September 29, 2009 Canadian Zinc Corporation has conditionally agreed to subscribe for 125 million new shares in Vatukoula Gold Mines plc (“VGM”) for an investment of £1.5 million (1.2 pence per share). Canadian Zinc also reports that it has agreed to cancel its option on the Tuvatu Gold Project in Fiji. Tuvatu is a high grade gold deposit on the island of Viti Levu, Fiji, and located approximately 37 kilometres to the southwest of the Vatukoula Gold Mine. The Tuvatu Project is currently owned by American Eagle Resources Inc., through its 100% owned Fijian subsidiary Lion One Limited. Vatukoula has announced that gold production from the Vatukoula mine for the quarter ending 31 August 2009 was 6,722 ounces.
September 2, 2009 Canadian Zinc announced that it is commencing a diamond drill exploration program on the Tuvatu Gold Project on the island of Viti Levu, in Fiji.