Welcome!

News Feed Item

Canadian Zinc Reports Results of 2012 Exploration Program

- Richest silver intercept of 2,059 g/t Ag over 1.3 metres

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/22/12 -- Canadian Zinc Corporation (TSX:CZN)(OTCQB:CZICF) ("the Company" or "Canadian Zinc") is pleased to report results from the 2012 Exploration Program at the Company's 100% owned Prairie Creek Minesite property in the Northwest Territories.

The results include assays from drillhole PC-12-216 which returned a grade of 2,059 g/t silver (or 60 oz./ton silver) over 1.3 metres and is the highest grade silver intercept ever reported from the property. In addition, a significant coincident electromagnetic ("EM") and gravity geophysical anomaly was delineated proximal to the Prairie Creek Minesite property.

Diamond Drill Exploration Program

The 2012 diamond drilling program at Prairie Creek completed 5,629 m of coring in 12 holes. Exploration focused on two areas: at the Minesite area, where further shallow testing and extension of the current resources was completed, and at.Casket Creek where the deep-hole program continued from the previous year.

Alan Taylor, Vice President Exploration and Chief Operating Officer commented that "The 2012 drill program close to the Prairie Creek Minesite was designed to fill in a number of open areas and also to test for extensions of the known resource and the drill results continued to confirm the grade and extent of the deposit. Drillhole PC-12-216, with an intercept of 1.3 metres grading 2059 g/t or 60 oz./ton Ag, returned the highest grades of silver ever reported from a drillhole on the Prairie Creek property",

"The delineation of a new strong coincident EM and gravity geophysical anomaly approximately one kilometre from the Minesite is particularly encouraging and testing this anomaly will be a high priority of the 2013 exploration program" added Mr. Taylor.

Minesite Area Drill Program

Infill drilling focused close to the Minesite and within the defined resource was carried out with the Company's Longyear #1 drill rig. Drilling commenced in June 2012 and was completed in September. Most of these holes were drilled at depth and along strike in the proximity of the known underground workings. Targeted areas included locations that have the potential to be upgraded from the inferred category to the indicated resource category. A total of 3,366 metres over nine holes were drilled, with seven holes completed to target in 2012, six of which intersected significant mineralization and many with multiple intercepts.

Drillhole PC-12-216 returned the highest grades of silver ever reported from a drillhole on the Prairie Creek property with an intercept of 1.3 metres grading 2059 g/t or 60 oz./ton Ag. The same hole also returned a combined grade of 51.3% lead+ zinc over a different intercept of 1.0 metres. Many other intercepts returned multi-ounce silver assays with high lead and zinc values, with Hole PC-12-214 reporting double intercepts of 44% and 23% combined lead+zinc, and Hole PC-12-215 also reporting double intercepts of 43% and 16.2% combined lead+zinc Results are now being incorporated into the mine model and assessed for future exploration planning. Significant results are as follows:


----------------------------------------------------------------------------
                                   Minerali                                 
                                     zation                                 
                             Length   style                                 
Hole ID    From (m)  To (m)  (m)(i)     (i)  Pb (%)  Zn (%) Ag (g/t)  Cu (%)
----------------------------------------------------------------------------
PC-12-217    459.50  460.50    1.00     STK    4.43   15.60       60    0.08
----------------------------------------------------------------------------
             463.60  465.60    2.00     STK    9.09   10.68      141    0.31
----------------------------------------------------------------------------
             469.90  470.90    1.00     STK    0.03    6.42        2    0.01
----------------------------------------------------------------------------
             473.10  474.10    1.00     STK    0.00   12.00        4    0.02
----------------------------------------------------------------------------
             475.95  476.95    1.00     STK    1.69    5.22       33    0.07
----------------------------------------------------------------------------
PC-12-216    418.28  419.59    1.31     STK    4.02   10.30     2059    9.37
----------------------------------------------------------------------------
             431.90  438.00    6.10     STK    2.04    6.12       19    0.03
----------------------------------------------------------------------------
             447.14  448.14    1.00     STK   31.10   20.20      184    0.56
----------------------------------------------------------------------------
PC-12-215    507.34  508.34    1.00     STK    1.35    2.88      126    0.27
----------------------------------------------------------------------------
             517.20  518.46    1.26     STK    0.86   18.48       16    0.04
----------------------------------------------------------------------------
             527.55  528.05    0.50     STK    3.83    2.08       82    0.20
----------------------------------------------------------------------------
             575.59  576.34    0.75     STK   14.02    1.40      103    0.03
----------------------------------------------------------------------------
             578.51  579.35    0.84     STK   36.90    6.30      268    0.04
----------------------------------------------------------------------------
PC-12-214    129.06  130.45    1.39       S    0.13   10.70        2    0.00
----------------------------------------------------------------------------
             152.84  153.74    0.90       S    9.07   19.50      TBD    0.45
----------------------------------------------------------------------------
             191.00  191.60    0.60       S   13.88   30.17        4    0.69
----------------------------------------------------------------------------
             305.00  306.80    1.80     MQV   18.67    4.61      TBD    0.22
----------------------------------------------------------------------------
PC-12-212    210.43  214.26    3.83     SMS    4.20   10.65       28    0.02
----------------------------------------------------------------------------
             217.77  219.94    2.17     SMS    3.10    1.43       20    0.00
----------------------------------------------------------------------------
PC-12-211    215.62  216.39    0.77     MQV    3.87    4.66       47    0.13
----------------------------------------------------------------------------
                                                                            

--  Mineralization styles are defined as mineralized quartz vein (MQV),
    stratabound massive sulphides (SMS), stockwork (STK), or sulphides (S). 

--  Drill intercepts are not true widths 

The Company's Longyear #2 drill rig was rehabilitated during 2012 and used as a training drill on one short hole.

Casket Creek Deep-Hole Program

The deep-hole diamond drill exploration program at Casket Creek, 1.6 kilometres north of the current mineral resource, utilized the Company's TM-2500 coring rig. Following encouraging results from this area in 2011, drilling at Casket Creek commenced in May 2012 to search below PC-11-187W2, which intersected 5% Pb and 11% Zn over 3.5 metres. A total of 2,182 metres over two drillholes (with wedging) was completed. Assay results for the 2012 deep drill program are as follows:


----------------------------------------------------------------------------
                                  Length                                    
Hole          From (m)   To (m)   (m)(i)   Pb (%)   Zn (%) Ag (g/t)   Cu (%)
----------------------------------------------------------------------------
PC-12-206      1763.14  1764.04     0.90     4.23     2.97     31.4    0.001
----------------------------------------------------------------------------
PC-12-206      1831.90  1832.74     0.84     0.26     0.11     31.9    0.148
----------------------------------------------------------------------------
                                                                            

--  Drill intercepts are not true widths 

The drill core confirmed stratigraphy and contained a number of significant structural zones that are weakly mineralized and likely correlate with the previous years' intercept. A third hole, PC-12-213 was halted due to drilling difficulties within a significant fault structure, believed to be the main structural target. After completing this phase of drilling at Casket Creek the drill rig was moved back to the Prairie Creek Minesite for maintenance and winter storage. Further exploration work in this area is being planned for 2013.

Geophysical Program

A geophysical program involving surface and downhole EM and surface gravity surveys was completed in the proximity of the Mine in August 2012. Geophysical surveys at Prairie Creek are somewhat impeded by mountainous terrain, variable amounts of conductive background minerals, and unknown electrical conductivity properties. The last previous geophysical survey was conducted at Prairie Creek in 1995. A short geophysical exploration program was designed in 2012 to test the applicability of modern geophysical survey techniques on the property. A ground-based approach was selected in order to maximize survey sensitivity.

The results define a strong multi-channel EM anomaly located approximately one kilometre from the Minesite, located outside but adjacent to the defined mineral resource. A coincident gravity anomaly was also identified over the same area by a loose-grid gravity survey. This multi-stacked geophysical anomaly has an estimated depth to the source between 200 and 450 metres below surface and remains untested by drilling. Further interpretation and analysis is underway to test this anomaly in 2013.

