RE: RE: Permagrin IIHere is "mallgirl's" post the very same day as mooreman. Suspicious? With some good editing the post was made to look different from "mooreman's". Only a master pumper can pump under 2 aliases and get away with it. Mooreman, you are a master!
This morning, SLAM Exploration (SXL; close 0.15) announced results from its recently drilled hole on its wholly owned Nash Creek silver-lead-zinc deposit located in New Brunswick. Hole NC-11-220 intersected 309 m of 12.71 g silver / tonne and a combined 2.29% lead-zinc. Within that 309 m intersection was a reported interval grading 16.4 g silver / tonne and 3.9 % combined lead-zinc over 145.5 m.
What's particularly significant is this hole represents a new zone beneath the previously outlined 9 million tonne NI 43 101 compliant silver-lead-zinc deposit. Implications for the potential increase in tonnage for the deposit are significant with the thicknesses intersected. This lower zone is open at depth and along strike so offers great potential to increase the resource considerably.
The company also awaits results of DMS Testing (Dense Media Separation) on ore from the Nash Creek deposit. Favourable results from this testing could improve the economics of mining as well as extend the life of a future mine.
It's worth noting that the Nash Creek deposit is open pit amenable and has all infrastructure in place including a highway, rail lines, power lines that all transect the property. Two mills, a smelter and seaport are also within 90 km of the property.
The company has stated that Nash Creek will be a focus for the company in the upcoming spring / summer exploration season.
SLAM also awaits drill results from its wholly owned Reserve Creek gold project in the Pickle Lake area of Ontario where the company has been outlining its gold deposit in preparation for a future resource calculation. The results of 20 holes and up to 800 samples are highly anticipated by SXL shareholders. Previous intersections from the property are below:
RS 16: 16.85 of 16.45 g Au/t (within 48 m of 6.58 g Au/t)
RS 15: 30 m of 5.46 g Au/t
RS 21: 15 m of 9 g Au/t (grades up to 48 g Au/t)
RS 25: 19.7 m of 5 g Au/t (grades up to 27 g Au/t)
RS 26: 14.9 m of 7.33 g Au/t (grades up to 21 g Au/t)
SLAM currently has over $4 million in its treasury which will see it through its exploration programs over the next several months. It's also worth noting that Dominick and Dominick have been purchasing numerous shares (approx. 20 million) on the open market lately leading to much speculation.
Given the great promise of its two flagship properties (Reserve Creek and Nash Creek), both of which have potential to become mines, I believe SLAM Explorations (v.SXL) to be significantly undervalued at its current price of 0.15.
Lucky