In a medium bowl, combine olive oil, garlic, shallot, red wine vinegar, Dijon, rosemary, thyme, lemon zest, 1 teaspoon salt and 1/2 teaspoon pepper; set aside 1/4 cup of the mixture in the refrigerator until ready to serve.
In a gallon size Ziploc bag or large bowl, combine lamb chops and remaining olive oil mixture; marinate for at least 2 to 6 hours, turning the bag occasionally. Drain the lamb chops from the marinade.
Using paper towels, pat both sides of the lamb chops dry; season with salt and pepper, to taste.
Heat canola oil in a large cast iron skillet over medium high heat. Working in batches, add lamb chops to the skillet in a single layer and cook until it reaches an internal temperature of 145 degrees F, about 3-4 minutes per side, or until desired doneness. Let rest 5 minutes.
Serve immediately with reserved 1/4 cup olive oil mixture.