The following news came out minutes ago. I was expecting better results and as such I have decided to sell my position. I no longer hold any stock. There are over 30 pending holes but in my experience good results breed good results and in this case bad results breed bad results. I was expecting higher grades and larger intercepts.
DISCLAIMER: I sold my entire position. Any suggestions, opinions, or forward-looking statements found on The_Primed_Report are my own and are not professional investment advice. Please do your own due diligence, consult an investment advisor and invest accordingly. Also note that while I frequently indicate my original stock purchase I rarely indicate trades and or final sales of any stock. You are solely responsible for your own trading activity.
2013-01-11 10:21 ET – News Release
Mr. Mike Taylor reports
SLAM REPORTS DIAMOND DRILLING GOLD ASSAYS
Slam Exploration Ltd. has released assay results for initial diamond drill holes from the 2012 program at its wholly owned Menneval gold project in New Brunswick. Gold-bearing quartz veins were intersected in 8 of 10 holes with grades ranging up to 28.50 g/t gold over 0.25 m. Assay results for selected holes are summarized in the table below.
The drilling program has traced the vein system over a 520 m strike length and to a depth of 25 m. Drill hole locations are shown at https://www.slamresources.com/projects/new-brunswick/menneval. The target vein was identified in a trenching program from which the Company reported numerous sites of visible gold with bonanza grade assays as it traced the vein system over a 700 m strike length in 2012. Assay results are pending from holes MG1211 to MG1247. Photos of selected drill core with visible gold can be viewed on the company’s website.
Hole_ID From_m To_m Interval_m Au_g/tMG1201 5.83 6.08 0.25 28.50MG1202 13.85 14.25 0.40 8.41MG1203 17.93 18.68 0.75 6.93MG1204 3.00 3.10 0.10 8.60MG1206 11.50 12.90 1.40 0.60MG1208 6.00 6.10 0.10 5.04MG1209 9.30 9.45 0.15 1.49MG1210 11.00 11.60 0.60 1.15The intervals are core lengths. True thickness may vary.
Qualifying Statements:
SLAM Project Manager Sara Lloyd, P.Geo. 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 samples were split or sawn and sent to Activation Labs in Ancaster, Ontario for analysis. Activation Labs analyzed the samples by fire assay with AA finish followed by fire assay with gravimetric finish for gold values above 3.0 g/t. The Company used blank and standard samples for quality assurance and control.
About The Menneval Project:
SLAM holds 100% interest in 8 contiguous claims covering 30,820 hectares all acquired by map-staking near Menneval in northwest New Brunswick. Four (4) of the claims covering 692 hectares are subject to a 1.5% NSR. SLAM can buy down 0.5% NSR for C$0.5M and has right of first refusal on remaining 1%. The extensive property hosts a number of new gold discoveries including the Maisie zone. It also covers 3 previously discovered silver-base metal skarn deposits where exploration programs date back to 1965.
We seek Safe Harbor.