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Canadian Zinc Acquires Paragon Minerals Corporation
http://tmx.quotemedia.com/article.php?newsid=54514074&qm_symbol=CZN
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2012) -
Canadian Zinc Corporation
(TSX:CZN)(OTCQB:CZICF) (the "Company" or "Canadian Zinc") and Paragon Minerals Corporation (TSX VENTURE:PGR) ("Paragon") are pleased to announce that they have successfully completed the plan of arrangement (the "Arrangement") announced on July 31, 2012 whereby Canadian Zinc has acquired all of the issued and outstanding common shares in the capital of Paragon that it did not already own. The Arrangement was approved by Paragon shareholders on September 17, 2012 and approved by the Supreme Court of British Columbia on September 20, 2012.
Pursuant to the terms of the Arrangement, shareholders of Paragon (other than Canadian Zinc) will receive 0.136 common shares in the capital of Canadian Zinc for each Paragon share held. Details of the Arrangement are in the Paragon Management Information Circular dated August 17, 2012, which can be found on SEDAR at www.sedar.com.
John Kearney, Chairman and Chief Executive Officer of Canadian Zinc, commented, "We would like to welcome our new shareholders from Paragon and thank them for their strong support of this transaction. The combined company is well positioned to expand the current VMS resource and advance the South Tally Pond Project through further exploration and feasibility studies, and together our shareholders will benefit from building an emerging zinc producing company an enhanced capital markets profile of the combined company."
With the completion of the Arrangement, the Paragon shares are expected to cease trading on the TSX Venture Exchange on or about the close of business on September 24, 2012.
Exchange of Paragon Shares
As a result of the acquisition, Canadian Zinc will issue 7,296,298 shares of Canadian Zinc for 53,649,254 common shares of Paragon currently outstanding. All currently outstanding share purchase warrants and options of Paragon will be exercisable to acquire common shares of Canadian Zinc at the same exchange ratio. Canadian Zinc and Paragon shareholders will own approximately 95.5% and 4.5% of the combined company, respectively.
For Paragon shareholders who hold their Paragon shares through a broker, the exchange of Paragon shares for Canadian Zinc shares will be processed through their broker. For shareholders who hold their Paragon shares in registered form, the shares will be processed after they deposit their share certificates, along with a duly completed Letter of Transmittal, with Computershare Trust Company of Canada ("Computershare"), the depositary for the transaction, in accordance with the instructions in the Letter of Transmittal.
Any questions regarding exchange of shares, including any request for another form of Letter of Transmittal, should be directed to your broker if applicable or to Computershare via telephone at 1-800-564-6253 or via email at corporateactions@computershare.com.
South Tally Pond Property
Paragon's flagship project is its 100% interest in the South Tally Pond Property, which includes the Lemarchant deposit, and is located in a proven mining district near Buchans, Newfoundland. The South Tally Pond Property covers 261 km2 and is immediately adjacent to Teck Resources Limited's Duck Pond Cu-Zn mine and mill complex. The Lemarchant deposit is a significant precious metal-rich, copper-lead-zinc Volcanogenic Massive Sulphide ("VMS") discovery with a potential opportunity to develop into a viable economic resource. An initial NI 43-101 mineral resource estimate that was recently completed on the Lemarchant deposit includes the following defined mineral resources:
Indicated resource estimate: 1.24 million tonnes at an average grade of 5.38% Zn, 0.58% Cu, 1.19% Pb, 1.01 g/t Au and 59.17 g/t Ag; and
Inferred resource estimate: 1.34 million tonnes at an average grade of 3.70% Zn, 0.41% Cu, 0.86% Pb, 1.00 g/t Au and 50.41 g/t Ag.
(See Paragon's Technical Report and Mineral Resource Estimate on Lemarchant Deposit, South Tally Pond VMS Project, Central Newfoundland, dated March 2, 2012, filed on SEDAR.)
The Lemarchant deposit has been defined to a 210 m depth and remains open along strike and at depth. The exploration potential outside of the Lemarchant area of the South Tally Pond Property is still relatively untapped with numerous priority VMS targets that have seen limited or no drilling. Paragon is also exploring an excellent portfolio of gold properties through partner-funded and company-funded exploration programs.
The South Tally Pond Technical Report recommended pursuing a two-phased work program to further define the nature and extent of the Lemarchant deposit. The first phase includes the drilling of four target areas proximal to the Lemarchant deposit. Canadian Zinc is currently evaluating the proposed program before initiating further exploration on the project.
About Canadian Zinc Corporation
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 5.4 million tonnes of Measured and Indicated resources with an average grade 10.8% Zn, 10.2% Pb, 0.31% Cu and 160 g/t Ag as well as 6.2 million tonnes of Inferred resources with an average grade of 14.5% Zn, 11.5% Pb, 0.57% Cu and 229 g/t Ag. (AMC Mining Consultants (Canada) Ltd. J M Shannon and D Nussipakynova, Qualified Persons, June 2012).
A portion of the Mineral Resources was converted to a Mineral Reserve estimate of 5.2 million tonnes grading 9.4% zinc, 9.5% lead and 151 g/t silver. A Pre-Feasibility study completed by SNC Lavalin for Canadian Zinc 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 based on long-term metal price projections of $1.00/lb zinc, $1.00/lb lead and $26.00/oz silver.
ON BEHALF OF THE BOARD OF ON BEHALF OF THE BOARD OF
CANDIAN ZINC CORPORATION PARAGON MINERALS CORPORATION
"John F. Kearney" "Michael J. Vande Guchte"
Chairman & President President & CEO, Director
Risk and Uncertainties
The Company's business and results of operations are subject to numerous risks and uncertainties, many of which are beyond its ability to control or predict. Because of these risks and uncertainties, actual results may differ materially from those expressed or implied by forward looking statements, and investors are cautioned not to place undue reliance on such statements, which speak only as of the date hereof.
Investors are advised to review the discussion of risk factors associated with the Company's business set out in the Company's Annual Information Form for the year ended December 31, 2011, which has been filed with the Canadian Securities Regulators on SEDAR (www.sedar.com). The risks and uncertainties, as summarized in the Company's MD&A and in other Canadian and U.S. filings, are not the only risks facing the Company. Additional risks and uncertainties not currently known to the Company, or that are currently deemed to be immaterial, also may materially adversely affect the Company's business, financial condition and/or operating results.
Alan Taylor, P.Geo., Chief Operating Officer, Vice President Exploration and a Director of Canadian Zinc Corporation, is responsible for the Company's exploration program, and is a Non-Independent Qualified Person for the purposes of National Instrument 43-101 and has approved this press release.
Cautionary Statement - Forward-Looking Information
This press release contains certain forward-looking information. 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 issue of permits, the size and quality of the Company's mineral reserves and resources, future trends for the Company, progress in development of mineral properties, the timing of exploration, development and mining activities, completion of financings and the merger, capital costs, mine production costs, demand and market outlook for metals, future metal prices and treatment and refining charges, the financial results of the company and future gold production and profitability of Vatukoula Gold Mines in which the Company has a significant shareholding. 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. U.S. Investors are urged to consider closely the disclosure in our Form 40-F which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.
Back
Cdn Zinc Corp J (CZN)
0.395 ? -0.005 (-1.25%)
Volume: 79,500 @ 3:51:16 PM ET
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Cdn Zinc Corp J (CZN)
0.36 ? -0.025 (-6.49%)
Volume: 42,500 @ 11:27:37 AM ET
Bid Ask Day's Range
0.37 0.4 0.36 - 0.4
TSE:CZN Detailed Quote Wiki
Wow... fantastic... and the market responds favorably +5.26%.
Canadian Zinc Announces Merger and Private Placement With Paragon Minerals Corporation
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 31, 2012) - Canadian Zinc Corporation (TSX:CZN)(OTCQB:CZICF) (the "Company" or "Canadian Zinc") is pleased to announce that it has entered into a binding arrangement agreement (the "Agreement") to complete a business combination (the "Merger") as well as a non-brokered private placement (the "Private Placement") with Paragon Minerals Corporation ("Paragon"). The completion of the merger will create a premier base and precious metals exploration and development company with a portfolio of projects in established mining jurisdictions in Canada.
