Slam Exploration Ltd V.SXL

interesting read from another poster on slam

[grandich]

SLAM Explorations (SXL)



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posted on 5/14/2010 1:48:11 PM | 1949 reads | Post #103289
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Well, it seems that SLAM Exploration is no longer under the radar. Several developments have occurred in the past couple of weeks that have raised its profile. In particular, the company plans on drilling on 6 different properties in the next few weeks.
3 of its gold properties will be drilled, and 3 of its silver - base metal properties. A total program of 5000m is planned between the 2 groups. SXL is fully financed to carry out the work.
See below for project summary with past grades. Thanks hardspiker for the info.
The co. will be drilling its Nash Creek property. Typically 1/10th of the value of an insitu deposit is assigned to the stock. So, Nash Creek's insitu value is $750,000,000. 1/10th is $75,000,000. We've got about 125 mil shares outstanding so the insitu value (discounted by 90%) per share is approx. 0.60 per share.

So that's Nash Creek. Then when you also include our other properties, you start to get a sense how undervalued SXL is.
Fort Hope Gold Mine with a bulk sample of Fort Hope Gold Mine with a bulk sample of 8.8 ounces per ton (over 250 g gold)

Silverjack (Knowles Vein) with a 17 ton bulk sample grading 51.05 oz/ton (1750.3 g/t) silver, 14.3% lead and 10.2% copper
Opikeigan Lake - values up to Fort Hope Gold Mine with a bulk sample of 8.8 ounces per ton (over 250 g gold)

Reserve Creek - values up to 25 g gold per tonne
These properties are all going to be drilled in the coming weeks.
Add to these:
Costigan - another silver-zinc-silver-copper deposit similar to Nash
Nepisiguit - last hole intersected 11m of 30 g silver and 6% zinc
The co. also recently discovered rare earths.
With all the activity about to begin on these locations that have returned success in the past, the next few months should be quite interesting for SLAM shareholders.