Canadian Zinc Corporation is a development stage company listed on the Toronto Stock Exchange under the symbol "CZN", in the United States on the OTCQB under the symbol "CZICF" and in Germany on the Frankfurt under the symbol "SRS" and is engaged in the business of exploration and development of natural resource properties. The Company has an experienced Executive and Board and is headquartered in Vancouver, BC.
Prairie Creek Mine, Northwest Territories
Canadian Zinc aims to bring its 100%-owned Prairie Creek Mine into production at the earliest possible date once financing can be arranged. The mine, situated in the Mackenzie Mountains of the Northwest Territories, has a fascinating history which includes the famous Hunt Brothers' plan to corner the world silver market in the early 1980's. The mine hosts substantial resources of high-grade silver, zinc, and lead coupled with the established infrastructure development.
Canadian Zinc completed a Preliminary Feasibility Study in 2012 and in 2016. The Prairie Creek economic parameters are now based on a Proven and Probable Mineral Reserve of 7.6 million tonnes averaging 8.93% Zn, 8.33% Pb and 127.58 g/t Ag located in proximity to three underground levels. The Mineral Resources, which are less well-defined than reserves, were estimated to be 8.7 million tonnes of Measured and Indicated Mineral Resources with an average grade 9.5% Zn, 8.9% Pb and 136 g/t Ag (which were subsequently converted into the Reserves) as well as 7.0 million tonnes of Inferred Mineral Resources with an average grade of 11.3% Zn, 7.7% Pb and 166 g/t Ag (which remain open-ended for future definition drilling).
These revised numbers represent a 32% increase in the Measured and Indicated Resource tonnage and a 46% increase in the Proven and Probable Reserve tonnage compared to the resource and reserve tonnages in the 2012 Preliminary Feasibility Study.
Prairie Creek has received a positive decision on the Environmental Assessment completed by the Mackenzie Valley Environmental Impact Review Board in December 2011 and in June 2013, the Mackenzie Valley Land and Water Board completed its regulatory process for the issue to Canadian Zinc of a Type "A" Water Licence. This Licence and the Reasons for Decision, which describe the rationale behind the conditions finalized in the Water Licence, was forwarded to the Federal Minister of Aboriginal Affairs and Northern Development Canada with the recommendation that the Minister approve and sign the Licence.
This Licence was signed on September 8, 2013 and, in tandem with receiving the necessary permits from Parks Canada for road access through the Nahanni National Park Reserve, Canadian Zinc now holds all the necessary significant documents for the construction, development and operation of the Prairie Creek Mine.
In April 2014, the Company submitted an application to the Mackenzie Valley Land and Water Board and to Parks Canada for Land Use Permits to permit an all season road into the Prairie Creek Mine. The application has since been undergoing environmental assessment before the Mackenzie Valley Review Board. The all season road will increase the total capex compared with the 2012 Preliminary Feasibility Study; however, it will reduce the mine concentrate inventory tied up at the mine, reduce the risk of delivering concentrates to the market and delivering supplies and equipment into the mine, and enable the consideration of alternative, more environmentally friendly, energy sources.
The permittiing process for the all season road is nearing completion with the final public hearings scheduled for the last week of April 2017.
Canadian Zinc has initiated a Feasibility Study for the Prairie Creek Project, which is expected to be completed in mid-2017. in addition, CZN has also engaged HCF International Advisers to negotiate terms for debt financing for the Prairie Creek Project.
Central Newfoundland Mineral Properties
Canadian Zinc acquired two companies with extensive land packages in central Newfoundland considered highly prospective for copper-lead-zinc-silver-gold Volcanogenic Massive Sulphide Deposits. Canadian Zinc now controls in excess of 500 square kilometres of prospective ground that includes three polymetallic deposits with NI 43-101 compliant resources as well as numerous early stage exploration targets.
The South Tally Pond project is located in a proven base metal mining district, approximately 40 kilometres south of the past-producing Buchans Mine with historic production of 16.2 million tonnes grading 16.2% zinc, 7.6% lead, 1.37 g/t gold and 126 g/t silver; and immediately adjacent to Teck Resources Limited's Duck Pond Mine and mill complex which continues to operate at a rate of 1,800 tonnes per day producing copper and zinc concentrates, but appears to have a limited mine life of approximately one year. The South Tally Pond project includes the Lemarchant deposit and the Northwest target which are similar in geology to that of Duck Pond. Additional resources are drill-defined within the Tulks South project and include the Boomerang and Domino deposits and the Hurricane target while the Long Lake project hosts the Main Zone deposit, all within 50 kilometres of South Tally Pond.
Canadian Zinc, in collaboration with Buchans Minerals Corporation, (BMC) have agreed to jointly undertake a research program aimed at investigating the technical and economic viability of developing their respective central Newfoundland Zn-Pb-Cu-Ag-Au deposits through a central milling facility. The concept is based on the potential that collectively, the satellite deposits can be economically mined, pre-concentrated, trucked and then milled, simultaneously or sequentially, through a central mill.
The Company was awarded funding by the Research & Development Corporation of Newfoundland and Labrador (RDC) through the GeoEXPLORE Industry-led program to undertake a research program to complete physical and metallurgical bench scale studies on four key NI43-101 compliant Zn-Pb-Cu-Ag-Au VMS deposits. Two of the deposits are held by Canadian Zinc (Lemarchant and Boomerang-Domino) and two are held by BMC (Bobbys Pond and Daniels Pond). In June 2016, the research program was extended to include the Lundberg Cu-Pb-Zn-Ag deposit (100% held by BMC).
The metallurgical research study demonstrated that the ore from the Company’s Lemarchant and Boomerang-Domino deposits can be successfully processed in a central mill using a sequential flotation flowsheet, and that selective zinc, lead and copper concentrates at marketable grades can be produced from these deposits.
The positive results of the research project provide valuable direction to guide future exploration on the Company’s central Newfoundland deposits and the conceptual economic modeling provided key information on which to focus future economic studies and development plans for advancing the development of these deposits through a centralized milling facility. It was recommended that further review of the satellite deposits should be undertaken to examine the potential to increase minable resource size, run of mine ore grades and mine production rates, and to evaluate alternative cost effective mining methods.
In February 2017, the Company initiated a winter drill program on the South Tally Pond property at Lemarchant. The 2017 winter drill program is designed to test for mineralized extensions to the Lemarchant massive sulphide deposit immediately along the strike and up-dip of the currently defined Lemarchant resource. Included in the planned drill program is initial drill testing of a newly defined EM target at the Spencers Pond prospect, located along strike, approximately 2 kilometres southwest of the Lemarchant deposit.
Our Mission Statement
To bring value to our shareholders through the development of advanced precious and base metals projects.