Paragon's flagship project is its 100% interest in the South Tally Pond Property, which includes the Lemarchant deposit, and is located in a proven mining district near Buchans, Newfoundland. The South Tally Pond Property covers 261 km2 and is immediately adjacent to Teck Resources Limited's Duck Pond Cu-Zn mine and mill complex. The Lemarchant deposit is a significant precious metal-rich copper-lead-zinc Volcanogenic Massive Sulphide ("VMS") discovery with a potential opportunity to develop into a viable economic resource. An initial National Instrument ("NI") 43-101 mineral resource estimate that was recently completed on the Lemarchant deposit includes the following defined mineral resources:
Indicated resource estimate: 1.24 million tonnes at an average grade of 5.38% Zn, 0.58% Cu, 1.19% Pb, 1.01 g/t Au and 59.17 g/t Ag; and
Inferred resource estimate: 1.34 million tonnes at an average grade of 3.70% Zn, 0.41% Cu, 0.86% Pb, 1.00 g/t Au and 50.41 g/t Ag.
See Paragon Technical Report and Mineral Resource Estimate on Lemarchant Deposit, South Tally Pond VMS Project, Central Newfoundland, dated March 2, 2012 filed on SEDAR.
The Lemarchant deposit has been defined to a 210 m depth and remains open along strike and at depth. The exploration potential outside of the Lemarchant area of the South Tally Pond Property is still relatively untapped with numerous priority VMS targets that have seen limited or no drilling. Paragon is also exploring an excellent portfolio of gold properties through partner-funded and company-funded exploration programs.
Pursuant to the terms of the Agreement, Canadian Zinc will acquire all of the outstanding common shares of Paragon in exchange for common shares of Canadian Zinc by way of a statutory plan of arrangement on the basis of 0.136 of a share of Canadian Zinc for each share of Paragon (the "Exchange Ratio").
Based on the closing share price of Canadian Zinc on the Toronto Stock Exchange ("TSX") on July 30, 2012, the Exchange Ratio implies an offer price of C$0.052 per Paragon common share and values Paragon's equity at C$2.8 million on a fully diluted in-the-money basis.
The consideration represents a total of C$0.061 per Paragon share, based on the volume weighted average price of Canadian Zinc shares on the TSX for the 30 trading days ended July 20, 2012 and a premium of 52% to the volume weighted average price of Paragon shares on the TSX-Venture for the same period.
Upon completion of the Merger, Canadian Zinc and Paragon shareholders will own approximately 95.5% and 4.5% of the combined company, respectively.
John Kearney, Chairman and Chief Executive Officer of Canadian Zinc, commented, "This merger with Paragon is consistent with Canadian Zinc's strategy of building a growth focused base metal producer in North America and represents an excellent value opportunity for shareholders of both companies.
"We believe that the addition of Paragon's advanced exploration assets, such as the South Tally Pond VMS project in central Newfoundland, is a major step towards achieving our strategy of creating a strong intermediate base metal company with an attractive growth profile focused on enhancing shareholder value."
Transaction Highlights
Creation of a new, premier base and precious metals exploration and development company with high grade projects located in established mining jurisdictions in Canada.
Allows Paragon shareholders to participate in the upside from the advancement of the Prairie Creek Project, one of the highest grade zinc projects in the world, through permitting, construction and production as well as the continued exploration and development of the South Tally Pond Project.
The combined company will be better positioned to expand the current VMS resource and advance the South Tally Pond Project through feasibility studies.
Provides Canadian Zinc entry into a well established mining district with significant potential for resource growth.
Increased diversification across projects for Canadian Zinc and Paragon shareholders.
Enhanced capital markets profile of the combined company.
Terms of the Business Combination between Canadian Zinc and Paragon
Canadian Zinc will acquire all of the outstanding common shares of Paragon at an exchange ratio of 0.136 of a share of Canadian Zinc for each share of Paragon.
Pursuant to the Agreement, Canadian Zinc will issue 7,296,298 shares of Canadian Zinc for 53,649,254 common shares of Paragon currently outstanding.
The acquisition of the common shares of Paragon by Canadian Zinc will be accomplished by a statutory plan of arrangement, whereby Paragon will merge with a wholly owned subsidiary of Canadian Zinc.
Upon completion of the Merger, all currently outstanding share purchase warrants and options of Paragon will be exercisable to acquire common shares of Canadian Zinc at the same Exchange Ratio.
Completion of the Merger will be subject to, among other things, the favourable vote of 66 2/3% of the votes cast by Paragon shareholders and by a simple majority of the votes cast by "disinterested" Paragon shareholders pursuant to Multilateral Instrument 61-101 "Protection of Minority Shareholders in Special Transactions" at a special meeting called to approve the transaction which is expected to take place in September 2012.
Completion of the Merger will be subject to receipt of necessary consents, approvals and other authorizations by applicable regulatory authorities and third parties approvals.
In the event that the Merger is not approved by Paragon shareholders, or if for any other reason (other than through the failure of Canadian Zinc to satisfy any conditions or perform any covenants provided for in the Agreement) the Merger is not completed, Canadian Zinc will be entitled to the immediate payment by Paragon of a "break fee" of C$150,000.
The Agreement has been approved by the Board of Directors of Paragon. All of the Directors and Officers of Paragon have entered into lock-up agreements with Canadian Zinc under which they have agreed to vote their Paragon shares in favour of the Merger, representing approximately 2.7% of the shares entitled to vote at the Paragon special meeting.
Paragon and Canadian Zinc shareholders as well as all other interested parties are advised to read the materials relating to the Agreement that will be filed by Canadian Zinc and Paragon with securities regulatory authorities in Canada when they become available. Anyone may obtain copies of these documents when available free of charge at the Canadian Securities Administrators' website at www.sedar.com.
Terms of the Private Placement Financing in Paragon
Canadian Zinc has agreed to purchase in a non-brokered private placement financing, 7,000,000 common shares of Paragon (the "Shares") at a price of C$0.07 per share for a total consideration of C$490,000. The closing of the Private Placement will be subject to acceptance by the TSX Venture Exchange and all other required regulatory approvals. The completion of the Private Placement is not conditional upon the completion of the Merger.
Canadian Zinc does not currently own, control or direct, directly or indirectly, any securities of Paragon and on the closing of the private placement will own 7,000,000 common shares of Paragon. On issuance, the Shares will represent approximately 11.54% of Paragon's issued and outstanding common shares, calculated on a non-diluted basis assuming that no outstanding convertible securities of Paragon are exercised.
Canadian Zinc will acquire the Shares for investment purposes, and will acquire the balance of all issued and outstanding Paragon shares on completion of the Transaction. An early warning report will be filed with applicable securities regulators which will be available on SEDAR (www.sedar.com) and a copy of which may be obtained by contacting Canadian Zinc as follows:
Suite 1710, 650 West Georgia Street
PO Box 11644
Vancouver, British Columbia
V6B 4N9
Attention: Secretary
Telephone: (604) 688-2001
Fax: (604) 688-2043
Email: invest@canadianzinc.com
About Canadian Zinc Corporation
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 5.4 million tonnes of Measured and Indicated resources with an average grade 10.8% Zn, 10.2% Pb, 0.31% Cu and 160 g/t Ag as well as 6.2 million tonnes of Inferred resources with an average grade of 14.5% Zn, 11.5% Pb, 0.57% Cu and 229 g/t Ag. (AMC Mining Consultants (Canada) Ltd. J M Shannon and D Nussipakynova, Qualified Persons, June 2012).
