NEW MASSIVE SULPHIDE DISCOVERY IN THE BATHURST MINING CAMP
TSXV: SXL
MIRAMICHI, NB, Sept. 25, 2018 /CNW/ - SLAM Exploration
Ltd. ("SLAM" or the "Company" on TSXV:
SXL) is pleased to announce assay results for its new massive
sulphide discovery announced August
7, 2018. Diamond drill hole PZ-18-01 drilled into a
zone of massive sulphide mineralization grading 12.61% zinc, 12.94%
lead, 0.21% copper and 133 g/tonne silver over a core length of
1.35 m. The company estimates
that the true width is approximately 1.2
m. Hole PZ18-01 is one of 2 holes drilled on SLAM's
Portage project in the Bathurst Mining Camp ("BMC") of New Brunswick.
The new VMS discovery occurs in the Boucher Brook formation at a
down-hole depth of 147 m. Below
that, hole PZ18-01 intersected the Portage zone with 3.38 m interval grading 1.38% zinc at a depth of
266 m and a 3.19 m interval grading 2.36% zinc at a depth of
279 m. Hole PZ19-02 also
drilled through the Portage zone with a 10
m interval grading 0.84% zinc at a down-hole depth of
267 m. Significant assays for
both holes are tabled below:
DDH
|
From
|
To
m
|
Core Length
m
|
Copper
%
|
Lead
%
|
Zinc
%
|
Silver
G/T
|
PZ18-01
|
146.06
|
148.42
|
2.42
|
0.13
|
7.49
|
8.74
|
84
|
Includes
|
147.07
|
148.42
|
1.35
|
0.21
|
12.94
|
12.61
|
133
|
PZ18-01
|
266.34
|
269.66
|
3.32
|
0.00
|
0.57
|
1.38
|
9
|
PZ18-01
|
279.31
|
282.50
|
3.19
|
0.00
|
0.06
|
2.36
|
4
|
PZ18-02
|
267.47
|
277.45
|
9.98
|
0.04
|
0.27
|
0.84
|
5
|
Hole PZ18-01 was drilled at a dip of 50 degrees to a final depth
of 340 m. Hole PZ18-02 was
collared at a site 120 m north and
drilled at a dip of 62 degrees to a depth of 302 m. These holes are 60 m lateral step-outs to the south and north
from the deepest historic Portage zone intercept drilled in hole
PL11-03 by previous workers in 2011. Hole PZ18-02 intersected
the Portage zone 50 m deeper than
this historic intercept. The company estimates that the
respective true widths are approximately equal to 90% of the core
intervals noted above based upon the attitude of the drill holes
toward the west-dipping strata as well as observed core
angles. These estimates are based upon data from only 2 drill
holes by SLAM but supported by historic data from previous
workers.
The Portage zone was discovered by previous workers in
1976. Early drilling results include a 3.35m core interval grading 5.81% zinc 2.97% lead
0.61% copper within a 25.30 m core
interval of volcanogenic stringer and massive sulphide
mineralization that averages 3.27% zinc 0.52% lead and 0.30% copper
in hole CP77-57. Both the new discovery and the Portage
zone remain open down-dip and along strike.
The expanded and re-grouped Portage property covers 7100
hectares comprising 4 mineral claims acquired through prospector
agreements and 4 mineral claims acquired by staking. The
property is accessible by logging roads and located 1 km south and
west of the Restigouche VMS deposit owned by Trevali Mining
Corp. The Portage zinc-lead-copper-silver property is SLAM's
flagship project in the Bathurst Mining Camp ("BMC") of
New Brunswick, Canada.
$50,000 NBJMAP Grant:
The Portage drilling program was supported in part by a grant of
$50,000 under the New Brunswick
Junior Mining Assistance Program ("NBJMAP"). The Company
wishes to thank the Province for this recognition of the Portage
project and its importance to the mining industry in New Brunswick.
QA-QC Procedures: SLAM's professional
team logged the core at the drill site. Selected core was
marked for sampling and delivered to a secure government facility
for sawing. The company inserted a blank and a standard into
the sample series. A total of 37 samples were shipped to AGAT
Laboratories of Mississauga,
Ontario for analysis. AGAT analyzed all 37 using
(201-378) Sodium Peroxide Fusion - ICP-OES/ICP-MS Finish.
Seven samples were also analyzed using (201-079) Sodium Peroxide
Fusion - ICP-OES Finish.
Technical information and previous drilling results referenced
in this news release derive from historic assessment reports that
predate NI43-101. The work was supervised and the historic
reports were written by qualified geologists familiar with mineral
exploration in New Brunswick.
About SLAM Exploration Ltd:
SLAM is a resource company
holding NSR royalties on the Ramsay cobalt property and on the
Superjack, Nash Creek and Coulee
zinc‐lead‐copper‐silver properties in the Bathurst Mining Camp
("BMC") of New Brunswick. The Company owns a portfolio of
base metal and cobalt properties and intends to combine technical
expertise with an extensive BMC mineral database to explore and
develop properties in this prolific mineral region. 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 this news release.
Certain information in this press release may constitute
forward-looking information, including statements that
address Private Placements, closing of Private Placements, future
production, reserve potential, exploration and development
activities and expected events or developments. 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.