Mapping Program

The Prairie Creek property contains numerous metal showings throughout its 16 kilometre strike length, some of which have been sampled and drilled in previous years. Showings are referred to as Zones and are generally separated by approximately one kilometre spacings, including Zones 1-3 which contain the current defined resource at the Minesite, then extending 10 kilometres to the south to Zone 12. Mostly, only historical analyses are available in this area and so a new property-wide comprehensive 1:2,000 scale geological map was compiled in September 2012 along with an up-to-date trench sampling program.

The existing Prairie Creek Mining Leases were the focus of the program and were accessed by the network of existing roads in the area with additional traversing as needed. LIDAR and orthophoto surveys were flown earlier in 2012, and provided an accurate base to plot observations from a total of 225 kilometres of traverses. Previously mapped areas were incorporated and infill mapping and resampling of trenches was completed. A georeferenced photographic dataset was also acquired throughout the property.

Select results from trench sampling in some of the southern Zones are as follows:


----------------------------------------------------------------------------
Zone      Sample Type Length (m)     Pb (%)     Zn (%)   Ag (g/t)     Cu (%)
----------------------------------------------------------------------------
Zone 5           Chip       0.40       16.7       11.7        279       0.86
----------------------------------------------------------------------------
Zone 5           Grab        N/A       74.1        1.6        697       0.60
----------------------------------------------------------------------------
Zone 5           Grab        N/A       66.3        0.7       1038       1.80
----------------------------------------------------------------------------
Zone 5           Grab        N/A       42.2        8.1        489       0.63
----------------------------------------------------------------------------
Zone 5           Grab        N/A       45.5        2.6        633       0.77
----------------------------------------------------------------------------
Zone 5           Grab        N/A       41.4        0.2        440       0.08
----------------------------------------------------------------------------
Zone 5           Grab        N/A         34        1.2        491       0.68
----------------------------------------------------------------------------
Zone 6        Channel       0.69        8.6        9.4        145       0.23
----------------------------------------------------------------------------
Zone 6           Chip       2.00       20.5       11.3        274       0.35
----------------------------------------------------------------------------
Zone 6           Grab        N/A       12.2       12.9        194       0.40
----------------------------------------------------------------------------
Zone 6           Grab        N/A       12.8        4.7        188       0.24
----------------------------------------------------------------------------
Zone 7        Channel       1.10       15.5       26.5        233       0.85
----------------------------------------------------------------------------
Zone 7        Channel       1.70       15.3        7.2        223       0.19
----------------------------------------------------------------------------
Zone 7           Chip       1.90        6.9       17.7        102       0.38
----------------------------------------------------------------------------
Zone 7           Chip       2.00        7.3       13.8        208       0.54
----------------------------------------------------------------------------
Zone 7           Grab        N/A       50.4        0.4        965       0.92
----------------------------------------------------------------------------
Zone 8        Channel       1.40       10.7       17.2        214       0.19
----------------------------------------------------------------------------
Zone 8        Channel       0.88        7.8       10.7        395       0.60
----------------------------------------------------------------------------
Zone 8           Chip       2.00       20.6       29.6        321       0.45
----------------------------------------------------------------------------
Zone 8           Chip       2.85       17.1       17.4        250       0.25
----------------------------------------------------------------------------
Zone 8           Chip       1.90       16.8       11.8        342       0.39
----------------------------------------------------------------------------
Zone 10       Channel       0.66       10.5        9.1        266       0.60
----------------------------------------------------------------------------
Zone 10          Chip       4.00       21.2       14.3        279       0.40
----------------------------------------------------------------------------
Zone 10          Chip       4.00        5.5        8.4        118       0.31
----------------------------------------------------------------------------
Zone 10          Grab        N/A         21        6.6        176       0.13
----------------------------------------------------------------------------
Zone 11          Chip       0.42        7.3       23.2         80       0.26
----------------------------------------------------------------------------

The mapping database is presently being compiled from more than 1,300 field observations in a Geographic Information System and will provide a solid basis for planning future exploration of the extensive length of the Prairie Creek property.