A portion of the Mineral Resources was converted to a Mineral Reserve estimate of 5.2 million tonnes grading 9.4% zinc, 9.5% lead and 151 g/t silver. A Pre-Feasibility study completed by SNC Lavalin for Canadian Zinc 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 based on long-term metal price projections of $1.00/lb zinc, $1.00/lb lead and $26.00/oz silver (see Canadian Zinc press release dated June 27, 2012).
About Paragon Minerals Corporation
Paragon is a Canadian-based mineral exploration company focused on gold and base-metal exploration in Newfoundland and northwest Ontario. Paragon's flagship project is the 100%-controlled South Tally Pond VMS project where it is advancing a significant precious metal-rich massive sulphide deposit located in a producing base metal mining district in central Newfoundland. Paragon is also exploring an exceptional portfolio of gold properties through partner-funded and company-funded exploration programs. For more information, please visit the company's website at www.paragonminerals.com.
Risk and Uncertainties
The Company's business and results of operations are subject to numerous risks and uncertainties, many of which are beyond its ability to control or predict. Because of these risks and uncertainties, actual results may differ materially from those expressed or implied by forward looking statements, and investors are cautioned not to place undue reliance on such statements, which speak only as of the date hereof.
Investors are advised to review the discussion of risk factors associated with the Company's business set out in the Company's Annual Information Form for the year ended December 31, 2011, which has been filed with the Canadian Securities Regulators on SEDAR (www.sedar.com). The risks and uncertainties, as summarized in the Company's MD&A and in other Canadian and U.S. filings, are not the only risks facing the Company. Additional risks and uncertainties not currently known to the Company, or that are currently deemed to be immaterial, also may materially adversely affect the Company's business, financial condition and/or operating results.
Alan Taylor, P.Geo., Chief Operating Officer, Vice President Exploration and a Director of Canadian Zinc Corporation, is responsible for the Company's exploration program, and is a Non-Independent Qualified Person for the purposes of National Instrument 43-101 and has approved this press release.
Cautionary Statement - Forward Looking Information
This press release contains certain forward looking information. 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 issue of permits, the size and quality of the company's mineral reserves and resources, future trends for the company, progress in development of mineral properties, the timing of exploration, development and mining activities, completion of financings and the merger, capital costs, mine production costs, demand and market outlook for metals, future metal prices and treatment and refining charges, the financial results of the company and future gold production and profitability of Vatukoula Gold Mines in which the Company has a significant shareholding. 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. U.S. Investors are urged to consider closely the disclosure in our Form 40-F which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.
http://www.marketwire.com/press-release/canadian-zinc-announces-merger-private-placement-with-paragon-minerals-corporation-tsx-czn-1685336.htm
This share price seems like THE loading zone.
Canadian Zinc Reports Financial Results for First Quarter 2012
Continued progress on Prairie Creek Project
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2012) -
Canadian Zinc Corporation
(TSX:CZN)(OTCQB:CZICF) (the "Company", "Canadian Zinc" or "CZN")
announces its financial results for the three month period ended
March 31, 2012.
http://tmx.quotemedia.com/article.php?newsid=51307524&qm_symbol=CZN
Cdn Zinc Corp J (CZN)
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Volume: 154,000 @ 3:59:09 PM ET
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Cdn Zinc Corp J (CZN)
0.73 ? 0.01 (1.39%)
Volume: 114,000 @ 11:49:07 AM ET
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Cdn Zinc Corp J (CZN)
0.68 ? -0.01 (-1.45%)
Volume: 40,500 @ 3:56:50 PM ET
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0.68 0.7 0.68 - 0.7
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Canadian Zinc and Parks Canada Sign Renewed Memorandum of Understanding
OTTAWA, ONTARIO--(Marketwire - March 5, 2012) - Canadian Zinc Corporation (TSX:CZN)(OTCBB:CZICF) (the "Company" or "Canadian Zinc") and Parks Canada are pleased to announce a renewed Memorandum of Understanding ("MOU") regarding the operation and development of the Prairie Creek Mine and the management of Nahanni National Park Reserve.
The Prairie Creek Mine is located in the Mackenzie Mountains of the Northwest Territories, within the watershed of the South Nahanni River and in proximity to but outside the Nahanni National Park Reserve, which currently encircles the Prairie Creek Mine.
"We are pleased to have this new memorandum of understanding with Parks Canada which will ensure our continued cooperative relationship," said John F. Kearney, Chairman of Canadian Zinc Corporation. "Canadian Zinc accepts the value of Nahanni National Park Reserve to Canadians and will manage the development of the Prairie Creek Mine so the mine does not, in its own right, negatively affect the management and operations of the Park Reserve."
"Parks Canada is committed to the ongoing protection and world class visitor experiences of Nahanni National Park Reserve and recognizes and respects the rights of Canadian Zinc to develop the proposed Prairie Creek mine," said Alan Latourelle, CEO of Parks Canada. "In working collaboratively with Canadian Zinc to achieve our respective goals, we are able to balance environmental protection with economic development in the north and maximize benefits to Canadians."
The MOU, which is valid for three years, replaces the previous MOU signed between the Parties in 2008. In the MOU:
Parks Canada and Canadian Zinc agree to work collaboratively, within their respective areas of responsibility, authority and jurisdiction, to achieve their respective goals of managing Nahanni National Park Reserve and an operating Prairie Creek Mine.
Parks Canada recognizes and respects the right of Canadian Zinc to develop the Prairie Creek Mine and has granted Land Use Permit 2009 - L02 to provide road access through the Park to the Mine area.
Canadian Zinc acknowledges the cooperative management relationship Parks Canada shares with the Dehcho First Nations in the management of Nahanni National Park Reserve. This includes recognition of the 2003 Parks Canada - Dehcho First Nation Interim Park Management Arrangement and the role of the cooperative management mechanism - Nah?a Dehé Consensus Team.
Nahanni National Park Reserve:
Recently expanded to cover over 30,000 km2, Nahanni National Park Reserve protects a portion of the Mackenzie Mountains Natural Region and is an outstanding example of northern wilderness rivers, canyons, gorges and alpine tundra. Centred on the river valleys of the South Nahanni and Flat rivers in the southwest part of the Northwest Territories, Nahanni offers the adventurous visitor an unparalleled wilderness experience.
The Nahanni National Park Reserve is a jewel in Canada's network of 43 national parks, 167 national historic sites, and four national marine conservation areas managed by Parks Canada on behalf of all Canadians. As a world leader in managing protected areas, Parks Canada works to ensure that Canada's historic and natural heritage is presented and protected for the enjoyment, education and appreciation of all Canadians, today and in the future. Parks Canada sets the stage and invites Canadians, as well as people from around the world, to engage in personal moments of inspiring discovery of our treasured natural and historic places.
Prairie Creek Mine:
The Prairie Creek Mine is partially developed with an existing 1,000 tonne per day mill and related infrastructure.
On December 8, 2011, the Mackenzie Valley Environmental Impact Review Board issued its Report of Environmental Assessment and Reasons for Decision for the Company's proposed Prairie Creek Mine. The Review Board concluded that the proposed development of the Prairie Creek Mine is not likely to have any significant adverse impacts on the environment or to be a cause for significant public concern. The Review Board concluded that an environmental impact review of this proposed development is not necessary and that the Prairie Creek Mine project should proceed to the regulatory phase for approvals.
