(TheNewswire)
Consistent Mineral Zones drilled In Holes 50 Meters Apart
November 1st, 2024 – TheNewswire - Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (“SLAM” or the “Company”) (TSXV-SXL) is pleased to announce preliminary results from diamond drill holes GW24-08 and GW24-09 on its wholly owned Goodwin project located 35 kilometers south of the Caribou mine and mill complex in the Bathurst Mining Camp (“BMC”) of New Brunswick.
GW24-08 intersected two mineral zones over core lengths of 32.00 meters and 16.57 meters respectively. Assays are pending on 82 samples sawn from this hole. This mineralization is similar to an interval grading 1.17% copper equivalent over 60.60 meters in GW24-03 as reported August 12, 2024.Hole GW24-08 is located 1200 meters northwest of hole GW24-03 and was designed to test the Logan zone. The summary log reads as follows:
|
Interval Meters
|
Core Length Meters
|
Description
|
Hole GW24-08
Mineralization
|
|
0.00–15.00
|
15.00
|
Casing
|
|
|
15.00-62.60
|
47.60
|
Mafic Volcanic
|
<1% Sulphides
|
|
62.60-94.60
|
32.00
|
Mineral Zone-gabbro
|
15% to 25% Sulphides
|
|
94.60-99.80
|
5.20
|
Mafic Volcanic
|
2% Sulphides
|
|
99.80-116.37
|
16.57
|
Mineral Zone-gabbro
|
15% to 20% Sulphides
|
|
116.37-182.00
|
65.63
|
Basalt / Gabbro
|
2-4% Sulphides
|
|
182.00
|
|
End Of Hole
|
|
GW24-09 is mineralized from top to bottom over a core length of 284 meters. Highlights include a 36.63 meter mineral zone from 62.71 meters to 99.34 meters, a 33.36 meter zone from 110.48 meters to 144.32 meters and a 1.24 meter massive sulphide zone from 144.32 meters. Assays are pending on 123 samples sawn from this hole. Hole GW24-09 is a 50 meter step out to the southeast of GW24-08. Holes GW24-08 and GW24-09 were both drilled into the Logan zone at a dip of -50 degrees toward an azimuth of 060 degrees and spaced 50 meters apart. The summary log reads as follows:
|
Interval Meters
|
Core Length Meters
|
Description
|
Hole GW24-09
Mineralization
|
|
0.00–3.00
|
3.00
|
Casing
|
|
|
3.00-44.89
|
41.89
|
Gabbro
|
3-5% Sulphides
|
|
44.89-62.71
|
17.82
|
Mafic Volcanic
|
2% Sulphides
|
|
62.71-99.34
|
36.63
|
Mineral Zone-gabbro
|
15% Sulphides
|
|
99.34-110.48
|
11.14
|
Mafic Tuff
|
3% Sulphides
|
|
110.48-130.00
|
19.52
|
Mineral Zone-gabbro
|
15% Sulphides
|
|
130.00-144.32
|
14.32
|
Mafic Volcanic
|
8% Sulphides
|
|
144.32-145.56
|
1.24
|
Massive Sulphides
|
85% Sulphides
|
|
145.56-284.00
|
138.44
|
Gabbro
|
1-3% Sulphides
|
|
284.00
|
|
End Of Hole
|
|
Figure 1 shows the Goodwin drilling plan over a background of gradient aeromagnetics. Diamond drill hole GW24-08 is 1200 meters northwest of hole GW24-03. After hole GW24-09, the drill was moved 700 meters south to test the Granges zone.
Click Image To View Full Size
Figure 1 Aeromagnetic Gradient, Diamond Drilling Plan
Click SLAM_NAI500_YouTube to view SLAM President & CEO Mike Taylor discussing the Goodwin copper nickel project in a recent interview with Gilbert Chan of NAI 500.
Figure 2 Diamond Drill Core GW24-09
QA-QC Procedures: The core was delivered to a secure facility in Bathurst New Brunswick for detailed logging and sampling. The core descriptions and the summary log for holes GW24-08 and GW24-09 are based on visual observations of the core. The results for holes GW24-01 to GW24-03 were previously reported by SLAM in news releases dated between July 30, 2024 and August 12, 2024. The historic results from previous workers are derived from New Brunswick assessment files that predate NI43-101 regulations. They can only be validated by additional drilling.
About SLAM Exploration Ltd: SLAM Exploration Ltd. is a public resource company with a substantial portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. The Company recently completed three diamond drill holes on the Goodwin copper-nickel project in the BMC of New Brunswick. Highlights include:
Based on these drilling intercepts, the Company has expanded the Goodwin Project which now comprises 194 units covering 4,239 hectares. Drilling resumed on October 10, 2024.
SLAM has discovered multiple gold veins on its wholly owned Menneval gold project. The Company has reported gold-bearing core intervals, including 162.5 g/t gold over 0.2 meters and 56.90 g/t gold over 0.5 meters (news releases dated December 13, 2021, and November 22, 2022). Additionally, the Company reported quartz float grading up to 39.2 g/t gold on its Jake Lee project, located near the Clarence Stream gold deposit, where Galway Metals Inc. is working on a 2.3-million-ounce gold deposit in southern New Brunswick.
SLAM also owns the Mine Road copper-zinc-silver project, adjacent to the former producing Heath Steele Mines property in the BMC. Previous workers have reported successful diamond drill holes at Mine Road, including IL2014-003, which intersected a 9-meter core interval grading 14.51% zinc, 5.86% lead, 0.67% copper, and 139.9 g/t silver in the volcanogenic massive sulphide Railroad Zone (Doe Run Canadian Exploration ULC; 2015, New Brunswick Assessment Files, Report of Work 477877). The Railroad Zone is located 7,000 meters east of the 20-million-tonne former producing Heath Steele B Zone.
The Company is a project generator and has received significant cash and share payments over the past year. The Company holds NSR royalties and expects additional cash and share payments from the Wedge copper-zinc project and the Ramsay, Reserve Creek, and Opikeigen gold projects.
To view SLAM’s corporate presentation, click SXL-Presentation. Additional information is available on SLAM’s website and on SEDAR+ at www.sedarplus.ca. Follow us on X @SLAMGold.
Qualifying Statements: Mike Taylor P.Geo, President and CEO of SLAM Exploration Ltd., is a qualified person as defined by National Instrument 43-101, and has approved the contents of this news release.
Certain information in this press release may constitute forward-looking information, including statements regarding mineral resources and the Company’s plans with respect to the exploration and development of its properties.This information is based on current expectations that are subject to significant risks and uncertaintiesthat are difficult to predict. Actual results might differ materially from results suggested in any forward-lookingstatements. 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.sedarplus.ca. 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.
CONTACT INFORMATION:
Mike Taylor, President & CEO
Contact: 506-623-8960 mike@slamexploration.com
Eugene Beukman, CFO
Contact: 604-687-2038 ebeukman@pendergroup.ca SEDAR+: 00012459
Copyright (c) 2024 TheNewswire - All rights reserved.