MIRAMICHI, NEW BRUNSWICK--(Marketwired - April 14, 2016) -SLAM Exploration Ltd. (TSX VENTURE:SXL) (the "Company") is pleased to announce results from three samples produced from shaker table tests on a 42 kg sample conducted at Mt. Baker Mining and Metals LLC as described in a news release issued by SLAM on March 7, 2016. The shaker table produced 100 grams of gold-bearing concentrate that requires further processing. In addition, the two samples collected from the tailings returned assays of 32.5 and 34.2 g/t gold.
In this test 4 separate products came through the 4 discharge ports on the shaker table. Ports # 1 and 2 produced 100 grams of concentrate with visible gold that requires panning or other form of refinement to quantify the gold. Port # 3 produced 250 grams of "fines" that could be described as muddy fine sand. Port # 4 produced approximately 42 kg of coarse sand "tailings". The fines collected from port # 3 returned an assay of 41.9 g/t gold. Two samples of tailings collected from port # 4 returned 32.5 and 34.2 g/t gold respectively. Visible gold was noted in the original material prior to processing but no samples were submitted for assay.
SLAM CEO Mike Taylor states: "One pass through a hammer-mill and shaker table produced a gold concentrate. With additional processing, much better recoveries can be expected. Results clearly show that the Maisie deposit contains high grade gold that is amenable to gravity-based processing."
In addition to gold, the tailings samples were analyzed for 31 elements and were tested for acid generating properties. The base metal, arsenic and sulfur numbers as well as the acid generating potential all appear relatively low but will be further evaluated.
All permits are in place to allow bulk sampling from the Maisie gold deposit during summer, 2016. This work will proceed under a License of Occupation that authorizes SLAM to extract and process a 2,000 tonne bulk sample and remain in effect for a two year period. No drilling or blasting is required for this program. The excavated material will be processed using equipment similar to that shown in a video atwww.slamexploration.com and described in our previous news release. No chemicals will be used in the process. The purpose is to develop environmentally sustainable techniques to extract gold, provide an estimate of the grade of the Maisie deposit and demonstrate the potential for longer term mining operations.
Analytical Procedures: The samples were shipped to Activation Laboratories Ltd. ("Actlabs") at 41 Bittern Street, Ancaster, Ontario. Actlabs analyzed the samples using Aqua Regia ICP for 31 elements, Fire Assay AA for gold. Actlabs also tested under their "Code 11 ABA" for Acid Base Accounting to determine the potential acid-generating properties of the tailings and fines.
About The Menneval Project: SLAM holds 100% interest in 12 contiguous claims that cover 5,000 hectares acquired by map-staking near Menneval in northwest New Brunswick. The property hosts a number of recent gold discoveries including the Maisie deposit and Zone 9. Click on the SLAM website at www.slamexploration.com for more detailed information and to view a video of the grinding and gold concentration process at Mt. Baker.
About Mt. Baker Mining and Metals LLC: Mt. Baker specializes in designing and manufacturing custom small scale hardrock mills and mining equipment designed for the recovery of fine gold and other dense materials using gravity methods. To learn more about jaw crushers, hammer mills and gold shaker tables, visitwww.mbmmllc.com or contact Mt. Baker by phone 360-595-4445 or email mbmmllc@gmail.com.
About SLAM Exploration Ltd:
SLAM is a project generating resource company with a portfolio of gold and base metal projects in eastern Canada. The Menneval gold project resulted from the discovery of the Maisie gold deposit by SLAM's advance scouting team in 2012. Other gold projects include the Reserve Creek and Miminiska gold projects in Ontario. SLAM also owns a base metal portfolio that includes the Superjack (formerly Nepisiguit) and Nash Creek zinc-lead-copper-silver deposits. Additional information about SLAM and its projects is available at www.slamexploration.comor from SEDAR filings at www.sedar.com. Follow us on twitter @SLAMGold.
Qualifying Statements: Mike Taylor, P.Geo. President and CEO of SLAM Exploration Ltd., as the Qualified Person, supervised the sample preparation and approves the scientific and technical disclosure in the news release.
Certain information in this press release may constitute forward-looking information, including statements that address the Private Placement, the closing of the Private Placement, future production, reserve potential, exploration and development activities and events or developments that the Company expects. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.