Vancouver, British Columbia, Canada – Thursday, September 17th, 2015 – Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) is pleased to announce the preliminary results of the recently completed airborne gravity geophysical program (the "Program") on the Company's Akie zinc-lead-silver project located in northeastern British Columbia.
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 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.
Airborne Gravity Survey
The Company, in conjunction with its geophysical consultants, has completed a preliminary review of airborne gravity gradiometry (“AGG”) data acquired on the Akie, Mt. Alcock and Yuen North properties in late 2014 and early 2015 (see previous news release dated April 10, 2015). The data review has identified a number of preliminary high priority targets that require further review and field evaluation which may lead to development of new drill targets.
The preliminary targets were selected from a number of distinct gravity anomalies generated by the AGG survey. Targets were given priority based on anomaly strength, shape, and coincidence with airborne VTEM data, prospective geology and soil geochemistry.
Anomalies with favourable coincident airborne electromagnetic (“EM”) responses were assigned a higher priority, as were those in the vicinity of known SEDEX style barite ± pyrite surface showings.
CGG of Mississauga, Ontario, completed the HELIFALCON® Airborne Gravity Gradiometer (AGG) survey on behalf of the Company. Flight lines were flown orthogonal to the dominant geological fabric of the area (NE–SW @ azimuth 50°) with a nominal line spacing of 200 metres. A total of 26 production flights were flown for a combined total of 962.36 line kilometres of data acquired over the three survey blocks. Aggregate coverage on the Akie claim block totaled 95 square kilometres while aggregate coverage on the Yuen North and Mt. Alcock block amounted to 89 square kilometres.
Post-processing of the data included removal of the effects of topography by terrain correction of the digital terrain model, using a variety of methods and data sets, including the onboard instrumentation together with detailed LiDAR data from the Akie property.
The corrected gravity data was then examined in grid image and profile form by Campbell and Walker Geophysics Ltd. (“CWG”) of North Vancouver, BC. This consulting group has extensive experience in the interpretation and modelling of gravity data in complex terrains.
CWG modelled higher priority targets to aid in defining the best locations for potential drill collars. Through this interactive process CWG has recommended close field examination of these high priority drill targets.
Results of the helicopter-borne gravity survey achieved the following objectives:
- Identified important structural features on the Akie and Mt. Alcock/Yuen North properties
- Detected several distinct gravity highs that may be related to possible barite-dominated SEDEX style mineralization in conductive sediments of the favourable host Gunsteel Formation
- Discovered new targets including several outlying gravity high targets that are coincident with VTEM anomalies, host stratigraphy, and soil geochemistry
The Company expects the final interpretation to be completed shortly and the preliminary targets will be refined to a number of high priority targets. These targets will be evaluated and tested in upcoming exploration programs on the Akie and Mt. Alcock properties.
Peeyush Varshney, President and CEO of the Company, commented, "The data collected from the airborne gravity program has elevated our understanding of the structural architecture and basinal setting that underlie the Akie, Yuen North and Mt. Alcock properties. The preliminary interpretive results have identified several key areas of interest on the two property blocks that we will evaluate and refine in the coming months. The highest priority targets will be assessed as potential drill targets to be tested in subsequent exploration programs.”
Separately, the Company announces that its directors and officers have voluntarily surrendered a total of 3,365,000 previously granted stock options. The Company currently has 152,414,428 shares issued and outstanding, and on a fully diluted basis, the number has been reduced to 161,212,303.
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 and 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 SEDEX mineralization 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