Slave Lake Zinc completes exploration program at O’Connor Lake, Northwest Territories
Slave Lake Zinc Corp. [CSE: SLZ] provided an update on its recent exploration activities at the O’Connor Lake Project, Northwest Territories.
The company successfully wrapped up its initial exploration field program at the O’Connor Lake property. A field crew was mobilized to confirm and evaluate historic mineralized targets using modern technology to validate previous findings and pinpoint new areas of interest. The company reports that the initial process has been very positive, and results will be announced as they are compiled and interpreted. This work once compiled will help the company further define the area as well as potential drill targets.
The company settled a $117,000 loan provided by three directors to finance the exploration program. This was achieved through a shares-for-debt transaction, whereby the company issued 2,340,000 units at a price of $0.05 per unit to the directors.
Each Unit consists of one common share and one common share purchase warrant. Each warrant allows the holder to purchase an additional share at $0.07 for three years.
The transaction was approved by the Board. All securities issued are subject to a statutory hold period until February 10, 2026.