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Canadian Zinc Corp

Publié le 28 septembre 2017

Announces Feasibility Study Results for Prairie Creek Mine

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Mots clés associés :   9/11 | Canada | Cash | Change | Diesel | Dollar | Exploration | K Street | Mine | Report | Zinc |

NEWS RELEASE

 For Immediate Release
Canadian Zinc Corporation
Suite 1710 - 650 West Georgia Street, Vancouver, BC, V6B 4N9

Tel: (604) 688-2001
Fax: (604) 688-2043
Toll free: 1-866-688-2001


invest@canadianzinc.com
www.canadianzinc.com

Stock Exchange: TSX
Stock Symbol: CZN
Stock Quote: Click Here

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CANADIAN ZINC ANNOUNCES FEASIBILITY STUDY RESULTS FOR PRAIRIE CREEK MINE

  • Higher Mining Rate, 25% Increase in Mill Throughput, Higher Metal Production
  • Lower Operating Costs, Lower Treatment Charges, Moderate Increase in Capital Cost
  • Integrated LNG supplied by Northwest Territories Power Corporation with All Season Road
  • $3 Billion in Net Revenue and $1.3 Billion in EBITDA over Initial 15 Year Mine Life
  • Pre-tax NPV(8%) $344 million, IRR 24%, Post-tax NPV $188 Million, IRR 18%

Vancouver, British Columbia, September 28, 2017 - Canadian Zinc Corporation (TSX: CZN; OTCQB: CZICF) is pleased to report positive preliminary results for the Feasibility Study recently completed on its Prairie Creek Zinc-Lead-Silver Project in the Northwest Territories, Canada.

The preliminary results of the Feasibility Study (�?o2017 FS�?�) indicate notable improvements compared to the Preliminary Feasibility Study completed in 2016 (�?o2016 PFS�?�) and confirm that the Prairie Creek Mine can support a significant increase in the mining rate and mill throughput that will enable production of higher quantities of zinc, lead and silver, and at lower operating cost as compared to the mine plan presented in the 2016 PFS.

The 2017 FS was completed by AMC Mining Consultants (Canada) Inc (�?oAMC�?�) and Ausenco Engineering Canada Inc. (�?oAusenco�?�), with input from Allnorth Consultants Limited, F. Wright Consulting Inc., G. Mosher of Global Mineral Resource Services Ltd. and HCF International Advisers Limited (�?oHCF�?�).

Feasibility Study Highlights

Optimization work completed as part of the 2017 FS has led to improvements in many aspects of the Prairie Creek Mine with only a modest increase in the capital cost. Among these are:

  • Increased mining rate (+18.5% to 1,600 tonnes per day).
  • Increased mill throughput after DMS processing (+25% to 1,200 tonnes per day).
  • Lower operating cost (-2.6% to $223 per tonne mined, including transport).
  • Increased Mineral Reserve tonnage (+6.2% to 8.1 million tonnes).

The 2017 FS Mine Plan covers a 15 year LOM from mill start-up with a particular focus on optimizing the LOM grade profile. During the first 10 years of production, the expanded mill throughput results in the following as compared to the 2016 PFS:

  • Higher average annual metal production (zinc 95M lbs. and lead 105M lbs.).
  • Average annual production of lead concentrates up by 16,000 tonnes to 71,600 tonnes per year, an increase of about 30%, while the grade of lead in the lead concentrates is also improved.
  • Average annual total contained lead in both zinc and lead concentrates is 105 million pounds per year, an increase of 23 million pounds, while the average annual production of silver is also increased 25% to 2.1 million ounces per year.
  • Average annual total contained zinc in both zinc and lead concentrates increased by approximately 7% from 82 million pounds to 88 million pounds per year.

The 2017 FS indicates many financial improvements from the 2016 PFS:

  • Cumulative net revenue over the life of the mine increased by $325 million to $3 billion and cumulative undiscounted cash flow, pre-tax, up $190 million to $900 million, an increase of over 30%, at base case metal prices of zinc=US$1.10/lb., lead=US$1.00/lb., and silver=US$19.00/oz.
  • The pre-tax NPV, discounted at 8%, increased 21% to $344 million, with an IRR of 23.8%, while the NPV post-tax and royalties, discounted at 8%, increased 22% to $188 million, with an IRR of 18.4%.
  • Capital cost increased by $35 million (14%) to $279 million, including contingency, primarily because of the expansion in mine and mill throughput and accelerated mine development.
  • The post-tax payback period was reduced by five months to 4.6 years from mill start-up.

Management Commentary

�?oWe are very pleased with the results of the 2017 Feasibility Study which is a major milestone for the development of the Prairie Creek Mine and confirms strong project economics and significant potential value for our shareholders�?�, stated John F. Kearney, Chairman and CEO of Canadian Zinc.

�?oThe positive results, showing many improvements from the 2016 PFS, demonstrate the potential of this world-class asset and confirm that the development of the Prairie Creek Mine will provide material benefits to local communities and to the economy of the Northwest Territories for many years,�?� stated Mr. Kearney.