Contact Information
Canadian Zinc Corporation
John F. Kearney
Chairman
(416) 362-6686
(416) 368-5344 (FAX)
Canadian Zinc Corporation
Alan B. Taylor
(604) 688-2001 or Tollfree: 1-866-688-2001
(604) 688-2043 (FAX)
invest@canadianzinc.com
www.canadianzinc.com
Parks Canada
Robert Kent
Field Unit Superintendent, Southwest NWT
(867) 872-7900
(867) 872-3910 (FAX)
Parks Canada Agency
Media Relations
(819) 953-8371
http://www.marketwire.com/press-release/canadian-zinc-and-parks-canada-sign-renewed-memorandum-of-understanding-tsx-czn-1628036.htm
Vatukoula Gold Mines reports a 47% rise in gold production -
CANADIAN ZINC CLOSES $4 MILLION SECOND TRANCHE OF ZHONGRUN PRIVATE PLACEMENT -
PRAIRIE CREEK PERMITTING PROCESS UNDERWAY
Vancouver, British Columbia, February 10, 2012 –
Canadian Zinc Corporation -
http://www.canadianzinc.com/docs/NR021012.pdf
(TSX: CZN; OTCQB: CZICF) (the “Company” or “Canadian Zinc”) is pleased to announce that, following
receipt of regulatory approval, it has closed the second and final tranche of the previously
announced non-brokered private placement with Zhongrun International Mining Co. Ltd.,
consisting of an additional 6,000,000 units (“Units”) at $0.67 per Unit for gross proceeds of
$4,020,000.
On December 30, 2011, Canadian Zinc closed the first tranche of the Zhongrun private
placement of 9,000,000 units at $0.67 per unit for gross proceeds of $6,030,000.
Each Unit consists of one common share and one-half of one common share purchase warrant.
Each whole warrant will entitle the holder to purchase one common share of the Company at an
exercise price of $0.90 per common share for a period of 24 months from the date of issuance.
In connection with the Zhongrun financings the Company paid a finder’s fee of $502,500 to an
arm’s length intermediary.
Closing of the second tranche of the Zhongrun financing brings the total gross proceeds raised
from the recent financings to $17.6 million.
On December 30, 2011, Canadian Zinc closed a
private placement of 3,275,000 flow-through shares at $0.75 per share for gross proceeds of
$2,456,250 and on January 6, 2012 Canadian Zinc closed a bought deal public offering of
7,610,000 units at $0.67 per unit for gross proceeds of $5,098,700.
Permitting Process Underway at Mackenzie Valley Land and Water Board
On December 8, 2011, the Mackenzie Valley Environmental Impact Review Board (“Review
Board”) issued its Report of Environmental Assessment and Reasons for Decision for the
Company’s proposed Prairie Creek Mine and submitted the Report and Decision to the Federal
Minister of Aboriginal Affairs and Northern Development.
The Review Board concluded that the
proposed development of the Prairie Creek Mine is not likely to have any significant adverse
impacts on the environment or to be a cause for significant public concern.
The Review Board
concluded that an environmental impact review of this proposed development is not necessary
and that the Prairie Creek Mine project should proceed to the regulatory phase for approvals by
the Mackenzie Valley Land and Water Board (“Water Board”). 2
The Company has been advised by the Water Board that
http://www.canadianzinc.com/content/investor/news.php
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Cdn Zinc Corp J (CZN) fiat$0.73 UP $0.04 +5.80%
Volume: 606,500 @ 3:59:25 PM ET Good Demand
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Cdn Zinc Corp J (CZN)
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Steve, hope the Ag production starting soon
Merry Christmas
Cdn Zinc Corp J (CZN)
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Volume: 39,500 @ 2:17:03 PM ET
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Cdn Zinc Corp J (CZN)
0.63 ? -0.01 (-1.56%)
Volume: 125,500 @ 3:59:48 PM ET
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0.63 0.64 0.63 - 0.66
TSE:CZN Detailed Quote Wiki
Canadian Zinc Reports Financial Results for Third Quarter 2011
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 4, 2011) - Canadian Zinc Corporation (TSX:CZN)(OTCQB:CZICF) (the "Company" or "Canadian Zinc") announces its financial results for the three and nine months ended September 30, 2011.
http://www.marketwire.com/press-release/canadian-zinc-reports-financial-results-for-third-quarter-2011-tsx-czn-1582494.htm
FEDERAL GOVERNMENT PROVIDES $3 MILLION FUNDING TO ASSIST IN TRAINING
ABORIGINAL EMPLOYEES AT CANADIAN ZINC’S PRAIRIE CREEK MINE -
http://www.canadianzinc.com/docs/NR082911R_website.pdf
God Bless
Cdn Zinc Corp J (CZN)
0.86 ? 0.0 (0.00%)
Volume: 343,000 @ 1:16:00 PM ET good demand
Bid Ask Day's Range
0.85 0.87 0.83 - 0.91
TSE:CZN Detailed Quote
Cdn Zinc Corp J (CZN)
0.71 ? 0.0 (0.00%)
Volume: 104,500 @ 3:59:40 PM ET
Bid Ask Day's Range
0.71 0.72 0.7 - 0.72
TSE:CZN Detailed Quote
Cdn Zinc Corp J (CZN)
0.72 ? 0.02 (2.86%)
Volume: 30,000 @ 12:21:37 PM ET
Bid Ask Day's Range
0.71 0.72 0.71 - 0.72
TSE:CZN Detailed Quote
Cdn Zinc Corp J (CZN)
0.71 ? 0.02 (2.90%
Volume: 372,000 @ 2:35:18 PM ET
Bid Ask Day's Range
0.7 0.72 0.67 - 0.71
TSE:CZN Detailed Quote
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=62659010
Silver = Kesef = Money =
well, Silver also means Money in my Hebrew
well, the REAL MONEY since 1000s of years -
= the more manipulation = the higher Ag will FLY =
history of LT bankster Ag=Kesef=Money manipulations =
for banksters to take Kesef from the People -
give nickel/copper to the slave to keep them slaves -
= well, old timers said fiat$1000 in our Ag=Kesef Money =
= well, be Safety LT for our Family
http://maxkeiser.com/
= well, told you since the turn around $2,55 =
= well, the LT Ag-Keseftrain GOING UP =
= well, get OFF the fence =
= well, join GPL the Jer-USA-lem Ag Kesefride =
= well, the faster the better LT FOS
God Bless
eom7, the super red 666 bankster gangsters cultz -
are famous for shaking the tree -
to scare out all PEOPLE before -
the inside nwo gangs symphony red
orchestraz ponzy schemez manipulationz
play to fill their khasarz of gypsez
big pocketz -
its often a good sign to....
the old PEOPLE Longs knows -
$5,000 Gold And $300 Silver Are Credible Numbers
http://www.gold-eagle.com/editorials_08/west041911.html
soon a lot of silver bullets will be needed -
http://www.eutimes.net/2011/04/us-at-risk-of-war-with-china-russia/
http://www.888c.com/yTG19951207.htm
God Bless
Any idea why this is taking such a hit? Not that all PM stocks aren't also!
CZN Chart TI P&F TA Alert bullish price objective $4.48 per share -
Canadian Zinc Corporation -
The Hunt brothers dream - Silver Mine -
http://www.canadianzinc.com/content/investor/press/western-standard.php
Video Gallery
http://www.canadianzinc.com/content/gallery/video/
http://www.canadianzinc.com
Ag & Au most often follow each other Higher
GOLD chart TA TI P&F Bullish Price 1st Target Obj $1714.48 per ounce
Mining News: Prairie Creek inches toward production
Two decades after undertaking development of the NWT underground mine, tenacious Canadian Zinc may yet have a ways to go
Rose Ragsdale
For Mining News
All bets are off, but prospects for the project most likely to succeed in becoming the next producing mine in Northwest Territories got a boost recently when its developer commissioned a new feasibility study.
Canadian Zinc Corp. in February reported engaging SNC-Lavalin Inc. to complete the feasibility study in 2011 for the underground Prairie Creek Project, a longstanding mining venture where it hopes to capitalize on several decades of development work to produce lead and zinc concentrates and a silver-bearing copper concentrate.
The project is located in an environmentally sensitive remote area in the Mackenzie Mountains of southwestern Northwest Territories, within the watershed of the South Nahanni River and in proximity to, but outside, the Nahanni National Park Reserve. The Government of Canada expanded the Nahanni National Park Reserve in June 2009 to completely surround the Prairie Creek Mine, however federal officials have assured Canadian Zinc of its third-party rights to operate and access the Prairie Creek Mine. The mine is also located in an area which is claimed by the DehCho First Nations as their traditional territory. No land claim settlement agreement has been reached between Canada and the DehCho.
