resource of 12.7 million tonnes grading 8.4% zinc, 1.7% lead and 13.7 g/t silver (at a 5% zinc cut-off grade) and an inferred resource of 16.3 million tonnes grading 7.4% zinc, 1.3% lead and 11.6 g/t silver (at a 5% zinc cut-off grade).
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, LL.B
CEO & CHAIRMAN