Ramsay Cobalt Property Expanded To 2500 Hectares
TSXV: SXL
MIRAMICHI, NB, Jan. 9, 2018 /CNW/ - SLAM Exploration Ltd.
(TSXV: SXL) ("SLAM" or the "Company") is pleased
to announce the acquisition of the Ramsay cobalt properties has
been approved by the TSX Venture Exchange. These acquisitions were
disclosed in news releases issued by the Company on October 2nd and 4th.
The 2 properties combine with additional claims staked by the
Company to form the 8-claim Ramsay cobalt property. It covers
2500 hectares located on highway 180 approximately 25 km west of
the Caribou mine operated by Trevali Mining Corp. in the Bathurst
Mining Camp ("BMC") of New Brunswick,
Canada.
Nine holes were drilled on the Ramsay cobalt property by
previous workers in 2004. Reported intervals include
0.8m grading 0.956% cobalt within a
4.8m core interval grading 0.352%
cobalt. Such higher grade zones typically occur within wider
core intervals ranging to 24.8 m
grading 0.180% cobalt and 0.182% copper. Significant core
intervals from all nine holes are summarized in the table
below:
DDH
|
From
|
To
|
Length
|
Cu %
|
Co%
|
M04-01
|
13.8
|
14.9
|
1.1
|
0.849
|
0.024
|
M04-01
|
33.3
|
36.3
|
3.0
|
0.213
|
0.190
|
M04-01
|
33.3
|
34.2
|
0.9
|
0.168
|
0.367
|
M04-02
|
24.9
|
35
|
10.1
|
0.073
|
0.023
|
M04-02
|
32.6
|
33.1
|
0.5
|
0.160
|
0.245
|
M04-03
|
23.9
|
24.4
|
0.5
|
0.160
|
0.010
|
M04-04
|
24.0
|
48.8
|
24.8
|
0.182
|
0.180
|
M04-04
|
43.0
|
47.8
|
4.8
|
0.019
|
0.352
|
M04-04
|
45.0
|
47.8
|
2.8
|
0.037
|
0.721
|
M04-04
|
48.8
|
50.5
|
1.7
|
0.990
|
0.018
|
M04-05
|
11.0
|
12.9
|
1.9
|
0.469
|
0.044
|
M04-05
|
28.4
|
34.5
|
6.1
|
0.052
|
0.314
|
M04-05
|
32.5
|
34.5
|
2.0
|
0.031
|
0.808
|
M04-05
|
95.4
|
104.7
|
9.3
|
0.111
|
0.028
|
M04-05
|
102.7
|
103.7
|
1.0
|
0.597
|
0.011
|
M04-06
|
20.0
|
21.0
|
1.0
|
0.114
|
0.314
|
M04-06
|
36.0
|
130.0
|
94.0
|
0.097
|
0.035
|
M04-06
|
37.0
|
38.0
|
1.0
|
0.570
|
0.140
|
M04-06
|
62.0
|
63.0
|
1.0
|
0.065
|
0.226
|
M04-06
|
85.0
|
86.0
|
1.0
|
0.116
|
0.886
|
M04-06
|
101.0
|
102.4
|
1.4
|
0.950
|
0.009
|
M04-07
|
64.0
|
68.0
|
4.0
|
0.161
|
0.037
|
M04-08
|
5.5
|
10.0
|
4.5
|
0.040
|
0.008
|
M04-08
|
54.0
|
58.0
|
4.0
|
0.195
|
0.035
|
M04-09
|
10.0
|
16.0
|
6.0
|
0.070
|
0.019
|
The above noted drilling results are drill core intervals. True
widths were not reported.
Correction: The SLAM news release dated
October 4, 2017 incorrectly stated
"The new 2-claim property comprises 5 claim units covering 131
hectares…." This should have read "The new 2-claim property
comprises 6 claim units covering 131 hectares…."
QA-QC Procedures: The technical information referenced in
this news release derive from two assessment reports written by a
qualified person in 2004. The reports document the sawing of
core and sampling procedures and include copies of the assay
certificates for the drilling program. The assays were done
using the ICP70 method by SGS Canada Inc. of Toronto, Ontario.
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.
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.