SLAM Receives Approval On Portage Zinc Acquisition TSX Venture Exchange Approves Zinc Deal In Bathurst Mining Camp
SLAM Receives Approval On Portage Zinc Acquisition
TSX Venture Exchange Approves Zinc Deal In Bathurst Mining Camp
MIRAMICHI, NB
,
Dec. 18, 2017
/CNW/ -
SLAM Exploration Ltd. (TSXV: SXL)
("
SLAM
" or the "
Company
") is pleased to announce the
TSX Venture Exchange has conditionally approved the agreement to acquire the Portage zinc-lead-copper-silver property that was announced by
news release
Nov 6
, 2017. The 3-claim Portage property comprises 38 claim units covering 827 hectares contiguous to mineral claims already
owned by SLAM. The Portage property now covers 3004 hectares accessible by logging roads and located 2 km from the Restigouche VMS
deposit owned by Trevali Mining Corp. in the Bathurst Mining Camp ("BMC") of
New Brunswick, Canada
.
The property is host to the Portage volcanogenic massive sulphide occurrence discovered by previous workers in 1976. Approximately 15
historic diamond drill holes have been drilled on or near this mineral occurrence. Significant early results include a
25.30m
core interval grading
3.27% zinc, 0.52% lead and 0.30% copper containing
3.35m
at 5.81% zinc, 2.97% lead and 0.61% copper in hole CP77-57. Mineralization
was detected over a strike length of
450 m
and to a depth of
250m
and is open at depth with potential for extensions along strike. The setting and
style of mineralization is similar to the
Restigouche
deposit located 4km to the northeast. SLAM's prospecting team has verified the locations of
previous drill holes and rates the Portage as a high priority, drill-ready zinc target.
Other BMC Properties:
Utilizing a technical database that covers the entire BMC, the Company has acquired 15 projects covering 29,000
hectares of mineral land in this mineral-producing district. These include the Portage, North Rim, Connector and Lower 44 zinc projects as well as
the Ramsay cobalt project.
QA-QC Procedures:
The technical information referenced in this news release is derived from historic assessment reports that predate NI43-
101. The work was supervised and the historic reports were written by well qualified geologists familiar with mineral exploration in New
Brunswick. SLAM intends to design its future drilling programs to verify and expand upon the reported results.
About SLAM Exploration Ltd:
SLAM is a project-generating resource company holding an NSR royalty on the Superjack,
Nash Creek
and Coulee zinc
lead
copper
silver
properties and owning a portfolio of base metal and cobalt properties in the Bathurst Mining Camp ("BMC") of New Brunswick. The Company
intends to utilize its extensive BMC mineral database to explore and develop properties in this historic region of mineral potential. 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 the 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/December2017/18/c8878.html
%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 12:24e 18-DEC-17