SLAM Acquires The Lower 44 Massive Sulphide Property Lower 44 Mineral Claims Host Zinc-Lead-Copper-Silver-Gold Zones
SLAM Acquires The Lower 44 Massive Sulphide Property
Lower 44 Mineral Claims Host Zinc-Lead-Copper-Silver-Gold Zones
TSXV: SXL OTCBB: SLMF
MIRAMICHI, NB
,
Feb 14, 2017
/CNW/ -
SLAM Exploration Ltd. (TSXV: SXL)
("
SLAM
" or the "
Company
") is pleased to announce it has acquired 5 mineral
claims covering 1350 hectares of land known as the Lower 44 property located in the Bathurst Mining Camp ("BMC") of
New Brunswick
, Canada. The site is 20
km west of the former producing Brunswick No. 12 mine owned by Glencore and 18 km south of the Caribou mine owned and operated by Trevali Mining Corp.
The Lower 44 property is host to three historic zinc-lead-copper-silver-gold mineral occurrences known as the Lower 44 zone, the
Essex
zone and the Tribag
zone. The best drilling intercept to date is a 3.8 m core length grading 12.9% zinc, 5.35% lead, 0.78% copper, 70.6 g/tonne silver and 1.37 g/t gold reported from
the Lower 44 zone in 1983. The Lower 44 zone (formerly known as the "Bog" zone), was intersected by 4 drill holes over a strike length of 60m and drilled widths
ranging from 0.6 to 3.8 m.
The
Essex
zone comprises banded to massive sulphides traced over a strike length of 450 m and to a depth of 100 m by 5 diamond drill holes. Essex zone
intercepts include 2.3 metres grading 3.25% zinc, 0.99% lead, 0.18% copper, 43.64 g/t silver and 1.29 g/t gold.
The Tribag zone was discovered in 1962 and drilled by 8 diamond drill holes over a strike length of 200m to a depth of 60m. Intercepts of banded to massive
sulphides with visible zinc-lead-copper mineralization were reported over core lengths ranging up to 6.5m. The historical records reviewed by SLAM do not include
assay data for the Tribag drill holes.
The Lower 44,
Essex
and Tribag zones are volcanogenic massive sulfide occurrences (VMS) discovered by previous workers in drilling campaigns dating back to
the 1950's. Sulphide mineralization occurs within folded sedimentary and volcanic rocks similar in age and lithology to the Brunswick No. 12 and Caribou ore-
bodies. There is potential to expand all 3 occurrences by drilling at depth and along strike within the Lower 44 property. Soil geochemical anomalies associated
with airborne geophysical conductors demonstrate potential for extensions along strike as well as at depth and are considered drill-ready VMS targets.
Joint Venture/Earn-In Opportunity
: SLAM has a portfolio of zinc-lead-silver properties that are available for joint venture and/or option-earn-in agreements in the
Bathurst Mining Camp of New Brunswick. These include Costigan, Connector. Lower 44 and other mineral properties with mineral potential demonstrated by
previous drilling results as well as airborne and ground geophysical and geochemical surveys. For additional information, call
Mike Taylor
506-623-8960.
About SLAM Exploration Ltd:
SLAM is a project generating Resource Company with a portfolio of gold, base metal and lithium projects in the mineral-rich Province of
New Brunswick
where
SLAM's main focus is the wholly-owned Menneval gold project. SLAM holds an NSR royalty on the Superjack and
Nash Creek
zinc
lead
copper
silver deposits
and owns a portfolio of base metal properties in the Bathurst Mining Camp ("BMC"). The Company intends to utilize its extensive BMC mineral database to
explore and develop properties in this region of world-class mineral potential. SLAM also owns the
Cumberland
lithium project in southeastern New Brunswick.
Other gold projects include 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.
SEDAR: 00012459E
SOURCE
SLAM EXPLORATION LTD.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2017/14/c3270.html
%SEDAR: 00012459E
For further information:
Mike Taylor, President & CEO, Contact: 506-623-8960 [email protected]; Eugene Beukman, CFO, Contact: 604-687-
2038 [email protected]
CO: SLAM EXPLORATION LTD.
CNW 11:28e 14-FEB-17