Governments around the world are securing supplies of zinc. After all, according to the Financial Post, “The move comes amid global instability and a move away from reliance on China, which currently produces about one-third of the world’s zinc.” In addition, we have to consider that the metal plays a key role in the global transition to a low-carbon economy. At the moment, zinc is being used to protect iron and steel from rusting, and is also a key piece of wind turbines, solar panels, and electric vehicles. All which is great news for Slave Lake Zinc Corp. (CSE: SLZ), Fireweed Metals Corp. (TSXV: FWZ) (OTCQB: FWEDF), Osisko Mining Inc. (TSX: OSK) (OTC: OBNNF), Cheetah Resources, a subsidiary of Vital Metals Ltd. (ASX: VML) (OTC: VTMXF), and Teck Resources Ltd. (NYSE: TECK) (TSX: TECK.A).
Even better, according to Lucintel.com, “The future of the zinc market looks promising with opportunities in the construction and infrastructure, transportation, consumer goods, and industrial machinery sectors. The global zinc market is expected to reach $74.4 billion in 2027. The major drivers for this market are increasing demand for galvanized steel and infrastructure development. Furthermore, growing demand from niche applications like smartphones, electric vehicles, mild hybrid engines, and power grid storage will drive the global zinc market.”
Look at Slave Lake Zinc Corp. (CSE: SLZ), For Example
Slave Lake Zinc Corp. is actively exploring the O’Connor Lake zinc – lead prospect. The Company’s claims are located in the South Slave district of Canada’s Northwest Territories in a mining friendly region with good infrastructure and supply access. The property is located some 185 kilometers southeast of Yellowknife and 60 kilometers from an all-weather highway at Fort Resolution. Vein structures discovered prior to 1952 were developed using drilling, bulk sampling, and underground methods. The prospect then lay idle from 1952 until its acquisition in 2016 by Slave Lake Zinc with no modern exploration in the intervening years.
Slave Lake Zinc was originally formed to seek minerals deemed essential to the new environmental and technological age. The Federal Government of Canada has designated zinc to be one of the metals critical to Canada’s economic security. Zinc is also essential for Canada’s transition to a low-carbon economy. The O’Connor Lake area was acquired by SLZ because there was historic development of high-grade zinc – lead deposits prior to 1952 and no modern exploration since that time.
The Company is relieved and excited to finally release results of a 900-line kilometer magnetic airborne geophysical survey flown by Precision GeoSurveys of Langley BC during the covid 19 shutdowns of 2021. The detailed survey, flown at a line spacing of 50 meters, was essential for the Company to confirm the theory of a hydrothermal structural corridor; and to further develop our relationship with the Northwest Territory Metis Nation through the Collaboration Agreement negotiated for the benefit of all parties and peoples in the under – explored South Slave Region. The airborne survey results correlate well with ground geophysical survey anomalies delineated in 2019 in the area of the Head Frame provide confidence that the balance of the corridor surveyed has the potential to host similar mineralized structures.
SLZ is continuing to compile and combine the Company’s new exploration data with the historic exploration results to provide a comprehensive database.
The Company is using its detailed interpretation to develop a plan for a progressive and systematic exploration program across the property for the first time. This major program will include detailed prospecting and geological mapping, ground geophysical surveying to map structures, trench sampling of mineral occurrences and diamond drilling to evaluate newly identified mineralized structures.
Ritch Wigham, CEO, commented “The detailed survey interpretation for the known mineralization confirms that the gamble Slave Lake Zinc took in flying this style of high-definition magnetic airborne survey, prior to staking the land, was richly rewarded by the multiple structural zones which have been delineated from the airborne survey work. We are excited to have so many new exploration targets. These results will form the basis of detailed exploration comprised of ground surveys and drilling, which could be started at the original lease area with historic and new targets as soon as practicable.”
Other related developments from around the markets include:
Fireweed Metals Corp. announced the results from the 2022 initial exploration program at the Gayna River project, Northwest Territories, Canada. Brandon Macdonald, CEO, stated “The results from this year’s exploration program at Gayna River demonstrate that there is potential for high-grade massive sulphides here, consistent with our approach in exploring for Kipushi-style high-grade targets around the margins of these ancient carbonate reefs. The soil sampling confirmed the presence of a large lead anomaly at the Jaws target that could represent the top of a shallowly buried reef. This soil anomaly is large and intense—the Jaws target has a central area of 4 km x 1 km with soils over 100 ppm lead and peak values over 27% lead. The coincident geological, geochemical, and geophysical anomalies at both the Jaws target and the ABC showings are very favourable in terms of the potential for high-grade zinc-lead-silver mineralization in the near surface. With these excellent initial results, we are very excited to advance these targets further.”
Osisko Mining Inc. provided new results from the continuing exploration program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec. Osisko Chairman and Chief Executive Officer John Burzynski commented: “On the back of our strongly positive MRE announced in late August and the significant new high-grade down plunge intercepts in September (Osisko news release dated September 27, 2022), today’s bulk sample results underscore the potential for Windfall to become one of the largest and highest-grade underground gold deposits in Canada. The grade has – for the third time in as many bulk samples – significantly exceeded expectations based on capped drilling block models. The empirical results from our bulk samples have consistently returned strong positive reconciliations, and give strong support to the existing geological model. They have proved invaluable in increasing our confidence in the grade, continuity and predictability of the mineralized zones at Windfall.”
Cheetah Resources, a subsidiary of Vital Metals Ltd. is Canada’s first and North America’s second rare earths producer, having commenced production at its Nechalacho project in June 2021. Nechalacho is one of the highest-grade rare-earth deposits in the world and the only rare earth project capable of beneficiation solely by ore sorting. Cheetah is aiming to become one of the lowest cost producers of rare earth oxides outside China. The Nechalacho Project is a high-grade, light rare earth (bastnaesite) project and has potential for a start-up operation exploiting high-grade, easily accessible near surface mineralisation. The Nechalacho Rare Earth Project hosts within the Upper Zone, a JORC Compliant Resource of 94.7Mt at 1.46% REO (25% NdPr). Cheetah Resources has signed a project development option agreement with Montero Mining & Exploration Ltd, to acquire and develop the Wigu Hill Project. The Wigu Hill project is a light rare earth element deposit and consists of a large carbonite complex with bastnaesite mineralisation with a NI 43-101 Inferred resource estimate of 3.3Mt at 2.6% LREO5 including 510,000t @ 4.4% LREO5 on 2 of 10 possible drill targets.
Teck Resources Ltd. announced that its Board of Directors has declared an eligible dividend of $0.125 per share on its outstanding Class A common shares and Class B subordinate voting shares, to be paid on December 30, 2022 to shareholders of record at the close of business on December 15, 2022.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Slave Lake Zinc Corp. by Slave Lake Zinc Corp. We own ZERO shares of Slave Lake Zinc Corp. Please click here for full disclaimer.
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