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Looks like some kind of chert to me. I've never seen slate fracture like that.
I agree with your opinion as a Waller knife even though it’s a bit out of place. It’s a river find which makes it very plausible. One image shows flaking/chipping which all but eliminates slate and shale in my opinion.
I’d love to see this piece in person!
I agree with Sandchip and 1320, I don't think it's shale. The curvature of the flake (a spall) and the type of chipping make think it might be a chalky piece of chert. Dover, Ft Payne, Brassfield and other Tennessee cherts can have "dry" spots that can absorb creek stain or are just grey to begin with.
And it looks like a Waller knife, so likely your oldest find unless you've already found something really cool like a Clovis or Cumberland.