(TheNewswire)
DRILLING CRITICALELEMENTS IN THE BATHURST MINING CAMP
June 26 th , 2024, Miramichi, New Brunswick ? TheNewswire - SLAM Exploration Ltd.(TSXV-SXL) is pleased to report preliminaryresults from the second hole (GW24-02) drilled on its wholly owned Goodwin Project in the Bathurst Mining Camp(BMC) of New Brunswick. The Goodwin Project is located 5 kilometerssouthwest of the Half Mile copper zinc silver deposit owned by TrevaliMining Corporation in the BMC.
Hole GW24-02 highlights include a 0.50 meter coreinterval containing 20% chalcopyrite (copper mineralization) and a 5.1meter interval containing 70% pyrrhotite and 5% chalcopyrite. Thiscopper-bearing interval occurs within a zone of variablemineralization from 23.60 meters to 54.50 meters. GW24-02 was drilledfrom the same site as GW24-01 at a dip of 60 0 toward azimuth 080 0 to a depth of 164 meters.Previous workers have shown that pyrrhotite commonly contains nickelat Goodwin. The summary log reads as follows:
Interval Meters | Description | Mineralization |
0.00 - 6.00 | Casing | |
6.00 - 22.60 | Silicified tuff | 1% pyrrhotite |
22.60-25.00 | Mineralized tuff | 50% pyrrhotite,1-3% chalcopyrite (copper) |
25.00-27.40 | Mineralized tuff | 6% pyrrhotite |
27.40-28.75 | Mineralized tuff | 80% pyrrhotite |
28.75-29.5 | Mineralized tuff | 6% pyrrhotite |
29.50-30.00 | Mineralized tuff | 20% pyrrhotite, 20% chalcopyrite |
30.00-35.10 | Mineralized tuff | 70% pyrrhotite, 5% chalcopyrite |
35.10-37.05 | Mineralized tuff | 50% pyrrhotite |
37.05 | Fault zone | |
37.05-42.90 | Mineralized gabbro | 70% pyrrhotite, 1% chalcopyrite |
42.90-54.50 | Mineralized gabbro | 40% pyrrhotite, 1% chalcopyrite |
54.50-89.00 | Mineralized gabbro | 10% pyrrhotite, chalcopyrite traces |
72.55-72.85 | Porphyry dyke | |
89.00-164.00 | Gabbro | 1% pyrrhotite, chalcopyrite traces |
164.00 | End of Hole |
The core has been delivered to a secure facility inBathurst New Brunswick for detailed logging and sampling.
Goodwin Proje ct Highlights: Logging and sampling are in progress on diamond drill holeGW24-01 and GW24-02 Both holes tested the Granges zone where previousworkers cored a 5.7 meter interval grading 1.79% copper plus 1.51%nickel in diamond drill hole GR87-55. The core length in meters maynot equal the true width of this interval. Upon completion of GW24-02,the drill was moved to Hole GW-24-03 to test the Farquharson nickelzone at a point 900 meters southeast of the Granges zone. TheFarquharson zone was discovered by Noranda in a 1960 drillingprogram.
The Goodwin Project consists of 8 original claims plus5 recently optioned claims that combine for 159 units that cover 3,474hectares of prospective mineral ground. The project is underlain bythe Goodwin Lake gabbro, a 6,500 meter long body of intrusive rockshosting the 3 copper nickel occurrences referenced above. Permits arein place for a trenching and drilling program to test for coppernickel mineralization as well as gold and platinum group metals. TheGoodwin project is accessible by logging roads from the FraserBurchill road off Route 430 which connects to the city of Miramichi 90kilometers to the southeast.
QA-QC Procedures : The results described above are from news releases andreports that predate NI43-101 regulations. The numbers can only bevalidated by additional drilling but the Companydeems these results to be useful to plan additional drilling. The coredescriptions and the summary log for hole GW24-02 are based on visualobservations of the core.
About SLAM Exploration Ltd: SLAM Exploration Ltd. a public resource companywith a large portfolio of mineral claim holdings built around itswholly owned Menneval gold project in the mineral-rich province of NewBrunswick. SLAM has discovered multiple gold veins at Menneval andpreviously reported gold bearing core intervals including 162.5 g/tgold over 0.2 m and 56.90 g/t gold over 0.5 m (news releases December13, 2021 and November 22, 2022). The Company reported quartz floatgrading up to 39.2 g/t gold on its Jake Lee project in the vicinity ofthe Clarence Stream gold deposit where Galway Metals Inc. is workingon a 2.3 M ounce gold deposit in southern New Brunswick.
T he Company holds the Goodwincopper nickel project and the Mine Road VMS copper zinc silver projectin the mineral rich Bathurst Mining Camp of New Brunswick. Previousworkers discovered 3 copper nickel occurrences at Goodwin. Mineralizedcore intercepts were drilled including 1.79% copper plus 1.51% nickelover 5.7 meters in diamond drill hole GR89-55 on the Goodwin project.
Successful diamond drill holes by previous workersinclude 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 Railroad zone atMine Road. (Doe Run Canadian Exploration ULC; 2015, New BrunswickAssessment Files, Report of Work 477877), The Railroad zone is 7,000 meast of the 20 M tonne former producing Heath Steele B Zone.
The Company is a project generator and has receivedsignificant cash and share payments over the last 6 months as follows;$150,000 cash and 50,000 shares from S2 Minerals Inc. (STWO) onDecember 19, 2023 pursuant to the Reserve Creek gold agreement;534,000 shares and 333,000 warrants (exercisable at $0.01) issued byNine Mile Metals Inc. (NINE) on March 01, 2024 pursuant to the Wedgeproject agreement and $25,000 cash plus 2,500,000 shares of Lode GoldResources Inc. (LOD) pursuant to the Ramsay gold agreement. TheCompany holds NSR royalties and expects additional cash and sharepayments on the Wedge copper zinc project and on the Ramsay, ReserveCreek 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 ExplorationLtd., is a qualified person as defined by National Instrument 43-101,and has approved the contents of this news release.
Certain information in this pressrelease may constitute forward-looking information, includingstatements regarding mineralresources and the Company’s plans with respect to the explorationand development of its properties . This information is based on current expectations that are subjectto significant risks and uncertainties that are difficult to predict. Actualresults might differ materially from results suggested in anyforward-looking statements.The Company assumes no obligation to update the forward-lookingstatements, or to update the reasons why actual results could differfrom those reflected in the forward looking-statements unless anduntil required by securities laws applicable to the Company. There area number of risk factors that could cause future results to differmaterially from those described herein. Information identifying risksand uncertainties is contained in the Company's filings with theCanadian securities regulators, which filings are availableat www.sedarplus.ca . Neither theTSXV nor its Regulation Services Provider (as that term is defined inthe policies of the TSXV) accepts responsibility for the adequacy oraccuracy of this release.
CONTACT INFORMATION:
Mike Taylor, President & CEO
Contact: 506-623-8960 mike@slamexploration.com
Eugene Beukman, CFO
Contact: 604-687-2038 ebeukman@pendergroup.ca SEDAR+:00012459
Copyright (c) 2024 TheNewswire - All rights reserved.