Mineralization was discovered in Prairie Creek in 1928, but the property attracted only limited exploration until 1966. The Prairie Creek mineral deposit hosts nearly 6 million metric tons of measured and indicated resources grading 10.71 percent zinc, 9.90 percent lead, 0.326 percent copper and 161.12 grams per metric ton silver, along with 5.54Mt inferred resources grading 13.53 percent zinc, 11.43 percent lead, 0.514 percent copper and 215 g/t silver and additional exploration potential, according to a 2007 independent estimate which is the most recent available.
Unique opportunity
The Prairie Creek Mine project is considered unique because its environmental footprint is virtually complete. The project came within three months of production startup in 1982 before silver prices declined and the original developer, Cadillac Explorations Ltd., was placed into receivership after a spending a total of C$64 million on the project.
Since then, improvements proposed for specific site facilities have been aimed at further mitigating any potential impact the project may have on the environment. For example, filtered mill tailings will be disposed as underground backfill instead of on the surface.
The mine, mill and camp was issued a land use permit in 1980 and subsequently a water license in 1982.
Much of the mine site’s current infrastructure, which includes a nearly complete 1,000-metric-tons-per-day mill concentrator, a two-story administration building, workshops, three levels of underground development, accommodations and fuel storage facilities, was held in care and maintenance until 1990.
In 1991, Canadian Zinc (then San Andreas Resources Corp.) negotiated an option to acquire an interest in the Prairie Creek property, and 20 years later, the would-be mine developer may be finally closing in on first production.
Canadian Zinc said existing infrastructure at the mine site is an important aspect of the project and, while requiring some upgrades, it will substantially reduce what would otherwise be the capital cost of putting the deposit into production. Planned new facilities will include a kitchen/accommodation block, concentrate shed, fuel-efficient low-emission power generation units, and an incinerator.
The company holds a water license and a land use permit for underground exploration and development and operation of a pilot plant, and land use permits for surface exploration. These permits were issued after environmental assessments were carried out by the Mackenzie Valley Environmental Impact Review Board. Through these assessments, the site and existing facilities have been extensively studied and reviewed, and relevant permits issued. A number of plans and structures have already been developed and been reviewed and approved by the Mackenzie Valley Land and Water Board. Those will form a major part of the proposed development, including mine water contingency and spill contingency plans, a certified tank farm and a polishing pond.
The company also holds permits for a winter road to access the mine site from the Liard Highway.
Prairie Creek’s current estimated measured and indicated resources are capable of supporting a mine life of more than 14 years at an initial production rate of 600 tons per dsy, which would increase to 1,200 tpd. In addition, future inclusion of the inferred resources is expected to extend the mine’s life to at least 20 years.
Canadian Zinc said about 220 permanent workers will be needed at the mine, half of whom would be on-site at any one time. Personnel will generally work a three weeks on, three weeks off schedule (with variations as required). Area nonresident personnel will be flown in on charter flights from regional centers, while local personnel will be flown in from the communities of Nahanni Butte, Fort Liard and Fort Simpson.
The company said it is targeting a 35 percent northern work force, with a minimum 15 percent of its employees being members of First Nations. It also plans to offer training programs to fill mine positions.
2010 activities
Work at the Prairie Creek mine site during the summer of 2010 included continuing care and maintenance, environmental monitoring programs, road construction and repair, and a diamond drill exploration program. Canadian Zinc spent a total of C$4.2 million, compared with C$2.3 million in 2009.
In 2,700 meters of deep drilling, the company also confirmed the presence of the host Whittaker geological formation at the projected horizon, about 4 kilometers, or 2.5 miles, north of the Prairie Creek Mine portal, and the potential vein target that is projected to lie at a down-hole depth of about 1,500 meters.
Further repair work to the existing mine access road was completed, and a new 8-kilometer-, or 5-mile-, long access road to the new drill pad at Casket Creek was constructed.
In August a perimeter land survey was completed on the Gate mineral claims resulting in an adjusted total surface area for the new Gate mining leases of 2,776 hectares, or 6,860 acres. The Gate claims contain similar geology to that of the Prairie Creek mine and grassroots exploration developed new base metal targets, some of which still remain under-explored. The proximity of these claims to the Prairie Creek Mine, and the similarities in geology, justified upgrading the mineral tenure of these claims to long-term mining leases that expire in September 2030.
The Prairie Creek land package, including mining claims, mining leases and surface leases, now totals 8,218 hectares, or 20,299 acres.
Canadian Zinc also undertook the removal, by airlift, of all PCB (polychlorinated biphenyls) contaminated material that has been stored in a dedicated safe facility on site since 1982. This follows a similar program that removed all old cyanide from the site in 2008. The company contracted Hazco Environmental Services to repackage, remove and transport the PCB material off-site to be disposed of, by incineration, at the certified Earth Tech Swan Hills disposal facilities in Northern Alberta.
Canadian Zinc also continued discussions and engagement with the local communities of Nahanni Butte Dene Band and Liidlii Kue First Nation (Fort Simpson) with whom it has entered into a memoranda of understanding to establish mutually beneficial, cooperative and productive relationships. The company has agreed to use its best efforts to employ community members on a first preference basis and to assist the communities to benefit from business opportunities associated with the Prairie Creek Project.
On Jan. 20, Canadian Zinc signed the Nah’a Dehe Dene Prairie Creek Agreement, which provides for an ongoing working relationship between Canadian Zinc Corp. and the Nah’a Dehe Dene Band (Nahanni Butte Dene Band). The agreement provides a framework such that training, employment and business contracts are made available to Nahanni to the mutual benefit of both parties.
Comprehensive technical studies
Over the years, a substantial amount of technical data has been accumulated on the project, dating back to the 1970s and the subsequent completion of the original Prairie Creek Definitive Feasibility Study by a former subsidiary of SNC-Lavalin in 1980. Numerous other technical and economic studies have been carried out since, while exploration of the property continued.
During the past two years, Vancouver-based SNC has assisted Canadian Zinc with various aspects of project planning and design as part of the ongoing environmental assessment process. SNC, which is celebrating 100 years in business in 2011, also has experience in designing and constructing other mine projects in the Far North: Rio Tinto and Harry Winston’s Diavik diamond mine and Newmont Gold Corp.’s Hope Bay Davis North gold project (Nunavut).
The general scope of the feasibility study will include detailed engineering and design including mining equipment, on-site and off-site infrastructure, transportation and logistics, a construction schedule and execution plan and capital and operating cost estimates.
Key aspects of the mine’s design will be integrated into the new feasibility study with the help of subcontractors, including: DRA Americas – DMS (Dense Media Separation) plant design; Mine Paste Engineering Ltd. – paste plant design; Golder & Associates – site facilities and water treatment design; and SGS Lakefield Research Ltd. – metallurgy and processing.
More permitting ahead
The project is currently in the advanced stages of environmental assessment by the environmental review board. It is expected that public hearings will be held in April or May and that the EA process for the Prairie Creek Mine will be completed in mid-2011.
A further regulatory stage managed by the territory’s land and water board (with input from territorial and federal agencies) will follow the EA before permits are issued. These permits will likely include conditions recommended as a result of the EA, the company said.
With the environmental assessment nearing completion, Canadian Zinc said major operational parameters that will factor into the project’s implementation are now being determined and now is the time to evaluate the project’s capital costs and financial analysis through the completion of the feasibility study, in anticipation of arranging construction and working capital financing.
The company also told federal securities regulators in a March 16 filing that since 2001, it has successfully obtained seven permits for the exploration and development of the Prairie Creek property from the territory’s land and water board, including two type “B” water licenses, four land use permits for exploration activities and underground development and a winter road permit. In addition, various aspects of the Prairie Creek project have been the subject of five previous EAs carried out by environmental review board, all of which resulted in recommendations that the relevant project be allowed to proceed.
