Was this item the only one made of this "slate", or were other objects made of it as well?
And was it really slate, or could it have been siltstone? Real slate flakes easily into layers and is not ideal for carving, whereas siltstone is much more suitable. I quote an extract from the Wikipedia article on the Narmer Palette, which was thought to be made of slate but is actually siltstone.
The Narmer Palette is a 63-centimetre-tall (2.07 ft), shield-shaped, ceremonial palette, carved from a single piece of flat, soft dark gray-green siltstone. The stone has often been wrongly identified, in the past, as being slate or schist. Slate is layered and prone to flaking, and schist is a metamorphic rock containing large, randomly distributed mineral grains. Both are unlike the finely grained, hard, flake-resistant siltstone, whose source is from a well-attested quarry that has been used since pre-dynastic times at Wadi Hammamat.[13] This material was used extensively during the pre-dynastic period for creating such palettes and also was used as a source for Old Kingdom statuary. A statue of the 2nd dynasty pharaoh Khasekhemwy, found in the same complex as the Narmer Palette at Hierakonpolis, also was made of this material.[1
From: https://en.wikipedia.org/wiki/Narmer_Palette