Vatukoula Gold Mines Interim Operational and Exploration Update

Canadian Zinc Corporation (TSX:CZN)(OTCBB:CZICF) reported that Vatukoula Gold Mines Plc has reported an interim operational and exploration update from its 100% owned Vatukoula Gold Mine in Fiji and has raised £7.4 million through the placement of 400 million new ordinary shares at a price of 1.85 pence per share.

The press release is quoted as saying:

Vatukoula announced that gold recoveries for the fourth quarter has already reached 12,940 ounces, bringing the total of gold recovered year to date, to 51,491 ounces. This is higher than VGM’s revised 50,000 ounce forecast for the year ended August 2010, with five weeks of forward production still to be added to the 51,491 ounces produced in the year to date.

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Click here to access Vatukoula Gold Mines Corporate Site