3.9 kg/t Gold PLUS...
The focus for SXL is now clearly on advancing exploration at Menneval where, as we know days ago they announced the discovery of 40 new gold bearing quartz veins assaying up to 3995 g/t gold (128 oz/t) or 3.9 kg/t gold. This is in addition to 14 veins discovered back in October as well as the original Maisie Vein.
Having said that, it’s important to note that the company has over 20 properties (24, I believe), as well as a few additional properties that have farmed out using a “project generator model”, optioning them for cash and/or shares of the optionee.
Some of their own other key properties include:
Lewis Brook – SXL reacquired this silver property this summer. Past intersections have assayed up to 2.2m of 1227 g/t silver (yes, over 1 kg of silver) as well as 3.6 m of 347 g/t silver.
Patapedia - acquired this property last summer that has produced past, narrow intersections assaying up to 10.5% copper, 143 g/t silver and 1 g/t gold.
Mount Uniacke – is a historic gold producer in Nova Scotia. Production only occurred down to 75m in depth. The company reacquired this property early this past summer. They have stated they’d like to drill 4 holes testing gold bearing horizons at depth below old workings.
Reserve Creek – Ontario high grade gold property near and dear to me. Past intersections include 16.9 m of 16.45 g/t gold incl. values up to 274 g/t gold over 0.5m.
As I said, there’s no doubt the focus is clearly on Menneval moving forward; but given the portfolio of properties that SXL has, many of which have produced significant results in the past, it’s clear that SLAM is undervalued at its current…ahem…$5 million market cap.
Enjoy your weekend.