Canada Zinc Metals Announces Akie Underground Exploration Permit Extension
Vancouver, British Columbia (FSCwire) - Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) is pleased to announce that the Company has received a 3-year extension to its Akie Underground Exploration Permit to December 31, 2020.
Underground Drill Permit Extension
With improving zinc prices and more robust financial markets, the Company feels the timing for advancement of the project will be favorable in 2018.
The Company was able to complete certain surface construction tasks in the period from 2011 to 2016, including construction of 2.2 km of the portal access road, clearing of a small waste dump, and clearing of the proposed portal site.
Although the Underground Program has not yet commenced, Canada Zinc Metals has diligently continued to collect both environmental baseline and monitoring data to ensure compliance with the Mines Act, the Health, Safety and Reclamation Code for Mines in British Columbia, the Mineral Exploration Permit and the Effluent Permit as issued from the Ministry of Environment. This work includes surface and groundwater quality data, turbidity monitoring, and ongoing rock characterization.
As part of the Company’s ongoing commitment to open and transparent communication and cooperation with First Nations, and subject to the 2013 tripartite Exploration and Cooperation Agreement signed with Tsay Keh Dene and Kwadacha, the Company provided a copy of the Underground Exploration Permit extension application to the respective communities for input and comment 30 days prior to application. No concerns were expressed apart from the desire of both communities to see continued communication from the Company on all exploration related matters, including the ongoing surface drill program. Both First Nations provided letters of support that demonstrate the commitment of both communities to support Canada Zinc Metals’ endeavor to advance the Akie project in a timely and environmentally sound manner.
The approval was received November 3rd 2017 from the permitting section of the BC Ministry of Energy and Mines and Petroleum Resources and will now allow the Company time to execute the planned underground drill program in the coming years without the need for a permit revision or amendment.
Stated, President and CEO Peeyush Varshney, “This extension will enable us to execute on our planned underground drill definition program. We look forward to aggressively moving the Cardiac Creek deposit forward.”
The Akie Zn-Pb-Ag Project
The 100% owned Akie property is situated within the Kechika Trough, the southernmost area of the regionally extensive Paleozoic Selwyn Basin and 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 Canada Zinc Metals since 2005 has identified a significant body of baritic-zinc-lead SEDEX mineralization known as the Cardiac Creek deposit. The deposit is hosted by siliceous, carbonaceous, fine grained clastic rocks of the Middle to Late Devonian Gunsteel Formation.
The Company has outlined a NI 43-101 compliant mineral resource at Cardiac Creek, including an indicated resource of 19.6 million tonnes grading 8.2% zinc, 1.6% lead and 13.6 g/t silver (at a 5% zinc cut-off grade) and an inferred resource of 8.1 million tonnes grading 6.8% zinc, 1.1% lead and 11.2 g/t silver (at a 5% zinc cut-off grade).
In addition to the Akie Project, the Company owns 100% of ten, large, contiguous property blocks that comprise the Kechika Regional project. The Kechika Regional Project includes the Pie, Yuen, Cirque East and Mt. Alcock properties, extending northwest from the Akie property for approximately 140 kilometres along strike of the highly prospective Gunsteel Formation shale; the main host rock for known SEDEX zinc-lead-silver deposits in the Kechika Trough of northeastern British Columbia. These projects are located approximately 260 kilometres north northwest of the town of Mackenzie, British Columbia, Canada.
Ken MacDonald P.Geo., Vice President of Exploration, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.
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
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Source: Canada Zinc Metals Corp. (TSX Venture:CZX)
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