�?oAs part of the 2017 Feasibility Study, a number of optimization programs recommended in earlier Preliminary Feasibility Studies were completed which had a beneficial impact on the Prairie Creek Project, and demonstrated that the capacity of the mine can be increased from 1,350 to 1,600 tonnes per day and the mill from 900 to 1,200 tonnes per day, producing more metal at a faster rate than projected in the 2016 PFS�?�, stated Alan Taylor, COO of Canadian Zinc.

�?oWhile the increased throughput shortens the previously projected initial mine life by almost two years, this study is based on mining the currently defined Proven and Probable Reserves only, and we are confident that conversion of the additional Inferred Resource will substantially increase the initial 15 year mine life�?�, stated Mr. Taylor.

�?oThe optimization work and focus on technical improvements resulted in higher metal production than originally forecast and contributed to further de-risking the project. The optimized mine plan, combined with an increase in mill throughput, a simple and effective flow sheet, and new reagent scheme will significantly increase metal production and lower operating costs�?�, added Mr. Taylor..

�?oCanadian Zinc has to date invested almost $85 million in the exploration, development, environmental assessment and permitting of the Prairie Creek Mine and has significantly improved and de-risked the project. With the recent recommendation from the Mackenzie Valley Environmental Impact Review Board for approval of the all season road, and with this robust feasibility study in hand, Canadian Zinc will now concentrate efforts on financing for the development and construction of the Prairie Creek Mine�?�,stated Mr. Kearney.

�?oWe are currently engaged in advanced discussions with several finance providers and ongoing engineering and early project work activities are already under way to facilitate a rapid start to construction. The development and construction period is estimated at 2.5 years and, subject to completion of financing, the start-up of mine production is projected for mid-2020�?�, added Mr. Kearney.

Highlights of the 2017 FS
Mine and Mill Parameters Concentrates
Type 10 yr W. Avg. Tonnes Average Grade Payability
Total ore mined (million tonnes) 8.07 Zinc concentrate 64,800 Zinc: 59% Zinc: 85%
Mining rate (tonnes/day) 1,600 Silver: 136 g/t3 Silver: 70%
Milling rate (tonnes/day) post-DMS 1,200 Lead concentrate 71,600 Lead: 62% Lead: 95%
LOM (years) 15 Silver: 800 g/t Silver: 95%
Mine and Mill Statistics
Metal 10 yr Ore Grade (Weighted Average) Ore Grade LOM (Weighted Avg.) Mill Recoveries LOM (Weighted Average) 10 yr Average Annual Contained Metal
Zinc 8.50% 8.70% 83% 95M lbs4
Lead 9.30% 8.10% 88% 105M lbs4
Silver 139 g/t 124 g/t 87% 2.1M oz4
Project Assumptions Base Case
Zinc price US$1.10/lb Treatment Charges Exchange Rate $1.25CDN:$1:00US
Lead price US$1.00/lb US$172/tonne Zn Con Discount Rate 8%
Silver price US$19.00/oz US$130/tonne Pb Con
Operating and Capital Costs
Operating Costs2 LOM $/t ore mined Capital Costs $M
Mining 58 Pre-production capital 253
Processing 47 Contingency 26
Site Services 19 Total Pre-production Capital 279
G&A 30 Sustaining Capital 117
Total On-site Costs 154 Working Capital 36
Transportation1 69
Total Operating Costs2 223
1 Includes truck, rail, handling and ocean shipping
2 Does not include treatment, refining charges, royalty
3 Subject to a deduction of 3 oz. per tonne of concentrate
4 Total metal contained in both lead and zinc concentrates
Economic Results (LOM) Pre-tax Post-tax
Cash Flow Undiscounted ($M) 899 562
NPV @ 8% ($M) 344 188
NPV @ 5% ($M) 497 291
IFF (%) 23.8 18.4
Payback period (years from first revenue) 4.4 4.6
Average annual EBITDA ($M) 81

Financial Analysis Summary

CZN has retained HCF as its adviser in securing debt financing for the construction of the Prairie Creek Mine. HCF has developed a comprehensive cash flow financial model that is used in the 2017 FS to generate economic and financial data for the proposed mining project.

The 2017 FS indicates a base case Pre-Tax Net Present Value (�?oNPV�?�) of $344 million using an 8% discount rate, with an Internal Rate of Return (�?oIRR�?�) of 23.8% and a post-tax NPV of $188 million with a post-tax IRR of 18.4%. The Base Case metal price assumptions used in the model are: Zn US$1.10/lb., Pb US$1.00/lb., Ag US$19.00/oz.., with a foreign exchange rate of CA$1.25=US$1.00.

The pre-tax and post-tax net present values, at 5% and 8% discount rates, and internal rates of return, are illustrated in the table below, at a Canadian/US dollar exchange rate of CA$1.25=US$1.00, except where noted. The table also demonstrates the sensitivities of the Prairie Creek Project to zinc, lead and silver prices and to the Canadian/US dollar exchange rate.

