Canadian Zinc Corporation: New Mineral Resource Update at Prairie Creek Mine
Press Releases
March 26, 2015
NEW MINERAL RESOURCE UPDATE AT PRAIRIE CREEK MINE
- Measured + Indicated and Inferred Resource Tonnages Increased
- Underground Exploration Drilling Program Underway
Vancouver, British Columbia, March 26, 2015 – Canadian Zinc Corporation (TSX: CZN;OTCQB: CZICF) (“the Company” or “Canadian Zinc”) reports that an update of the Mineral Resources at its Prairie Creek zinc, lead, silver mine located in the Northwest Territories has demonstrated an increase in overall Mineral Resource tonnages in the Measured and Indicated category and in the Inferred category.
New Block Model and Mine Plan Developed
The new Mineral Resource estimate is based on a newly constructed and more detailed geological wireframe and three dimensional block model, developed over the past year as part of the ongoing optimization of the Prairie Creek Mine, which defines and constrains the mineralized system for inclusion in the new mine plan. The new Mineral Resource estimate also includes results from additional drilling and underground sampling not included in previous estimates.
In addition, the Company is currently carrying out an underground diamond drill program at the Prairie Creek Mine. The objective of this program is to convert part of the Inferred Mineral Resource to the Indicated category for potential inclusion in an update of the Preliminary Feasibility Study scheduled to be completed later this year.
The new Prairie Creek Mineral Resource estimate has been completed by AMC Mining Consultants (Canada) Ltd., (“AMC”) [Gregory Z. Mosher P.Geo. and J. Morton Shannon P.Geo., Qualified Persons (“QPs”), as defined by National Instrument 43-101 (“NI 43-101”)]. AMC have undertaken a number of underground mine studies, including a geotechnical assessment to determine optimum mining methods for use in the new mining plan, and underground ventilation and backfill studies were also completed.
The new updated Mineral Resource estimate, with increases in both the Main Quartz Vein, and Stockwork, tonnages in the Indicated category, will increase the life-of-mine potential compared to the 2012 Mineral Resource estimate and is particularly important as the higher grade vein mineralization constitutes the planned early years of production. The on-going underground drilling program is expected to further increase the tonnage in the Indicated categories, which will be then included in the updated mine plan.
New Mineral Resource Highlights
Total Measured and Indicated Mineral Resource tonnages increased to 6.5 million tonnes at combined grade of approximately 20% Pb and Zn with 150 g/t Ag, details of which include:
- an 11% increase in Main Quartz Vein tonnage to 4.1 M tonnes grading 12.4% Pb, 11.2% Zn, 199 g/t Ag;
- an increase in Stockwork tonnage to 1.4 M tonnes grading 4.0% Pb, 7.1% Zn, 63 g/t Ag from the previous Stockwork estimate of 410,000 tonnes grading 3.7% Pb, 7.7% Zn, 69 g/t Ag;
- a more constrained classification of Stratabound mineralization has shifted the previously reported tonnage from the Measured category to the Indicated category and decreased the tonnage by 17% to 1.1 M tonnes grading 5.4% Pb, 10.8% Zn, 55 g/t Ag.
Total Inferred Resource tonnages increased by 13% to 7.1 M tonnes grading 9.6% Pb, 11.7% Zn, 177 g/t Ag from 6.2 M tonnes grading 11.5% Pb, 14.5% Zn, 229 g/t Ag.
The mineralization at Prairie Creek Mine occurs within three different styles namely; the Main Quartz Vein (“MQV”), which is a high grade steeply dipping fault structure that hosts the majority of mineralization; the Stockwork Zone (“STK”), which is a series of narrow high grade veins occurring at an oblique angle to the Main Quartz Vein; and the Stratabound Massive Sulphide (“SMS”), which occur as a thick pyrite-rich replacement-type deposit cut by the MQV.
The following table shows the 2015 Mineral Estimate by Mineral Resource category and mineralization style:
Read More: http://www.canadianzinc.com/images/Docs/News_Releases/CZNNR20150426.pdf
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