Click here to close now.



Welcome!

Microsoft Cloud Authors: Pat Romanski, Elizabeth White, Liz McMillan, Mihai Corbuleac, David Bermingham

News Feed Item

Canadian Zinc Reports Results of 2012 Exploration Program

- Richest silver intercept of 2,059 g/t Ag over 1.3 metres

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/22/12 -- Canadian Zinc Corporation (TSX:CZN)(OTCQB:CZICF) ("the Company" or "Canadian Zinc") is pleased to report results from the 2012 Exploration Program at the Company's 100% owned Prairie Creek Minesite property in the Northwest Territories.

The results include assays from drillhole PC-12-216 which returned a grade of 2,059 g/t silver (or 60 oz./ton silver) over 1.3 metres and is the highest grade silver intercept ever reported from the property. In addition, a significant coincident electromagnetic ("EM") and gravity geophysical anomaly was delineated proximal to the Prairie Creek Minesite property.

Diamond Drill Exploration Program

The 2012 diamond drilling program at Prairie Creek completed 5,629 m of coring in 12 holes. Exploration focused on two areas: at the Minesite area, where further shallow testing and extension of the current resources was completed, and at.Casket Creek where the deep-hole program continued from the previous year.

Alan Taylor, Vice President Exploration and Chief Operating Officer commented that "The 2012 drill program close to the Prairie Creek Minesite was designed to fill in a number of open areas and also to test for extensions of the known resource and the drill results continued to confirm the grade and extent of the deposit. Drillhole PC-12-216, with an intercept of 1.3 metres grading 2059 g/t or 60 oz./ton Ag, returned the highest grades of silver ever reported from a drillhole on the Prairie Creek property",

"The delineation of a new strong coincident EM and gravity geophysical anomaly approximately one kilometre from the Minesite is particularly encouraging and testing this anomaly will be a high priority of the 2013 exploration program" added Mr. Taylor.

Minesite Area Drill Program

Infill drilling focused close to the Minesite and within the defined resource was carried out with the Company's Longyear #1 drill rig. Drilling commenced in June 2012 and was completed in September. Most of these holes were drilled at depth and along strike in the proximity of the known underground workings. Targeted areas included locations that have the potential to be upgraded from the inferred category to the indicated resource category. A total of 3,366 metres over nine holes were drilled, with seven holes completed to target in 2012, six of which intersected significant mineralization and many with multiple intercepts.

Drillhole PC-12-216 returned the highest grades of silver ever reported from a drillhole on the Prairie Creek property with an intercept of 1.3 metres grading 2059 g/t or 60 oz./ton Ag. The same hole also returned a combined grade of 51.3% lead+ zinc over a different intercept of 1.0 metres. Many other intercepts returned multi-ounce silver assays with high lead and zinc values, with Hole PC-12-214 reporting double intercepts of 44% and 23% combined lead+zinc, and Hole PC-12-215 also reporting double intercepts of 43% and 16.2% combined lead+zinc Results are now being incorporated into the mine model and assessed for future exploration planning. Significant results are as follows:


