Syd's SLAM SummaryMany of you may have seen this blog this week but it's kind of a suiting wrap up to the week. Great summary of SLAM's properties by sydenham. When you see all the properties, results, etc. together it gives you a great feel for the potential of this co. And these are just the properties that will receive or have received work to date. From what I've seen on their website there's about another 6-10 more properties.
"With Tuesday's release of the latest hole in SXL's Ontario gold drilling program, the co. and its shareholders must be pleased with the success rate shown. Of the 4 different properties drilled in the Pickle Lake area, 3 showed impressive grades and or widths of gold mineralization to date. Those properties include:
Reserve Creek: 30 m of 5.48 g Au/t (incl. 5.4m of 10 g, 6 m of 7.3 g, 1.4 m of 34 g, 0.3 m of 107 g)
Miminiska Lake: 7.2 m of 9.47 g Au/t gold (incl. 64.1 grams per tonne gold over 1 m)
Keezhik Lake: 22 g Au/t over 1.5 m
Reserve Creek's third hole assays are still awaited.
It is also expected that exploration updates be provided shortly on several of their properties. Of note:
The co. is currently mapping and sampling Silverjack silver-copper-zinc-lead project in preparation for trenching and drilling. Grab samples recently returned assays as high as 8.6% copper.
Trenching is to take place on Silverjack and Mitchell properties. The Silverjack property has produced quite favourable results in the past including a previous bulk sample that assayed 51.05 oz/ton (1750.3 g/t) silver, 14.3% lead and 10.2% copper from the Knowles vein. SXL will also be trenching/drilling the newly acquired Mitchell property which is adjacent to Nash Creek. The Mitchell property hosts a 1400 m magnetic trend that coincides with a copper zone that has provided surface samples up to 14% copper and 250g silver.
3000 m of drilling is to take place on Silverjack-Nash Creek deposit to further expand the resource of these combined properties that currently have over 9 million tonnes (silver-zinc-lead) outlined. This future open pit mine has an insitu value of over $600 MILLION. The deposit is open pit amenable with all infrastructure in place incl. power lines, highway and railway.
It's also worthy to note that both eResearch and Casey Research have both commented on the potential of an arrangement with Xstrata to feed their mill/smelter since operations at their Brunswick Mine only have 1 year left. Any expansion of our Nash-Silverjack resource adds to SLAM's value and appeal to Xstrata - financially, politically.
It is clear that our gold property drilling in Ontario has been a great success as investors in SLAM await the next moves in our current exploration program. Moves that will include work on our New Brunswick silver-zinc-lead deposit as well as possible follow up work in Ontario. "