Quality Assurance and Quality Control

The drill core samples were cut by diamond saw and securely, through chain of custody, shipped to AGAT Laboratories for initial multi-element assay by ICP-OES analysis. Further assays and analysis was completed where appropriate and standards, duplicates and blanks were inserted and included within the analysis. Alan Taylor, P. Geo., Chief Operating Officer & Vice President Exploration and a Director of Canadian Zinc Corporation, is responsible for the exploration program, and is a Qualified Person for the purposes of NI 43-101 and has approved this press release.

About Canadian Zinc

Canadian Zinc is a Toronto-listed exploration and development company. The company's main project is the 100%-owned Prairie Creek zinc, silver and lead project located in the Northwest Territories, Canada. The Prairie Creek Project contains a Mineral Reserve of 5.2 million tonnes averaging 9.4% zinc, 9.5% lead and 151 g/t silver. In addition, Prairie Creek hosts an Inferred Resource averaging 14.5% zinc, 11.5% lead, 0.57% copper and 229 g/t silver. (AMC Mining Consultants (Canada) Ltd. J M Shannon and D Nussipakynova, Qualified Persons, June 2012).

A Pre-Feasibility study completed by SNC Lavalin in June 2012 indicates a pre-tax net present value ("NPV") of $253 million using an 8% discount, with an internal rate of return ("IRR") of 40.4% and payback period of 3 years using long-term metal price projections of $1.00/lb zinc, $1.00/lb lead and $26.00/oz. silver, based on the Mineral Reserve alone.

Canadian Zinc also holds the South Tally Pond VMS exploration project in Newfoundland, where a winter drilling program is planned.

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. The Company does not currently hold a permit for the operation of the Prairie Creek Mine. 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo Silicon Valley Call for Papers is now open.
Regardless of what business you’re in, it’s increasingly a software-driven business. Consumers’ rising expectations for connected digital and physical experiences are driving what some are calling the "Customer Experience Challenge.” In his session at @DevOpsSummit at 20th Cloud Expo, Marco Morales, Director of Global Solutions at CollabNet, will discuss how organizations are increasingly adopting a discipline of Value Stream Mapping to ensure that the software they are producing is poised to ...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
When NSA's digital armory was leaked, it was only a matter of time before the code was morphed into a ransom seeking worm. This talk, designed for C-level attendees, demonstrates a Live Hack of a virtual environment to show the ease in which any average user can leverage these tools and infiltrate their network environment. This session will include an overview of the Shadbrokers NSA leak situation.
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
Interested in leveling up on your Cloud Foundry skills? Join IBM for Cloud Foundry Days on June 7 at Cloud Expo New York at the Javits Center in New York City. Cloud Foundry Days is a free half day educational conference and networking event. Come find out why Cloud Foundry is the industry's fastest-growing and most adopted cloud application platform.
In his opening keynote at 20th Cloud Expo, Michael Maximilien, Research Scientist, Architect, and Engineer at IBM, will motivate why realizing the full potential of the cloud and social data requires artificial intelligence. By mixing Cloud Foundry and the rich set of Watson services, IBM's Bluemix is the best cloud operating system for enterprises today, providing rapid development and deployment of applications that can take advantage of the rich catalog of Watson services to help drive insigh...
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
As enterprise cloud becomes the norm, businesses and government programs must address compounded regulatory compliance related to data privacy and information protection. The most recent, Controlled Unclassified Information and the EU’s GDPR have board level implications and companies still struggle with demonstrating due diligence. Developers and DevOps leaders, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by in...
The 21st International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
SYS-CON Events announced today that DivvyCloud will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. DivvyCloud software enables organizations to achieve their cloud computing goals by simplifying and automating security, compliance and cost optimization of public and private cloud infrastructure. Using DivvyCloud, customers can leverage programmatic Bots to identify and remediate common cloud problems in rea...
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
SYS-CON Events announced today that Tintri, Inc, a leading provider of enterprise cloud infrastructure, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Tintri offers an enterprise cloud platform built with public cloud-like web services and RESTful APIs. Organizations use Tintri all-flash storage with scale-out and automation as a foundation for their own clouds – to build agile development environments...