SLAM Reports Gold Assays from Menneval
Channel Samples Range Up To 49.50 g/t Gold Over 0.45m
MIRAMICHI, NEW BRUNSWICK--(Marketwired - Nov 20, 2013) - SLAM Exploration Ltd. (TSX VENTURE:SXL) (OTCBB:SLMF) ("SLAM") is pleased to announce channel sample results from a section of the Maisie zone completed during the fall trenching program at its wholly owned Menneval gold project in New Brunswick. The channel sample stage of the program focused on the near‐surface portion of the Maisie zone that is accessible by trenching.
SLAM's exploration team cut 29 channel samples at 5 and/or 10 metre intervals. The samples are from 4 separate sections of the vein system and represent a strike length of 213 m. Visible gold occurs in 13 samples. The weighted average grade is 6.64 g/t gold over a thickness of 0.52 m. Assays range from 0.01 g/t over 0.64m to 49.506/t gold over 0.45 m.
| Table 1 Channel Sample Gold Assays | |||
| Trench_ID | Ordinate m | Width m | Gold g/t |
| MN13‐16 | 6.00 | 0.38 | 0.53 |
| MN13‐16 | 9.50 | 0.30 | 2.16 |
| MN13‐16 | 24.00 | 0.61 | 0.64 |
| MN13‐16 | 47.00 | 0.77 | 1.48 |
| MN13‐16 | 38.00 | 0.30 | 4.13 |
| MN13‐16 | 53.00 | 0.75 | 1.77 |
| MN13‐16 | 65.00 | 1.00 | 5.17 |
| MN13‐16 | 71.00 | 0.40 | 0.92 |
| MN13‐16 | 76.00 | 0.55 | 30.10 |
| MN13‐16 | 81.50 | 0.42 | 13.80 |
| MN13‐16 | 100.00 | 0.30 | 0.93 |
| MN13‐16 | 110.00 | 0.40 | 0.97 |
| MN13‐16 | 122.00 | 0.46 | 10.30 |
| MN13‐16 | 128.00 | 0.25 | 5.57 |
| MN13‐16 | 134.00 | 0.48 | 31.70 |
| MN13‐16 | 139.00 | 0.80 | 10.00 |
| MN13‐17 | 5.00 | 0.60 | 2.21 |
| MN13‐18 | 38.00 | 0.10 | 0.03 |
| MN13‐19 | 19.80 | 0.34 | 6.06 |
| MN13‐19 | 26.00 | 0.62 | 0.01 |
| MN13‐19 | 34.00 | 1.20 | 8.64 |
| MN13‐19 | 44.00 | 0.80 | 5.95 |
| MN13‐19 | 60.00 | 0.45 | 49.50 |
| MN13‐19 | 65.00 | 1.60 | 1.58 |
| MN13‐19 | 109.50 | 0.25 | 0.51 |
| MN13‐19 | 130.50 | 0.60 | 0.15 |
| MN13‐19 | 135.50 | 0.72 | 1.50 |
| MN13‐21 | 3.00 | 0.46 | 0.44 |
| MN13‐21 | 8.00 | 0.54 | 6.02 |
| MN13‐21 | 21.00 | 0.50 | 10.50 |
| MN13‐24 | 1.00 | 0.09 | 0.37 |
| MN13‐26 | 14.00 | 0.25 | 3.02 |
| MN13‐26 | 19.00 | 0.22 | 0.98 |
| MN13‐26 | 24.00 | 0.30 | 3.51 |
The table above summarizes all 29 samples that were cut from the vein. The wallrock adjacent to the vein was also sampled. Footwall samples range from 0.01 g/t over 0.3 m to 2.38 g/t gold over 0.7 m. Hanging wall samples range from 0.01 g/t over 0.3 m to 1.32 g/t gold over 0.6 m.
The Company plans to extract a bulk sample for additional laboratory and mill testing. The bulk sample would confirm the grade and be used for metallurgical testing in preparation for a mining lease application. The 2012 trenching and drilling program indicated a 700 m potential strike length and a depth extension of at least 40 m for the Maisie zone. Future drilling programs will be required to define the Maisie zone along strike and at depth.
About The Menneval Project: SLAM holds 100% interest in 8 contiguous claims that cover 12,000 hectares acquired by map‐staking near Menneval in northwest New Brunswick. The property hosts 2 gold deposits, the Maisie gold zone and Zone 9. Click on the SXL website at http://www.slamresources.com/projects/new‐brunswick/menneval for more detailed information. Photos of drill core with visible gold can be viewed at http://www.slamresources.com/core‐shack/.
Qualifying Statements: Mike Taylor, P.Geo. President and CEO of SLAM Exploration Ltd., is the Qualified Person responsible for the technical information contained herein. Samples were cut at 5 and 10 m intervals along the Maisie zone. The samples were sent to Activation Labs in Ancaster, Ontario for analysis by fire assay with AA finish. This is followed by fire assay with gravimetric finish for gold values above 3.0 g/t.
About SLAM Exploration Ltd:
SLAM is a mineral resource company currently focused on development of the bonanza grade Maisie gold zone at its wholly‐owned Menneval project in northwestern New Brunswick. The Company owns the Nepisiguit and Nash Creek silver‐base metal deposits, both NI 43‐101 compliant and located in New Brunswick. The Company also owns a significant gold portfolio in Ontario including the Reserve Creek gold deposit. 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.
On behalf of the Board
Mike Taylor, P. Geo. President & CEO
SEDAR: 00012459E
Certain information in this news release may constitute forward‐looking information. 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. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators available at www.sedar.com.
Neither the TSX‐V nor its Regulation Services Provider (as that term is defined in the policies of the TSX‐V) accepts responsibility for the adequacy or accuracy of this release.
Contact
SLAM Exploration Ltd.
Mike Taylor, P. Geo.
President & CEO
Direct: 506-627-1353 or Toll Free: 866.523.6719
miketaylor@slamexploration.com
www.slamexploration.com