Meeting with Tongling Nonferrous Metals Group
October 13, 2009
Vancouver, B.C. – Canada Zinc Metals Corp. (TSX Venture:CZX) (“Canada Zinc” or the Company) is pleased to report that the Company’s President and CEO,
Peeyush Varshney, and Vice President of Exploration, John Fraser, were invited to, and are currently in, China to meet with senior representatives of Tongling Nonferrous Metals Group Holdings Co. Ltd. (“Tongling”).
In June 2009, Tongling, a state-owned holding company and one of
China's largest copper smelting companies, purchased 11.5 million units of the Company at a price of $0.425 cents per unit and now holds a 13-per-cent equity position in Canada Zinc Metals. Tongling's principal activities are exploration, mining, ore processing, smelting and refining and products processing of copper, lead, zinc, gold, silver and other non-ferrous and rare metals.
About the Akie Property
The Akie zinc-lead property is situated within the southern-most part (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 variably siliceous, fine grained clastic rocks of the Middle to Late Devonian ‘Gunsteel’ formation. The Company has filed a NI 43-101 report supporting the estimated inferred resource of 23.6 million tonnes grading 7.6% Zn, 1.5% Pb and 13.0 g/t Ag (at a 5% Zn cut off grade). The complete NI 43-101 technical report, titled “Geology, Diamond Drilling and Preliminary Resource Estimation, Akie Zinc-Lead-Silver Property, Northeast British Columbia,
Canada” and dated May 30, 2008, can be viewed on SEDAR.
Two similar deposits, Cirque and 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.
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