Additional work planned in 2011
SLAM Exploration Ltd. (TSXV: SXL) ("SLAM") announces results from its recently completed drilling program on its Silverjack property in New Brunswick. The final target was the Doyle copper-silver zone where hole SJ11-41 intersected a 1.33m interval grading 2.33% copper and 43 g/t silver at a depth of 108.1m. This was flanked by an interval at 64.47m containing 1.0% copper and 13 g/t silver over 0.6m and by an interval at 6.6m containing 1.32% copper and 54 g/t silver over 0.55m.
The Doyle copper-silver zone is hosted within sediments and limestones similar to the high grade Silverjack deposit 1,000m to the east. SLAM previously reported high grade drilling results ranging up to 653 g/t (19.05 oz/ton) silver, 2.69% copper, 11.9% zinc and 9.8% lead (news release 16 February, 2010) at Silverjack.
SLAM drilled 2884m in a 22 hole program begun in the fall of 2010. In addition to hole SJ11-41 beneath the Doyle zone, this program included 14 holes in proximity to the Silverjack deposit. These holes define the near surface Silverjack zone over a strike length of 200m. An additional 7 holes drilled on a variety of geochemical and geophysical targets indicate the widespread presence of copper, silver, lead and/or zinc mineralization to the south and west of Silverjack. The Company plans additional work in 2011 to test for extensions to the Silverjack copper-silver-lead-zinc zone and the Doyle copper-silver zone.
Assays are pending on results from the Reserve Creek gold project where drilling is currently in progress on hole RS11-46. Assays are also pending from a deep hole drilled at the Nash Creek lead-zinc-silver project.
Derek F. Brown, P.Geo., Consultant, is the Qualified Person responsible for the technical information contained herein. Drill cores were delivered from the drill to a secure site for logging and sampling. Selected drill cores were split or sawn and one half sent to Activation Laboratories. Activation Labs analyzed the samples using code 8AR for silver, copper, zinc, lead and code Ultratrace 2 for multi-elements on selected samples. The Company used blank and standard samples for quality assurance and control.
About Silverjack: The recently expanded Silverjack property comprises 160 wholly owned mineral claims plus 13 claims under option for a total of 3715 hectares. The property is 4 kilometres from the Belledune smelter and seaport and is adjacent to SLAM's Nash Creek property comprised of 406 mineral claims covering 6,496 hectares. The Company was awarded a provincial grant of $35,000 under the New Brunswick Junior Mining Assistance Program to support the 2010 drilling program. Additional information about Silverjack can be viewed at: www.slamresources.com/projects/new-brunswick/silverjack.
About SLAM Exploration Ltd: SLAM is a mineral resource company based in Miramichi, New Brunswick and is actively exploring for gold in Ontario and silver-copper-lead-zinc in New Brunswick. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
On behalf of the Board
Mike Taylor, P. Geo. President & CEO SLAM Exploration Ltd. SEDAR: 00012459E
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration and development activities and events or developments that SLAM expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward looking statements. Please see our public filings at www.sedar.com for further information.
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SOURCE: SLAM EXPLORATION LTD.