Core Intervals to 14.51% Zinc, 5.86% Lead, 0.67% Copper and 139.9 g/t Silver
MIRAMICHI, New Brunswick, March 04, 2024 (GLOBE NEWSWIRE) -- SLAM Exploration Ltd. (TSXV-SXL) (“SLAM” or the “Company”) announces that CEO Mike Taylor is doing a presentation at The Atlantic Edge Investors Program at PDAC at 3:00 PM Tuesday, March 5 about SLAM’s Mine Road zinc copper silver acquisition reported in a news release September 6, 2023. The Mine Road project is host to 6 volcanic massive sulphide (“VMS”) occurrences spread over a 9.555 hectare group of mineral claims adjacent to the former producing Heath Steele mine in the mineral-rich Bathurst Mining Camp (“BMC”) of northern New Brunswick. For more information on the Atlantic Edge Program, click the Atlantic Edge Investors Program.
Historic Mine Road Drilling: Diamond drill hole IL2014-003 cored a 9 metre interval grading 14.51% zinc, 5.86% lead, 0.67% copper and 139.9 g/t silver on the Railroad zone. Diamond drill hole IL2018-01 intersected 7.0 meters of 0.9% copper on the Roche Trend, 5 kilometres southwest of the Railroad Zone. This drilling data is a small sample of the wealth of data resulting from $1,448,000 in exploration expenditures applied to the Mine Road project during the past 12 years. Current assessment work credits of $428,776 are available for future claim renewals.
Drill-Ready VMS Targets At Mine Road: The Railroad and Roche zones are open to test for potential extensions at depth and along strike. Other targets include the Island Lake, Captain West, Sandburn Brook and Brunsman VMS occurrences along with a number of untested airborne conductors and magnetic anomalies.
Infrastructure: The Mine Road project is located on the Mine Road (Route 430) which connects the former Heath Steele mine to the city of Miramichi 60 kilometres to the southeast. The claims are accessed from this paved road and a series of logging roads. Electric power is available from lines that connect Heath Steele to the New Brunswick power grid.
Mine Road Project: SLAM has acquired 3 additional mineral claims since acquisition of the Mine Road project. The expanded project now covers 9,555 hectares of mineral potential adjacent to the former producing Heath Steele mine property where 21 M tonnes were mined from 1957 to 1996. A total of 2,330 million pounds of zinc, 833 million pounds of lead, 446 million pounds of copper and 45 million ounces of silver were processed. (For reference, these numbers are derived from: McCutcheon, S.R. (compiler) 1997; Geology and massive sulphides of the Bathurst Camp, New Brunswick; Geological Association of Canada - Mineralogical Association of Canada, Joint Annual Meeting, Ottawa ’97, Field Trip B7, Guidebook, 85 p.)
About SLAM Exploration Ltd: SLAM holds a large portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. The flagship is SLAM’s wholly owned Menneval gold project in northern New Brunswick. SLAM has discovered multiple gold-bearing veins and previously reported gold bearing core intervals including 162.5 g/t gold over 0.2 m and 56.90 g/t gold over 0.5 m (news releases December 13, 2021 and Nov 22, 2022) The Company has also reported significant gold discoveries in southern New Brunswick on its Jake Lee and Highway projects in the vicinity of the Clarence Stream gold deposit where Galway Metals Inc. is working on a 2.3 M ounce gold deposit. The Highway project has demonstrated polymetallic potential with 10 known mineral occurrences that include zinc, silver, copper, cobalt, molybdenum and tin as well as gold.
The Company recently added the Mine Road zinc silver project to its base metal portfolio in the mineral rich Bathurst Mining Camp of New Brunswick. Previous workers drilled massive sulphide zones including with 2 massive sulphide intervals in hole IL2014-003 with a 9 metre core interval grading 14.51% zinc, 5.86% lead, 0.67% copper and 139.9 g/t silver and a 3 metre interval grading 6.57% zinc, 2.78% lead, 0.46% copper, and 68.1 g/t silver.
The Company holds NSR royalties and expects additional cash and share payments on the Wedge copper zinc project. SLAM also holds NSR royalties and may receive addition cash and share payments on 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.
QA-QC Procedures: The drilling results described above are from assessment reports by well established mining firms with assays from commercial laboratories. The assessment reports included a summary of QA-QC procedures and the Company deems these results to be reliable.
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, including 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 uncertaintiesthat are difficult to predict. Actual results might differ materially from results suggested in any forward-lookingstatements. 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.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]
