SLAM Discovers New Zinc and Copper Mineralization SLAM Awarded $50,000 NBJMAP Assistance For Proposed Drilling Program
SLAM Discovers New Zinc and Copper
Mineralization
SLAM Awarded
$50,000
NBJMAP Assistance For Proposed Drilling Program
TSXV: SXL
MIRAMICHI, NB
,
June 21, 2018
/CNW/ -
SLAM Exploration Ltd.
("
SLAM
" or the "
Company
"
on
TSXV: SXL
) is pleased to announce the discovery of a series of volcano-sedimentary boulders with
zinc and copper mineralization 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. Assays are pending on samples from the mineralized boulders.
SLAM 38,000 hectare spread in the BMC (CNW Group/SLAM Exploration Ltd.)
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 38,000 hectares of mineral
land. The prospecting and trenching program is the initial stage of the 2018 exploration program at
Portage. The program is centered around the Portage volcanogenic massive sulphide occurrence
discovered by previous workers in 1976.
Mineralized core intervals occur in 15 of the 21 historic diamond drill holes drilled on the Portage
zone. Drilling has 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
25.30 m
core interval grading 3.27% zinc 0.52% lead and
0.30% copper including a
3.35m
core interval of 5.81% zinc 2.97% lead 0.61% copper at a depth of
100m
in hole CP77-57. The Company has located most of the historic sites including CP77-57 and is
conducting preliminary geological work and prospecting in preparation for a proposed drilling
program later this summer. The zone is open down-dip and that direction will be the focus of the
proposed drilling program.
$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.
About The Portage Property:
Based on the new prospecting discovery, the Company staked an
additional 325 hectare claim. The expanded Portage property now covers 5245 hectares comprising
4 mineral claims acquired through a prospector agreement 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 setting and style of mineralization at Portage is
similar to the
Restigouche
deposit.
QA-QC Procedures:
The 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/June2018/21/c8015.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 09:00e 21-JUN-18