Vancouver, British Columbia- (July 6, 2022) Slave Lake Zinc Corp. (the “Company”) (CSE: SLZ): Slave Lake Zinc has now expanded the property by staking an additional 76.25 square kilometers contained in ten mineral claim blocks surrounding the Company’s original lease. The new SLZ land acquisition was facilitated by a “Collaboration Agreement” the Company negotiated with the Northwest Territory Metis Nation, as announced by news release on June 16, 2022.
The new claims cover a structural geologic corridor exceeding a length over 15 kilometers northwest to southeast centered over the Company’s original lease where the pre 1952 mine development work was undertaken. The Company has identified over 25 historic mineralized showings within the property now under the control of Slave Lake Zinc, as displayed on the attached map. Most of these showings contain zinc-lead base metal mineralization in structural zones similar in nature to the known Shaft Zone.
Slave Lake Zinc CEO Ritch Wigham commented: “It must be remembered that information assembled by Dr. Bansi Prusti 1953-1954 for his PhD thesis stated (P.127) ‘it is apparent that all the mineralized quartz veins occurring in this map area have had a similar origin and are probably hydrothermal.’ Some of the 25 known showings are several kilometers distant from the headframe area and are several kilometers apart. Many of these showings were never analyzed for precious metals and generally carry similar base metal grades to what has been reported for the original lease (10-17% Zinc; 6-10% Lead). It appears that Dr. Prusti sampled most or all of these showings over his two-year PhD project to draw his conclusions.”
Slave Lake Zinc is conducting exploration programs at its O’Connor Lake zinc-lead-precious metals property located in the South Slave region of Canada’s Northwest Territories.
The Company’s original mining lease lies approximately 185 kilometers southeast of Yellowknife NWT and 60 kilometers from the all-weather highway at Fort Resolution. The general area was under active exploration and development following World War II until falling metal prices placed operations on hold in 1952. The region then remained dormant until Slave Lake Zinc became involved recently and conducted ground and airborne magnetic and VLF-EM geophysical surveys.
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 Osisko Metals’ 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.
Ritch Wigham CEO & Director
Email: [email protected]
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