Canadian Zinc Corporation (TSX: CZN; OTCQB: CZICF) (“the Company” or “Canadian Zinc”) is pleased to provide results from the recently completed diamond drill program on its 100%-owned South Tally Pond copper-lead-zinc-silver-gold project in central Newfoundland.
Michael Vande Guchte, VP Canadian Zinc stated “The recently completed drill program has successfully extended the Northwest zone massive sulphide mineralization to the north and south. The mineralization remains open along strike and could add significantly to the existing tonnage at the Lemarchant deposit. Canadian Zinc believes the Lemarchant deposit is a sizeable volcanogenic massive sulphide system that remains open for significant expansion”.
Northwest Zone
Seven drillholes (LM13-82 to LM13-87, LM13-94) successfully tested the north and south extension to the Northwest zone mineralization discovered during the 2013 winter drill program. The mineralized zone, located at a vertical depth of 260 to 350 metres below surface, consists of precious metal-rich massive sulphide mineralization and mineralized barite intervals within altered felsic volcanic rocks. The footwall to the mineralized zone consists of strongly altered felsic volcanic rocks with disseminated to stringer base metal mineralization.
The new zone has now been traced over 100 metres of strike length and remains open for expansion. Drillhole LM13-91, a 200 metre step out to the north of the Northwest zone, intersected favourable felsic volcanic stratigraphy with local anomalous base metal mineralization.
Lemarchant Deposit Extensions
Three drillholes (LM13-88 to LM13-90) tested for up-dip and lateral extensions to the Lemarchant deposit. Drillhole LM13-88 intersected 2.4 metres of massive sulphide mineralization with a well developed footwall between drillholes LM10-43 and LM11-61. Drillhole LM13-89 intersected sheared felsic volcanic rocks in the target area and LM13-90 cored late mafic intrusive rocks in the target area that potentially replaced any massive sulphide mineralization.
LM11-61E tested the down-dip extension of the Lemarchant deposit mineralization within the fault displaced lower felsic block stratigraphy. The 2011 drillhole was extended from 310 to 534 metres and intersected the lower felsic block stratigraphy at 368.4 metres downhole which was weakly mineralized. Extensive mafic intrusions from 371 to 406 metres occur in the target area and may have displaced the projected massive sulphide mineralization in the lower felsic block.
LM13-92 tested the north extension to the Lemarchant deposit and intersected highly altered felsic volcanic stratigraphy with local base metal mineralization before being cut off by the Lemarchant fault.
North Target
LM13-93 tested for the lower felsic block stratigraphy in the north target area. This drillhole cored highly altered felsic volcanic stratigraphy from 361.5 metres to the end of the hole, similar to that seen in LM93-11 and associated with the Lemarchant massive sulphide stratigraphy.
West Geophysical Target
LW13-01 was an initial test of a strong Titan 24 geophysical anomaly located 1200 metres west of the Lemarchant deposit. The drilling intersected silicified, pyritic mafic volcanic rocks through the upper portion of the target area thought to be responsible for the geophysical anomaly. No significant base metal or precious metal mineralization was detected.
South Tally Pond Project
The South Tally Pond project is a significant, 100%-owned, land position covering 200 km2 of a highly prospective volcanogenic massive sulphide (“VMS”) geological belt in central Newfoundland. The Lemarchant deposit, the most advanced target on the South Tally Pond property, is situated 20 kilometres southwest of Teck Resources Limited’s Duck Pond copper-zinc mine and mill complex in the same geological belt. Canadian Zinc is focused on expanding its Lemarchant copper-lead-zinc-silver-gold massive sulphide deposit.
Previous drilling by Paragon Minerals Corporation at the Lemarchant deposit outlined a significant precious metal-rich copper-lead-zinc VMS deposit with excellent potential to develop into a viable economic resource. A National Instrument (“NI”) 43-101 mineral resource estimate was completed in January 2012 on the Lemarchant deposit and comprises an Indicated Mineral Resource of 1.24 million tonnes grading 5.38% zinc, 0.58% copper, 1.19% lead, 1.01 g/t gold and 59.17 g/t silver (15.40% ZnEQ) and an Inferred Mineral Resource of 1.34 million tonnes grading 3.70% zinc, 0.41% copper, 0.86% lead, 1.00 g/t gold and 50.41 g/t silver (11.97% ZnEQ) using a 7.5% zinc equivalent grade cut-off.(See Technical Report and Mineral Resource Estimate on the Lemarchant Deposit, South Tally Pond VMS Project, Central Newfoundland, Canada, dated March 2, 2012 filed on SEDAR under Paragon Minerals Corporation).
Canadian Zinc is incorporating the new data from the 2013 drill program into the Lemarchant geological model and planning for follow-up programs in 2014. Future drilling will continue to target the expansion of the Lemarchant deposit, the Northwest zone and surrounding target areas.
Canadian Zinc and its 100%-owned subsidiary, Paragon Minerals Corporation would like to recognize the Government of Newfoundland and Labrador for its continued support of the South Tally Pond project through a financial contribution from the Government’s Junior Exploration Assistance Program.
About Canadian Zinc
Canadian Zinc is a TSX-listed exploration and development company trading under the symbol “CZN”. The Company’s key projects are the 100%-owned Prairie Creek property, a fully permitted, advanced-staged zinc-lead-silver property with mineable reserves, located in the Northwest Territories and the 100% owned South Tally Pond project, which includes the Lemarchant deposit, along with other property interests in central Newfoundland.
