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Goodwin Copper Nickel Project Expanded to Cover 11,450 Hectares
January 7, 2025 – TheNewswire - Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (“SLAM” or the “Company”) (TSXV-SXL) is pleased to announce the acquisition of 6 additional claims covering 7,400 hectares adjacent to its Goodwin project located 35 kilometers south of the Caribou Mine in the Bathurst Mining Camp of New Brunswick. This expansion of the Goodwin copper nickel project was based on the significant results reported from the first 7 holes drilled on the Farquharson and Granges zones in 2024. Assays are pending on the last 8 holes drilled on the Granges and Logan zones.
Figure 1 Total Field Aeromagnetic Anomalies (pink), Extech, 1995
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The Goodwin claims now cover a trend of aeromagnetic anomalies associated with gabbro intrusions that extend from the Bruce copper nickel occurrence westward for 25,000 meters as shown on the aeromagnetic map above (Figure 1). The new acquisition expands the Goodwin project to cover 11,450 hectares of prospective ground.
All 5 holes on the Farquharson zone intersected copper nickel mineralization over core intervals ranging from 46 meters to 75 meters and grades ranging from 0.75% to 1.26% copper equivalent as reported in previous news releases. The drilling plan map below (Figure 2) shows the hole locations and a graphical representation of the copper and nickel assays for each hole.
Figure 2 Farquharson Zone Drilling Plan Map
Hole GW24-04 was designed to intersect the zone at a shallower depth than hole GW24-03 in a 40 meter step ahead as shown in cross section form on Figure 3. The plan and section define the Farquharson zone over a strike length of 140 meters and to a downhole depth of 130 meters. As seen on the plan map and section, the best results were obtained from the deepest hole, GW24-03. The potential depth extension of the Farquharson zone beneath hole GW24-03 will be a priority target for the 2025 drilling campaign.
Figure 3 Farquharson Cross Section Holes GW24-03 & GW24-04
Assays are pending on 8 additional holes GW24-08 to GW24-15. This includes 5 holes on the Logan copper nickel zone and 3 holes on the Granges copper nickel zone. After hole GW24-15 was completed, the drill was demobilized to Bathurst.
Diamond Drilling At Menneval Gold Project: Slam Exploration mobilized the drill on December 2, 2024 to its wholly owned Menneval gold project where it drilled 2 holes for a total of 340 meters. Hole BG24-34 tested Zone 9 and intersected a 4.19 meter zone with 60% quartz-carbonate veins from 19.03 meters to 23.22 meters. This was included in .a 27.10 meter zone with 5 to 10% quartz veining from 5.50 meters to 32.60 meters. From 2% to 5% quartz veins occur from 32.60 meters to 58.55 meters. Minor quartz veins occur from 58.55 to the end of the hole at 188.00 meters.
Hole BG24-35 tested Zone 22 and intersected a 24.30 meter interval containing 5% quartz-calcite veins with fine pyrite from 66.90 meters to 91.20 meters. The hole stopped at 152 meters. The drill was then demobilized due to the onset of winter conditions. Gold assays are pending on 117 samples sawn from the 2 holes.
QA-QC Procedures: Core was collected from the drill in trays and delivered to a secure logging facility in Bathurst, New Brunswick. After logging, samples were sawn using a diamond blade. Sawn half-core samples were numbered, collected in bags, tagged 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. The Menneval core samples were handled in a similar fashion and delivered to Activation Laboratories Ltd. (Actlabs) in Fredericton for gold fire using assay method 1A2-30.
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. The Company has reported significant copper, nickel and cobalt intercepts from the first 7 diamond drill holes it completed on the Goodwin copper nickel project in the Bathurst Mining Camp (“BMC”) of New Brunswick. Highlights include a 64.90 meter core interval grading 2.14% copper equivalent in hole GW24-02 and a 60.60 interval grading 1.17% copper equivalent in hole GW24-03. Assays are pending on 8 additional holes drilled on the Logan and granges zones. Based on the drilling intercepts, the Company expanded the Goodwin Project to cover 11,450 hectares.
Gold assays are pending on 117 core samples sawn from 2 holes drilled by Slam on its wholly owned Menneval gold project and submitted for fire assay to Actlabs. SLAM has previously discovered multiple gold veins on its wholly owned Menneval gold project. The Company 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 in news releases on December 13, 2021 and November 22, 2022.
In 2023, 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.
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 received significant cash and share payments over the last 12 months as follows; 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 gold project.
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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