SLAM Discovers New Massive Sulphide Zone ASSAYS PENDING
SLAM Discovers New Massive Sulphide
Zone
ASSAYS PENDING
TSXV: SXL
MIRAMICHI, NB, Aug. 7, 2018 /CNW/ - SLAM Exploration Ltd.
("SLAM" or the "Company" on TSXV: SXL) is pleased to announce a
new massive sulphide discovery in its first hole on the Portage project
in the Bathurst Mining Camp ("BMC") of New Brunswick. Diamond
drill hole PZ-18-01 drilled into a zone of massive sulphide
mineralization over a core length of 1.35 m at a depth of 147 m. The
mineralized core interval comprises 80% sulphides, mainly pyrite with
visible zinc and lead mineralization. This new VMS discovery occurs
in the Boucher Brook formation 120m above the Portage zone. It is
open down-dip and along strike. Assays are pending.
Below the new discovery, hole PZ18-01 intersected volcanic rocks
including a dyke and fault where the Portage zone was expected at
280m. The hole was drilled to a final depth of 340 m. Hole PZ18-02
was collared at a site 120 m north and drilled to 302 m. It intersected
weakly mineralized volcano-sedimentary rocks that correlate with the
Portage zone at a depth of 270m. This completes the 642 m drilling
phase of its initial exploration program on the Portage project.
The Portage zone 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 wide 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. Mineralized core intervals occur in 15 of the 21 historic diamond
drill holes drilled on the Portage zone. The zone is open down-dip to
the west and that direction is the focus of the drilling program.
Since the new discovery of mineralized float announced July 19, 2018,
the Company expanded and re-grouped its Portage claims. The
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 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: Drill core was logged 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. 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 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.
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ml
%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 10:55e 07-AUG-18