Slave Lake Zinc Announces: "We Have Only Scratched the Surface!"

Slave Lake Zinc Announces: "We Have Only Scratched the Surface!"

Slave Lake Zinc Corp. (CSE: SLZ) (the "Company") is actively exploring the O'Connor Lake zinc - lead prospect. The Company's claims are located in the South Slave district of Canada's Northwest Territories in a mining friendly region with good infrastructure and supply access. The property is located some 185 kilometers southeast of Yellowknife and 60 kilometers from an all-weather highway at Fort Resolution. Vein structures discovered prior to 1952 were developed using drilling, bulk sampling, and underground methods. The prospect then lay idle from 1952 until its acquisition in 2016 by Slave Lake Zinc with no modern exploration in the intervening years.

Slave Lake Zinc was originally formed to seek minerals deemed essential to the new environmental and technological age. The Federal Government of Canada has designated zinc to be one of the metals critical to Canada's economic security. Zinc is also essential for Canada's transition to a low-carbon economy. The O'Connor Lake area was acquired by SLZ because there was historic development of high-grade zinc - lead deposits prior to 1952 and no modern exploration since that time.

The Company is relieved and excited to finally release results of a 900-line kilometer magnetic airborne geophysical survey flown by Precision GeoSurveys of Langley BC during the covid 19 shutdowns of 2021. The detailed survey, flown at a line spacing of 50 meters, was essential for the Company to confirm the theory of a hydrothermal structural corridor; and to further develop our relationship with the Northwest Territory Metis Nation through the Collaboration Agreement negotiated for the benefit of all parties and peoples in the under - explored South Slave Region. The airborne survey results correlate well with ground geophysical survey anomalies delineated in 2019 in the area of the Head Frame and provide confidence that the balance of the corridor surveyed has the potential to host similar mineralized structures.

SLZ is continuing to compile and combine the Company's new exploration data with the historic exploration results to provide a comprehensive database. The Company is using its detailed interpretation to develop a plan for a progressive and systematic exploration program across the property for the first time. This major program will include detailed prospecting and geological mapping, ground geophysical surveying to map structures, trench sampling of mineral occurrences and diamond drilling to evaluate newly identified mineralized structures.

Slave Lake Zinc's sample analysis to date has confirmed the original hypothesis (Dr. Prusti thesis, 1954) that the mineralization located by explorers prior to 1952 originated from a deep hydrothermal source. The O'Connor Lake district is now recognized to be located within a large regional structural environment, the Taltson Magmatic Zone. Similar magmatic zones occur world-wide, and are a source of many important minerals, including zinc and lead. These geotectonic environments are a common source of magmatic-hydrothermal fluid circulation systems in the earth's crust. Such regional scale zones also develop extensive, major deep-seated breaks and associated fracture systems which allow superheated magmatic brine solutions to ascend up and along such pathways until a favorable temperature/pressure environment is reached where deposition of the various minerals occurs.

Slave Lake Zinc recognized that this mix of fracture networks and major structures were likely the controlling factors defining the pre 1952 deposits and showings. The Company was then able to cursorily trace out the known deposits and extend them. A test exploration program by SLZ showed that modern geophysics could map the structures in the area of the Shaft Zone deposit. The Company then identified a "structural corridor" extending northwest from the Shaft Zone which was considered prospective to host additional mineralizing environments.

The Company then selected Precision GeoSurveys to complete a high-resolution magnetic airborne survey to assess the geological potential extending several kilometers along strike from the Shaft Zone to host additional mineralized structures.

Slave Lake Zinc had the survey data processed by Precision GeoSurveys and then reprocessed by Aurora Geosciences of Yellowknife, NWT, for a more detailed modelling interpretation over a small portion of the total survey area covered by the Company's original lease. This study demonstrated that the known deposit's structure was well defined, and that, additionally, previously unknown structures are present nearby and parallel to the main 1952 known mineralized zone. The newly identified parallel structures are underwater and are priority drill targets wholly undetected by the original explorers. Figure 1 shows the detailed modelling for the lease claim area.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/6453/145199_14d7f73da49ba9d7_001.jpg
 
Figure 1
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6453/145199_14d7f73da49ba9d7_001full.jpg