Economic Sensitivities of the Prairie Creek Project
Metal Prices Pre-Tax Post-Tax1
Zinc/Lead
US$/lb
Silver
US$/oz
Undiscounted
$M
NPV (5%)
$M
NPV (8%)
$M
IRR
%
Undiscounted
$M
NPV (5%)
$M
NPV (8%)
$M
IRR
%
0.80 17.00 139 10 (39) 5.5 75 (29) (68) 3.3
0.90 18.00 452 211 120 14.4 282 109 43 10.6
1.10/1.00 19.00 899 497 344 23.8 562 291 188 18.4
1.20/1.00 19.00 1,033 582 410 26.2 644 344 230 20.4
1.10 20.00 1,077 614 437 27.3 671 364 247 21.3
1.20 21.00 1,390 815 596 32.7 863 489 346 25.7
1.30 22.00 1,703 1,017 755 37.7 1,053 612 444 29.8
1.10/1.00 2 19.00 2 1,208 696 501 29.5 752 416 287 23.1
1.20/1.00 2 19.00 2 1,355 789 574 31.9 842 473 332 25.0
1. Post-tax results include all taxes, royalties, aboriginal participation costs and the Sandstorm 1.2% NSR.
2. Foreign exchange assumed to be CA$1.375:US$1.00 on these lines.

Using the base case metal prices and exchange rate of CA$1.35=US$1.00 would increase the pre-tax NPV 8% to $500 million and the IRR to 29.5%. Using a zinc price of US$1.20 per lb., with all other base case inputs and a foreign exchange rate of CA$1.25=US$1.00 would increase the pre-tax NPV 8% to $410 million and the IRR to 26.2%. Using a zinc price of US$1.20 per lb., with all other base case inputs and a foreign exchange rate of CA$1.375=US$1.00 would increase the pre-tax NPV 8% to $574 million and the IRR to 31.9%.

During the first 10 full years of concentrate production the 2017 FS forecasts average annual production of approximately 65,000 tonnes of zinc concentrate and 72,000 tonnes of lead concentrate, containing an average of approximately 95 million pounds of zinc, 105 million pounds of lead and 2.1 million ounces of silver.

The 2017 FS indicates average annual earnings before interest, taxes, depreciation and amortization (�?oEBITDA�?�) during the first 10 full years of $111 million per year and cumulative EBITDA of $1,294 million over the projected LOM of 15 years, using base case metal price forecasts.

The Economic Model used in the 2017 FS has been prepared assuming average blended indicative treatment charges of US$172 per tonne for zinc sulphide concentrates and US$130 per tonne for lead concentrates, both substantially higher than the current spot treatment charges, with industry standard penalties, including mercury penalties of US$1.75 for each 100 ppm above 100 ppm per tonne of concentrate.

Key Variances Between 2017 FS and 2016 PFS
2017 FS Base 2016 PFS Variance
Economic Valuations
Pre-Tax NPV (CAD $M) 344.5 284.3 60.2
Pre-Tax IRR (%) 23.8 22.5 1.3
Pre-Tax Payback Period (years) 4.4 4.0 0.4
Post-Tax NPV (CAD $M) 188.3 154.8 33.5
Post-Tax IRR (%) 18.4 17.9 0.5
Post-Tax Payback Period (years) 4.6 5.0 (0.4)
       
Key Assumptions Base Case
Discount rate (%) 8.0 8.0 -
Lead (US$/lb) 1.00 1.00 -
Silver (US$/oz) 19.00 19.00 -
Zinc (US$/lb) 1.10 1.00 0.10
Lead treatment charge - $/tonne 130.00 195.00 (65.00)
Zinc treatment charge - $/tonne 172.00 212.00 (40.00)
Exchange rate (US$/CAD$) 1.25 1.25 -
 
Life of Mine Inputs and Outputs (CAD $M)
Capital expenditures 278.9 243.6 35.3
Sustaining capital costs 117.0 70.4 46.6
Gross revenue 3,977.9 3,733.3 244.6
Smelter costs 886.9 968.2 (81.3)
Net revenue 3,091.0 2,765.1 325.9
Operating costs including transportation 1,796.6 1,740.7 55.9
Pre-tax cash flow 898.5 710.4 188.1
Taxes and royalties 336.1 279.4 56.7
Net project cash flow after-tax and royalties 562.4 431.0 131.4
Working capital 36.1 32.8 3.3
 
Life of Mine Production Statistics
Ore Mined - kt 8,071.5 7,603.6 467.9
Lead con - dmkt 924.2 865.9 58.3
Zinc con - dmkt 975.4 957.9 17.5
 
Life of Mine Metrics (CAD $/tonne ore/ average)
Gross revenue 492.83 490.99 1.84
Mining costs 58.23 78.58 (20.35)
Milling and processing 46.76 40.75 6.01
General and administrative 30.32 22.58 7.74
Site services 18.55 21.96 (3.41)
Total operating costs 153.86 163.87 (10.01)
Transportation costs 68.73 65.05 3.68
Smelter costs 109.88 127.34 (17.46)
Operating profit 160.36 134.73 25.63
Taxes and royalties 41.64 36.75 4.89
Income before depreciation and amortization 118.72 97.98 20.74

Pre-production Capital Costs, including provision for a new all season road, are estimated at $253 million, with a contingency of $26 million for a total of $279 million, and with post-tax payback of 4.6 years from commencement of concentrate production.

The $35 million increase in Pre-production capital costs compared to the 2016 PFS is largely attributable to a longer construction period, earlier mine dewatering, earlier and larger ramp and mine development, new paste stockpile building, additional mill equipment, extended mill building for lead oxide circuit, with EPCM and other timing differences.