Although it has experienced long delays in obtaining permits, and expects a continued lengthy process with its permitting activities, Canadian Zinc said it has, to date, successfully carried out extensive programs at Prairie Creek, in accordance with all regulatory requirements and in compliance with all permits and licenses.
“Given the open-ended nature of the Mackenzie Valley permitting process, and the company’s experience to date, it is likely that the environmental assessment process will extend for a considerable time,” the company added.
http://www.petroleumnews.com/pntruncate/76532657.shtml
The Prairie Creek Mine project is considered unique because its environmental footprint is virtually complete. The project came within three months of production startup in 1982 before silver prices declined and the original developer, Cadillac Explorations Ltd., was placed into receivership after a spending a total of C$64 million on the project. Work at the Prairie Creek mine site during the summer of 2010 included continuing care and maintenance, environmental monitoring programs, road construction and repair, and a diamond drill exploration program. Canadian Zinc spent a total of C$4.2 million, compared with C$2.3 million in 2009. Over the years, a substantial amount of technical data has been accumulated on the project, dating back to the 1970s and the subsequent completion of the original Prairie Creek Definitive Feasibility Study by a former subsidiary of SNC-Lavalin in 1980. Numerous other technical and economic studies have been carried out since, while exploration of the property continued. The project is currently in the advanced stages of environmental assessment by the environmental review board. It is expected that public hearings will be held in April or May and that the EA process for the Prairie Creek Mine will be completed in mid-2011.
by lurker thanks
Watching this one. Permits, and it should fly.
Cdn Zinc Corp J (CZN) funfiat$1.34 UP $0.12 +9.84%
Volume: 1,055,259 @ 3:59:23 PM ET Strong Demand
Bid Ask Day's Range
1.33 1.34 1.22 - 1.35
TSE:CZN Detailed Quote
The Hunt Brothers’ Silver Dream Mine –
Canadian Zinc (TSX:CZN, OTCBB:CZICF)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=60160272
CZN Chart TI P&F TA Alert bullish price objective $4.32 per share -
The CZN P&F crystal ball light good NEWS coming
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=60160272
God Bless
Cdn Zinc Corp J (CZN) funfiat$1.31 per share
? -0.01 (-0.76%)
Volume: 620,683 @ 3:58:44 PM ET good demand
Bid Ask Day's Range
1.32 1.34 1.3 - 1.41
TSE:CZN Detailed Quote
New Rules Will Cause Panic For Shorts
Posted: Feb 25 2011 By: Jim Sinclair
Filed under: General Editorial
Dear Friends,
February 28th > be prepared for panicked
short sellers who cannot make delivery to try every trick in
the book to buy back their short positions.
http://jsmineset.com/
The following is information from Dr. Jim Decosta:
Here is the URL:
http://www.finra.org/Industry/Regulation/RuleFilings/2010/P121892?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+FINRARuleFilings+(FINRA+Rule+Filings)
Quote: There’s 3 new laws gaining attention in the NSS market reform arena:
FINRA 4320 goes into effect on 2/28/11.
It mandates 13 day buy-ins for open delivery failures FINALLY
applying to shares of non-reporting corporations.
FINRA 2010-043, also starting on 2/28/11 reinstates the
“short sale exempt” (SSE) marking requirements for trade
reporting and the OATS system.
Those MMs accessing the bona fide MM exemption from executing
pre-borrows or “locates” before admittedly naked short sales
must now FORMALLY acknowledge the accessing of that
universally-abused exemption.
Being that these trades are theoretically being made to
“inject liquidity” then the excuse to hide the related
trade data from the public’s eyes goes out the window.
You can’t have it both ways and claim the bona fide MM
exemption and later claim that the related trade data
needs to be kept secret because it might reveal a
“proprietary trading strategy”.
Truly bona fide MMs that are able to legally access that
universally-abused exemption cover their naked short position
on the next downtick after their short sale when buy side
liquidity is in need of being ejected as share prices fall.
The 3rd new rule which is in effect now states that
the offers and bids that MMs post must be of approximately
the same size.
No longer can the offers be of 1 million shares and
the offsetting bid good for the minimum 5,000 shares.
The verbiage in 4320 is especially well done as it FINALLY puts
the clearing firms that aid and abet this crime wave on the
spot.
With the FFETF, which is made up of 25 different agencies,
now on the scene the transparency has increased markedly.
You can imagine how critical the lack of transparency is to
a crime involving selling nonexistent securities and
then refusing to ever deliver that which you sold AFTER
being allowed access to the funds of the investor being
defrauded.
Here are the links to the rules
SR-FINRA-2010-028
and SR-FINRA-2010-043:
http//www.finra.org/Industry/Regulation/RuleFilings/2010/P121522
Notice the part I marked in bold in the quote above:
"FINRA 4320 goes into effect on 2/28/11.
It mandates 13 day buy-ins for open delivery failures FINALLY
applying to shares of non-reporting corporations."
God Bless
Eric Sprott: The government lied; there is no more silver
http://www.marketoracle.co.uk/financial_markets_analysis_videos_10.htm#vid14
Canadian Zinc Corporation: Prairie Creek Mine Feasibility Study Commissioned
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2011) - Canadian Zinc Corporation (TSX:CZN)(OTCBB:CZICF) is pleased to announce that it has engaged SNC-Lavalin Inc., ("SNC") of Vancouver to carry out a Feasibility Study on the Prairie Creek Mine.
The general scope of the Feasibility Study will include the following:
* Detailed Engineering and Design, including mining equipment, on-site and off-site infrastructure, transportation and logistics;
* Construction Schedule and Execution plan;
* Capital and Operating Cost Estimates.
A number of key aspects of the Study will be integrated into the Feasibility Study through the continued participation of subcontractors including;
DRA Americas -- DMS (Dense Media Separation) plant design;
Mine Paste Engineering Ltd. -- paste plant design;
Golder & Associates - site facilities and water treatment design; and
SGS Lakefield Research Ltd., - metallurgy and processing.
SNC is experienced in the design, development and delivery of mining, processing, tailings, infrastructure and transportation facilities and some SNC personnel have had involvement in the Prairie Creek Project for several years. SNC also has experience in designing and constructing mine projects in the Northwest Territories.
The 100% owned Prairie Creek Mine, in the Northwest Territories, is currently in the advanced stages of Environmental Assessment by the Mackenzie Valley Review Board. With the Environmental Assessment nearing completion, the major operational parameters that will factor into the project implementation are now being determined and this presents the opportunity to evaluate the capital costs and financial analysis through the completion of the Feasibility Study, in anticipation of arranging construction and working capital financing.
It is expected that the Feasibility Study will be completed by end of 2011.
Background
A substantial amount of technical data has been accumulated on the Prairie Creek Project, dating back to before the completion of the original Prairie Creek Definitive Feasibility Study by a former subsidiary of SNC-Lavalin in 1980.Subsequent to this formal report numerous other technical and economic studies have been carried out while exploration of the property continued. Over the course of the last two years SNC has been assisting the Company with various aspects of project planning and design as part of the ongoing Environmental Assessment process.
The Prairie Creek minesite currently contains significant infrastructure including an almost completed 1000 tonne per day mill concentrator, a two story administration building, and workshops, 3 levels of underground development, accommodations and fuel storage facilities. This existing infrastructure is an important aspect of the Project and, while requiring some upgrades, substantially reduces what would otherwise be the capital cost of putting the Prairie Creek Mine into production.
The current Measured and Indicated Resource is capable of supporting a mine life in excess of fourteen years at the planned initial rate of 600 tonnes per day, which will increase to 1,200 tonnes per day, and the future inclusion of Inferred Resources is expected to extend the mine life to at least 20 years.
About the Prairie Creek Mine
Canadian Zinc's principal focus is to advance the Prairie Creek Mine towards production.
