SLAM Launches Zinc Drilling Program SLAM Drilling To Test Portage Zone
SLAM Launches Zinc Drilling Program
SLAM Drilling To Test Portage Zone
TSXV: SXL
MIRAMICHI, NB
,
July 24, 2018
/CNW/ -
SLAM Exploration Ltd.
("
SLAM
" or the "
Company
"
on
TSXV: SXL
) announces that a diamond drilling rig has been mobilized to its Portage project. The
Company has designed a program of approximately 3 holes to test for potential volcanogenic
massive sulphide ("VMS") mineralization down-dip beneath the Portage zinc occurrence (the
"Portage zone").
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:
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.
View original content: http://www.newswire.ca/en/releases/archive/July2018/24/c5775.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 13:00e 24-JUL-18