Meeting with Tongling Nonferrous Metals Group
Vancouver, British Columbia (FSCwire) - Canada Zinc Metals Corp. (TSX.V : CZX) (“Canada Zinc Metals” or the “Company”) is pleased to report that the Company’s President and CEO, Peeyush Varshney, and Vice President of Exploration, Ken MacDonald, will be meeting with senior representatives of Tongling Nonferrous Metals Group Holdings Co. Ltd. (“Tongling”) during the first week of October 2016.
Tongling, based in Tongling, Anhui, is a state-owned holding company, and one of China's largest copper smelting companies. Tongling’s principal activities are exploration, mining, ore processing, smelting & refining and products processing of copper, lead, zinc, gold, silver and other non-ferrous and rare metals.
Mr. Peeyush Varshney commented, “This meeting comes at a time when many in the industry anticipate the zinc market to continue moving into significant deficit over an extended period with further mine closures and depleting inventories. The shortage of mine supply has zinc inventories being drawn down below critical levels. We look forward to meeting the Tongling delegation next week.”
Tongling currently holds approximately a 32 per-cent equity position in Canada Zinc Metals.
The Kechika Regional Project
The Company owns 100% of eleven, large, contiguous property blocks that comprise the Akie and Kechika Regional projects. The Company’s flagship Akie Project is host to the Cardiac Creek deposit and remains the primary corporate focus. 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 the 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. The generative portfolio of Kechika Regional properties offer shareholders and interested exploration companies high potential opportunities for new discoveries in the Kechika Trough.
The Company’s flagship Akie property is situated within the Kechika Trough, the southernmost area 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 Canada Zinc Metals since 2005 has identified a significant body of baritic-zinc-lead-silver SEDEX mineralisation 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).
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”
PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/CanadaZinc09282016.pdf
Source: Canada Zinc Metals Corp. (TSX Venture:CZX)
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