Canadian Zinc Corporation (TSX:CZN)(OTCBB:CZICF) has reported the Mackenzie Valley Land and Water Board has granted a two year extension to Canadian Zinc's Land Use Permit for mineral exploration on the Prairie Creek Property in the Northwest Territories.
The Land Use Permit (MV2004C0030) was originally issued in May 2006 for a term of five years, entitles the Company to conduct diamond drilling exploration activities throughout the 3,400 hectare Prairie Creek Property, along with utilizing support services from the existing Prairie Creek mine site. A number of diamond drilling exploration campaigns have been completed under this permit, the most recent being the 2010 exploration program. The Company applied for an extension and has been granted a two year renewal of the Permit, which now expires May 10, 2013.
Renewal of this Land Use Permit enables the Company to move ahead with its drilling exploration activities. The 2011 program is designed to further test the area located 1.5 kilometres north of the last drill hole that is within the defined mineral resource, where the host geology is believed to extend deeper to the north.
The Company raised $2.5 million in Flow-Through financing, as announced on December 23, 2010, for the planned drilling exploration activities at Prairie Creek. It is expected that drilling will recommence when the site opens this spring.
Source: Canadian Zinc Corporation