Vancouver, British Columbia, Canada – Thursday, April 21, 2016 – Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) is pleased to announce it has engaged an independent consultant to update the current National Instrument (NI) 43-101-compliant resource estimate for the Cardiac Creek SEDEX Zn-Pb-Ag deposit on the Company’s 100% owned Akie property. The Akie property is located approximately 260 kilometers north-northwest of the town of Mackenzie, in northeastern British Columbia, Canada, and is road accessible.
The Company previously announced on December 2nd 2015 that the Cardiac Creek geological and resource models would be updated and that planning was underway for the next step in definition drilling.
The mineral resource estimate will be prepared under the direction of Robert Sim, P.Geo with the assistance of Bruce Davis, FAusIMM. Mr. Sim is the independent Qualified Person within the meaning of NI 43-101 for the purposes of mineral resource estimates and was responsible for the 2008 maiden resource and the updated 2012 resource.
The Company expects to receive the updated resource in the coming weeks and will issue the results at that time. Upon release of the updated resource, a revised NI 43-101 compliant technical report will be filed within the mandated 45-day period, as per Standards of Disclosure for Mineral Projects ("NI 43-101").
The updated resource will incorporate drilling conducted since 2012 that includes 20 drill holes into the deposit totalling 10,021 metres. There are now a total of 139 drill holes on the Akie property with a total core length of 59,260 metres. The additional drilling has led to an improved understanding of the geology and geometry of the deposit.
Peeyush Varshney, President and CEO states “The recent drilling programs over the last 3 years have been very productive in demonstrating continuity and providing detailed delineation of the Cardiac Creek deposit. We anticipate that the latest update will increase confidence in the resource and reaffirm our belief that the Cardiac Creek deposit holds significant promise for continued expansion at depth. The Cardiac Creek deposit is one of the largest zinc development projects in the world and we are committed to advancing the orderly development of the project through to final feasibility.”
The current stated resource is outlined in the report entitled NI 43-101 Technical Report, Akie Zinc-Lead-Silver Project, British Columbia, Canada dated April 27, 2012 (with an effective date March 14, 2012 - available on www.sedar.com).
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