SLAM Exploration Ltd. Drills 35 Meters Grading 1.25% Copper Equivalent
Assays Up To 6.86% Copper and 3.31 g/t Gold Over 0.5 MetersSLAM Exploration Ltd. ("SLAM" or the "Company") (TSXV-SXL) announces assay results from the first hole including a core interval grading 1.93% copper equivalent over 16.20 meters in hole GW24-01. This interval includes individual assays ranging up to 6.86% copper over 0.50 meters and 3.31 grams/tonne ("g/t") gold over 0.50 meters cut by diamond drill hole GW24-01. GW24-01 is one of 3 holes recently drilled on SLAM's wholly owned Goodwin claims located 5 kilometers southwest of the Half Mile copper zinc silver deposit in the Bathurst Mining Camp of New Brunswick.
| From | To | Length | Copper | Nickel | Gold | Cobalt | Silver | Copper % | |
| Meters | Meters | Meters | % | % | g/t | % | g/t | Equivalent | |
| 22.50 | 57.50 | *35.00 | 0.45 | 0.39 | 0.11 | 0.03 | 4.31 | 1.36 | |
| 24.80 | 41.00 | *16.20 | 0.65 | 0.52 | 0.19 | 0.04 | 6.70 | 1.93 | |
| 24.80 | 25.30 | **0.50 | 1.31 | 0.85 | 3.31 | 0.06 | 27.30 | 8.35 | |
| 32.30 | 36.30 | *4.00 | 1.38 | 1.01 | 0.10 | 0.08 | 8.74 | 3.59 | |
| 35.80 | 36.30 | **0.50 | 6.86 | 0.76 | 0.27 | 0.06 | 39.20 | 9.00 | |
| *Weighted Average | **Individual Sample | ||||||||
| Copper equivalent calculated from metal prices posted July 26th 2024 on Daily Metal Price. | |||||||||
These assay results are from 38 samples of core samples sawn from hole GW24-01 and delivered to ALS Chemex Inc. ALS Chemex analyzed all the samples with ME-ICP41 and PGM-ICP23 methods.
Assays are pending on 98 samples that represent 141.4 meters of sawn core from hole GW24-02 including 31.80 meters of pyrrhotite-chalcopyrite mineralization. Assays are also pending on 78 samples that represent 112.5 meters of sawn core from hole GW24-03 including 58 meters of 15% pyrrhotite mineralization. According to previous workers, pyrrhotite mineralization at Goodwin generally contains nickel.
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QA-QC Procedures: Core samples were delivered from the drill to a secure logging facility in Bathurst, New Brunswick. After logging, samples were sawn using a diamond blade saw. Sawn half-core samples were collected in bags, labelled with sample tags and delivered to ALS Chemex Ltd. in Moncton New Brunswick. SLAM inserted standards and blanks into the sample series. ALS Chemex analyzed all samples using the multi-element analyses using their methods ME-ICP41 and PGM-ICP23.
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 recently drilled 3 diamond drill holes on the Goodwin copper nickel project in the Bathurst Mining Camp ("BMC") of New Brunswick. The first hole GW24-01 intersected a 35 meter core interval grading 1.36% copper equivalent and assays are pending on 176 samples from the other 2 holes. 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 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