Canada Zinc Metals Announces Option Deal On Kechika Regional Project – Pie, Cirque East And Yuen Properties
Canada 0-0 Mauritania: Scoring woes continue for Canucks
Statistics Canada reported faster-than-expected job growth last week and said Aug. 30 that consumption led output growth during the second quarter. Its a good sign for the economy and may add to growth in July, said Benjamin Reitzes , a senior economist at BMO Capital Markets in Toronto. The gains in commercial permits still arent sustainable, he said. The building permits figures have been volatile, with a gain of as much as 29 percent and a decline of 23 percent reported since the start of 2011. Dollar gains Canadas dollar extended gains after the report, strengthening 0.3 percent to C$1.0377 per U.S. dollar at 10:07 a.m. in Toronto after touching C$1.0364, the strongest since Aug. 20. One dollar buys 96.37 U.S. cents. Statistics Canada said today that the value of residential building permits rose 4.1 percent in July to C$4.14 billion. Single-family housing permits also rose by 4.1 percent, to C$2.24 billion, while multiple-unit projects such as apartments and condominiums increased 4.2 percent to C$1.89 billion. The housing market gains come as Bank of Canada policy makers predict housing will be a drag on economic growth this year and next, after they warned about overbuilding in cities such as Toronto and Vancouver . The central bank last week kept its key lending rate at 1 percent and said there are signs of a constructive evolution of household imbalances after debt levels reached a record share of income last year.
Log In Vancouver, British Columbia CANADA, Sep 09, 2013 (Filing Services Canada via COMTEX) — Canada Zinc Metals Corp. (CZX – TSX Venture), is pleased to announce that the Company has entered into an option agreement with Teck Resources Limited (“teck” tsx:TCK.B) that will see Teck earn into the Company’s Pie, Cirque East and Yuen properties; three of the 10 regional properties that make up the Kechika Regional Project. The Akie property is the Company’s flagship exploration project and host to the Cardiac Creek SEDEX Zn-Pb-Ag deposit. The Kechika Regional Project, represented by a series of property blocks including Pie and Mt. Alcock, extends northwest from the Akie property for approximately 140 kilometres covering the highly prospective Gunsteel Formation shale. The southernmost project boundary is located approximately 260 kilometres northwest of the town of Mackenzie, in northeastern British Columbia, Canada. Teck Earn-in Agreement Canada Zinc Metals and Teck have entered into an option agreement (the “Agreement”) that would see Teck acquire up to 70% interest in the Pie, Cirque East and the Yuen properties, herein called the “Property”. The deal includes a private placement by Teck for 1,250,000 units of Canada Zinc Metals at a price per unit of $0.40, resulting in a total subscription of $500,000. Each unit shall comprise one common share and one share purchase warrant that will entitle Teck to purchase one additional common share of Canada Zinc Metals within 24 months at a price of $0.40 per share. The Agreement outlines two options (the “Options”) that are subject to certain expenditure requirements, as outlined below: . Under the First Option, Teck can earn an undivided 51% interest in and to the Property by incurring a cumulative aggregate of $3,500,000 in exploration expenditures on the Property on or before September 30, 2017, with $500,000 in exploration expenditures to be completed on or before September 30, 2014. . Under the Second Option, Teck may elect to acquire an additional 19% interest in the Property for a total of 70%, by incurring an additional $5,000,000 in exploration expenditures (for a total aggregate of $8,500,000 in exploration expenditures) on the Property on or before September 30, 2019. Subject to one or more of the Options being exercised, Teck and Canada Zinc Metals will form a Joint Venture to continue with exploration and, if warranted, development of the Property. Thereafter each party will fund its pro-rated share of exploration expenditures on the Property or incur dilution.
It was that kind of game between Canada and Mauritania as the sides played to a scoreless draw in the first of two between the nations on the southeast coast of Spain. Right from the start it was a very physical game as tackles went flying inmany of them were dangerous. It was a friendly but definitely very physical, said Atiba Hutchinson, one of the few veterans on the field and captain for the day. I think we expected that a little bit but maybe at times it was a little out of hand, but no excuses. I think we need to look at the video after the game and we have to play them in another game and its important that we can come back and get a result in the next game. Just 11 minutes in, Kyle Bekker was scythed down under a late challenge after passing the ball and a minute after that, Kyle Porter was hacked down with another late challenge that drew the first of many yellow cards on the evening. New Canadian coach Benito Floro went with a lot of youth as Lars Hirschfeld, Dejan Jakovic, Atiba Hutchinson, and Dwayne De Rosario were really the only veterans in the game that featured two players getting their first caps for Canada and another six who had only earned their first action with the full national team earlier this year. Toronto FC teammates Ashtone Morgan and Jonathan Osorio linked up well to create what was possibly the only shot on goal 21 minutes into the game. Morgan won some space after the referee waved play on after a foul, and he found Osorio on the left who cut in and hit a shot that was tipped over. It was okay because for us this was a training game, Floro said. The only difference between this and training is that the opponent is a national team with a good defensive structure. They made it difficult to develop our attack. But its a good test for us. Porter had a close-range effort blocked just six minutes later, and just past the half-hour mark Bekker crossed into Jakovic who headed the ball over. It took some time for Canada to find its feet and it controlled the ball well to start the second half but as more fouls were called and the substitutes were brought in, it was difficult to find any flow. Its going to be important to get matches against teams like this and we just need to get some wins out of these, said Hutchinson.
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