Canadian Zinc Corporation (TSX:CZN)(OTCBB:CZICF) reported that the company has acquired 3.4 million shares of Zazu Metals Corporation representing approximately 11.1% Zazu’s outstanding shares, for a consideration of $650,000.
The press release is quoted as saying:
The Company’s principal focus is its efforts to advance the Prairie Creek Mine, a zinc/lead/silver property located in the Northwest Territories of Canada, towards production. The Prairie Creek Mine is partially developed with an existing 1,000 tonne per day mill and related infrastructure. The Company also holds a 17% shareholding in Vatukoula Gold Mines plc which owns the operating Vatukoula gold mine in Fiji.
