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Hole GWW24-03 Cuts 1.17% Copper Equivalent Over 60.60 Meter Core Interval
August 12, 2024 – TheNewswire - Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (“SLAM” or the “Company”) (TSXV-SXL) announces it drilled a 60.60 meter core interval grading 1.17% copper equivalent from 72.90 meters to 133.50 meters in hole GW24-03. This interval is located 900 meters to the southeast of a 64.90 meter core interval grading 2.19% copper equivalent in hole GW24-02 that was reported August 7, 2024. GW24-03 is one of 3 holes drilled on SLAM’s wholly owned Goodwin claims located 5 kilometers southwest of the Half Mile copper zinc silver deposit in the Bathurst Mining Camp of New Brunswick.
|
From |
To |
Length |
*Copper |
*Nickel |
*Gold |
*Cobalt |
*Silver |
*Copper % |
|
Meters |
Meters |
Meters |
% |
% |
g/t |
% |
g/t |
Equivalent |
|
72.90 |
133.50 |
60.60 |
0.39 |
0.35 |
0.01 |
0.04 |
1.37 |
1.17 |
|
80.50 |
127.50 |
47.00 |
0.42 |
0.41 |
0.01 |
0.05 |
1.32 |
1.33 |
|
80.50 |
110.50 |
30.00 |
0.45 |
0.44 |
0.01 |
0.05 |
1.36 |
1.45 |
|
99.40 |
109.00 |
9.60 |
0.62 |
0.48 |
0.01 |
0.06 |
2.00 |
1.71 |
|
*Weighted Averages. **The core lengths are drilled core intervals and may not represent the true width of this zone. |
||||||||
|
Copper equivalent calculated from metal prices posted August 5th, 2024 on Daily Metal Price and https://www.kitco.com/ . |
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The Company drilled hole GW24-03 to test the Farquharson zone as shown on Figure 1 below. The Farquharson zone was discovered by previous workers in 1960 and approximately 30 holes were drilled by a series of companies during the 1960’s and early 1970’s. The drilling pattern suggests that a significant mineral zone was encountered but this historic drilling is not well documented.
The Company also drilled a 64.90 meter core interval grading 2.19% copper equivalent in hole GW24-02 as reported August 7, 2024. Hole GW24-02 was drilled to test the Granges zone at a site 900 meters to the northwest of hole GW24-03 and was drilled beneath hole GW24-01 as shown on Figure 1. The red dot at this site represents the probable location of the hole GR87-41 which was the 1987 discovery hole for the Granges zone. Holes GR87-41, GW24-01 and GW24-02 were drilled at azimuths of 045, 060 and 080 degrees respectively.
Figure 1
Click Image To View Full Size
Click Image To View Full Size
QA-QC Procedures: Core was collected from the drill in trays and delivered to a secure logging facility in Bathurst, New Brunswick. After logging, a total of 78 samples were sawn from 112.5 meters of core from hole GW24-03 using a diamond blade. Sawn half-core samples were collected in bags, labelled with sample tags and delivered to ALS Chemex Ltd. in Moncton New Brunswick. SLAM inserted standards and blanks into the sample series. ALS Chemex analyzed all samples for multi-elements using their methods ME-ICP41 and PGM-ICP23.
About SLAM Exploration Ltd: SLAM Exploration Ltd. is a public resource company with a large portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. 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 m and 56.90 g/t gold over 0.5 m (news releases December 13, 2021 and November 22, 2022). The Company reported quartz float grading up to 39.2 g/t gold on its Jake Lee project in the vicinity of the Clarence Stream gold deposit where Galway Metals Inc. is working on a 2.3 M ounce gold deposit in southern New Brunswick.
The Company completed 3 diamond drill holes on the Goodwin copper nickel project in the Bathurst Mining Camp (“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 and a 35 meter core interval grading 1.36% copper equivalent in hole GW24-01. Based on the drilling intercepts, the Company expanded the Goodwin Project which now comprises 194 units covering 4,239 hectares.
SLAM also owns the Mine Road copper zinc silver project adjacent to the former producing Heath Steele Mines property in the BMC. Successful diamond drill holes at Mine Road by previous workers include IL2014-003 with a 9-meter core interval grading 14.51% zinc, 5.86% lead, 0.67% copper and 139.9 g/t silver on the volcanogenic massive sulphide Railroad zone at Mine Road. (Doe Run Canadian Exploration ULC; 2015, New Brunswick Assessment Files, Report of Work 477877), The Railroad zone is 7,000 m 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 last 9 months as follows; $150,000 cash and 50,000 shares from S2 Minerals Inc. (STWO) on December 19, 2023 pursuant to the Reserve Creek gold agreement; 534,000 shares and 333,000 warrants (exercisable at $0.01) issued by Nine Mile Metals Inc. (NINE) on March 01, 2024 pursuant to the Wedge project agreement and $25,000 cash plus 2,500,000 shares of Lode Gold Resources Inc. (LOD) pursuant to the Ramsay gold agreement. The Company holds NSR royalties and expects additional cash and share payments on the Wedge copper zinc project and 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.
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 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.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
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