SLAM Acquires More Cobalt Claims
SLAM Acquires More Cobalt Claims
TSXV: SXL
Ramsay Cobalt Property Expanded To 4884 Hectares
MIRAMICHI, NB, Jan. 22, 2018 /CNW/ - SLAM Exploration Ltd. (TSXV: SXL) ("SLAM" or the
"Company") is pleased to announce acquisition by staking 2 additional claims comprising 109 units. This
increases SLAM cobalt holdings by 95% to cover 4884 hectares of volcano-sedimentary strata located on
highway 180 approximately 25 km west of the Caribou mine operated by Trevali Mining Corp. in the
Bathurst Mining Camp ("BMC") of New Brunswick, Canada.
The new claims were staked to cover potential extensions of the Ramsay cobalt occurrence suggested by
the presence of anomalous cobalt levels in steams sediments collected for previous government surveys.
Anomalous cobalt levels of 39 ppm, 75 ppm and 49 ppm were detected 0.5, 6.0 and 9.0 km respectively
northwest of the Ramsay occurrence (arithmetic mean is 12 ppm and standard deviation is 5 ppm in a
collection of 2160 stream sediment samples).
These claims follow previous acquisitions that combine to form the Ramsay cobalt "Property" as disclosed
in a news release issued by the Company on January 9, 2018 as well as releases on October 2 and 4,
2017. The Property is host to the Ramsay cobalt occurrence, where nine holes were drilled on the
Ramsay cobalt property by previous workers in 2004. Reported intervals include 0.8m grading 0.956%
cobalt within a 4.8m core interval grading 0.352% cobalt. Such higher grade zones typical ly occur within
longer core intervals ranging to 24.8 m grading 0.180% cobalt and 0.182% copper. Significant core
intervals from all nine holes are summarized in the table below:
DDH From To Length Cu % Co%
M04-01 13.8 14.9 1.1 0.849 0.024
M04-01 33.3 36.3 3.0 0.213 0.190
M04-01 33.3 34.2 0.9 0.168 0.367
M04-02 24.9 35 10.1 0.073 0.023
M04-02 32.6 33.1 0.5 0.160 0.245
M04-03 23.9 24.4 0.5 0.160 0.010
M04-04 24.0 48.8 24.8 0.182 0.180
M04-04 43.0 47.8 4.8 0.019 0.352
M04-04 45.0 47.8 2.8 0.037 0.721
M04-04 48.8 50.5 1.7 0.990 0.018
M04-05 11.0 12.9 1.9 0.469 0.044
M04-05 28.4 34.5 6.1 0.052 0.314
M04-05 32.5 34.5 2.0 0.031 0.808
M04-05 95.4 104.7 9.3 0.111 0.028
M04-05 102.7 103.7 1.0 0.597 0.011
M04-06 20.0 21.0 1.0 0.114 0.314
M04-06 36.0 130.0 94.0 0.097 0.035
M04-06 37.0 38.0 1.0 0.570 0.140
M04-06 62.0 63.0 1.0 0.065 0.226
M04-06 85.0 86.0 1.0 0.116 0.886
M04-06 101.0 102.4 1.4 0.950 0.009
M04-07 64.0 68.0 4.0 0.161 0.037
M04-08 5.5 10.0 4.5 0.040 0.008
M04-08 54.0 58.0 4.0 0.195 0.035
M04-09 10.0 16.0 6.0 0.070 0.019
The above noted drilling results are drill core intervals. True widths were not reported.
QA-QC Procedures: The drill hole data referenced in this news release derive from two assessment
reports written by a qualified person in 2004. The reports document the sawing of core and sampling
procedures and include copies of the assay certificates for the drilling program. The assays were done
using the ICP70 method by SGS Canada Inc. of Toronto, Ontario.
Other BMC Properties: Utilizing a technical database that covers the entire BMC, the Company has
acquired 15 projects covering 32,000 hectares of mineral land in this mineral-producing district. These
include the Portage, North Rim, Connector and Lower 44 zinc projects as well as the Ramsay cobalt
project.
About SLAM Exploration Ltd:
SLAM is a project-generating resource company holding an NSR royalty on the Superjack, Nash Creek
and Coulee zinc-lead-copper-silver properties and owning a portfolio of base metal and cobalt properties
in the Bathurst Mining Camp ("BMC") of New Brunswick. The Company continues to utilize its extensive
BMC mineral database to explore and develop properties in this historic region of mineral potential. Other
projects include the Menneval gold project and the Reserve Creek and Miminiska gold projects in
Ontario. Additional information about SLAM and its projects is available at www.slamexploration.com or
from SEDAR filings at www.sedar.com. Follow us on twitter @SLAMGold.
Qualifying Statements: Mike Taylor, P.Geo. President and CEO of SLAM Exploration Ltd., as the
Qualified Person, approves the scientific and technical disclosure in the news release.
Certain information in this press release may constitute forward-looking information, including statements
that address the Private Placement, the closing of the Private Placement, future production, reserve
potential, exploration and development activities and events or developments that the Company expects.
This information is based on current expectations that are subject to significant risks and uncertainties
that are difficult to predict. Actual results might differ materially from results suggested in any forward-
looking statements. The Company assumes no obligation to update the forward-looking statements, or to
update the reasons why actual results could differ from those reflected in the forward looking -statements
unless and until required by securities laws applicable to the Company. There are a number of risk factors
that could cause future results to differ materially from those described herein. Information identifying
risks and uncertainties is contained in the Company's filings with the Canadian securities regulators,
which filings are available at www.sedar.com. Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this
release.
SOURCE SLAM Exploration Ltd.
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http://www.newswire.ca/en/releases/archive/January2018/22/c5229.html
%SEDAR: 00012459E
For further information: Mike Taylor, President & CEO, Contact: 506-623-8960
[email protected]; Eugene Beukman, CFO, Contact: 604-687-2038
CO: SLAM Exploration Ltd.
CNW 10:01e 22-JAN-18