Canada Zinc Metals Announces Diamond Drilling Plans for the 2017 Exploration Program
FOR IMMEDIATE RELEASE
Contact: Investor Relations Wednesday, February 15, 2017
Phone (604) 684-2181 (No.2017-02-03)
Canada Zinc Metals Announces Diamond Drilling Plans for the
2017 Exploration Program
Vancouver, British Columbia, Canada –Wednesday, Feb ruary 15, 2017 – Canada Zinc Metals Corp.
(“Canada Zinc” or “the Company”, TSX Venture Exchan ge: CZX) is pleased to announce the 2017
exploration plans for the Akie and Kechika North projects.
The Company has outlined an extensive and aggressiv e diamond drill program of up to 7,500 metres that
will focus primarily on the Cardiac Creek deposit w ith the aim to expand the size of the deposit, impr ove
the confidence of the current resource categories a nd test other key property targets for the presence of
new occurrences of Zn-Pb-Ag mineralisation.
2017 Exploration Plan
Diamond Drilling Program
The 2017 exploration program will focus on the Card iac Creek stratiform Zn-Pb-Ag deposit located on th e
Akie property. To date, there is a total 59,260 met res in 139 drill holes on the Akie property testing the
Cardiac Creek mineralized horizon. Of these, 104 dr ill holes, totaling 46,886 metres, contribute to th e
current NI 43-101 compliant mineral resource estima te for the Cardiac Creek deposit. The remaining 35
drill holes test the zone over a total strike length of almost 7 kilometres.
The Company plans on mobilizing two drills to the A kie property to complete an extensive and aggressiv e
diamond drill program of up to 7,500 metres for 2017. Up to 5,000 metres of drilling is planned to target the
Cardiac Creek deposit with a focus on expanding the down-dip limits of the high-grade core of the depo sit
as well as other expansion targets down-dip and along strike.
Up to 2,500 metres of drill testing is planned to f ocus on infill targets across the deposit with the primary
purpose of providing additional material for subsequent metallurgical lab testing.
Additional exploration drill targets will be considered across the Akie property such as; the North Lead Zone
where previous drilling has intersected extensive intervals of bedded pyrite mineralisation highly anomalous
in zinc, alteration and a thin massive sulphide lens; the South Zinc Anomaly which is defined by a large (~2
kilometre by 500 metre) zinc in soil anomaly; and t he Sitka Showing located on the eastern edge of the
Akie property that is characterized by a thick barite vein or bed hosting disseminated coarse grained galena
and sphalerite.
In addition to the drilling, the Company is also planning a Ground gravity survey over select targets as well
as further soil sampling to expand upon open-ended anomalies located on the eastern edges of the property
associated with the Sitka Showing that were defined in the 2013 exploration program. These data, coupled
with existing airborne gravity data, airborne VTEM data, structural analysis and a recently revised regional
geological base map will be used to prioritize additional drill targets on the Akie property.
The diamond drill program is expected to start early June and continue through to end of September.
Mr. Peeyush Varshney, President and CEO, of the Com pany states, "The 2017 exploration program will
focus on our flagship Akie project and the Cardiac Creek deposit. Results from the 2015 drilling on th e
deposit represented an expansion of the high-grade zone of the deposit down-dip. We anticipate that th is
season’s targeted drilling will increase the dimens ions and level of confidence in the resource down-d ip.
The results will ultimately help plan subsequent stages of exploration on the Akie property and development
of the deposit.”
Preliminary Economic Assessment (PEA)
The Company is currently evaluating proposals from qualified 3 rd party engineering firms with the intent to
complete a PEA by Q4 of 2017. The additional metallurgical results from the 2017 drill program will be used
in the development of the PEA.
“We strongly believe the recent upturn in the price of zinc is signaling the beginning of the long-exp ected
and dramatic decline in global zinc inventories com bined with the lack of new supply. In the face of a
potential extended multi-year zinc shortage, Canada Zinc Metals is positioned as a premier zinc explor er
with a world-class zinc deposit situated in a geopo litically and financially stable jurisdiction,” com mented
Mr. Varshney.
The Kechika Regional Project
The Company is the 100% owner of eleven, large, con tiguous property blocks that comprise the Akie and
Kechika Regional projects. The Company’s flagship Akie Project is host to the Cardiac Creek deposit an d
remains the primary corporate focus. The Kechika Re gional 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 north eastern British Columbia. These projects are locate d
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.
Pie Option Agreement
The Pie, Yuen and Cirque East properties are the subject of an option agreement concluded on September
9, 2013 with Teck Resources Ltd. (“Teck” TSX: TCK.B ) and its JV partner, Korea Zinc Co., Ltd. ("Korea
Zinc" KRX:KorZinc 010130). The option agreement would see Teck and Korea Zinc spend up to $8.5 million
to acquire up to 70% interest in the Pie, Yuen and Cirque East properties.
Teck has spent over $1.3 million in exploration expenditures since 2013 (2 field seasons) on the Pie Option
Properties using an integrated approach to explorat ion to decrease risk and maximize the potential for
discovery. In accordance with the Option Agreement Teck must spend an additional $2.2 million by the end
of 2017 to exercise the “First Option” and earn Teck/Korea Zinc an undivided 51% interest in the Pie Option
Properties. Upon exercising the First Option, Teck would have an additional option (the "Second Option ")
to acquire a further 19% interest in the properties for a total of 70%, by incurring an additional $5. 0 million
in exploration expenditures on or before December 31, 2019.
Expenditures for the recently completed 2016 explor ation program on the Pie Option Properties are
anticipated to be in the order of $1.6 to $1.9 million.
Akie Property
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 ba ritic-
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 mine ral 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