----------------------------------------------------------------------------
                                   Minerali                                 
                                     zation                                 
                             Length   style                                 
Hole ID    From (m)  To (m)  (m)(i)     (i)  Pb (%)  Zn (%) Ag (g/t)  Cu (%)
----------------------------------------------------------------------------
PC-12-217    459.50  460.50    1.00     STK    4.43   15.60       60    0.08
----------------------------------------------------------------------------
             463.60  465.60    2.00     STK    9.09   10.68      141    0.31
----------------------------------------------------------------------------
             469.90  470.90    1.00     STK    0.03    6.42        2    0.01
----------------------------------------------------------------------------
             473.10  474.10    1.00     STK    0.00   12.00        4    0.02
----------------------------------------------------------------------------
             475.95  476.95    1.00     STK    1.69    5.22       33    0.07
----------------------------------------------------------------------------
PC-12-216    418.28  419.59    1.31     STK    4.02   10.30     2059    9.37
----------------------------------------------------------------------------
             431.90  438.00    6.10     STK    2.04    6.12       19    0.03
----------------------------------------------------------------------------
             447.14  448.14    1.00     STK   31.10   20.20      184    0.56
----------------------------------------------------------------------------
PC-12-215    507.34  508.34    1.00     STK    1.35    2.88      126    0.27
----------------------------------------------------------------------------
             517.20  518.46    1.26     STK    0.86   18.48       16    0.04
----------------------------------------------------------------------------
             527.55  528.05    0.50     STK    3.83    2.08       82    0.20
----------------------------------------------------------------------------
             575.59  576.34    0.75     STK   14.02    1.40      103    0.03
----------------------------------------------------------------------------
             578.51  579.35    0.84     STK   36.90    6.30      268    0.04
----------------------------------------------------------------------------
PC-12-214    129.06  130.45    1.39       S    0.13   10.70        2    0.00
----------------------------------------------------------------------------
             152.84  153.74    0.90       S    9.07   19.50      TBD    0.45
----------------------------------------------------------------------------
             191.00  191.60    0.60       S   13.88   30.17        4    0.69
----------------------------------------------------------------------------
             305.00  306.80    1.80     MQV   18.67    4.61      TBD    0.22
----------------------------------------------------------------------------
PC-12-212    210.43  214.26    3.83     SMS    4.20   10.65       28    0.02
----------------------------------------------------------------------------
             217.77  219.94    2.17     SMS    3.10    1.43       20    0.00
----------------------------------------------------------------------------
PC-12-211    215.62  216.39    0.77     MQV    3.87    4.66       47    0.13
----------------------------------------------------------------------------
                                                                            

--  Mineralization styles are defined as mineralized quartz vein (MQV),
    stratabound massive sulphides (SMS), stockwork (STK), or sulphides (S). 

--  Drill intercepts are not true widths 

The Company's Longyear #2 drill rig was rehabilitated during 2012 and used as a training drill on one short hole.

Casket Creek Deep-Hole Program

The deep-hole diamond drill exploration program at Casket Creek, 1.6 kilometres north of the current mineral resource, utilized the Company's TM-2500 coring rig. Following encouraging results from this area in 2011, drilling at Casket Creek commenced in May 2012 to search below PC-11-187W2, which intersected 5% Pb and 11% Zn over 3.5 metres. A total of 2,182 metres over two drillholes (with wedging) was completed. Assay results for the 2012 deep drill program are as follows:


----------------------------------------------------------------------------
                                  Length                                    
Hole          From (m)   To (m)   (m)(i)   Pb (%)   Zn (%) Ag (g/t)   Cu (%)
----------------------------------------------------------------------------
PC-12-206      1763.14  1764.04     0.90     4.23     2.97     31.4    0.001
----------------------------------------------------------------------------
PC-12-206      1831.90  1832.74     0.84     0.26     0.11     31.9    0.148
----------------------------------------------------------------------------
                                                                            

--  Drill intercepts are not true widths 

The drill core confirmed stratigraphy and contained a number of significant structural zones that are weakly mineralized and likely correlate with the previous years' intercept. A third hole, PC-12-213 was halted due to drilling difficulties within a significant fault structure, believed to be the main structural target. After completing this phase of drilling at Casket Creek the drill rig was moved back to the Prairie Creek Minesite for maintenance and winter storage. Further exploration work in this area is being planned for 2013.

Geophysical Program

A geophysical program involving surface and downhole EM and surface gravity surveys was completed in the proximity of the Mine in August 2012. Geophysical surveys at Prairie Creek are somewhat impeded by mountainous terrain, variable amounts of conductive background minerals, and unknown electrical conductivity properties. The last previous geophysical survey was conducted at Prairie Creek in 1995. A short geophysical exploration program was designed in 2012 to test the applicability of modern geophysical survey techniques on the property. A ground-based approach was selected in order to maximize survey sensitivity.

