SLAM Exploration Ltd. Drills More Copper Mineralization at Goodwin
DRILLING CRITICAL ELEMENTS IN THE BATHURST MINING CAMSLAM Exploration Ltd. (TSXV-SXL) is pleased to report preliminary results from the second hole (GW24-02) drilled on its wholly owned Goodwin Project in the Bathurst Mining Camp (BMC) of New Brunswick. The Goodwin Project is located 5 kilometers southwest of the Half Mile copper zinc silver deposit owned by Trevali Mining Corporation in the BMC.
Hole GW24-02 highlights include a 0.50 meter core interval containing 20% chalcopyrite (copper mineralization) and a 5.1 meter interval containing 70% pyrrhotite and 5% chalcopyrite. This copper-bearing interval occurs within a zone of variable mineralization from 23.60 meters to 54.50 meters. GW24-02 was drilled from the same site as GW24-01 at a dip of 600 toward azimuth 0800 to a depth of 164 meters. Previous workers have shown that pyrrhotite commonly contains nickel at Goodwin. The summary log reads as follows:
| Interval Meters | Description | Mineralization |
| 0.00 - 6.00 | Casing | |
| 6.00 - 22.60 | Silicified tuff | 1% pyrrhotite |
| 22.60-25.00 | Mineralized tuff | 50% pyrrhotite,1-3% chalcopyrite (copper) |
| 25.00-27.40 | Mineralized tuff | 6% pyrrhotite |
| 27.40-28.75 | Mineralized tuff | 80% pyrrhotite |
| 28.75-29.5 | Mineralized tuff | 6% pyrrhotite |
| 29.50-30.00 | Mineralized tuff | 20% pyrrhotite, 20% chalcopyrite |
| 30.00-35.10 | Mineralized tuff | 70% pyrrhotite, 5% chalcopyrite |
| 35.10-37.05 | Mineralized tuff | 50% pyrrhotite |
| 37.05 | Fault zone | |
| 37.05-42.90 | Mineralized gabbro | 70% pyrrhotite, 1% chalcopyrite |
| 42.90-54.50 | Mineralized gabbro | 40% pyrrhotite, 1% chalcopyrite |
| 54.50-89.00 | Mineralized gabbro | 10% pyrrhotite, chalcopyrite traces |
| 72.55-72.85 | Porphyry dyke | |
| 89.00-164.00 | Gabbro | 1% pyrrhotite, chalcopyrite traces |
| 164.00 | End of Hole |
The core has been delivered to a secure facility in Bathurst New Brunswick for detailed logging and sampling.
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Goodwin Project Highlights: Logging and sampling are in progress on diamond drill hole GW24-01 and GW24-02 Both holes tested the Granges zone where previous workers cored a 5.7 meter interval grading 1.79% copper plus 1.51% nickel in diamond drill hole GR87-55. The core length in meters may not equal the true width of this interval. Upon completion of GW24-02, the drill was moved to Hole GW-24-03 to test the Farquharson nickel zone at a point 900 meters southeast of the Granges zone. The Farquharson zone was discovered by Noranda in a 1960 drilling program.
The Goodwin Project consists of 8 original claims plus 5 recently optioned claims that combine for 159 units that cover 3,474 hectares of prospective mineral ground. The project is underlain by the Goodwin Lake gabbro, a 6,500 meter long body of intrusive rocks hosting the 3 copper nickel occurrences referenced above. Permits are in place for a trenching and drilling program to test for copper nickel mineralization as well as gold and platinum group metals. The Goodwin project is accessible by logging roads from the Fraser Burchill road off Route 430 which connects to the city of Miramichi 90 kilometers to the southeast.
QA-QC Procedures: The results described above are from news releases and reports that predate NI43-101 regulations. The numbers can only be validated by additional drilling but the Company deems these results to be useful to plan additional drilling. The core descriptions and the summary log for hole GW24-02 are based on visual observations of the core.
About SLAM Exploration Ltd: SLAM Exploration Ltd. a public resource company with a large portfolio of mineral claim holdings built around its wholly owned Menneval gold project in the mineral-rich province of New Brunswick. SLAM has discovered multiple gold veins at Menneval and previously 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 holds the Goodwin copper nickel project and the Mine Road VMS copper zinc silver project in the mineral rich Bathurst Mining Camp of New Brunswick. Previous workers discovered 3 copper nickel occurrences at Goodwin. Mineralized core intercepts were drilled including 1.79% copper plus 1.51% nickel over 5.7 meters in diamond drill hole GR89-55 on the Goodwin project.
Successful diamond drill holes 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 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 M tonne former producing Heath Steele B Zone.
The Company is a project generator and has received significant cash and share payments over the last 6 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