The Prairie Creek mineral deposit contains substantial quantities of zinc, lead and silver The Prairie Creek Property hosts total Measured and Indicated Resources of 5,840,329 tonnes grading 10.71% zinc, 9.90% lead, 0.326% copper, and 161.12 grams silver per tonne, a large Inferred Resource of 5,541,576 tonnes grading 13.53% zinc, 11.43% lead, 0.514% copper and 215 grams silver per tonne and additional exploration potential. [Technical Report October 2007, Minefill Services Inc Dr. David Stone and Stephen Godden, Qualified Independent Persons.].
The proposed development and operation of the Prairie Creek Project is currently undergoing Environmental Assessment by the Mackenzie Valley Environmental Impact Review Board, and it is expected that the EA process will be completed by mid 2011.
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.
For more information, please contact
Canadian Zinc Corporation
John F. Kearney
Chairman
(416) 362-6686
(416) 368-5344 (FAX)
or
Canadian Zinc Corporation
Alan B. Taylor
VP Exploration & Chief Operating Officer
(604) 688-2001 or Toll Free: 1-866-688-2001
(604) 688-2043 (FAX)
invest@canadianzinc.com
www.canadianzinc.com
http://www.marketwire.com/press-release/Canadian-Zinc-Corporation-Prairie-Creek-Mine-Feasibility-Study-Commissioned-TSX-CZN-1403086.htm
.
Cdn Zinc Corp J (CZN)
1.44 ? 0.1 (7.46%)
Volume: 294,909 @ 9:46:38 AM ET
Bid Ask Day's Range
1.43 1.44 1.35 - 1.45
TSE:CZN Detailed Quote
hi Bob and to all. lebed is touting 'Canadian Zinc Corporation (TSE:CZN)'
pick for 2011 Canadian Zinc (TSX: CZN) surged today to a new 52-week high of $1.56 up 129% since I released my top 11 picks for 2011 list on January 2nd at $0.68!
I will be announcing a new HUGE gold pick tonight! Be ready!
Cdn Zinc Corp J (CZN) fiat$1.36 UP $0.21 +18.26%
Volume: 3,896,830 @ 3:57:20 PM ET Strong Demand
Bid Ask Day's Range
1.35 1.36 1.15 - 1.56
TSE:CZN Detailed Quote
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=60160272
God Bless
The Hunt Brothers’ Silver Dream Mine –
Canadian Zinc (TSX:CZN, OTCBB:CZICF)
Introduction older snippet -
The author is old enough to remember the 1980’s during the last
precious metals’ rampant rise and the news about the Texas oil
billionaires, Nelson Bunker Hunt and William Herbert Hunt,
brothers trying to corner the Silver market.
The Hunts eventually controlled about one third of the world’s
Silver, before under political pressure, the COMEX rules changed
and the Silver price crashed.
One of the Hunt undertakings during this time was the acquisition
and building of the Silver mine at Prairie Creek -
in Northern Canada.
Now this property and mine belongs to Canadian Zinc Corporation
(TSX:CZN, OTCBB:CZICF).
For further information, Canadian Zinc’s
latest Powerpoint presentation is here and their website
is here.
Canadian Zinc is also a Silver stock favorite of Jason Hommel,
the publisher of the Silver Stock Report.
Interestingly, a website named inflation.us is also
recommending Canadian Zinc to their readership.
Canadian Zinc is an intriguing investment story about a
new high grade Silver, Zinc, Lead and Copper underground
mine that was 3 months from startup before the previous
Hunt brothers’ cornered by poli-tics.
As the author is a junior miner investor, and has a great
interest in Silver, it was extremely opportune to be able
to speak to one of my Silver holdings’ Chief Operating Officer
during the Silver price moves this week.
The author happened to be contacted by Earl Hope, Investor
Relations, of Canadian Zinc regarding their calendar, which
I had requested a copy of.
One thing led to another, and before long, Mr. Alan Taylor,
COO of Canadian Zinc was giving me an exclusive interview
on very short notice. The following interview notes are
verbatim from September 15, 2010.
Interview with Alan Taylor, COO & VP Exploration of
Canadian Zinc Corporation
Mr. Taylor was asked to start and give a background
and introduction to the company.
Alan Taylor: Canadian Zinc -
has been around since 1999 with a name change from the
previous San Andreas Resources Corporation which acquired
the Prairie Creek project in 1992 through an option from
Conwest Exploration.
The project itself is a very unique project in the mining realm,
for a number of reasons, and a couple of the significant
ones being that there is an almost complete infrastructure
on site right now, and that there is a significant high
grade resource in the ground that is still open ended.
You have to go back a little further than San Andreas,
with Prairie Creek because it has a long history to it.
The mine was fully permitted in 1980 for operations under
Cadillac Explorations when the Hunt brothers received a loan
for $65 million dollars to set up infrastructure including
a 1000 ton per day mill and 3 levels of underground development,
accommodations and workshops on site.
Figure 1:
Birds eye view of the Prairie Creek mine of Canadian Zinc.
Note that all the facilities are already in place and in
pristine condition, being newly built in the 1980’s and
not being used.
They were focusing on Silver trying to somewhat monopolize
that and they were out maneuvered through political
influences of the US securities.
In 1982 when Silver prices collapsed, Prairie Creek was
3 months away from production and the banksters
polo-ticz cornered them into bankrupt and it was
closed, maintenance, even though 90% of the mine was there.
It went into receivership for many years under the maintenance
of Conwest and in 1992 San Andreas picked it up.
Since 1992, the scope of the project has been looked at in
a longer term, because of the location it is in, it is a
sensitive environmental location because of proximity to
the Nahanni National Park Reserve. Because of the sensitivities
of environmental management, it has taken longer to move along,
and the company view was to see a longer term project with
longer term resources rather than the original 7 year outlook
of Cadillac.
So since that time, we’ve expanded the resource base from
the original reserves of Cadillac of 2 million tons, now we have
in excess of 11 million tons and we can now easily obtain
a 20 year feed for the mine.
With that capacity of resources in hand, we taken the last
few years to upgrade the resource to measured and indicated.
On the back of that we have an indicated minimum 14 year life
for just measured and indicated and an equal amount in
longevity to the mine in inferred resources.
by Marco G. partly thanks good info
Note. old result -
eom7, CNZ its a long bull run back UP
its a lot of money recently invested in the mine
infrastructure, road work to hold heavy duty trucks etc.
and a gold mine CZN is a major shareholder in have
produced a lot of gold goes to 100k ounces per year soon -
only that value some say -
should make it a $15.-/sh value
The Hunt brother Ag dream mine bull run started -
funny that the fiats still can get any CZN
one day no way to catch it with any -
of the funny fiats papers
It has been said its the richest Ag mine in the world?
how come any kind of fiat papers can catch it?
Video Gallery
http://www.canadianzinc.com/content/gallery/video/
http://www.canadianzinc.com
http://www.canadianzinc.com/content/investor/press/western-standard.php
http://investorshub.advfn.com/boards/board.aspx?board_id=14899
The Hunt brothers dream - Silver Mine
Richest silver mine in the world?
dd..Hunt's great Ag play..
http://www.canadianzinc.com/
http://www.canadianzinc.com/content/gallery/video/
http://www.canadianzinc.com/content/gallery/powerpoint.php
CNZ its a long bull run back UP
CZN TA LT bull run starting breakout
A memo that when Hunt brothers was to start the mill -
the stock was much higher and in 1980 $$??
Its an Ag great treasure chest safety bargain today vs.
all fiats papers!
