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Slave Lake Zinc Corp. (CSE: SLZ,OTC:SLZNF) is pleased to announce that a field crew has been mobilized to its O'Connor Lake property. The objective is to confirm and evaluate historic mineralized targets using a combination of modern technologies, including satellite imagery, ground GPS reconnaissance, and the company's previously flown airborne geophysics.
"We are very excited to have our team on the ground at O'Connor Lake," stated Ritch Wigham, CEO of Slave Lake Zinc. "This comprehensive program will allow us to validate the promising historic findings and pinpoint new areas of interest, moving us closer to unlocking the full potential of this property."
Slave Lake Zinc announces that related parties have agreed to accept units in the company for recent loans made by the parties (Jas Rai, Ritch Wigham and Glen Macdonald) to help advance the exploration work being done by the company. Through the issuance of 2,340,000 units (each, a Unit) in the capital of the company at a price of $0.05 per Unit. Each Unit will consist of one common share and one share purchase warrant (Warrant), where each Warrant will entitle the holder to purchase one additional common share (Warrant Share) at an exercise price of $0.07 per Warrant Share for a three-year period.
The securities issuable pursuant to the transaction settling the outstanding loan made by insiders and related parties will be subject to a four-month and one day hold period.
On Behalf of the Board of Directors,
Slave Lake Zinc Corp.
Per:
Ritch Wigham CEO & Director
Phone: 604-396-5762
Email: rwigham@zinccorp.ca
About Slave Lake Zinc Corp.
Slave Lake Zinc Corp. is a mineral exploration company focused on advancing its 100% owned O'Connor Lake Property, located in the prolific Slave Lake greenstone belt of the Northwest Territories. The property is situated approximately 100 km east of Fort Resolution, the terminus of the all-weather road from Osisko's Pine Point deposits. The Company's geological team is experienced in identifying and delineating volcanogenic massive sulfide ("VMS") deposits and is committed to maximizing shareholder value through exploration and development of the O'Connor Lake Project.
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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268569
