SLAM DRILLING 1200 METERS NORTHWEST OF HOLE GW24-03 Consistent Mineral Zones drilled In Holes 50 Meters Apart
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TSXV: SXL
SLAM DRILLING 1200 METERS NORTHWEST OF HOLE
GW24-03
Consistent Mineral Zones drilled In Holes 50 Meters Apart
For Immediate Release November 1st, 2024
Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (“SLAM” or the “Company”)
(TSXV-SXL) is pleased to announce preliminary results from diamond drill holes GW24-08 and
GW24-09 on its wholly owned Goodwin project located 35 kilometers south of the Caribou mine
and mill complex in the Bathurst Mining Camp (“BMC”) of New Brunswick.
GW24-08 intersected two mineral zones over core lengths of 32.00 meters and 16.57 meters
respectively. Assays are pending on 82 samples sawn from this hole . This minerali zation is
similar to an interval grading 1.17% copper e quivalent over 60.60 m eters in GW24 -03 as
reported August 12, 2024 . Hole GW24-08 is located 1200 meters northwest of h ole GW24-03
and was designed to test the Logan zone. The summary log reads as follows:
Interval
Meters
Core Length
Meters
Description Hole GW24-08
Mineralization
0.00–15.00 15.00 Casing
15.00-62.60 47.60 Mafic Volcanic <1% Sulphides
62.60-94.60 32.00 Mineral Zone-gabbro 15% to 25% Sulphides
94.60-99.80 5.20 Mafic Volcanic 2% Sulphides
99.80-116.37 16.57 Mineral Zone-gabbro 15% to 20% Sulphides
116.37-182.00 65.63 Basalt / Gabbro 2-4% Sulphides
182.00 End Of Hole
GW24-09 is mineralized from top to bottom over a core length of 284 meters. Highlights include
a 36.63 meter mineral zone from 62.71 meters to 99.34 meters, a 33.36 meter zone from 110.48
meters to 144.32 meters and a 1.24 meter massive sulphide zone from 144.32 meters. Assays are
pending on 123 samples sawn from this hole . Hole GW24 -09 is a 50 meter step out to the
southeast of GW24-08. Holes GW24-08 and GW24-09 were both drilled into the Logan zone at
a dip of -50 degrees toward an azimuth of 060 degrees and spaced 50 meters apart. The summary
log reads as follows:
Interval
Meters
Core Length
Meters
Description Hole GW24-09
Mineralization
0.00–3.00 3.00 Casing
3.00-44.89 41.89 Gabbro 3-5% Sulphides
2
44.89-62.71 17.82 Mafic Volcanic 2% Sulphides
62.71-99.34 36.63 Mineral Zone-gabbro 15% Sulphides
99.34-110.48 11.14 Mafic Tuff 3% Sulphides
110.48-130.00 19.52 Mineral Zone-gabbro 15% Sulphides
130.00-144.32 14.32 Mafic Volcanic 8% Sulphides
144.32-145.56 1.24 Massive Sulphides 85% Sulphides
145.56-284.00 138.44 Gabbro 1-3% Sulphides
284.00 End Of Hole
Figure 1 shows the Goodwin drilling plan over a background of gradient aeromagnetics.
Diamond drill hole GW24-08 is 1200 meters northwest of hole GW24-03. After hole GW24-09,
the drill was moved 700 meters south to test the Granges zone.
Figure 1 Aeromagnetic Gradient, Diamond Drilling Plan
Click SLAM_NAI500_YouTube to view SLAM President & CEO Mike Taylor discuss ing the
Goodwin copper nickel project in a recent interview with Gilbert Chan of NAI 500.
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Figure 2 Diamond Drill Core GW24-09
QA-QC Procedures: The core was delivered to a secure facility in Bathurst New Brunswick for
detailed logging and sampling. The core descriptions and the summary log for hole s GW24-08
and GW24-09 are based on visual observations of the core. The results for holes GW24 -01 to
GW24-03 were previously reported by SLAM in news releases dated between July 30, 2024 and
August 12, 2024. The historic results from previous workers are derived from New Brunswick
assessment files that predate NI43-101 regulations. They can only be validated by additional
drilling.
About SLAM Exploration Ltd: SLAM Exploration Ltd. is a public resource company with a
substantial portfolio of mineral claim holdings in the mineral -rich province of New Brunswick.
The Company recently completed three diamond drill holes on the Goodwin cop per-nickel
project in the BMC of New Brunswick. Highlights include:
A 60.60-meter core interval grading 1.17% copper equivalent in hole GW24-03
A 64.90-meter core interval grading 2.14% copper equivalent in hole GW24-02
Based on these drilling intercepts, the Company has expanded the Goodwin Project which now
comprises 194 units covering 4,239 hectares. Drilling resumed on October 10, 2024.
SLAM has discovered multiple gold veins on its wholly owned Menneval gold project. The
Company has reported gold -bearing core intervals, including 162.5 g/t gold over 0.2 meters and
56.90 g/t gold over 0.5 meters (news releases dated December 13, 2021, and November 22,
2022). Additionally, the Company reported quartz float grading up to 39.2 g/t gold on its Jake
Lee project, located near the Clarence Stream gold deposit, where Galway Metals Inc. is working
on a 2.3-million-ounce gold deposit in southern New Brunswick.
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SLAM also owns the Mine Road copper -zinc-silver project, adjacent to the former producing
Heath Steele Mines property in the BMC. Previous workers have reported successful diamond
drill holes at Mine Road, including IL2014 -003, which intersecte d a 9 -meter core interval
grading 14.51% zinc, 5.86% lead, 0.67% copper, and 139.9 g/t silver in the volcanogenic
massive sulphide Railroad Zone (Doe Run Canadian Exploration ULC; 2015, New Brunswick
Assessment Files, Report of Work 477877). The Railroad Z one is located 7,000 meters east of
the 20-million-tonne former producing Heath Steele B Zone.
The Company is a project generator and has received significant cash and share payments over
the past year. The Company holds NSR royalties and expects additional cash and share payments
from the Wedge copper -zinc project and the Ramsay, Reserve Creek, and Opikeigen gold
projects.
To view SLAM’s corporate presentation, click SXL-Presentation. Additional information is
available on SLAM’s website and on SEDAR+ at www.sedarplus.ca. Follow us on X
@SLAMGold.
Qualifying Statements: Mike Taylor P.Geo, President and CEO of SLAM Exploration Ltd., is a
qualified person as defined by National Instrument 43 -101, and has approved the contents of this
news release.
Certain information in this press release may constitute forward -looking information, inc luding
statements regarding mineral resources and the Company’s plans with respect to the exploration and
development of its properties. 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 tho se 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 identify ing risks and uncertainties is contained in the Company's filings
with the Canadian securities regulators, which filings are available at www.sedarplus.ca. 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.
CONTACT INFORMATION:
Mike Taylor, President & CEO
Contact: 506-623-8960 [email protected]
Eugene Beukman, CFO
Contact: 604-687-2038 [email protected] SEDAR+: 00012459