The $46 million increase in sustaining capital costs is largely attributable to increased mine development, purchase of contractor handover mining equipment, maintenance of all season road and timing differences.

Operational Differences Between 2017 FS and 2016 PFS
Discipline Detail 2017 FS 2016 PFS
MINING Mineral Reserve (t) 8,071,463 7,603,590
Underground development (m) 52,012 49,362
Mine dewatering Dewatering starts prior to mining Dewatering as mining progresses
Access to sulphide ore Higher sulphide in early feed Higher oxide in early feed
Annual Rate (t/yr) 584,000 470,000
LOM (years) 14.5 16.0
PROCESSING Milling rate (post-DMS) tpd 1,200 960
Nominal Rate DMS Plant (t/h) 67 58
Process grinding 80% passing 156 µm 80% passing 80 µm
Pb flotation Grind/regrind mill Grind mill
Total LOM Concentrate Production (dmt) 1,899,544 1,823,787
SUPPORT
SERVICES
Energy supply LNG/diesel Diesel
Power Running Load (MW) 6.5 5.3
Power Scheme Turnkey Build/operate
Power cost ($/kWh) 0.25 0.21
Construction Schedule (years) 2.5 3.0
TRANSPORT Transport Logistics 20t containers site to port Bulk truck, transfer to rail
Load-out facilities Containers and small facility Bagging and large warehouse
Permitting EA approved from MVRB EA in process
Road Construction schedule (years) 2.5 3.0

Dual LNG/Diesel Power Generation

Development of the all season road, along with local LNG production facilities, has enabled the use of LNG as an alternative energy source. This in turn has reduced the reliance on diesel fuel thereby reducing environmental impacts.

CZN has a memorandum of understanding with the Northwest Territories Power Corporation to examine the supply of electrical power for the development and operation of the Prairie Creek Mine.

The 2017 Feasibility Study incorporates a non-binding indicative proposal from Northwest Territories Power Corporation to supply turnkey type power generation utilizing four new 2.77 MW dual fuel LNG/diesel powered generator units that will provide power and heat for the site.

The power generator units will be located within the existing Mill powerhouse. Maximum electrical running load for the site is estimated at 6.5 MW. These generators will be outfitted with heat recovery systems to maximize energy efficiency. The waste heat from the generators will be used to heat the surface facilities. Further heat for underground and accommodations will be generated by LNG based furnaces.

Mineral Reserve Estimate

The 2017 FS has a new Mineral Reserve estimate of 8.1 million tonnes of Proven and Probable Reserves at a combined grade of 16.75% Pb and Zn plus 124 g/t Ag, which represents a 6% increase in Reserve tonnage compared to the 2016 PFS.

The increase is due to marginally lower Zinc equivalent cutoff grades, reflecting the final 2016 PFS operating cost estimate, a small increase in projected Zn prices and further optimization of the stoping design. The 2017 Mineral Reserves have slightly lower average metal grades than those estimated in the 2016 PFS, but increased overall metal content. The estimation of Mineral Reserves by AMC is shown below.

August 2017 Mineral Reserves, Prairie Creek Mine
Mineral Zone Classification Tonnes (t) Silver (g/t) Lead (%) Zinc (%) ZnEq (%)
Main Quartz Vein (MQV) Proven 1,524,171 161.43 8.90 10.22 26.84
Probable 4,190,187 144.76 9.96 8.20 25.70
Total 5,714,358 149.21 9.67 8.74 26.00
Stockwork (STK) Proven 188,173 108.19 4.84 11.56 21.22
Probable 1,188,366 63.81 3.54 6.86 13.46
Total 1,376,539 69.88 3.72 7.50 14.52
Stratabound (SMS) Proven �?" �?" �?" �?" �?"
Probable 980,566 54.90 5.06 9.64 17.97
Total 980,566 54.90 5.06 9.64 17.97
TOTAL Proven 1,712,344 155.58 8.45 10.36 26.22
Probable 6,359,119 115.78 8.00 8.17 22.22
Total 8,071,463 124.22 8.10 8.64 23.07
The Mineral Reserves are as of August 02, 2017, and based on a design cut-off grade of 11% ZnEq for longhole open stoping (�?oLHOS�?�), 11% ZnEq for mechanized drift-and-fill (�?oDAF�?�), an incremental stoping cut-off grade of 10% ZnEq, and 6% ZnEq cut-off grade for development ore. Cut-off grades are based on a zinc metal price of $1.00/lb, recovery of 75% and payable of 85%; a lead metal price of $1.00/lb, recovery of 88% and payable of 95%; and a silver metal price of $18/oz, recovery of 92% and payable of 81%. Exchange rate used is C$1.25= US$1.00. Average planned dilution, unplanned dilution and mining recovery factors of 13%, 11% and 95%, respectively, for LHOS; and 18%, 6% and 98%, respectively, for DAF are assumed.

The August 2017 Prairie Creek Mineral Reserve estimate was prepared by H. A. Smith, P. Eng., Qualified Person (�?oQP�?�), as defined by National Instrument 43-101 (�?oNI 43-101�?�) of AMC Mining Consultants (Canada) Ltd.

