SLAM Exploration Ltd. Launches Trenching Program At Goodwin
Targeting Potential Extensions Of Historic Copper Nickel ZonesSLAM Exploration Ltd. ("SLAM" or the "Company") (TSXV-SXL) announces that trenching is in progress 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. The Company is planning to mobilize a drilling rig for the phase 2 drilling program around October 9.
Trenching Targets: The Company is testing the Granges, Farquharson and Logan zones as well as other targets.
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The Granges Zone: SLAM intends to complete 4 trenches to test the strike extent of a 31.20 meter core interval grading 3.84% copper equivalent drilled in hole GW24-02.
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The Farquharson Zone: SLAM is planning to dig 4 trenches to test for potential extensions of a 60.60 meter core interval grading 1.17% copper equivalent drilled in hole GW24-03 as reported August 12, 2024
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The Logan Zone: The company plans a series of trenches to test for potential extensions to this historic copper nickel zone. A 6 meter core interval of massive sulphides with copper mineralization was reported in hole NO60-03 but assays were not included. Assays were reported for 7 later drill holes. Hole MM71-05B intersected a 16.95 meter core interval grading 0.37% copper and 0.44% nickel with individual core samples grading up to 0.72% copper and 1.05% nickel over 2.10 meters (these results predate NI43-101 regulations and can only be validated by additional drilling).
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Other Targets: Other targets include untested soil geochemical anomalies, MegaTEM conductors and magnetic anomalies that occur in the vicinity of the 3 known copper nickel zones shown on the map below.
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Figure 1 Goodwin Aeromagnetic Map, Diamond Drill Hole Collars
Video Interview: SLAM President & CEO Mike Taylor recently discussed the Goodwin copper nickel project in an interview by Gilbert Chan of NAI 500. To view the interview, click SLAM_NAI500_YouTube.
QA-QC Procedures: The Granges Zone and Farquharson Zone results described above 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 trenching and drilling.
About SLAM Exploration Ltd: SLAM Exploration Ltd. is a public resource company with a large portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. 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 m and 56.90 g/t gold over 0.5 m (news releases December 13, 2021 and November 22, 2022). The Company reported quartz float grading up to 39.2 g/t gold on its Jake Lee project in the vicinity of the Clarence Stream gold deposit where Galway Metals Inc. is working on a 2.3 M ounce gold deposit in southern New Brunswick.
The Company completed 3 diamond drill holes on the Goodwin copper nickel project in the BMC of New Brunswick. Highlights include a 60.60 meter core interval grading 1.17% copper equivalent in hole GW24-03, a 64.90 meter core interval grading 2.14% copper equivalent in hole GW24-02 and a 35 meter core interval grading 1.36% copper equivalent in hole GW24-01. Based on the drilling intercepts, the Company expanded the Goodwin Project which now comprises 194 units covering 4,239 hectares.
SLAM also owns the Mine Road copper zinc silver project adjacent to the former producing Heath Steele Mines property in the BMC. Successful diamond drill holes at Mine Road by previous workers include IL2014-003 with a 9-meter core interval grading 14.51% zinc, 5.86% lead, 0.67% copper and 139.9 g/t silver on the volcanogenic massive sulphide Railroad zone at Mine Road. (Doe Run Canadian Exploration ULC; 2015, New Brunswick Assessment Files, Report of Work 477877), The Railroad zone is 7,000 m 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 last 9 months as follows; $150,000 cash and 50,000 shares from S2 Minerals Inc. (STWO) on December 19, 2023 pursuant to the Reserve Creek gold agreement; 534,000 shares and 333,000 warrants (exercisable at $0.01) issued by Nine Mile Metals Inc. (NINE) on March 01, 2024 pursuant to the Wedge project agreement and $25,000 cash plus 2,500,000 shares of Lode Gold Resources Inc. (LOD) pursuant to the Ramsay gold agreement. The Company holds NSR royalties and expects additional cash and share payments on the Wedge copper zinc project and on 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 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.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
