Vancouver, British Columbia, Canada – Thursday, October 22, 2015 – Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) is pleased to announce new assays results have been received for drill holes A-15-124 and A-15-125 which focused on expanding the current indicated resource as well as the known extents of the high-grade zinc-lead-silver system in the central core of the Cardiac Creek deposit on the Akie property.
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
The 2015 Akie drill program was concluded in late September with a total of 5,350 metres drilled in eight drill holes. Results have now been received from four drill holes totaling 2,278 metres; with results pending from four additional holes. Results from drill hole A-15-121 and drill hole A-15-122 were previously released on September 2, 2015 and are included in the table below highlighting the latest results. Drill hole A-15-123 was abandoned downhole at a depth of 270.66 metres due to excessive deviation and re-started as drill hole A-15-124.
Drill hole A-15-124 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 hole A-05-32. Previously reported results from A-05-32 include: 26.7 metres (core length) of 14.69% Zn+Pb.
The hole intersected a 30 metre interval of proximal facies pyrite mineralization overlying the Cardiac Creek Zone. The Cardiac Creek Zone consisted of three main sections extending over a downhole length of 55.28 metres separated by intervals of weakly mineralized shale. The first section occurred immediately below proximal facies mineralization and consisted of approximately 40% visible sulphide bedding with sphalerite bands over a downhole interval of 19.87 metres. The second section is characterized by approximately 60% visible sulphide bedding with mottled sphalerite bands with galena over a downhole interval of 8.73 metres. The last section is a well-developed zone of Cardiac Creek style mineralisation with approximately 65-70% visible sulphide bedding throughout, over a downhole interval of 15.81 metres. The hole was finished in calcareous siltstone at a total depth of 708.66 metres.
A-15-124 contains an extensive interval of mineralisation that is present from 577.63 to 662.30 metres that grades 5.47% combined Zn+Pb and 9.20 g/t Ag over a true width of 58.53 metres. The Cardiac Creek Zone, included within that interval from 601.13 to 656.41 metres, returned 7.72% combined Zn+Pb and 12.30 g/t Ag over a true width of 38.43 metres. Higher grade intervals include 11.58 % Zn+Pb and 18.22 g/t Ag over a true width of 21.41 metres, and 17.20% Zn+Pb and 26.43 g/t Ag over a true width of 11.09 metres. The results from A-15-124 are tabulated below.
Drill hole A-15-125 targeted the up-dip extents of the high grade core of the Cardiac Creek deposit with the intended pierce point located between holes A-07-49 and A-07-50 and along strike of A-07-53 with an approximate separation of 75 metres. Previously reported results from these surrounding holes included: 20.19 metres (core length) of 13.65% Zn+Pb in A-07-49, 20.98 metres (core length) of 20.08% Zn+Pb in A-07-50, and 16.23 metres (core length) of 15.15% Zn+Pb in A-07-53.
The hole intersected a thin 6.67 metre interval of proximal facies pyrite mineralisation before shifting into the Cardiac Creek Zone at 416.05 metres. The zone, extending to a depth of 439.91 metres, is characterized by laminar pyrite with steadily increasing amounts of mottled sphalerite banding with galena occurring downhole. Based on visual estimates, higher grade Cardiac Creek mineralization occurred from 429.98 to 439.91 metres. In this interval, the mineralisation is dominantly mottled sphalerite-quartz-carbonate-galena, with minor laminated pyrite. Disseminated galena is fine grained and in close association with the mottling textures. Visible mineralisation makes up approximately 45% of the interval. The hole was terminated at a depth of 461.64 metres in Road River Group siltstone.
The Cardiac Creek Zone was intersected from 414.85 to 441.62 metres and returned 8.53% combined Zn+Pb and 12.28 g/t Ag over a true width of 23.37 metres. Inclusive higher grade intervals include 11.45% Zn+Pb and 15.75 g/t Ag over a true width of 15.76 metres, and 15.45% Zn+Pb and 21.76 g/t Ag over a true width of 8.68 metres.
The results from A-15-124 and A-15-125 are tabulated below.
||True Width (m)*
(*) The true width is calculated from orientation of the mineralised horizon which is estimated to have an azimuth of 130 degrees and a dip of -70 degrees. (†) Previously reported 2015 results. (FW) = Footwall Zone, (MS) = Massive Sulphide.
Peeyush Varshney, President and CEO of the Company, commented, "We are very pleased with the consistency of high grade mineralisation present within the core of the Cardiac Creek deposit. We feel that the recent results successfully extend the known down-dip extents of the mineralized horizon and that significant potential exists to expand the high grade core both up- and down–dip in subsequent drilling programs.
The drilling so far this season has exceeded expectations and we look forward to reporting further drill results in the coming months.”
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. Over limit 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 securely 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