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Mining Explorers 2009: Canadian Zinc Corp.

 

Last updated 11/1/2009 at Noon



CZN: TSX; CZICF: OTC

Chairman and President: John F. Kearney

Vice President Exploration: Alan Taylor

Canadian Zinc Corp. is an exploration and development company focused primarily on rapidly bringing the Prairie Creek zinc, lead and silver project located in the Mackenzie Mountains of Northwest Territories into possible production.

An NI 43-101-compliant report in 2007 estimated the Prairie Creek property hosting total measured and indicated resources exceeding 5.8 million metric tons grading 10.71 percent zinc, 9.90 percent lead, 0.326 percent copper, and 161.12 grams per metric ton silver capable of supporting 14-plus years of mine life.

The report also confirms a large inferred resource exceeding 5.5 Mt grading 13.53 percent zinc, 11.43 percent lead, 0.514 percent copper and 215 g/t silver along with additional exploration potential.

A planned initial production rate of 600 metric tons per day that increases to 1,200 tpd and the future inclusion of inferred resources would extend Prairie Creek's mine life to at least 20 years.

Already in the advanced stages of development, the property has exposed mineralized vein structures and overly thicker Stratabound mineralization known to occur over 16 kilometers, or 12 miles, through the property.

Canadian Zinc's primary focus for 2009 is to pursue operating permits and a limited work program for Prairie Creek, while continuing to carry out projects and studies that will assist the environmental assessment process and help in determining and refining future anticipated mine plans.

The mine site was reopened for 2009 in mid-May with the main focus on continuing to rehabilitate a winter road that connects Prairie Creek Mine to the Liard Highway.

The project also cleared an important hurdle recently when Parks Canada excluded the property and a large surrounding area of about 300 square kilometers, or roughly 74,132 acres, from the newly expanded Nahanni National Park Reserve of Canada.

Cash and short-term deposits:

C$6.944 million (at June 30, 2009)

Working capital: C$13.374 million

Market capitalization: US$30.9 million

650 West Georgia St., Suite 1710

PO Box 11644, Vancouver, B.C. V6B 4N9

Tel: 416.362.6686 • Fax: 416.368.5344

http://www.canadianzinc.com

 

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