A preliminary interpretation of the balance of the survey is presented in Figure 2. This survey shows, in yellow, a large number of significant structural anomalies as major northwestern lineaments, and splay features off the major trend. A limited prospecting program on behalf of Slave Lake Zinc has located a mineralized structure some 5 Km northwest of the original 1952 shaft with zinc - lead content similar to the known deposits (NR October 11, 2022). This zone extends some 80 meters before trending under overburden. Recently, new results for an additional sample from this occurrence have been received by the Company and assayed: BSM2g 3.40% Zn/ >20.0% Pb. The samples from this zone also have characteristics that confirm a magmatic hydrothermal origin for the mineralizing event. The extensive structural corridor trends the length of the geophysical airborne survey (approximately 10 kilometers). This corridor along with the combined newly documented mineralization from this past summer's prospecting program, some 5 kilometers to the north of the shaft area, validates the company's exploration strategy for the O'Connor Lake zinc district.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/6453/145199_14d7f73da49ba9d7_002.jpg
 
Figure 2
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6453/145199_14d7f73da49ba9d7_002full.jpg
 

Cannot view this image? Visit: https://images.newsfilecorp.com/files/6453/145199_14d7f73da49ba9d7_003.jpg
 
Figure 3
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6453/145199_14d7f73da49ba9d7_003full.jpg

Ritch Wigham, CEO, commented, "The detailed survey interpretation for the known mineralization confirms that the gamble Slave Lake Zinc took in flying this style of high-definition magnetic airborne survey, prior to staking the land, was richly rewarded by the multiple structural zones which have been delineated from the airborne survey work. We are excited to have so many new exploration targets. These results will form the basis of detailed exploration comprised of ground surveys and drilling, which could be started at the original lease area with historic and new targets as soon as practicable."

Slave Lake Zinc is pleased to announce that it has closed its non-brokered private placement of units (the "Financing") announced on November 7, 2022. The Company issued a total of 3,970,000 units at $0.10 per unit for gross proceeds of $397,000. Insiders of the Company purchased a total of 2,330,000 units. Each unit consists of one common share and one warrant exercisable for two years at $0.15 per share. The securities issued pursuant to the Financing and any shares to be issued on the exercise of warrants are restricted from trading until March 11, 2023. The Company paid finder's fees of $6,900. Net proceeds will be used for general working capital.

Gary Vivian, P. GEO, a NI 43-101 Qualified Person has reviewed the information contained in this news release.

About Slave Lake Zinc

Slave Lake Zinc Corp. intends to develop the potential of its O'Connor Lake property, an historic zinc lead copper property located in the Northwest Territories of Canada. The property is located south of Great Slave Lake and to the east of Pine Point project. The property was initially developed after the Second World War and subsequently abandoned in 1952 when the prices of zinc and lead collapsed post war. Slave Lake Zinc Corp. believes that it is well positioned to advance this project and to expand significantly the historic potential of the property. For more information, please visit www.zinccorp.ca.

On Behalf of the Board of Directors,

Slave Lake Zinc Corp.

Per:

Ritch Wigham CEO & Director
Phone: 604-396-5762
Email: rwigham@zinccorp.ca

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of the content of this news release

Forward-Looking Statement

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in both Slave Lake Zinc's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "plan", "estimate", "expect", "intend", "potential", "should," and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information. Forward-looking statements include, without limitation, statements regarding the progress of a definitive offtake agreement, potential development and production at the Company's O'Connor Lake project, future oriented events and other statements that are not facts. Forward-looking statements are based on a few assumptions and estimates that, while considered reasonable by management based on the business and markets in which Slave Lake Zinc operates, are inherently subject to significant operational, economic, and competitive uncertainties and contingencies. Such forward-looking statements should therefore be construed in light of such factors. Although Slave Lake Zinc has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and Slave Lake Zinc disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Slave Lake Zinc does not assume any liability for disclosure relating to any other company herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/145199

News Provided by Newsfile via QuoteMedia

SLZ:CC
The Conversation (0)
Climate Change Has Now Become Personal for the North and South Slave and Slave Lake Zinc

Climate Change Has Now Become Personal for the North and South Slave and Slave Lake Zinc

Slave Lake Zinc Corp. (CSE: SLZ) (the "Company"): As much as we want to get on the ground and advance our project, we support and sympathise with the efforts to contain the devastation that our friends are subjected to in the communities that we are associated with in the South Slave.

