SLAM Discovers 12.6% Zinc, 12.9% Lead & 133 G/T Silver Over 1.35m Core Length
NEW MASSIVE SULPHIDE DISCOVERY IN THE BATHURST MINING CAMP
TSXV: SXL
MIRAMICHI, NB, Sept. 25, 2018 /CNW/ - SLAM Exploration Ltd. ("SLAM" or the "Company" onTSXV: 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.
Mike Taylor, President & CEO, Contact: 506-623-8960, [email protected]; Eugene Beukman, CFO, Contact: 604-687-2038, [email protected]
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