These Mineral Reserves are based upon a Measured and Indicated Resource of 8.7 million tonnes grading 9.5% Zn; 8.9% Pb and 136 g/t Ag, and represent an initial mine life of 15 years.

Prairie Creek also hosts an additional Inferred Mineral Resource of 7.0 million tonnes grading 11.3% Zn, 7.7% Pb, and 166 g/t Ag, which has the potential, through further exploration and development, to be upgraded to Measured or Indicated Mineral Resources and increase the initial 15 year mine life.

Capital Cost Estimates

The general breakdown of the Pre-Production Capital Cost estimate for the Prairie Creek Project is indicated in the following table:

Capital Cost Estimate �?" Prairie Creek Mine
Description (Costs in $M) Project Year Total Cost
1 2 3
Mine development 2.6 13.6 21.5 37.7
Site preparation 4.3 12.5 2.6 19.4
Mill process plant 9.0 18.9 3.2 31.1
Paste tailings plant and process 2.9 16.6 3.4 22.9
Indirects including EPCM 10.9 7.8 5.1 23.8
Other site infrastructure 6.7 7.7 1.5 15.9
All season road 13.0 41.6 13.9 68.5
Owner�?Ts costs 6.8 15.3 11.5 33.6
Total (excluding contingency) 56.2 134.0 62.7 252.9
Contingency 5.5 12.3 8.2 26.0
Total Pre-Production Capital 61.7 146.3 70.9 278.9

Pre-Production Capital Cost refers to capital costs incurred until the first processing of mined ore, and has been estimated at a total of $252.9 million, excluding contingency, and $278.9 million including a contingency of $26.0 million.

Based on the proposals received, several capital items will be supplied on a lease-to-purchase basis, including the accommodation camp, paste plant, flotation cells and thickeners. The lease costs of such items incurred during the pre-production period are included in Pre-production Capital costs, and lease costs incurred after production start-up are included in Sustaining Capital costs.

Contingency for the process plant and site infrastructure portion was estimated using a Monte Carlo simulation model with an overall contingency of 13.2% based on 80% confidence level. Mine development costs are largely based on contractor quotes for the detailed scope of work, but with an overall 13.0% contingency allowance. The all season road estimation used an overall contingency of 8.0% and owner�?Ts costs were assigned a contingency factor of 10.0%. The overall project contingency is 10.3%.

Sustaining capital over the life of the mine has been estimated at $117 million and relates largely to ongoing mine development as the mine is expanded to deeper levels, ongoing maintenance of the all season road and includes leasing costs of capital items in the amount of $11 million.

Working capital required to fund the first six months of mill production has been estimated at $36 million and includes the full operating cost of mining and processing operations.

Operating Cost Estimates

The breakdown of the Operating Cost Estimate for the Prairie Creek Mine, on a Canadian dollar per tonne mined basis, is shown in the following table.

Operating Cost Estimate �?" Prairie Creek Mine
Total Operating Cost ($/t mined)
Mining 58.23
Milling/Processing 46.76
General and Administrative 30.32
Site Services 18.55
Sub-total 153.86
Transportation1 68.73
Total 222.59
1. Includes truck/rail/handling/shipping

Mining operating costs for the first two years of operation are largely based on contractor quotes. Operating cost estimates for mining beyond the contractor period have been developed from first principles and using direct supplier quotes.

The mining contractor quotes for the first two years of operation, based on a detailed scope of work and schedule, provide a high level of confidence in the estimated mining costs. The indicative proposal from the Northwest Territories Power Corporation to supply turnkey type power generation provides further support in the key area of power costs.

Qualified Persons and Technical Report

This news release has been reviewed and approved by Alan Taylor, P.Geo., COO & VP Exploration, who participated in the preparation of the Feasibility Study and is a Non-Independent QP under National Instrument 43-101 (�?oNI 43-101�?�) for Canadian Zinc.

The following Qualified Persons, who also participated in the preparation of the 2017 Feasibility Study have reviewed and approved the content of this news release as it pertains to their areas of expertise and project responsibility.

H. A. Smith, P.Eng.          AMC Mining Consultants (Canada) Ltd.
L. P. Staples, P.Eng Ausenco Engineering Canada Inc.
Scott Elfen, P.Eng. Ausenco Engineering Canada Inc.
G. Z. Mosher, P.Geo Global Mineral Resource Services Ltd.
F. Wright, P.Eng. F. Wright Consulting Inc.
Don Williams, P.Eng. Allnorth Consultants Limited

A Technical Report in support of the 2017 Feasibility Study prepared in accordance with National Instrument 43-101 Standards for Disclosure for Mineral Projects (�?oNI 43-101�?�) will be filed on SEDAR within 45 days of this news release.

Cautionary Statements

The summary results of the 2017 Feasibility Study reported in this news release are preliminary. For the full details and further information with respect to the key assumptions, parameters, and risks associated with the results of the feasibility study the mineral reserve and resource estimates included therein, and other technical information, please refer to the complete Technical Report to be made available on SEDAR.

The EBITDA projections summarized in this news release are not measures recognized under Canadian generally accepted accounting principles (�?oGAAP�?�) and do not have any standardized meanings prescribed by GAAP.

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.