Hay River, Fort Smith, and Yellowknife are integral to our partners and our ongoing advancement of our mutually beneficial project to combat the obvious climate change challenges that we all face. Thankfully at this point Fort Resolution has only been superficially affected by this regional catastrophe. We deeply hope that remains the case as the summer and this catastrophic fire season are not yet contained.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Forest Fires Delay Plans for Slave Lake Zinc

Forest Fires Delay Plans for Slave Lake Zinc

Slave Lake Zinc Corp. (CSE: SLZ) (the "Company") With the expansion of the forest fire issues in the Northwest Territories, the Territorial government has expropriated all the rotary wing aircraft available in the N.W.T. to support the efforts to fight the expanding forest fire problem. Fixed wing aircraft are also have significant issues in operating under the current conditions.

Consequently, Slave Lake Zinc has had to postpone the proposed ground exploration recognisance program that was scheduled. We will resume these plans as soon as practicable and look even more forward to advancing our exciting critical metals suite of minerals.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Slave Lake Zinc Initiates Summer Lithium Exploration Program to Expand "Critical Metals" Project

Slave Lake Zinc Initiates Summer Lithium Exploration Program to Expand "Critical Metals" Project

Slave Lake Zinc Corp. (CSE: SLZ) (the "Company") is pleased to announce the commencement of its anticipated summer Lithium exploration program, as previously announced on July 17, 2022. This program marks a significant step towards enhancing the Company's "critical metals" project.

The summer exploration program will begin with a focus on conducting reconnaissance prospecting and sampling within a 15 square kilometer area located west of the original headframe, where many pegmatite showings are mapped. The initial fieldwork will target a pegmatite dyke swarm within this region, where northwest trending pegmatites are found to intrude all other rock units. The Company's property is part of the regional-scale Yellowknife Lithium initiative, with the east arm of Great Slave Lake providing the only separation of SLZ from known lithium bearing pegmatites in this extensive lithium corridor. Slave Lake Zinc has engaged Aurora Geosciences of Yellowknife as their experienced geological consultants. CEO Ritch Wigham will accompany Aurora Geosciences during this phase of exploration.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Slave Lake Zinc Announces Corporate Update and Exploration of Lithium Potential in Northwest Territories

Slave Lake Zinc Announces Corporate Update and Exploration of Lithium Potential in Northwest Territories

Slave Lake Zinc Corp. (CSE: SLZ) (the "Company") Slave Lake Zinc is excited to share its corporate update and announce its exploration plans for lithium potential in Canada's Northwest Territories. The company is currently designing its summer exploration program and is eagerly anticipating the sampling of pegmatite formations on its property for potential lithium content. This project could potentially add to the company's already important critical metals project in the region.

The company's geologists and advisors have identified numerous significant pegmatite formations from historic mapping conducted on the maiden O'Connor Lake MWK claims from the 1950s. These formations have been mapped over several hundreds of meters. This historical mapping was conducted in conjunction with the then-company, American Yellowknife Mines, which was establishing production for zinc/lead at O'Connor Lake prior to operations halting due to poor metals prices in the early 1950s.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Slave Lake Zinc Poised to Become a Key Player in Canada's Green Economy

Slave Lake Zinc Poised to Become a Key Player in Canada's Green Economy

Slave Lake Zinc Corp (CSE: SLZ) is on the verge of becoming a significant participant in the country's green economy with its strategic metal's exploration operations. The company has recently expanded its potential to include lithium, which is a critical component for electric car batteries, alongside its existing zinc and lead exploration developments.

Slave Lake Zinc has a unique project with an established zinc/lead target and unparalleled lithium potential in the same suite of host rocks.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Canadian Investment Regulatory Organization Trade Resumption - OM

Canadian Investment Regulatory Organization Trade Resumption - OM

Trading resumes in:

Company: Osisko Metals Incorporated

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Silver47 Announces Trading on the TSX-V  and Provides Project Summaries

Silver47 Announces Trading on the TSX-V and Provides Project Summaries

Silver47 Exploration Corp. (TSXV: AGA) ("Silver47" or the "Company), is pleased to announce that its common shares will begin trading on the TSX Venture Exchange (the "TSXV") effective at the open of trading today.

