CANADA ZINC METALS CORP.
FOR IMMEDIATE RELEASE
info@canadazincmetals.com
SULPHIDE VENT COMPLEX/FEEDER ZONE IDENTIFIED AT THE
NORTH LEAD ANOMALY,
�AKIE ZINC-LEAD
PROPERTY
Vancouver, B.C. �VTuesday, November 18, 2008
�V Canada Zinc Metals Corp. (TSX Venture: CZX, Frankfurt: A0F7E1) (��Canada Zinc��or the ��Company��) is pleased
to report on the recently completed exploration activities carried out at the
��North Lead Anomaly��, a high priority target on its 100% owned Akie property located in northeastern
British Columbia, approximately 260 kilometres north-northwest of the town of
Mackenzie.
North Lead Anomaly.
The ��North
Lead Anomaly�� is a large (200m x 1000m), open-ended, lead-in-soil (70 to 624 ppm lead) anomaly located approximately 2.3 kilometers north of the nearest Cardiac Creek deposit drill
hole to intersect significant mineralization (A-07-46: 2.12 metres grading
8.58% zinc and 1.86% lead). In 1996, the area was tested with one drill hole by
Inmet Mining Corporation, encountering Gunsteel formation containing 45 meters of pyrite-bearing
(5% to 12%), siliceous shale, followed by a 0.8 metere
wide interval of massive sulphide mineralization consisting of pyrite, sphalerite and galena. Veins and stringers of similar
material were noted in the footwall Road
River silty
carbonates. The massive sulphide horizon yielded grades of 11.60% zinc and
9.05% lead. The stratigraphic position of this
mineralization appears to be identical to that of the Cardiac Creek deposit.
In August,
2008, the Company completed two holes (A-08-62 and 63) to test the down-dip and
up-dip extension, approximately 70 metres in each direction, of the massive
sulphide mineralization observed in the Inmet hole.
These holes were successful in encountering sulphide mineralization that
suggests proximity to more massive sulphides.�
Definitive observations include:
- The mineralization present in the Inmet hole is closely associated with an
underlying debris flow in which the carbonate fragments and matrix are
replaced by pyrite, +/- sphalerite, +/- galena.
A similar situation is observed in both of the
2008 holes, where zinc and lead values, which increase updip,
are locally as high as 9.82% and 0.17%, respectively. Of particular
interest is the presence of finely banded, pinkish sphalerite
in the matrix of the second (updip) 2008 hole.
These characteristics are also noted in several holes located at the
northern end of the Cardiac Creek deposit. Such debris flows may reflect
the presence of an underlying synsedimentary
fault zone, a feature that is interpreted as a conduit for metal-bearing
hydrothermal fluids.
- Bedded pyrite, identical to that present in the
hanging wall to the Cardiac Creek deposit and the 1996 Inmet
hole, occurs in both of 2008 drill holes. These beds are highly anomalous
in zinc, with values ranging from 0.1% to 0.65%, with grade generally
increasing updip.
- Drill hole A-08-63 (the updip hole) encountered alteration, consisting of silicification and associated pyrite, that extends
some 30 metres into the Road
River footwall rocks
before dissipating into localized patches. Locally, within this
alteration, the rock is brecciated by sphalerite rich sulphide stringers that have returned
zinc values of up to 8.48%. Alteration of this type is also noted in the
higher grade parts of the Cardiac Creek deposit, particularly in the northwestern portion.
Features of
the type noted above are commonly associated with vent complexes and underlying
feeder zones of proximal facies sedimentary
exhalative (SEDEX) zinc-lead deposits worldwide and suggest that a similar
environment may exist in the northern portion of the Akie
property. This premise is supported by the fact that lead/lead+zinc
ratios in soil samples collected on the property exhibit higher values in this
area. The importance of recognizing the vent zone in this type of deposit is
that the zinc+lead grade is
commonly highest at the transition between it and the laterally extensive
bedded (or distal) ore facies.
��Our
drilling of the North Lead Anomaly target this year has been extremely
encouraging as the results verify that the area is a likely source of
additional hydrothermal fluid flow. We have always believed that additional
discoveries on trend from the Cardiac Creek deposit exist and these very
positive results, over 2 kilometres distant from the Cardiac Creek deposit,
confirm the significant potential. This area of the Akie
property remains a high priority exploration target,��
stated Jim Mustard, President of
Canada Zinc Metals.
Qualified Person
John
R. Fraser, P.Geo. (B.C.), Vice President of
Exploration and a Director of Mantle Resources, is the Qualified Person for the
Company, as defined by NI 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