The results define a strong multi-channel EM anomaly located approximately one kilometre from the Minesite, located outside but adjacent to the defined mineral resource. A coincident gravity anomaly was also identified over the same area by a loose-grid gravity survey. This multi-stacked geophysical anomaly has an estimated depth to the source between 200 and 450 metres below surface and remains untested by drilling. Further interpretation and analysis is underway to test this anomaly in 2013.

Mapping Program

The Prairie Creek property contains numerous metal showings throughout its 16 kilometre strike length, some of which have been sampled and drilled in previous years. Showings are referred to as Zones and are generally separated by approximately one kilometre spacings, including Zones 1-3 which contain the current defined resource at the Minesite, then extending 10 kilometres to the south to Zone 12. Mostly, only historical analyses are available in this area and so a new property-wide comprehensive 1:2,000 scale geological map was compiled in September 2012 along with an up-to-date trench sampling program.

The existing Prairie Creek Mining Leases were the focus of the program and were accessed by the network of existing roads in the area with additional traversing as needed. LIDAR and orthophoto surveys were flown earlier in 2012, and provided an accurate base to plot observations from a total of 225 kilometres of traverses. Previously mapped areas were incorporated and infill mapping and resampling of trenches was completed. A georeferenced photographic dataset was also acquired throughout the property.

Select results from trench sampling in some of the southern Zones are as follows:


----------------------------------------------------------------------------
Zone      Sample Type Length (m)     Pb (%)     Zn (%)   Ag (g/t)     Cu (%)
----------------------------------------------------------------------------
Zone 5           Chip       0.40       16.7       11.7        279       0.86
----------------------------------------------------------------------------
Zone 5           Grab        N/A       74.1        1.6        697       0.60
----------------------------------------------------------------------------
Zone 5           Grab        N/A       66.3        0.7       1038       1.80
----------------------------------------------------------------------------
Zone 5           Grab        N/A       42.2        8.1        489       0.63
----------------------------------------------------------------------------
Zone 5           Grab        N/A       45.5        2.6        633       0.77
----------------------------------------------------------------------------
Zone 5           Grab        N/A       41.4        0.2        440       0.08
----------------------------------------------------------------------------
Zone 5           Grab        N/A         34        1.2        491       0.68
----------------------------------------------------------------------------
Zone 6        Channel       0.69        8.6        9.4        145       0.23
----------------------------------------------------------------------------
Zone 6           Chip       2.00       20.5       11.3        274       0.35
----------------------------------------------------------------------------
Zone 6           Grab        N/A       12.2       12.9        194       0.40
----------------------------------------------------------------------------
Zone 6           Grab        N/A       12.8        4.7        188       0.24
----------------------------------------------------------------------------
Zone 7        Channel       1.10       15.5       26.5        233       0.85
----------------------------------------------------------------------------
Zone 7        Channel       1.70       15.3        7.2        223       0.19
----------------------------------------------------------------------------
Zone 7           Chip       1.90        6.9       17.7        102       0.38
----------------------------------------------------------------------------
Zone 7           Chip       2.00        7.3       13.8        208       0.54
----------------------------------------------------------------------------
Zone 7           Grab        N/A       50.4        0.4        965       0.92
----------------------------------------------------------------------------
Zone 8        Channel       1.40       10.7       17.2        214       0.19
----------------------------------------------------------------------------
Zone 8        Channel       0.88        7.8       10.7        395       0.60
----------------------------------------------------------------------------
Zone 8           Chip       2.00       20.6       29.6        321       0.45
----------------------------------------------------------------------------
Zone 8           Chip       2.85       17.1       17.4        250       0.25
----------------------------------------------------------------------------
Zone 8           Chip       1.90       16.8       11.8        342       0.39
----------------------------------------------------------------------------
Zone 10       Channel       0.66       10.5        9.1        266       0.60
----------------------------------------------------------------------------
Zone 10          Chip       4.00       21.2       14.3        279       0.40
----------------------------------------------------------------------------
Zone 10          Chip       4.00        5.5        8.4        118       0.31
----------------------------------------------------------------------------
Zone 10          Grab        N/A         21        6.6        176       0.13
----------------------------------------------------------------------------
Zone 11          Chip       0.42        7.3       23.2         80       0.26
----------------------------------------------------------------------------

