Zazu Hits High Grade Zinc Intercepts at Start of Summer Program

Tag : air tools & instrument

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/19/08 -- ZazuMetals Corporation ( TSX:ZAZ ) ("Zazu") is pleased to announce the first set of drill resultsfrom the summer development program at the Lik zinc - lead - silverdeposit, 22 km from the Red Dog zinc mine of Teck Cominco ( TSX:TCK-B )( TCK ) ("Teck") in northwestern Alaska.
Zazu is in receipt of the assay results for the first 13 holes ofthe 36 completed so far this season. All of the 13 intersectedmineralization. Two holes have assays where the zinc grade exceeded30% - the maximum value for the assay method. Zazu is stilldrilling, and additional results will be forthcoming. Table 1provides highlights of assay results for these first 13 holes.
Of the 13 holes, 11 are in south west corner of the Lik Southdeposit. The two highest grading holes (157 and 159) are locatedtowards the center of Lik South, where the next stage of thedrilling program is taking place. A map of the drill hole locationsis available at http://www.zazumetals.com/main/?proposedWorkProgram .
During the 2008 field season, Zazu intends to:
1. Establish a fully compliant NI 43-101 resource for the Lik Southdeposit based on 26,000 meters of drilling already completed and upto 10,000 meters planned for 2008.
2. Complete geophysical programs to identify potential extensionsto the resource, especially in the North Lik area (field work hasnow been completed; analysis is now pending).
3. Complete initial metallurgical testing (done; results announcedJune 4th, 2008) and commence design of a preliminary flow sheet.
4. Continue and expand environmental studies by Travis PetersonEnvironmental to support future mine permitting processes.
To achieve these goals Zazu has 2 drill rigs operated by 3 crews.The drill program is managed by Joe Britton, Zazu's Vice Presidentof Exploration, and supervised by Neil N. Gow, P.Geo., an AssociateConsulting Geologist with Scott Wilson RPA of Toronto, Ontario. Themajority of the drill holes are in-fill, with some step out holesand testing at depth in the southern portion of the Lik deposit.
In 2009, Zazu plans to complement this year's work with bothregional and localized IP surveys to identify further explorationtargets. To date, only a relatively small portion of the Likproperty has been subject to detailed exploration.
The historical mineral resource at the Lik deposit is 26.7 mmtonnes grading 9.16% zinc, 3.15% lead and 49 g/t silverrepresenting one of the largest undeveloped zinc - lead deposits inthe world. These historical estimates predate NI 43-101 are thoughtto be reliable at current drilling density and are considered to berelevant as they provide an estimate of the approximate size of theLIK deposit. They should not be relied upon until further work iscarried out.
Teck is a 50% joint venture partner in the Lik deposit, howeverZazu has the exclusive right to obtain 80% of the property bymeeting certain spending commitments by 2018.
This news release was reviewed by Mr. Neil N. Gow, P.Geo., anAssociate Consulting Geologist with Scott Wilson RPA, who is aqualified person as defined by National Instrument 43-101.
About Zazu Metals Corporation
Zazu is a Canadian-based exploration company focused on acquiringand developing base metal properties in North America. Zazu'sprincipal asset is its 50% joint venture interest with Teck Comincoin the Lik zinc - lead - silver deposit in north western Alaska. Asof June 30th, 2008, Zazu had over $8.0 million in cash and short-term investments; more than sufficient to fund the 2008 workprogram. Additional information about Zazu is available on itswebsite at www.zazumetals.com .
Additional information about the property is on the Teck website(teckcominco.com). Zazu is not responsible for the content,accuracy or timeliness of material contained on the Teck Comincowebsite.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael A. Steeves, President and COO
Some of the statements contained in this news release areforward-looking statements, such as estimates and statements thatdescribe the Company's future plans, objectives or goals, includingwords to the effect that the Company or management expects a statedcondition or result to occur. Since forward-looking statementsaddress future events and conditions, by their very nature, theyinvolve inherent risks and uncertainties. Actual results in eachcase could differ materially from those currently anticipated insuch statements.