Slave Lake Zinc Poised to Become a Key Player in Canada's Green Economy
Vancouver, British Columbia--(Newsfile Corp. - April 25, 2023) - 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.
With the Canadian government's recent deal with Volkswagen of Germany to support the construction of the largest battery manufacturing facility in Canada, and Chile's nationalization of all lithium production in the country, Slave Lake Zinc is well-positioned to be a key supplier of critical metals for Canada's green future.
Historic data that the company possesses, as reported earlier, confirms the regional extent of the pegmatites, which potentially contain the sought-after lithium, that will be used in the production of batteries for electric cars, including the St. Thomas battery operations. The company's confirmed zinc/lead samples over 35 sq.km and historic pegmatite showings at surface and at depth, as confirmed in the historic drill logs at both the MWK 1 and the MOC historic drill locations, with the MOC drills over 6km west of the head frame 1952 mining operations. With the expanded O'Connor Lake project able to become a significant exploration project within the mining industry of the Northwest Territories, with the partnership and support of the Northwest Territory Metis Nation and the communities of the South Slave Region helping to fight against climate change, and possibly supply the critical metals needed for Canada's green future.
Slave Lake Zinc has already accomplished significant milestones, including a collaboration agreement, the discovery of a new showing 5km north of the headframe, identification of historic pegmatites, expansion of its land position to over 6500+ hectares, and obtaining a drill permit and water license on its original lease. Slave Lake Zinc is excited about the prospect of getting boots on the ground to prioritize future drill targets and collect samples from the pegmatite zones and previously unsampled mineral occurrences.
At its recent annual general meeting of shareholders held on April 19, 2023, all items were approved, including the re-election of five directors to the company's board, the appointment of SHIM & Associates LLP as auditor, and the re-approval of the Company's rolling 15% stock option plan by disinterested shareholders. Mr. Wigham will continue as the Company's CEO, Mr. Rai as the Company's President, and Mr. Cummings as the Company's CFO. In addition, the company has hired Grant Galloway of FP Wealth Management as a consultant based in London to provide European exposure.
Slave Lake Zinc is excited about the opportunities ahead and is poised to contribute significantly to Canada's strategic metal needs, support the green economy, and play a pivotal role in the mining industry's future in Canada.
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.
Ritch Wigham CEO & Director
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.
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.
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