- SLAM Exploration (SXL) has struck assays up to 3,955 grams of gold per tonne at its wholly owned Menneval gold project
- The Menneval gold project covers 10,460 hectares in New Brunswick
- Assay results range from 1.22 to 3,955 grams of gold per tonne over widths ranging from 0.04 to 0.12 metre thick
- The company said at least 40 additional quartz veins were discovered as well
- SLAM Exploration is down 4.76 per cent and is trading at 10 cents per share
SLAM Exploration (SXL) has struck 3,955 grams of gold per tonne at its wholly owned Menneval gold project in New Brunswick.
At the site, the resource company found a mineralized quartz vein intersected over a strike length of 114 metres with 12 sites of visible gold.
Gold was detected in all 17 samples collected from vein 18 which was traced over a strike length of 114 meters. Assay results range from 1.22 to 3,955 grams of gold per tonne over widths ranging from 0.04 to 0.12 metre thick.
The company said at least 40 additional quartz veins were discovered as well. The company also dug an additional five trenches and uncovered numerous quartz boulders, across the property's 10,460 hectares.
The exploration program is supported in part by a $30,000 contribution to the Menneval gold project under the New Brunswick Junior Mining Assistance Program.
According to the provincial government, The New Brunswick Junior Mining Assistance Program (NBJMAP) is a financial assistance program for private-sector Junior companies.
The province provides up to 50 per cent of eligible costs, within defined limits, for mineral exploration projects and is intended to increase the probability of finding economically viable mineral resources in New Brunswick.
The news follows and an impressive year-to-date trading on the market for Slam shares, which are up around 400 per cent on its share price in January.
After jumping on the results late last week, SLAM Exploration is currently down 4.76 per cent to C$0.10 per share at 10:15am EST.