TSX Venture Exchange Approves Zinc Deal In Bathurst Mining
Camp
MIRAMICHI, NB, Dec. 18, 2017 /CNW/ - SLAM Exploration
Ltd. (TSXV: SXL) ("SLAM" or the "Company") is
pleased to announce the TSX Venture Exchange has conditionally
approved the agreement to acquire the Portage
zinc-lead-copper-silver property that was announced by news release
Nov 6, 2017. The 3-claim
Portage property comprises 38 claim units covering 827 hectares
contiguous to mineral claims already owned by SLAM. The
Portage property now covers 3004 hectares accessible by logging
roads and located 2 km from the Restigouche VMS deposit owned by
Trevali Mining Corp. in the Bathurst Mining Camp ("BMC") of
New Brunswick, Canada.
The property is host to the Portage volcanogenic massive
sulphide occurrence discovered by previous workers in 1976.
Approximately 15 historic diamond drill holes have been drilled on
or near this mineral occurrence. Significant early results include
a 25.30m core interval grading 3.27%
zinc, 0.52% lead and 0.30% copper containing 3.35m at 5.81% zinc, 2.97% lead and 0.61% copper
in hole CP77-57. Mineralization was detected over
a strike length of 450 m and to a
depth of 250m and is open at depth
with potential for extensions along strike. The setting and
style of mineralization is similar to the Restigouche deposit located 4km to the
northeast. SLAM's prospecting team has verified the locations
of previous drill holes and rates the Portage as a high priority,
drill-ready zinc target.
Other BMC Properties: Utilizing a technical
database that covers the entire BMC, the Company has acquired 15
projects covering 29,000 hectares of mineral land in this
mineral-producing district. These include the Portage, North
Rim, Connector and Lower 44 zinc projects as well as the Ramsay
cobalt project.
QA-QC Procedures: The technical information referenced in
this news release is derived from historic assessment reports that
predate NI43-101. The work was supervised and the historic
reports were written by well qualified geologists familiar with
mineral exploration in New Brunswick. SLAM intends to design
its future drilling programs to verify and expand upon the reported
results.
About SLAM Exploration Ltd:
SLAM is a
project-generating resource company holding an NSR royalty on the
Superjack, Nash Creek and Coulee
zinc‐lead‐copper‐silver properties and owning a portfolio of base
metal and cobalt properties in the Bathurst Mining Camp ("BMC") of
New Brunswick. The Company intends to utilize its extensive
BMC mineral database to explore and develop properties in this
historic region of mineral potential. Other projects include
the Menneval gold project and the Reserve Creek and Miminiska gold
projects in Ontario. Additional information about SLAM and
its projects is available at www.slamexploration.com or 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, 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.
SOURCE SLAM Exploration Ltd.