TSXV: SXL
Ramsay Cobalt Property Expanded To 4884 Hectares
MIRAMICHI, NB, Jan. 22, 2018 /CNW/ - SLAM Exploration
Ltd. (TSXV: SXL) ("SLAM" or the "Company") is
pleased to announce acquisition by staking 2 additional claims
comprising 109 units. This increases SLAM cobalt holdings by
95% to cover 4884 hectares of volcano-sedimentary strata 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.
The new claims were staked to cover potential extensions of the
Ramsay cobalt occurrence suggested by the presence of anomalous
cobalt levels in steams sediments collected for previous government
surveys. Anomalous cobalt levels of 39 ppm, 75 ppm and 49 ppm were
detected 0.5, 6.0 and 9.0 km respectively northwest of the Ramsay
occurrence (arithmetic mean is 12 ppm and standard deviation is 5
ppm in a collection of 2160 stream sediment samples).
These claims follow previous acquisitions that combine to form
the Ramsay cobalt "Property" as disclosed in a news release issued
by the Company on January 9, 2018 as
well as releases on October 2 and 4,
2017. The Property is host to the Ramsay cobalt occurrence,
where 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 longer 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.
QA-QC Procedures: The drill hole data 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 32,000 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
continues 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.