For further information contact:

John F. Kearney
Chairman & Chief Executive
(
416) 362-6686
Suite 1805
55 University Avenue

Toronto, ON M5J 2H7
Alan B. Taylor
Vice President Exploration
& Chief Operating Officer
(
604) 688-2001
Suite 1710 - 650 West Georgia Street, Vancouver, BC V6B 4N9
Tollfree:1-866-688-2001
Steve Dawson
Vice President
Corporate Development
(416) 203-1418

Suite 1805
55 University Avenue
Toronto, ON M5J 2H7

E-mail: invest@canadianzinc.com   Website: www.canadianzinc.com

Conference Call/Webcast
Canadian Zinc will host a conference call/webcast for analysts and investors on Monday, October 2, 2017, beginning at 11:00 AM Eastern Time, to discuss the results of the 2017 Feasibility Study for the Prairie Creek Mine.

Shareholders and other interested parties can access the conference call by dialing the following numbers to access the call and providing entering the conference ID 84282162:
Local: Toronto +1 416 764 8688
Local: Vancouver +1 778 383 7413
Toll Free: +1 888 390 0546
Interested parties can view the presentation at the webcast URL:

http://event.on24.com/r.htm?e=1518152&s=1&k=958E52F9C6CABBDC13500646E8B2C0D5

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�?Ts expectations with respect to, among other things, the completion of transactions, the issue of permits, the size and quality of mineral resources and reserves, 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.

Cautionary Note to United States Investors

The United States Securities and Exchange Commission (�?oSEC�?�) 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 �?omeasured,�?� �?oindicated,�?� and �?oinferred�?� �?oresources,�?� which the SEC guidelines prohibit U.S. registered companies from including in their filings with the SEC.

This Press Release includes resource and reserve information that has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of United States securities laws. The terms �?omineral reserve�?�, �?oproven mineral reserve�?� and �?oprobable mineral reserve�?� are Canadian mining terms as defined in accordance with Canadian National Instrument 43-101 �?" Standards of Disclosure for Mineral Projects (�?oNI 43-101�?�) and the Canadian Institute of Mining, Metallurgy and Petroleum (the �?oCIM�?�) - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended. These definitions differ from the definitions in SEC Industry Guide 7 under the United States Securities Act of 1933, as amended (the �?oSecurities Act�?�). Under SEC Industry Guide 7 standards, a �?ofinal�?� or �?obankable�?� feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority.

Statements about the Company�?Ts planned/proposed Prairie Creek Mine operations, which includes future mine grades and recoveries; the Company�?Ts plans for further exploration at the Prairie Creek Mine and other exploration properties; future cost estimates pertaining to further development of the Prairie Creek Mine and items such as long-term environmental reclamation obligations; financings and the expected use of proceeds thereof; the completion of financings and other transactions; the outlook for future prices of zinc, lead and silver; the impact to the Company of future accounting standards and discussion of risks and uncertainties around the Company�?Ts business are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, the Company's actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. You should not place undue reliance on these forward-looking statements.

The Company cautions that the list of factors set forth above is not exhaustive. Some of the risks, uncertainties and other factors which negatively affect the reliability of forward-looking information are discussed in the Company's public filings with the Canadian securities regulatory authorities, including its most recent Annual Report, quarterly reports, material change reports and press releases, and with the United States Securities and Exchange Commission (the �?oSEC�?�). In particular, your attention is directed to the risks detailed therein concerning some of the important risk factors that may affect its business, results of operations and financial conditions. You should carefully consider those risks, in addition to the other information in the Company's filings and the various public disclosures before making any business or investment decisions involving the Company and its securities.

The Company undertakes no obligation to revise or update any forward-looking statement, or any other information contained or referenced in this Press Release to reflect future events and circumstances for any reason, except as required by law. In addition, any forecasts or guidance provided by the Company are based on the beliefs, estimates and opinions of the Company�?Ts management as at the date of this Press Release and, accordingly, they involve a number of risks and uncertainties. Consequently, 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. Except as required by law, the Company undertakes no obligation to update such projections if management�?Ts beliefs, estimates or opinions, or other factors should change.

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Canadian Zinc
Canadian Zinc Corporation
Suite 1710, 650 West Georgia Street
Vancouver, BC V6B 4N9, Canada


Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Canadian Zinc Corp

EN DÉVELOPPEMENT
CODE : CZN.TO
ISIN : CA1368021053
CUSIP : 136802-10-5
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Canadian Zinc est une société développant des projet miniers de zinc et d'argent basée au Canada.

Canadian Zinc est en développement de projets de zinc, d'argent et d'or au Fidji.

Son principal projet en développement est TUVATU au Fidji et son principal projet en exploration est PRAIRIE CREEK au Canada.

Canadian Zinc est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 30,6 millions CA$ (23,2 millions US$, 20,1 millions €).

La valeur de son action a atteint son plus haut niveau récent le 20 février 2004 à 2,04 CA$, et son plus bas niveau récent le 04 décembre 2015 à 0,06 CA$.

Canadian Zinc possède 265 920 016 actions en circulation.

