Mining Explorers 2014: Canada Zinc Metals Corp.
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Last updated 11/2/2014 at Noon
CZX: TSX-V
Chairman, President and CEO: Peeyush Varshney
Vice President Exploration: Ken MacDonald
Director: Henry Giegerich
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 about 140 kilometers (85 miles) northwest of Akie.
According to a calculation completed in 2012, Cardiac Creek hosts an indicated resource 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 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.
During 2014, Canada Zinc drilled eight holes aimed at testing the perimeter and up-dip sections of the Cardiac Creek deposit.
The first hole of the program, A-14-111, cut 9.4 meters averaging 8.9 percent zinc and 1.3 percent lead.
In August, Canada Zinc completed an airborne gravity survey on the Akie and Mt. Alcock properties.
The company said this survey will add important geophysical coverage to an airborne VTEM survey that was completed in 2012.
Coincident VTEM and gravity anomalies will be prioritized as drill targets for future exploration.
In 2013, Canada Zinc entered into an agreement to option its Pie, Yuen and Cirque East properties to Teck Resources Ltd. and Korea Zinc Co. Ltd. Under this agreement the joint venture between Teck and Korea Zinc can earn up to 70 percent interest in these three blocks of claims stretching northwest from the Akie property by investing C$8.5 million in them by 2019. With a 2014 budget that will top the C$500,000 first year minimum, the joint venture partners plan to complete targeted geological mapping, selective rock and soil sampling on high priority targets, core re-logging and sampling from historical Pie and Yuen drill core, and potentially geophysical surveys.
Cash and short-term deposits: C$13.1 million (March 31, 2014)
Working capital: C$12.9 million (March 31, 2014)
Market capitalization: C$80.39 million (Sept. 9, 2014)
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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