Slam Discovers New Float Grading 8.64% Zinc SLAM Plans Drilling Program To Test Portage Zone
Slam Discovers New Float Grading 8.64% Zinc
SLAM Plans Drilling Program To Test Portage Zone
SLAM 39,000 Hectare Spread In The BMC (CNW Group/SLAM Exploration Ltd.)
TSXV: SXL
MIRAMICHI, NB
,
July 19, 2018
/CNW/ -
SLAM Exploration Ltd.
("
SLAM
" or the "
Company
"
on
TSXV: SXL
) is pleased to announce assay results ranging up to 8.64% zinc and 15.1% lead from a
series of volcano-sedimentary boulders spread over
1,200 m
along a prominent ridge 3.5 km south
of the Portage zone. Preliminary trenching has uncovered favourable volcano-sedimentary rock units
and previous surveys indicate a number of untested airborne electromagnetic anomalies in the
vicinity of this prospecting discovery. Assay results for 6 grab samples from selected boulders are
shown in the following table:
Sample
Copper %
Lead %
Zinc %
Silver g/t
1239023
0.020
0.395
1.610
2
1239024
0.039
0.090
8.640
1
1239025
0.035
0.077
7.580
1
1239026
0.076
0.227
5.900
2
1239027
0.035
15.100
3.640
185
1239028
0.177
0.178
0.056
3
SLAM dug several preliminary trenches in the vicinity of the mineralized boulders. Trenching was
hampered by fairly deep overburden but did uncover volcanic and sedimentary strata that are the
likely source of the mineralized float. Similar Tetagouche Group rocks host SLAM's Portage zone as
well as Trevali's
Restigouche
deposit both located nearby in the northwest corner of the Bathurst
Mining Camp.
This initial stage of SLAM's 2018 exploration program is expected to culminate in drilling on the
Portage zone which is open down-dip and along strike to the northeast. This volcanogenic massive
sulphide occurrence was discovered by previous workers in 1976. To date, drilling by previous
workers has roughly outlined a zone with dimensions of
450 m
along strike,
250 m
down-dip and up
to
60 m
thick. 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 that averages 3.27% zinc 0.52% lead and 0.30%
copper at a depth of
100m
in hole CP77-57. Mineralized core intervals occur in 15 of the 21 historic
diamond drill holes drilled on the Portage zone. The zone is open down-dip and that direction will be
the focus of the proposed drilling program.
Since the new discovery of mineralized float, the Company expanded and re-grouped its Portage
claims. The expanded Portage property now 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
where the Company now
owns 39,000 hectares of mineral land.
$50,000
NBJMAP Grant:
The Company has been awarded a grant of
$50,000
under the New
Brunswick Junior Mining Assistance Program ("NBJMAP") in support of the proposed Portage drilling
program.
QA-QC Procedures:
The assay results described above pertain to 6 samples collected from
boulders. The samples were submitted to AGAT Laboratories of
Mississauga Ontario
for analysis
using the Sodium Peroxide Fusion method with ICP-OES/ICP-MS Finish( AGAT method "201-378").
The Company relies on AGAT for its QA-QC procedures in the lab. Other technical information
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 project-generating 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 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.
View original content with multimedia:
http://www.newswire.ca/en/releases/archive/July2018/19/c8031.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 11:05e 19-JUL-18