SLAM Discovers 12.6% Zinc, 12.9% Lead & 133 G/T Silver Over 1.35m Core Length NEW MASSIVE SULPHIDE DISCOVERY IN THE BATHURST MINING CAMP
SLAM Discovers 12.6% Zinc, 12.9% Lead & 133 G/T Silver Over 1.35m Core
Length
NEW MASSIVE SULPHIDE DISCOVERY IN THE BATHURST MINING CAMP
TSXV: SXL
MIRAMICHI, NB, Sept. 25, 2018 /CNW/ - SLAM Exploration Ltd. ("SLAM" or the
"Company" on TSXV: SXL) is pleased to announce assay results for its new massive
sulphide discovery announced August 7, 2018. Diamond drill hole PZ-18-01 drilled into
a zone of massive sulphide mineralization grading 12.61% zinc, 12.94% lead, 0.21%
copper and 133 g/tonne silver over a core length of 1.35 m. The company estimates
that the true width is approximately 1.2 m. Hole PZ18-01 is one of 2 holes drilled on
SLAM's Portage project in the Bathurst Mining Camp ("BMC") of New Brunswick.
New Zinc-Lead-Silver Discovery. Hole PZ18-01 at 147.5 m depth. (CNW Group/SLAM
Exploration Ltd.)
The new VMS discovery occurs in the Boucher Brook formation at a down-hole depth of
147 m. Below that, hole PZ18-01 intersected the Portage zone with 3.38 m interval
grading 1.38% zinc at a depth of 266 m and a 3.19 m interval grading 2.36% zinc at a
depth of 279 m. Hole PZ19-02 also drilled through the Portage zone with a 10 m
interval grading 0.84% zinc at a down-hole depth of 267 m. Significant assays for both
holes are tabled below:
DDH From To m Core Length m Copper % Lead % Zinc % Silver G/T
PZ18-01 146.06 148.42 2.42 0.13 7.49 8.74 84
Includes 147.07 148.42 1.35 0.21 12.94 12.61 133
PZ18-01 266.34 269.66 3.32 0.00 0.57 1.38 9
PZ18-01 279.31 282.50 3.19 0.00 0.06 2.36 4
PZ18-02 267.47 277.45 9.98 0.04 0.27 0.84 5
Hole PZ18-01 was drilled at a dip of 50 degrees to a final depth of 340 m. Hole PZ18-
02 was collared at a site 120 m north and drilled at a dip of 62 degrees to a depth of 302
m. These holes are 60 m lateral step-outs to the south and north from the deepest
historic Portage zone intercept drilled in hole PL11-03 by previous workers in
2011. Hole PZ18-02 intersected the Portage zone 50 m deeper than this historic
intercept. The company estimates that the respective true widths are approximately
equal to 90% of the core intervals noted above based upon the attitude of the drill holes
toward the west-dipping strata as well as observed core angles. These estimates are
based upon data from only 2 drill holes by SLAM but supported by historic data from
previous workers.
The Portage zone was discovered by previous workers in 1976. Early drilling results
include a 3.35m core interval grading 5.81% zinc 2.97% lead 0.61% copper within a
25.30 m core interval of volcanogenic stringer and massive sulphide mineralization that
averages 3.27% zinc 0.52% lead and 0.30% copper in hole CP77-57. Both the new
discovery and the Portage zone remain open down-dip and along strike.
The expanded and re-grouped Portage property covers 7100 hectares comprising 4
mineral claims acquired through prospector agreements and 4 mineral claims acquired
by staking. The property is accessible by logging roads and located 1 km south and
west of the Restigouche VMS deposit owned by Trevali Mining Corp. The Portage zinc-
lead-copper-silver property is SLAM's flagship project in the Bathurst Mining Camp
("BMC") of New Brunswick, Canada.
$50,000 NBJMAP Grant: The Portage drilling program was supported in part by a
grant of $50,000 under the New Brunswick Junior Mining Assistance Program
("NBJMAP"). The Company wishes to thank the Province for this recognition of the
Portage project and its importance to the mining industry in New Brunswick.
QA-QC Procedures: SLAM's professional team logged the core at the drill
site. Selected core was marked for sampling and delivered to a secure government
facility for sawing. The company inserted a blank and a standard into the sample
series. A total of 37 samples were shipped to AGAT Laboratories of Mississauga,
Ontario for analysis. AGAT analyzed all 37 using (201-378) Sodium Peroxide Fusion -
ICP-OES/ICP-MS Finish. Seven samples were also analyzed using (201-079) Sodium
Peroxide Fusion - ICP-OES Finish.
Technical information and previous drilling results referenced in this news release
derive from historic assessment reports that predate NI43-101. The work was
supervised and the historic reports were written by qualified geologists familiar with
mineral exploration in New Brunswick.
About SLAM Exploration Ltd:
SLAM is a resource company holding NSR royalties on the Ramsay cobalt property and
on the Superjack, Nash Creek and Coulee zinc‐lead‐copper‐silver properties in the
Bathurst Mining Camp ("BMC") of New Brunswick. The Company owns a portfolio of
base metal and cobalt properties and intends to combine technical expertise with an
extensive BMC mineral database to explore and develop properties in this prolific
mineral region. 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 this
news release.
Certain information in this press release may constitute forward-looking information,
including statements that address Private Placements, closing of Private Placements,
future production, reserve potential, exploration and development activities and
expected events or developments. 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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/September2018/25/c2237.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 11:52e 25-SEP-18