SLAM & American Cobalt Sign Ramsay LOI American Cobalt Acquires Ramsay Cobalt Property From SLAM
SLAM & American Cobalt Sign Ramsay LOI
American Cobalt Acquires Ramsay Cobalt Property From SLAM
TSXV: SXL
MIRAMICHI, NB, March 15, 2018 /CNW/ - SLAM Exploration Ltd. (TSXV: SXL) ("SLAM") announces it
has signed a Letter Of Intent (LOI) with American Cobalt Corp ("ACC") that sets the terms for purchase of
the Ramsay Cobalt property by ACC. ACC can earn 100% interest in the Ramsay Cobalt Property by
completing a total of $500,000 in cash and 2,500,000 in share payments over a 2 year period. SLAM
retains a 2% NSR royalty of which ACC may buy down 1% NSR at any time for $1M. The proposed
Agreement and issuance of shares remain subject to the approval of the CSE. Slam Exploration will
continue to maintain obligations to underlying option holders other than certain royalties which will
become the responsibility of American Cobalt.
The 8-claim Ramsay cobalt property covers 2500 hectares 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. Well-developed infrastructure includes paved road access and nearby electric
power within a well-known mining camp administered by a mining friendly jurisdiction.
The Ramsay Cobalt Property: Previous operators identified cobalt and copper mineralization over a
650m strike length through trenching, geochemical and ground based geophysics followed by a limited
drilling program totaling 1321 meters. The mineralized zone remains open along strike and at depth.
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 typically occur within wider 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 0.19
Including 33.3 34.2 0.9 0.168 0.367
M04-02 24.9 35 10.1 0.073 0.023
Including 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
Including 43.0 47.8 4.8 0.019 0.352
Including 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 0.341
Including 32.5 34.5 2.0 0.031 0.808
M04-05 95.4 104.7 9.3 0.111 0.028
Including 102.7 103.7 1.0 0.597 0.011
M04-06 20.0 21.0 1.0 0.114 0.341
M04-06 36.0 130.0 94.0 0.097 0.035
Including 37.0 38.0 1.0 0.570 0.149
And 62.0 63.0 1.0 0.065 0.226
And 85.0 86.0 1.0 0.116 0.886
And 101.0 102.4 1.4 0.950 0.009
M04-07 64.0 68.0 4.0 0.161 0.037
M08-08 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
Source SLAM news release dated January 9, 2018.
Previous operators identified Cobalt and Copper mineralization over a 650m strike length through
trenching, geochemical and ground based geophysics and a limited drilling program totaling 1321
meters. The mineralized zone remains open along strike and at depth.
The above noted drilling results are drill core intervals. True widths were not reported.
ABOUT AMERICAN COBALT CORP: American Cobalt Corp. is a North American mineral exploration
and development business focusing on the burgeoning cobalt sector. The rapidly growing large battery
industry, a major consumer of cobalt, makes cobalt an appealing sector of focus. The Company seeks to
add shareholder value by sourcing and developing projects in safe, progressive jurisdictions adhering to
strict environmental and social standards.
ABOUT SLAM EXPLORATION LTD:
SLAM is a project generating company that holds an NSR royalty on the Coulee, Superjack and Nash
Creek zinc‐lead‐copper‐silver deposits and owns a portfolio of cobalt and base metal properties in the
Bathurst Mining Camp ("BMC") of New Brunswick. The Company intends to utilize its extensive BMC
mineral database to explore and develop properties in this historic mineral-rich region. Other projects
include the Menneval gold project and, in Ontario, the Reserve Creek gold project. 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.
QA-QC Procedures: The technical information 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.
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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%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 12:49e 15-MAR-18