More than fiat$100 million of the old good $$ been invested
would take more >a billion in todays peanut paper fiats -
to catch anything with this Ag to moon
God Bless
http://www.canadianzinc.com/images/headers/mine.jpg
Canadian Zinc (CZICF.PK) Silver in a Clear Uptrend -
http://seekingalpha.com/article/253943-silver-in-a-clear-uptrend?source=qp_article
God Bless
Cdn Zinc Corp J (CZN) fiat$1.08 UP $0.1 +10.20%
Volume: 422,487 @ 11:18:33 AM ET Strong Demand
Bid Ask Day's Range
1.07 1.08 1.0 - 1.08
TSE:CZN Detailed Quote
The Hunt brother Ag dream mine bull run started -
funny that the fiats still can get any CZN
one day no way to catch it with any -
of the funny fiats papers
Video Gallery
http://www.canadianzinc.com/content/gallery/video/
http://www.canadianzinc.com
Vatukoula Gold Mines PLC - VATKF:OTO $2.75 +$0.12 +4.56%
1d5d3m6mYTD1y2y5y LineAreaOHLC
http://www.stockhouse.com/tools/?page=%2FfinancialTools%2Fsn_overview.asp%3Fsymbol%3DVATKF
The Vatukoula Gold Mine,
from which the Company takes its name, is the core focus for the Company.
Vatukoula Gold Mines is currently pursuing a strategy of refurbishment and development at this
prolific gold producing mine.
Applying modern mining techniques and equipment in the mining process
will assist in restoring production to historic rates of 100,000 ounces of gold per annum.
The Company is currently progressing full underground and surface mining exploration drill programmes
with the intention of increasing the information available on the current gold resources as an aid
to more efficient planning.
The Company has built a strong team comprising experts drawn from each of their respective fields -
geology, geochemistry, mine engineering, mine design, drilling operations and project management.
Each person is avalued member of the Vatukoula Gold Mines
team and works to advance and achieve the Company's target of
producing 100,000 ounces of gold a year.
http://www.vgmplc.com/operations/
http://www.vgmplc.com
OLD REPORT:
CANADIAN ZINC REPORTS NET INCOME OF $10.9 MILLION FOR NINE MONTHS
• Gain of $16.7 million recorded on investment in Vatukoula Gold Mines
http://www.canadianzinc.com/docs/NR110810Q3.pdf
http://www.canadianzinc.com/content/investor/news.php
CZN investments in Vatukoula Gold Mines IN 100S OF MILLIONS TODAY?
Hyperinflation of fiat$
http://www.vgmplc.com
Canadian Zinc Corporation (TSE:CZN) Booth # 818 at Vancouver Resource Investment Conference
January 23-24, 2011
Vancouver Convention Centre,
West 1055 Canada Place, Vancouver, BC
Canadian Zinc Corp. CZN.TO 818
http://cambridgehouse.com/conference-details/vancouver-resource-investment-conference-2011/15
Vancouver Convention Centre, West
1055 Canada Place, Vancouver, BC
Conference Registration | Agenda | Hotel & Travel | Floorplan
Speaker Line Up | Exhibitor List | Map
http://cambridgehouse.com/
http://cambridgehouse.com/conference-details/vancouver-resource-investment-conference-2011/15
Vatukoula development plan will afford the company greater production flexibility
Monday, January 10, 2011 by Ian Lyall
The process is designed to turn the mine into a 100,000-ounce-a-year
producer and is set to continue right the way through to May.
The process is designed to turn the mine into a 100,000-ounce-a-year producer and is set to continue right the way through to May.
http://www.proactiveinvestors.co.uk/companies/news/24444/vatukoula-development-plan-will-afford-the-company-greater-production-flexibility-24444.html
The accelerated underground development plan by Vatukoula Gold Mines (LON:VGM) will create some short term pain for the miner but it will eventually afford it some much needed “production flexibility”.
This is the conclusion of broker WH Ireland, which restated its 'buy' stance and 224 pence a share price target in the wake of today’s update from the group.
The process is designed to turn the mine into a 100,000-ounce-a-year producer and is set to continue right the way through to May.
“With its schedule of increasing development drives available for future production, the company is increasing its production flexibility and therefore further increasing its operational resilience,” WH Ireland analyst Tom Elder said in a note to clients.
“We reiterate this is highly desirable in the single-mine operation such as Vatukoula’s.
“Vatukoula remains on target to achieve its stated stage one production target of 100,000oz per annum,” he said.
“The company is also continuing with its exploration effort, with the ultimate goal of extending its reserve life significantly. We have few doubts that both these aims are highly achievable.”
The downside initially is that ore grades from the company’s wholly owned Vatoula Mine in Fiji have been lower in the first quarter of the company's financial year than they were in the previous three months.
Chief executive David Paxton said: "The first quarter has been focused on an intensive development program at the mine in order to overcome the historic shortage of operating areas and to prepare for the increase in production to achieve our long term gold production rate.
"Development was increased over 100 percent. However the increase in ore mined was below plan, and gold production for this quarter was marginally lower than forecast.
"We anticipate that development will be maintained at this increased rate until about May 2011 and as a result, we plan to be continuing to deliver lower grade ore, and hence we expect that gold production will be lower in the second quarter than the current quarter."
The grade of the precious metal recovered dropped to 6.48 grams per tonne in the quarter starting September 2010 from 8.81 grams three months earlier.
Over that same period cash costs increased to US$1,047 an ounce from US$647, while net operating earnings fell to £3.2 million from £.5.5 million.
Ore mined and delivered increasd 12 percent to 80,914 tonne from 72,444, VGM said in an update to investors.
Collins Stewart’s John Mcgloin said: “While production numbers are down the news that development metres are up 100 per cent should be seen as highly positive and a flag that the company is progressing well to achieving its 100,00 ounce production target.
“Adequate development is the crux for all underground operations and particularly so for VGM as the variability of the orebody means that it needs to have flexibility in selecting high and medium grade stopes to optimise production.”
The company is a rare commodity on the AIM market – a producing gold mine with a world class resource base.
The Vatukoula gold mine sits on a reserve of 630,000 ounces with a resource of 4.3 million ounces.
The shares, up 70 per cent in the last 12 months, were down 30.5 pence at 182 pence at 11.30am.
Cdn Zinc Corp J (CZN)
0.64 ? -0.02 (-3.03%)
Volume: 208,407 @ 3:58:35 PM ET
Bid Ask Day's Range
0.64 0.65 0.64 - 0.66
TSE:CZN Detailed Quote
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Canadian Zinc Corporation -
The Hunt brothers dream - Silver Mine -
http://www.canadianzinc.com/content/investor/press/western-standard.php
Video Gallery
http://www.canadianzinc.com/content/gallery/video/
http://www.canadianzinc.com
Canadian Zinc Corporation is a development stage company listed on the Toronto Stock Exchange under the symbol "CZN"
and in the United States on the OTCBB under the symbol "CZICF" and is engaged in the business of exploration and
development of natural resource properties.
The Company's principle focus is its efforts to advance the Prairie Creek Mine, a zinc/lead/silver property located in the Northwest Territories of Canada, towards production. The Prairie Creek Mine is partially developed with an existing 1,000 tonne per day mill and related infrastructure. In 2006 and 2007, the Company carried out major programs at Prairie Creek including driving a new internal decline approximately 600 metres long which enabled a significant underground exploration and infill drilling program to occur. A total of $18.7 million was invested in Prairie Creek in 2006 and 2007.
www.canadianzinc.com/content/mine/
www.canadianzinc.com/content/gallery/video/
www.vatukoulagoldmines.com/index.asp
CZN now holds approximately 548,000,000 shares, or 20% of the issued shares of VGM. (See Canadian Zinc Press Release dated June 10, 2009)
http://www.vatukoulagoldmines.com/Investor_Shareprice.html
www.ivarkreuger.com/metalcharts.htm
Ps.ice to Readers: The CZN website and the information on it are owned by Canadian Zinc Corporation and may be changed or updated from time to time without notice. By accessing the website and the information provided, you agree to hold Canadian Zinc Corporation, and their respective officers, employees and agents harmless against any claims for damages or cost or any loss of any kind arising out of the access to or use of this website or any information contained in or obtained through this website.
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission 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 on this website, such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml
What if you invest in Can Zinc Corporation and it become a LION -
ex. in 1975?..
take a look at the past gains in a few juniors:
$GOLD INDX Chart TA TI P&F Alert Bullish Price Objective $2,040.0 / oz
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