Canadian Zinc Announces $2 Million Private Placement

Canadian Zinc (TSX:CXN) has announced that it plans to proceed with a $2 m private placement.

The press release is quoted as saying:

The proceeds from the Offering will be used for exploration on the Prairie Creek Project and specifically to continue a deep-hole diamond drill exploration program, about 1.5 kilometres north of the most northern drill hole that defines the present mineral resource, where a total of 2700 metres of drilling was recently completed in three holes during the summer of 2010 to test for possible continuation at depth of similar mineralization within the same geological structure as at the Prairie Creek Minete Placement

To access the full press release, click here.