Silver47 wholly-owns three silver and critical metals (polymetallic) exploration projects in Canada and the US: the flagship Red Mountain silver-gold-zinc-copper-lead VMS-SEDEX Project in southcentral Alaska; the Adams Plateau ‎silver-zinc-copper-gold-lead SEDEX-VMS Project in southern British Columbia, and the Michelle ‎silver-lead-zinc-gallium-antimony MVT-SEDEX Project in Yukon Territory.‎

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
FPX Nickel Rock Sampling Program Establishes Mich Property as Compelling Large-Scale Target with Surface Grades Comparable to Flagship Baptiste Nickel Project

FPX Nickel Rock Sampling Program Establishes Mich Property as Compelling Large-Scale Target with Surface Grades Comparable to Flagship Baptiste Nickel Project

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the results of a grid-based rock sampling program at the 100% owned Mich property in the Yukon territory.  This program has both expanded the footprint of known awaruite mineralization and identified new areas of awaruite mineralization beyond the previous claims boundary. Based on the expanded database of Mich rock sampling results, the grade profile of surface rock samples at Mich is now considered comparable with similar samples at FPX's flagship Baptiste Nickel Project (" Baptiste ") in British Columbia .

Highlights

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
RETRANSMISSION: Group Eleven Intersects 8.7m of 23.9% Zn+Pb and 85 g/t Ag; Expands Zinc-Rich Massive Sulphide Zone at Ballywire

RETRANSMISSION: Group Eleven Intersects 8.7m of 23.9% Zn+Pb and 85 g/t Ag; Expands Zinc-Rich Massive Sulphide Zone at Ballywire

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce results from latest five step-out holes of the 2024 drill program at the Company's 100%-owned Ballywire zinc-lead-silver discovery ("Ballywire"), PG West Project ("PG West"), Republic of Ireland.

Highlights:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Group Eleven Intersects 8.7m of 23.9% Zn+Pb and 85 g/t Ag; Expands Zinc-Rich Massive Sulphide Zone at Ballywire

Group Eleven Intersects 8.7m of 23.9% Zn+Pb and 85 g/t Ag; Expands Zinc-Rich Massive Sulphide Zone at Ballywire

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce results from latest five step-out holes of the 2024 drill program at the Company's 100%-owned Ballywire zinc-lead-silver discovery ("Ballywire"), PG West Project ("PG West"), Republic of Ireland.

Highlights:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Vertex Minerals Limited  Progress Update at High-Grade Reward Gold Mine

Vertex Minerals Limited Progress Update at High-Grade Reward Gold Mine

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce an update on the Reward Gold mine start up, with the refurbished Gekko plant arriving this week along with a team of trades people to install and commission the plant. Further the site infrastructure has been redeveloped with a number of improvements to roads and tails line implemented.

HIGHLIGHTS

- Civils completed.

- Gekko have commenced mobilising the Gekko Gravity Gold plant from Ballarat to the Mine site.

- Recently purchased LM 90 Drill Rig has been mobilised from Kalgoorlie to the Mine site.

- Mobile fleet purchased and on site.

o Light vehicles, heavy 6wd truck, 4wd Dual cab light truck, Integrated tool carrier, underground loader, underground haul truck, excavator

- Fixed plant purchased and on site.

o Underground fans
o Transformers
o Fuel Infrastructure
o Replacement piping for slurry and water reclaim

- General Manager and Mine Manager has commenced employment on site.

- Road infrastructure upgraded.

- Portal entry and ore handling area refurbished and expanded.

- Vertex on track for January commissioning of the plant.

The Reward Gold Mine is well placed for a simple start -up:

- The new processing plant will be constructed adjacent to the underground mine portal (640 Level) and over the existing footprint of the existing plant.

- The 640 Level extends into the resource and no stripping required with the revised mine plan.

- Second egress in place with existing ladder way from 640 Level to surface.

- Some underground fleet and utility services are already owned by Vertex. With new fleet arriving.

- The New plant will be utilising the existing services and infrastructure:

o Gold Room
o Water systems
o Power generation
o Offices
o Change Rooms
o Workshop
o Storeroom
o Crib Room
o Jaw Crusher
o Access Roads
o Security System

Commenting on the progress, Vertex Executive Chairman Roger Jackson said: "We are very pleased with the progress so far with the redevelopment of the Reward Mine and the refurbishment of the Gravity Gold plant, given we have done this with a very small capital budget and a very wet season. I would like to acknowledge our team at Hill End, headed up by our Director Declan Franzmann and Maintenance Manger Jeff Williams who have worked tirelessly on this project to get it to this point.

Further I would like to express our gratitude to the efforts made by Gekko on their professionalism in taking a second-hand plant and refurbishing it to an excellent standard within a very short lead time.

We are now all-hands-on-deck to get ore into the plant and be producing gold bars in January."



About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.



Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×