Monday, May 03, 2010

Canada Zinc Metals: 2010 AKIE PROPERTY EXPLORATION PROGRAM CZX.v, LUN.to, FCX, RTP, BHP, HBM.to, NG.to




Canada Zinc Metals CZX.v stays as a wild card in the game with Chinese Tongling owning 13%. With recent activity in share price of CZX.v, we will not be surprised that Canaccord is right and company will be taken out at one stage. In this case Chinese Tongling as a shareholders in TNR Gold will add spice to the game around this huge Copper and gold mine in Argentina."







Will be interesting to see whether Tongling will exercise its warrants at 0.6CAD this month, drilling program will continue to define resources at this deposit with open blue sky potential of further discoveries in this prospective region and everybody is waiting for the next move by Chinese company.








"June 1, 2009
Vancouver, British Columbia, Canada – Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) (“Canada Zinc Metals” or the “Company”) is pleased to announce that, further to its news releases dated January 26, 2009 and March 23, 2009, it has received final approvals from the TSX Venture Exchange and the relevant Chinese authorities with respect to the closing of the non-brokered private placement subscribed to by Tongling Nonferrous Metals Group Holdings Co. Ltd. (“Tongling”).
Pursuant to the private placement, Tongling has purchased 11,500,000 units of the Company at a price of $0.425 per unit for gross proceeds of $4,887,500 and now holds a 13% equity position in Canada Zinc Metals. Each unit consists of one common share and one half of a common share purchase warrant. Each whole warrant entitles Tongling to purchase, at any time within 24 months from closing, one common share of the Company at a price of $0.60 during the first year and at a price of $0.80 during the second year. These units are subject to a hold period expiring on September 27, 2009.
“We welcome Tongling as a strategic shareholder of Canada Zinc Metals,” stated Mr. Peeyush Varshney, CEO of Canada Zinc Metals. “Our Company continues to attract the interest of the world’s premier base metal mining companies. The Cardiac Creek deposit is one of the most significant discoveries in Canada in the past several years."




2010 Akie Property Exploration Program
Vancouver, B.C. – May 03, 2010 – Canada Zinc Metals Corp. (TSX Venture: CZX) (the “Company”) is pleased to announce that planning is progressing well for the 2010 exploration program on its flagship, 100% owned Akie zinc-lead property, located in northeastern British Columbia, some 260 km north-northwest of the community of Mackenzie.
Rodren Drilling Ltd., of West St. Paul, Manitoba, has been selected as the contractor for the 2010 drill program on the Akie property. Rodren will provide two helicopter portable, modified BBS-56 drill rigs and all of the ancillary equipment necessary to complete a total of up to 5,000 metres of NQ/HQ size core drilling in two areas. During the past three drill seasons on the property, Rodren has acquired considerable knowledge and experience (17.3 km drilling / 36 holes) and has demonstrated a high level of technical and operational competency. Mobilization of equipment to the property is expected to take place in the first part of June.
The objectives of this program on the Akie property are twofold:
To test the permissive Gunsteel Formation – Road River Group stratigraphy present along strike to the northwest of the Cardiac Creek deposit for the continuation of this mineralization and;
To further explore the highly prospective North Lead Anomaly, located some 2.2 km to the northwest of the Cardiac Creek deposit, which is underlain by similar geology. Previous drilling has encountered massive sulphides containing sphalerite and galena (0.8 metres grading 11.60% Zn and 9.05% Pb), sulphide replacement (pyrite, sphalerite, galena) of an underlying footwall debris flow and quartz-carbonate alteration of footwall rocks, all suggestive of proximity to a vent zone.
Further details of the 2010 exploration program and objectives will be provided in due course.
About the Akie and Kechika Regional Properties
The Akie zinc-lead property is situated within the southern-most part (Kechika Trough) of the regionally extensive Paleozoic Selwyn Basin, 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 Inmet Mining Corporation during the period 1994 to 1996 and by Canada Zinc Metals since 2005 has identified a significant body of baritic zinc-lead SEDEX mineralization (Cardiac Creek deposit). The deposit is hosted by variably siliceous, fine grained clastic rocks of the Middle to Late Devonian ‘Gunsteel’ formation. The Company has outlined a NI 43-101 compliant inferred resource of 23.6 million tonnes grading 7.6% zinc, 1.5% lead and 13.0 g/t silver (at a 5% zinc cut off grade).
Two similar deposits, Cirque and Cirque South Cirque, located some 20 km northwest of Akie and owned under a joint venture by Teck Resources and Korea Zinc, are also hosted by Gunsteel rocks and have a combined geologic inventory in excess of 50 million tonnes (not 43-101 compliant) grading approximately 10% combined zinc + lead.
In addition to the Akie property, Canada Zinc Metals Corp. controls a large contiguous group of claims which comprise the Kechika Regional project. These claims are underlain by geology identical to that on the Akie property (Cardiac Creek deposit) and Cirque. This project includes the 100% owned Mt. Alcock property, which has yielded a historic drill intercept of 8.8 metres grading 9.3% zinc+lead, numerous zinc-lead-barite occurrences, and several regional base metal anomalies.
All of the company’s claims (77,889 Ha), with the exception of a small isolated block (2,293 Ha), are in good standing, under the provisions of the Mineral Tenure Act of British Columbia, until December 8, 2018.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORSCANADA ZINC METALS CORP.
PEEYUSH VARSHNEYPEEYUSH VARSHNEY, LL.BCEO & CHAIRMAN
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