Slave Lake Zinc is very proud and excited to be working with the Fort Resolution Metis Council, in the hiring of members of the community, to aid in the collection of geophysical data, to advance the knowledge and confidence in the project at O’Connor Lake. The project lies just 60 km from the community of Fort Resolution on the south shore of Great Slave Lake in Canada’s Northwest Territories.
After three trips to the community by CEO Ritch Wigham, accompanied by President Jas Rai, the Fort Resolution Metis Council (FRMC) has requested that Slave Lake Zinc review, and potentially enter into a “Negotiation Agreement” with the aim of then negotiating a broader “Exploration Agreement” with ultimately commitments to negotiate a future, more comprehensive “Benefits Agreement”.
Slave Lake management is very pleased with the positive reception that we have received from both the FRMC and the broader community of Fort Resolution. CEO Ritch Wigham stated: “Management of Slave Lake Zinc is excited to be working with the FRMC and the community of Fort Resolution as we advance the project at O’Connor Lake. Slave Lake Zinc is committed to as much participation as is practical from the members of the FRMC and community of Fort Resolution”.
The work program that has been initiated is designed to take an accurate picture of the previously un-explored, presumed south east extension of the veins that are at surface in the historic head frame area nearly a kilometer on strike to the north west. A grid is being established by a groundwork crew to be followed up by Aurora Geosciences with a comprehensive VLF survey and follow up interpretation.
The area of interest has been extensively sampled at surface by previous Slave Lake operatives while completing the compliant 43-101 technical report and previous exploration/prospecting trips to the property. The area known as Vein #2 has been established to contain some very high-grade, at surface samples of both zinc (Zn) and lead (Pb), within an area that is also very rich in copper and silver. This has been regarded as a very high priority exploration target for the company. (Please see table below:)
| Headframe Zone | ||||
| Zn-ppm or % | Pb-ppm or % | Cu-ppm or % | Ag-ppm or % | |
| HF1 | 21.64% | 0.74% | 1518 | 10 |
| HF3 | 25.55% | 0.14% | 836 | 9.4 |
| V408057 | 7.67% | 1.81% | 775 | 7.5 |
| New South Extension | ||||
| Zn-ppm or % | Pb-ppm or % | Cu-ppm or % | Ag-ppm or % | |
| V408052 | 2.67% | 3.10% | 862 | 5.8 |
| V408053 | 3.12% | 18.95% | 3.04% | 27.6 |
| V408054 | 7.10% | >20.0% | 1985 | 39.9 |
| V408055 | 9.28% | 13.15% | 1420 | 20 |
| OL 1602 | 9.59% | >20.0 % | 2150 | 55.2 |
Even as our knowledge of the property, and work done, extends back to the 1950’s, the data that the technical staff is in possession of, is of a non-compliant nature, for the modern regulatory environment. It was decided by the technical staff that our knowledge of the head frame and immediate surroundings would not be advanced or enhanced, at this stage, by simply verifying work done by the previous operator (American Yellowknife Mines) back in the 1950’s. (For example, twinning drill holes to verify existing drill logs in our possession)
It was decided that to really enhance our knowledge of the nature of the mineralization on our O’Connor Lake property, that a more aggressive approach would serve the company and the shareholders better than to verify previous work that we can do at any time in the future.
It must be remembered that the only geophysical work ever done on this hydrothermal, mineralized environment has been done by Slave Lake Zinc in conjunction with our associates at Aurora Geosciences. It must also be remembered that the nature and chemistry of these hydrothermal veins can extend for several miles in all directions and has no known limiting depth extent at this time.
The adage that: “The best place to find a new mine, is under the shadow of the head frame of an old mine” may never have been more appropriate than at O’Connor Lake.
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 North West 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. Per:
Ritch Wigham
CEO & Director
Phone: 604-396-5762
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.
