Zazu Intersects 26.8 m Grading 27% Zinc + Lead at Lik: Financial News

Zazu Intersects 26.8 m Grading 27% Zinc + Lead at Lik
Wednesday September 24, 2008 3:58 pm ET

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Sep 24, 2008 -- Zazu Metals Corporation (Toronto:ZAZ.TO - News) ("Zazu") is pleased to announce further results from the summer development program at the Lik zinc-lead-silver deposit, 22 km from the Red Dog zinc mine of Teck Cominco ("Teck") in northwestern Alaska.

All six holes intersected mineralization. Drill hole 161 intersected 26.82 m grading a combined 27% zinc + lead only 13 m from surface. Three holes contained intercepts greater than 50 m grading over 5.0% zinc + lead, and four contained intercepts greater than 25 m. These results substantiate an apparent trend of higher grade and longer widths toward the Main Break Fault and the Lik North deposit. Drilling continues toward these areas.

Table 1 provides highlights of assay results for these seven holes.

A map of the drill hole locations is available at http://www.zazumetals.com/main/?proposedWorkProgram.

Table 1. Assay result highlights for holes 14 through 23 of the 2008 summer development program

 

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               From      To    Sample Length     Pb      Zn   Pb+Zn      Ag
                 (m)     (m)              (m)     %       %       %     g/t
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DDH-161(i)    13.41   40.23            26.82   7.84   19.23   27.07  291.30

 including    22.56   38.56            16.00  11.25   27.70   38.95  444.30

DDH-162      164.90  172.67             7.77   1.96    5.74    7.70   41.16

DDH-163       74.07   80.47             6.40   1.14    4.79    5.94   14.57

 and          96.93   99.06             2.13   0.81    2.94    3.75   25.86

DDH-166        3.66   56.08            52.43   1.34    4.59    5.93   56.42

 including    24.69   47.40            22.71   1.60    7.19    8.79   77.63

 including    24.69   34.44             9.75   1.84   10.92   12.76   46.73

DDH-167       13.11   74.68            61.57   2.38    2.70    5.08   63.34

 including    24.38   74.68            50.29   1.18    3.26    4.44   58.05

 including    50.75   65.07            14.33   1.37    4.32    5.69  135.18

DDH-168       80.16  136.86            56.69   1.50    4.01    5.51   40.12

 including    83.21   95.86            12.65   3.61    7.16   10.77   47.81

(i) Note: Two Pb assays in the intervals reported as greater than 20% -
awaiting overlimit results
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Table 1 Assays were analyzed by ALS Chemex Laboratories of Fairbanks, Alaska

Assay results are pending on three holes in this series, holes 160, 164 and 165. Collectively, these drill holes are 14 through 23 of the approximately of 55 being drilled this season. Further assay results from the remaining holes are awaited. The first 13 holes were released on August 19th. All drill holes intersected mineralization and, to date, assays above 30% zinc were intersected in two holes.

The historical mineral resource at the Lik deposit is 26.7 mm tonnes grading 9.16% zinc, 3.15% lead and 49 g/t silver, representing one of the largest undeveloped zinc-lead deposits in the world. These historical estimates predate NI 43-101 are thought to be reliable at current drilling density and are considered to be relevant as they provide an estimate of the approximate size of the LIK deposit. They should not be relied upon until current work is used to update the resource.

Teck is a 50% joint venture partner in the Lik deposit, however Zazu has the exclusive right to obtain 80% of the property by meeting certain spending commitments by 2018.

This news release was reviewed by Mr. Neil N. Gow, P.Geo., an Associate Consulting Geologist with Scott Wilson Roscoe Postle Associates Inc., who is a qualified person as defined by National Instrument 43-101.

About Zazu Metals Corporation

Zazu is a Canadian-based exploration company focused on acquiring and developing base metal properties in North America. Zazu's principal asset is its 50% joint venture interest with Teck Cominco in the Lik zinc-lead-silver deposit in north western Alaska. As of June 30th, 2008, Zazu had over $8.0 million in cash and short-term investments; more than sufficient to fund the 2008 work program. Additional information about Zazu is available on its website 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 Cominco website.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael A. Steeves, President and COO

Some of the statements contained in this news release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.