The mapping database is presently being compiled from more than 1,300 field observations in a Geographic Information System and will provide a solid basis for planning future exploration of the extensive length of the Prairie Creek property.

Quality Assurance and Quality Control

The drill core samples were cut by diamond saw and securely, through chain of custody, shipped to AGAT Laboratories for initial multi-element assay by ICP-OES analysis. Further assays and analysis was completed where appropriate and standards, duplicates and blanks were inserted and included within the analysis. Alan Taylor, P. Geo., Chief Operating Officer & Vice President Exploration and a Director of Canadian Zinc Corporation, is responsible for the exploration program, and is a Qualified Person for the purposes of NI 43-101 and has approved this press release.

About Canadian Zinc

Canadian Zinc is a Toronto-listed exploration and development company. The company's main project is the 100%-owned Prairie Creek zinc, silver and lead project located in the Northwest Territories, Canada. The Prairie Creek Project contains a Mineral Reserve of 5.2 million tonnes averaging 9.4% zinc, 9.5% lead and 151 g/t silver. In addition, Prairie Creek hosts an Inferred Resource averaging 14.5% zinc, 11.5% lead, 0.57% copper and 229 g/t silver. (AMC Mining Consultants (Canada) Ltd. J M Shannon and D Nussipakynova, Qualified Persons, June 2012).

A Pre-Feasibility study completed by SNC Lavalin in June 2012 indicates a pre-tax net present value ("NPV") of $253 million using an 8% discount, with an internal rate of return ("IRR") of 40.4% and payback period of 3 years using long-term metal price projections of $1.00/lb zinc, $1.00/lb lead and $26.00/oz. silver, based on the Mineral Reserve alone.

Canadian Zinc also holds the South Tally Pond VMS exploration project in Newfoundland, where a winter drilling program is planned.

Cautionary Statement - Forward-Looking Information

This press release contains certain forward-looking information, including, among other things, the expected completion of acquisitions and the advancement of mineral properties. This forward looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, the completion of transactions, the issue of permits, the size and quality of mineral resources, future trends for the company, progress in development of mineral properties, future production and sales volumes, capital costs, mine production costs, demand and market outlook for metals, future metal prices and treatment and refining charges, the outcome of legal proceedings, the timing of exploration, development and mining activities, acquisition of shares in other companies and the financial results of the company. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company does not currently hold a permit for the operation of the Prairie Creek Mine. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves.

Cautionary Note to United States Investors

The United States Securities and Exchange Commission ("SEC") permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this press release, such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines prohibit U.S. registered companies from including in their filings with the SEC.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change t...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
industrial company for a multi-year contract initially valued at over $4.0 million. In addition to DataV software, Bsquare will also provide comprehensive systems integration, support and maintenance services. DataV leverages advanced data analytics, predictive reasoning, data-driven diagnostics, and automated orchestration of remediation actions in order to improve asset uptime while reducing service and warranty costs.
Vidyo, Inc., has joined the Alliance for Open Media. The Alliance for Open Media is a non-profit organization working to define and develop media technologies that address the need for an open standard for video compression and delivery over the web. As a member of the Alliance, Vidyo will collaborate with industry leaders in pursuit of an open and royalty-free AOMedia Video codec, AV1. Vidyo’s contributions to the organization will bring to bear its long history of expertise in codec technolo...