Slave Lake Zinc Corp. is based in Surrey, British Columbia and is a publicly traded company in the Canadian Securities Exchange: SLZ.
Our company was developed for public exposure when an opportunity to partner with the holders of a very exciting zinc, lead, copper property, with potential significant silver credits, was made available to our group of experienced mining investors.
The property is located in the South Slave Region of the Northwest Territories, 185 km southeast of Yellowknife at O'Connor Lake. With very high grades, and no work having been done on the project since 1952, it became evident very quickly that we had the potential for a significant zinc/lead-based project to advance. We believe that the O'Connor Project will be the “core” to a more substantial mining company, that is: Slave Lake Zinc
Some Highlights from the property that made the decision to go public very easy:
-target deposit not limited along strike or at depth by earlier exploration
-geophysical survey work by SLZ suggests a strike extent
-likely confirmation of deposit type based on conclusion of Prusti PhD (1953-4) as a low temperature hydro-thermal origin deposit
With the prices of zinc and lead maintaining a combined $2.00 U.S./lb or more for the last two years it was an easy decision to pursue a listing. We believe the potential for Slave lake Zinc merits the faith we have in the O'Connor Lake Project as a stand-alone public corporation.
In 1948 prospectors from Yellowknife NWT, following up on earlier leads, discovered high grade lead-zinc -silver -copper showings at O’Connor lake and staked the MWK property. They conducted prospecting and trenching programs on the main zones in 1949 and 12 holes of core drilling in 1950. In 1951 American Yellowknife Gold Mines purchased the claims and started a program of diamond drilling. American constructed a 45-mile winter access road from Rocher River using two D-7 bulldozers in 1952. After drilling an additional 55 core holes the Company moved mining equipment to the site. During 1952 American sank a 3-compartment shaft to a depth of 180 feet (55 meters) and cut a shaft station at the 150-foot level. Lateral development consisted of a 38-meter crosscut and 62 meters of drifting along the mineralization. A test shipment of 35 tons of ore was sent to the CM&S smelter at trail for metallurgical purposes for mill design. The MWK campsite at the time consisted of cookhouse, bunkhouse warehouse, office and a mine managers residence. A total of 30 people were employed at the mine on 1952. Operations were suspended at the end of 1952 to await better metal prices and the future large-scale developments at Pine Point to the west. American removed the mine equipment to place their uranium mine near Yellowknife into production. The company, re-named Rayrock Mines, maintained the MWK claims until the late 1960’s by when the company had moved their operations to Nevada. The property lay idle until acquired by present ownership in 2002. The current owners (Slave Lake Zinc) have conducted programs of prospecting, confirmation trench sampling and geophysical surveys. The company has also surveyed the property and taken the claims to lease, renewable at 21-year intervals.
The O’Connor Lake area is located near the western margin of the Taltson Magmatic Zone. Oldest rocks are Archean, supracrustal and strongly metamorphosed paragneisses and schists with minor amounts of lesser deformed greywacke, argillite, shale and quartzites. Small granitic lenses and pegmatite bodies and pegmatite injections commonly occur in the paragneiss. Interbanded within the paragneiss and metasediments are small bodies of metavolcanics and amphibole gneiss with minor banded iron formation and ultramafic rocks. A massive granodiorite-granite intrusive complex borders the supracrustal units to the west. Xenoliths of amphibolite and paragneiss commonly occur within the intrusives. Granodiorite portions contain biotite, hornblende and a pink microcline as porphyroblasts. The intrusive rocks are medium grained, weakly foliated and usually grade into less mafic granitic rocks. East of the granodiorite complex is a medium to fine grained, foliated biotite monzogranite containing xenoliths of metasediments and amphibolite. Small irregular muscovite granite bodies occur cutting metasediments, metavolcanics and monzogranites. This granite is composed of quartz, microcline, orthoclase, muscovite and biotite and associated pegmatites commonly contain very coarse-grained muscovite. Fine grained aphanitic northwesterly trending diabase dykes cut all the units. These dykes vary from 1 to 40 meters in width and have been dated at 1,700 Ma.
Quartz-carbonate veins from 0.5 to 3 meters in width are present crosscutting the entire lithology, including the dykes. These fissure type veins generally have a northwesterly orientation and host zinc, lead, copper, silver and gold sulphide showings.
Two vein systems at the MWK property were explored by American Yellowknife Gold Mines in 1951-1952. The number 1 vein was explored with 55 core drill holes, surface trenching, bulk sampling and sinking a 180-foot three compartment shaft with 330 feet of drift. Drilling the vein system indicated that the mineralized section at depth exceeds 600 feet in length with multiple phases of sulphide mineralization.
The number 2 vein system was explored with trenching only in 1952 some 450 meters southeasterly from the number 1 zone. Other vein systems were noted at the time and were assigned a lower priority.
Slave Lake Zinc has taken samples from the old trenches on both veins and confirmed the original 1951/1952 results.
The Company also completed a magnetics geophysical survey to trace the known zones. The number 1 vein may occur in a splay fault related to a major local structure containing the number 2 vein system.
The vein systems represent typical open-space filling fissure veins. They are considered to be of hydrothermal origin (after Prusti, 1954). The quartz is commonly coarsely crystalline with cockade or comb structures. Common gangue minerals include fluorite, apatite and adularia and the host rock is typically weakly hydrothermally altered in areas of mineralization.
We are in one of the premiere mining districts in the world. The Northwest Territories is very mining friendly. With several diamond and precious/base metal projects developed or in development the N.W.T. has a proven record of getting mines to production.
Our location is even special for the N.W.T. Only 185km from Yellowknife, by air, we are easily supplied in the early stages by the major supply source for all of the N.W.T.
We are only 148 km from Pine Point. Pine Point is being developed by Osisko Metals to re-open as a viable zinc mine. Pine Point was one of the largest mines in Canada and produced some 64 million tons of ore between 1964 and 1987. The grade was 7% zinc and 4% lead. Nearly identical to the confirmed grades at O'Connor Lake. Pine Point was literally a “string of pearls” strung along some 60km of periodic open pits. Pine Point has a mill, tailings ponds and a rail line. All able to be rehabilitated for future production.
Power is probably the single most important aspect of the financially viable development of any mining project. We really lucked out here! We are only about 60km from the 18-mw power plant that supplies Fort Smith, Hay River, Fort Resolution on the Talston River. Some 200km of lines supply these communities and O'Connor Lake is within close proximity to these power lines. This is hydro power and the power plant has excess capacity that is operated and maintained by the NTPC (Northwest Territories Power Corporation) very clean and very cheap!
To summarize we have:
-60km to all weather road at Fort Resolution
-Access to year-round supply by air
-Access to Pine Point infrastructure on the same all weather road between Hay River and Fort Resolution
Slave Lake Zinc Corp. is a publicly traded company listed on the CSE under the ticker symbol SLZ. If you are a U.S resident and would like to purchase Canadian securities traded on the TSXV or CSE please open an account at Interactive Brokers (Phone #1-877-442-2757 ) Interactive Brokers is an online discount brokerage that offers U.S residents access to trading Canadian securities. Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities and foreign exchange around the clock on over 135 markets in numerous countries and currencies from a single Integrated Investment Account to customers worldwide. This is not investment advice. Please view the disclaimer found on this website.