SLAM Acquires Lithium Property
Lithium Mineral Claims Acquired By Staking
MIRAMICHI, NEW BRUNSWICK--(Marketwired - Jul 6, 2016) - SLAM Exploration Ltd. (TSX VENTURE:SXL) (the "Company") is pleased to announce it has staked a property referred to as the Cumberland Lithium Project comprising seven mineral claims that are prospective for lithium and related minerals in southeastern New Brunswick.
The six mineral claims comprise 65 claim units that cover 1457 hectares. The claims are underlain by salt bearing formations including two salt deposits known from previous oil well drilling. The salt deposits are up 6 kilometres in diameter and 500 metres thick. Chemical and geological characteristics of these salt formations suggest they are of non-marine origin and that they may contain lithium-bearing minerals and brines. In a previous regional soil geochemical survey, a sample from beneath the property contained 81 ppm lithium, more than twice the background of other samples in the survey.
About SLAM Exploration Ltd: SLAM is a project generating resource company with a portfolio of gold and base metal projects in eastern Canada. The Menneval gold project resulted from the discovery of the Maisie gold deposit by SLAM's advance scouting team in 2012. Other gold projects include the Reserve Creek and Miminiska gold projects in Ontario. SLAM holds an NSR royalty on the Superjack and Nash zinc-lead-copper-silver deposits. 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.
Contact
Corporate Inquiries
Mike Taylor, President & CEO
506-623-8960
mike@slamexploration.com
Eugene Beukman, CFO
604-687-2038
ebeukman@pendergroup.ca