Canadian Zinc Announces Diamond Drill Program for Tulks South and Long Lake Projects, Central Newfoundland
18 Junio 2014 - 5:00AM
Marketwired
Canadian Zinc Announces Diamond Drill Program for Tulks South and
Long Lake Projects, Central Newfoundland
Targeting Expansions of Boomerang-Domino and Long Lake
Deposits
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 18, 2014) -
Canadian Zinc Corporation (TSX:CZN)(OTCQB:CZICF) ("the Company" or
"Canadian Zinc") is pleased to announce an 8,000 metre diamond
drill program on its wholly owned Tulks South and Long Lake
copper-lead-zinc-silver-gold volcanogenic massive sulphide ("VMS")
projects in central Newfoundland. The drilling is scheduled to
begin in early July and be completed by late September by utilizing
two diamond drill rigs. The 2014 diamond drill program is aimed
at:
- Expanding mineral resources at the Boomerang-Domino Deposit
along strike and to depth, specifically targeting the nearby
Hurricane Prospect mineralization with previous drill intercepts of
13.0% zinc, 8.3% lead, 1.5% copper, 201.0 g/t silver and 0.9 g/t
gold over 15.3 metres (GA07-214, estimated true thickness is 70% of
core length reported).
- Testing for fault-displaced extensions to the Boomerang-Domino
mineralization in areas with coincident geophysical and geochemical
signatures. Limited historical drilling in these areas intersected
favourable stratigraphy similar to that observed at the
Boomerang-Domino Deposit.
- Extending the mineral resource at the Long Lake Deposit which
is located in a separate geological package 20 km north-northeast
of the Boomerang-Domino Deposit.
Tulks South (Boomerang-Domino Deposit)
The Tulks South project hosts the Boomerang-Domino Deposit, a NI
43-101 compliant indicated mineral resource of 1.36 million tonnes
grading 7.1% zinc, 3.0% lead, 0.5% copper, 110 g/t silver and 1.7
g/t gold plus an additional inferred mineral resource of 0.69
million tonnes grading 6.5% zinc, 2.8% lead, 0.4% copper, 95 g/t
silver, and 1.0 g/t gold (Snowden, 2007). The Boomerang-Domino
Deposit remains open for expansion along strike and to depth.
Long Lake (Long Lake Deposit)
The Long Lake project hosts the Long Lake Deposit, a NI 43-101
compliant indicated mineral resource of 0.48 million tonnes grading
7.8% zinc, 1.6% lead, 0.97% copper, 49 g/t silver and 0.57 g/t gold
and inferred mineral resource of 78,000 tonnes grading 5.7% zinc,
1.2% lead, 0.7% copper, 34 g/t silver, and 0.48 g/t gold (SRK,
2012). The Long Lake Deposit remains open for expansion along
strike and to depth.
"We are excited to begin drilling at the Boomerang-Domino
and Long Lake massive sulphide deposits with an aggressive drill
program for 2014," said Michael Vande Guchte, Vice President
of Canadian Zinc. "We believe given the geology and the style
of mineralization in this proven mining district that there is
excellent potential for additional massive sulphide mineralization
to be discovered. With this summer-fall program, our goal is to
expand the copper-lead-zinc-silver gold mineral resources at both
deposits and begin drill testing other high priority VMS prospects
on the properties."
The Company is also completing geological ground follow-up on
numerous priority targets areas throughout its extensive land
holdings in central Newfoundland. Ground geophysical surveys
(gravity and magnetic) are planned over a number of selected target
areas to aid with geological mapping and with new drill
targeting.
In addition to expansion drilling of these NI 43-101 compliant
deposits, there are numerous untested VMS targets on these projects
that total 266 km2 in central Newfoundland. Further details on
these and all other Canadian Zinc projects can be found on the
Company's website.
About Canadian Zinc
Canadian Zinc is a TSX-listed exploration and development
company trading under the symbol "CZN". The Company's key project
is the 100%-owned Prairie Creek Project, a fully permitted,
advanced-staged zinc-lead-silver property, located in the Northwest
Territories.
Canadian Zinc also owns an extensive land package in central
Newfoundland that it is exploring for Cu-Pb-Zn-Ag-Au deposits. Key
projects include the South Tally Pond project (Lemarchant deposit),
the Tulks South project (Boomerang-Domino deposit) and Long Lake
project (Long Lake deposit). The Company's strategy is to continue
build the zinc-copper-lead-silver-gold resources base with the aim
of developing the deposits through a central milling facility.
Qualified
Person
Alan Taylor, P.Geo., Vice President of Exploration, Chief
Operating Officer and Director of the Company, who is a
Non-Independent Qualified Person as defined in National Instrument
43-101 - Standards of Disclosure for Mineral Projects, has
prepared, supervised the preparation of, or reviewed, parts of this
press release that are of a scientific or technical
nature.
Cautionary
Statement - Forward-Looking Information
This press release contains certain forward-looking
information, including, among other things, the expected completion
of acquisitions and the advancement of mineral properties. This
forward looking information includes, or may be based upon,
estimates, forecasts, and statements as to management's
expectations with respect to, among other things, the completion of
transactions, the issue of permits, the size and quality of mineral
resources, future trends for the company, progress in development
of mineral properties, future production and sales volumes, capital
costs, mine production costs, demand and market outlook for metals,
future metal prices and treatment and refining charges, the outcome
of legal proceedings, the timing of exploration, development and
mining activities, acquisition of shares in other companies and the
financial results of the company. There can be no assurances that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. Mineral resources that are not mineral reserves do
not have demonstrated economic viability. Inferred mineral
resources are considered too speculative geologically to have
economic considerations applied to them that would enable them to
be categorized as mineral reserves. There is no certainty that
mineral resources will be converted into mineral reserves.
Cautionary Note to
United States Investors
The United States Securities and Exchange Commission ("SEC")
permits U.S. mining companies, in their filings with the SEC, to
disclose only those mineral deposits that a company can
economically and legally extract or produce. We use certain terms
in this press release, such as "measured," "indicated," and
"inferred" "resources," which the SEC guidelines prohibit U.S.
registered companies from including in their filings with the
SEC.
Canadian Zinc CorporationJohn F. KearneyChairman(416)
362-6686(416) 368-5344Canadian Zinc CorporationAlan B. TaylorVice
President Exploration & Chief Operating Officer(604)
688-2001(604) 688-2043Tollfree: 1-866-688-2001Canadian Zinc
CorporationSteve DawsonVice President Corporate Development(416)
203-1418(416)
368-5344invest@canadianzinc.comwww.canadianzinc.com
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