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Rapports annuels de Canadian Zinc Corp
2007 Annual Report
Financements de Canadian Zinc Corp
07/07/2016Announces Closing of $10,200,000 FInancing
01/08/2014CZN Closes $15.8 Million Bought Deal Financing
02/08/2013ANNOUNCES C$4 MILLION BOUGHT DEAL FLOW-THROUGH PRIVATE PLAC...
Nominations de Canadian Zinc Corp
13/06/2013Reports on Election of Directors at Annual General Meeting o...
Rapports Financiers de Canadian Zinc Corp
17/05/2016Reports Financial Results for Q1 2016 and Operations Update
31/03/2016CZN Reports Financial Results for 2015
13/11/2015Reports Results for Third Quarter 2015
14/08/2015Reports Financial Results for Second Quarter 2015
31/03/2015Reports Financial Results for Fiscal 2014
15/11/2013CZN Reports Financial Results for Third Quarter 2013
13/08/2013Reports Financial Results for Second Quarter 2013
13/05/2013Reports Financial Results for First Quarter 2013
20/03/2013REPORTS FINANCIAL RESULTS FOR FISCAL 2012
10/08/2012Reports Financial Results for Second Quarter 2012
16/03/2012Reports Financial Results for Fiscal 2011
17/03/2011Reports Financial Results for Fiscal 2010
17/11/20092009 Third Quarter Results
17/08/2009Reports Second Quarter 2009 Results
16/05/20092009 First Quarter Results
08/08/2008Reports Second Quarter 2008 Results
15/05/2008First Quarter Results
Projets de Canadian Zinc Corp
19/04/2017Drilling Extends Mineralization at Lemarchant, NFLD
15/09/2016CZN Modifies 2016 Preliminary Feasibility Study
21/01/2014Engineering and Procurement Contracts awarded for Prairie Cr...
12/12/2013Assay Results of 2013 Drill Program at South Tally Pond
09/12/2013(Prairie Creek)Assay Results of 2013 Drill Program at Prairie Creek
18/09/2013(Prairie Creek)Granted Water Licence for Prairie Creek Mine
21/06/2013(Prairie Creek)CZN RECEIVES PERMITS FOR OPERATION OF PRAIRIE CREEK MINE
25/03/2013(Prairie Creek)RECEIVES PROPOSED WATER QUALITY CONDITIONS IN DRAFT WATER LI...
18/03/2013(Prairie Creek)Receives Draft Water Licence and Permits for Operation of Pr...
15/01/2013to Drill South Tally Pond Project, Newfoundland
08/01/2013(Prairie Creek)oration: Permitting Progress for Prairie Creek Mine
28/08/2012(Prairie Creek)and Government of Northwest Territories Advance Co-operation...
14/06/2012(Prairie Creek)oration: Minister Confirms Environmental Impact Review Not R...
15/05/2012(Prairie Creek)oration: Additional Permits Approved for Prairie Creek Mine ...
03/10/2011(Prairie Creek)Reports Success With Prairie Creek Exploration Drilling
26/09/2011(Prairie Creek)oration: Environmental Assessment of Prairie Creek Mine Ente...
22/08/2011(Prairie Creek)and Government of the Northwest Territories Sign Socio-Econo...
19/06/2011(Prairie Creek)and Liidlii Kue First Nation Sign Impact and Benefits Agreem...
08/06/2011(Prairie Creek)oration: Exploration Drill Program Commences at Prairie Cree...
28/02/2011(Prairie Creek)oration: Prairie Creek Mine Feasibility Study Commissioned
02/02/2011(Prairie Creek)CZN Obtains Permit Extension
24/01/2011(Prairie Creek)CZN Signs Agreement with NDDB
21/01/2011(Prairie Creek)and Nahanni Butte Dene Band Sign Impact and Benefit Agreemen...
02/09/2009(Tuvatu)Diamond Drilling Commences at Tuvatu
21/07/2009(Prairie Creek)Federal Minister Visits Prairie Creek Mine
05/06/2009(Prairie Creek)Prairie Creek Metallurgical Results
20/05/2009(Tuvatu)Tuvatu gold project option
21/08/2008Permitting Update
22/07/2008(Prairie Creek)Prairie Creek Permitting Update
11/06/2008(Prairie Creek)Submits Permit Applications for Production at the Prairie Cr...
Communiqués de Presse de Canadian Zinc Corp
10/08/2017Reports Financial Results for Q2 and Provides Project Update...
15/07/2016DEH CHO DRUM - July 14, 2016 Public voices thoughts on road
07/07/2016JULY 7, 2016: CANADIAN ZINC ANNOUNCES CLOSING OF $10,200,000...
29/06/2016JUNE 29, 2016: CANADIAN ZINC ANNOUNCES FILING OF FINAL PROSP...
21/06/2016JUNE 21, 2016: CANADIAN ZINC REPORTS ON ANNUAL GENERAL MEETI...
16/06/2016JUNE 16, 2016: CANADIAN ZINC ANNOUNCES C$8.0 MILLION UNDERWR...
16/06/2016JUNE 16, 2016: CANADIAN ZINC PRICES $8-MILLION OVERNIGHT OFF...
15/06/2016JUNE 15, 2016: CANADIAN ZINC ANNOUNCES PUBLIC EQUITY OFFERIN...
30/05/2016Minco Press Release First Quarter 2016 Financial Results
