On August 20, 2024, Slave Lake Zinc Corp, a company listed on the Canadian Securities Exchange (CSE: SLZ), announced a private placement financing opportunity to expedite exploration activities at its flagship O’Connor Lake Project in the Northwest Territories. This private placement presents investors with a chance to participate in the advancement of a project with substantial potential for large-scale multi-base and precious metal deposits.
The private placement offers a combination financing of up to $500,000, with flow-through units available for up to $350,000 at a unit price of $0.06 and hard dollar units available for up to $150,000 at a unit price of $0.04. Each unit includes one share and a full warrant exercisable at $0.08, valid for two years after the closing date.
The funds raised through this offering will be allocated strategically to two primary areas. The first area includes the implementation of a Phase One Ground Exploration Plan, which aims to corroborate historical assay results obtained from structurally controlled vein systems in the O’Connor Lake region. The program will involve prospecting, geophysical ground surveying, and prioritization for a drill program scheduled for 2025. The second area of allocation will be directed towards general working capital to sustain ongoing exploration activities and enhance shareholder value.
Historical assays from the O’Connor Lake property have demonstrated its promising potential, showcasing high grades of gold, lead, zinc, and silver in various locations. The Phase One exploration data will aid in identifying the most prospective areas for a future drilling program, unlocking the full potential of the O’Connor Lake property.
Ritch Wigham, CEO of Slave Lake Zinc Corp, expressed confidence in the project’s advancement through this financing opportunity, emphasizing the positive history of exploration results at O’Connor Lake. The company’s consultant, Gary Vivian, M.Sc., P.Geo., who is a qualified person (QP) under National Instrument 43-101, has reviewed and approved the technical information presented in this news release.
Investors should be aware that forward-looking statements in this release carry inherent risks and uncertainties and are based on certain assumptions and estimates. Slave Lake Zinc Corp disclaims any obligation to update or revise such information, except as required by law, and does not assume liability for disclosures related to other companies. For more information, please visit the official press release source at https://www.newsfilecorp.com/release/220517.
