Jul 30, 2009 Update on Zazu's 3.3 Bn Lbs Indicated Zinc Resource Lik South Deposit Zazu Metals Corporation (TSX: ZAZ, "Zazu") is pleased to provide an early season update on the Lik zinc - lead - silver deposit, located 22km from the Red Dog zinc mine of Teck ("Teck") in northwestern Alaska. Lik is one of the largest undeveloped zinc deposits in the western world. Zazu took Lik from exploration into the early development stage last year and in May announced the updated resource estimate completed by Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA). Their estimate of Lik South is an Indicated Resource of 20.66mm short ton at 8.08% zinc, 2.62% lead and 1.54 oz/ton silver plus an Inferred Resource of 1.36 mm short tons at 6.80% zinc, 2.12% lead and 1.02 oz/ton silver, at a 5% cut off. Lik North is an additional 5.71mm short ton at 9.65% zinc, 3.25% lead and 1.48 oz/ ton silver of Inferred Resource at a 7% cut off grade. Zazu then identified the following goals for the remainder of 2009:
All items are currently either on or ahead of schedule. Progress made this year also allowed Zazu to bring 3 additional goals forward from the 2010 season. These are:
Zazu will continue to keep investors updated as to progress made on the deposit. Michael A. Steeves, President and COO of Zazu Metals Corporation announced his intention to retire effective August 31, 2009 in order to attend to personal affairs. Mr. Steeves will remain a director of the company. Gil Atzmon, Chairman and CEO, will assume the title of President. Zazu is in the enviable position of having a limited number of shares outstanding, no debt, and a strong treasury. Teck is a 50% joint venture partner in the Lik deposit, however Zazu has the exclusive right to obtain 80% of the property by meeting certain spending commitments by 2018. The part of this news release pertaining to the Mineral Resource estimate was reviewed by Dr. William E. Roscoe, P.Eng., a Principal Consulting Geologist with Scott Wilson RPA, who is a qualified person as defined by National Instrument 43-101. About Zazu Metals Corporation Zazu is a Canadian-based exploration company focused on acquiring and developing base metal properties in North America. Zazu's principal asset is its 50% joint venture interest with Teck Cominco in the Lik zinc -- lead - silver deposit in northwestern Alaska. Additional information about Zazu is available on its website at www.zazumetals.com. Additional information about the property is on the Teck website (www.teck.com). Zazu is not responsible for the content, accuracy or timeliness of material contained on the Teck website. ON BEHALF OF THE BOARD OF DIRECTORS Gil Atzmon, Chairman and CEO | |
You can view the Next News Releases item: Wed Dec 9, 2009, Alaska State Authority initiates due diligence on road and port expansion for Zazu's Lik deposit You can view the Previous News Releases item: Thu May 28, 2009, Zazu's Lik South: Over 3.3Bn Lbs of Indicated Zinc Resource You can return to the main News Releases page, or press the Back button on your browser. |