The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
czx:TSX.V
chairman, President and CEO: Peeyush Varshney
vp, exploration: Ken MacDonald
director: John Thomas
Canada Zinc Metals Corp. is focused on exploring a band of zinc-lead-silver properties that blankets 79,870 hectares (197,359 acres) of the Kechika SEDEX belt in northeastern British Columbia.
The company has divided this land package into two projects - Akie, which hosts the Cardiac Creek deposit, and the Kechika regional properties, a series of property blocks that extend roughly 140 kilometers (85 miles) northwest of Akie.
According to a calculation completed in 2012, Cardiac Creek hosts an indicated resource estimate of 12.7 million metric tons grading 8.4 percent (2.4 billion pounds) zinc, 1.7 percent (472 million lbs) lead and 13.7 g/t (5.6 million oz) silver; and an inferred resource estimate of 16.3 million metric tons grading 7.4 percent (2.6 billion lbs) zinc, 1.3 percent (482 million lbs) lead and 11.6 g/t (6.1 million oz) silver.
The Kechika regional project encompasses 10 properties that stretch northwest from Akie.
In 2013, Teck Resources Ltd. and Korea Zinc Co. Ltd entered into an agreement to option three of these properties that stretch northwest from Akie - Pie, Cirque East and Yuen.
Under this agreement the Teck-Korea Zinc joint venture can earn up to 70 percent interest in these contiguous claim blocks by investing C$8.5 million in them by 2019, including C$1.5 million by the end of 2015.
Canada Zinc Metals is mulling the idea of spinning the Kechika regional properties into a separate publicly-traded company.
Canada Zinc Metals started its 2015 exploration by flying a 940-line-kilometer gravity gradiometry survey over Akie and two Kechika regional properties - Yuen North and Mt. Alcock.
Teck Resources Ltd. flew a similar survey over the Pie, Yuen and Cirque East properties.
Together, the surveys covered a 45-kilometer (28 miles) stretch of Canada Zinc Metal claims.
Canada Zinc says Yuan North and Mt. Alcock offer drill-ready targets.
One hole drilled at Mt. Alcock in 1989 cut 8.8 meters grading 9.3 percent zinc-lead and 1.2 oz. per ton silver.
A 5,000-meter drill program carried out in 2015 targeted the downward extension of the indicated resource at Cardiac Creek and expansion of the high-grade zinc-lead-silver central core of deposit.
The first hole of the program, A-15-121, cut 64.3 meters (true width) averaging 6.1 percent zinc, 1.3 percent lead and 14.24 g/t silver, including 28.5 meters averaging 10.2 percent zinc, 2.3 percent lead and 20.45 g/t silver.
This is one of the best intercepts to date at Cardiac Creek.
Targeting the lateral extension of the core zone, hole A-15-122 cut 39.2 meters (true width) averaging 5.8 percent zinc, 1.1 percent lead and 11.16 g/t silver, including 23.4 meters averaging 8.6 percent zinc, 1.7 percent lead and 14.64 g/t silver.
The 2015 program also included field assessment of high-priority geophysical targets; soil sampling; and continued environmental baseline studies.
Cash and short-term deposits:
C$10.3 million (March 31, 2015)
Working capital: C$9.7 million (March 31, 2015)
Market capitalization: C$29.7 million (Sept. 17, 2015)
Suite 2050 - 1055 West Georgia Street
PO Box 11121, Royal Centre, Vancouver, B.C.
Canada, V6E 3P3
Tel: 604- 684-2181 Fax: 604- 682-4768
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