Slave Lake Zinc: The Lithium Potential For The O’Connor Lake Project

Back in late January, Slave Lake Zinc Corp. (CSE: SLZ) revealed it had acquired a significant historical database of its O’Connor Lake zinc-lead critical metals project. The database covers pre-1952 data collected on the property, providing further insight into the geological setting that exists at the flagship property.

Details contained within the database are to be analyzed utilizing modern exploration techniques, and then merged into the comprehensive database developed for the property by Slave Lake.

That analysis appears to have been already partially completed, when fast-forward to mid-February, Slave Lake announced that the data analyzed revealed occurrences of coarse-grained pegmatites on its O’Connor Lake property. While the company was aware of the pegmatites from the work of Dr. Prusti and government geologists, management was not previously permitted to discuss this information without the historical data to support it.

READ: Slave Lake Zinc Reveals Flagship Property Hosts Pegmatites With Lithium Potential

The pegmatites are said to occur primarily as dykes, but also occur as masses in complex multiple-phased intrusive granitic environments. No exploration has occurred on these pegmatites, but there is potential for them to host lithium-bearing spodumene mineralization, the critical indicator mineral needed for lithium potential. 

The Taltson Magmatic Zone, the geological formation that hosts the O’Connor Lake Property, has not yet seen the identification of lithium bearing pegmatites. However, the host rocks found in the region are believed by geologists to be similar to those found in the Hearne Channel-Beaulieu River area, which is found on the opposite side of Great Slave Lake.

Li-FT Power Ltd. (CSE: LIFT) is currently one of the firms exploring that region north of Great Slave Lake, where its Yellowknife Lithium Project is reported to have numerous spodumene-bearing pegmatites, which feature strike lengths up to 1,800 metres long, with widths of up to 40 metres. The project features 14 different lithium pegmatite systems, with historic channel samples returning values of 1.10% to 1.19% lithium.

Li-Ft Power’s Yellowknife Lithium Project, found north of the O’Connor Lake Project.

The historical database being analyzed by Slave Lake Zinc meanwhile recently gleaned further details on the potential for pegmatite occurrences, when the firm indicated that pegmatite had been noted as being intersected in historic drill logs. A 13-hole program conducted in 1951 by American Yellowknife Mines, focused on the MCO targets on the western side of O’Connor Lake, documented the intersection of pegmatites within the holes.

Pegmatites and pegmatites granites were reportedly intersected across intervals ranging from less than a metre to over 10 metres within the drill section. Unfortunately, evaluations for lithium or tantalum-columbite, which is another mineral often found in pegmatites, were not conducted at the time, with exploration focused on identifying zinc-lead-copper mineralization.

READ: Slave Lake Zinc Reports Pegmatites Intersected In Historic Drilling

The drill holes conducted are said to have ranged in depths of up to 90 metres, targeting two separate vein systems using widely spaced holes. Multiple vein intersects of pegmatite are said to have occurred however, with assay data from the drilling not available.

“It can not be overstated how the historic data has enhanced our ability to advance this project in comparison to our peers. Lithium exploration will be substantially advanced with the recognition of pegmatites within the historic drilling. With the historic data now at hand, Slave Lake can better focus our exploration efforts and define drill targets more efficiently. Our focus initially was the high-grade zinc-lead+/- copper mineralization, but we can now add lithium as a target metal at our O’Connor Lake critical metals exploration project,” said CEO Ritch Wigham in connection with the announcement of the historic data.

Moving forward, Slave Lake Zinc has indicated it intends to capitalize on the data gleaned from the historic database with exploration set to be focused on using geological mapping, sampling, and ground geophysics to identify targets for drilling. That drilling is slated to focus on both zinc-lead mineralization, as well as pegmatites in an effort to confirm the historic data. The company is currently moving to establish a resource at the O’Connor Lake project, which in addition to targeting zinc-lead mineralization, will also examine the lithium potential of known pegmatites.

Slave Lake Zinc last traded at $0.075 on the CSE.

FULL DISCLOSURE: Slave Lake Zinc is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Slave Lake Zinc on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.

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