27/05/20162016 First Quarter Managements Discussion and Analysis
24/05/2016MAY 24, 2016: CANADIAN ZINC ANNOUNCES NEW NOMINEES TO BOARD ...
25/01/2016JANUARY 25, 2016: UPDATE ON RESEARCH PROGRAM TO INVESTIGATE ...
25/01/2016Canadian Zinc provides update on research program to investi...
02/12/2015DECEMBER 2, 2015: RESEARCH FUNDING AWARDED TO CANADIAN ZINC ...
02/12/2015Research Funding awarded to Canadian Zinc to investigate cen...
24/10/2015Sandstorm Gold Provides Asset Updates
23/10/2015Sandstorm Gold Provides Asset Updates
17/09/2015SEPTEMBER 17, 2015: MINERAL RESOURCES INCREASE AT PRAIRIE CR...
17/09/2015Canadian Zinc Corporation : Mineral Resources Increase at Pr...
14/08/2015AUGUST 14, 2015: CANADIAN ZINC REPORTS FINANCIAL RESULTS FOR...
14/08/2015Canadian Zinc Reports Financial Results for Second Quarter 2...
11/08/2015AUGUST 11, 2015: UNDERGROUND DRILL PROGRAM AT PRAIRIE CREEK ...
11/08/2015Canadian Zinc Corporation: Underground Drill Program at Prai...
31/03/2015MARCH 31, 2015: CANADIAN ZINC REPORTS FINANCIAL RESULTS FOR ...
31/03/2015Canadian Zinc Reports Financial Results for Fiscal 2014
26/03/2015MARCH 26, 2015: NEW MINERAL RESOURCE UPDATE AT PRAIRIE CREEK...
26/03/2015(Prairie Creek)oration: New Mineral Resource Update at Prairie Creek Mine
29/01/20142014 Winter Drill Program Commences at South Tally Pond, NFL...
31/10/2013Drilling Extends Massive Sulphide Mineralization at Lemarcha...
31/10/2013oration: Drilling Extends Massive Sulphide Mineralization at...
16/09/2013Drill Program Underway for South Tally Pond, Newfoundland
12/09/2013and Messina Minerals Announce Agreement on Proposed Acquisit...
05/09/2013(Prairie Creek)CZN Receives Permits from Parks Canada for Prairie Creek Min...
04/09/2013(Prairie Creek)Commencing New Drill Program at Prairie Creek
20/08/2013Announces Closing of C$4 Million Bought Deal Flow-Through Pr...
01/08/2013announces C$4 million bought deal flow-through private place...
15/07/2013OtcbbJournal.com Sheds Light on Micro-Cap Companies Under th...
08/07/2013oration: Water Board Completes Regulatory Process; Water Lic...
31/05/2013Raises US$10.0 Million
10/05/2013oration: Annual General Meeting and Adoption of Advance Noti...
17/04/2013Completes Winter Drill Program at South Tally Pond
29/01/2013(Prairie Creek)First Operating Permit Received For Prairie Creek Mine:
25/01/2013CZN Submits Final Responses To Water Board Ahead Of Public H...
22/01/2013Submits Final Responses to Water Board Ahead of Public Heari...
15/01/2013to Drill Lemarchant Massive Sulphide Deposit at South Tally ...
31/10/2012Visit Canadian Zinc Booth # 418 Hard Assets San Francisco
24/09/2012Acquires Paragon Minerals Corporation
31/07/2012Announces Merger and Private Placement With Paragon Minerals...
27/06/2012(Prairie Creek)Reports Results of Prairie Creek Preliminary Feasibility Stu...
05/03/2012and Parks Canada Sign Renewed Memorandum of Understanding
29/02/2012Reports Significant Assay Results from Final Holes of 2011 D...
10/02/2012(Prairie Creek)Closes $4 Million Second Tranche of Zhongrun Private Placeme...
06/01/2012Announces the Closing of $5.1 Million Bought Deal Public Off...
30/12/2011Announces Closing of: $2.5 Million Private Placement of Flow...
09/12/2011Receives Environmental Approval
29/08/2011Federal Government Provides $3 Million Funding to Assist in ...
28/06/2011oration: Environmental Assessment Hearings Completed
26/03/2010Developers Assessment Report Filed
30/09/2009Vatukoula Finance - Operations Update
24/06/2009Gold Production Up at Vatukoula Mine
12/06/2009Vatukoula Approves Share Purchase
27/05/2009Normal Course Issuer Bid
24/02/20092009 Convention - Prospectors & Developers Association of Ca...
18/11/2008SULPHIDE VENT COMPLEX/FEEDER ZONE IDENTIFIED AT THE NORTH LE...
04/11/2008Memorandum of Understanding Signed With Nahanni Butte Dene B...
01/08/2008Memorandum Of Understanding Signed With Parks Canada
01/04/20082007 Year End Results
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TORONTO (CZN.TO)FRANKFURT (SRS.F)
0,115+4.55%0,015+25.00%
TORONTO
CA$ 0,115
10/09 16:58 0,010
4,55%
Cours préc. Ouverture
0,110 0,110
Bas haut
0,110 0,115
Année b/h Var. YTD
 -  -
52 sem. b/h var. 52 sem.
- -  0,115 -%
Volume var. 1 mois
122 370 -%
24hGold TrendPower© : 11
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