SLAM Drills 87 Meter Sulphide Zone
Logan Zone Core Interval From 128.3 Meters to 215.6 Meters November 26th - Miramichi, New Brunswick ? SLAM Exploration Ltd. ("SLAM" or the "Company") (TSXV-SXL) is pleased to announce it has drilled an 87 meter zone of mineralization in hole GW24-15. This hole is located 50 meters southeast of hole GW24-14 on the Logan zone. Both holes hit zones of pyrrhotite with visible copper mineralization in some intervals. These are the latest results from Slam's wholly owned Goodwin Project located 35 kilometers south of the Caribou mine and mill complex in the Bathurst Mining Camp ("BMC") of New Brunswick.
Hole GW24-15 intersected a 73 meter zone of 8 to 12% sulphides followed by a 14 meter zone of 30 to 40% sulphdes. Logging and sampling are in progress. GW24-15 is a 50 meter step out to the southeast of hole GW24-14. The preliminary log is tabled below:
| Hole Number | From-To Meters | Interval Meters | Description | Mineralization |
| GW24-15 | 0.00-4.50 | 4.50 | Casing | |
| GW24-15 | 4.50-28.20 | 23.70 | Gabbro | 1-3% Sulphides |
| GW24-15 | 28.20-29.68 | 1.48 | Mineralized Mafic Dyke | 20-30 Sulphides |
| GW24-15 | 29.68-41.10 | 11.42 | Gabbro | 1-3% Sulphides |
| GW24-15 | 41.10-44.20 | 3.10 | Mafic Dyke | 3-5% Sulphides |
| GW24-15 | 44.20-76.20 | 32.00 | Gabbro | 1-3% Sulphides |
| GW24-15 | 76.20-98.55 | 22.35 | Mafic Volcanic ("MV") | 1-3% Sulphides |
| GW24-15 | 98.55-116.00 | 17.45 | Mineralized MV | 10-20% Sulphides |
| GW24-15 | 116.00-128.33 | 12.33 | Gabbro | 6-8% Sulphides |
| GW24-15 | 128.33-201.21 | 72.88 | Mineralized Gabbro/MV | 8-12% Sulphides |
| GW24-15 | 201.21-207.32 | 6.11 | Mineralized Gabbro | 10-20% Sulphides |
| GW24-15 | 207.32-208.70 | 1.38 | Massive Sulphides | 80-90% Sulphides |
| GW24-15 | 208.70-210.50 | 1.80 | Mineralized MV | 8-12% Sulphides |
| GW24-15 | 210.50-211.30 | 0.80 | Semi-Massive Sulphides | 70-80% Sulphides |
| GW24-15 | 211.30-212.83 | 1.53 | Mineralized MV | 8-12% Sulphides |
| GW24-15 | 212.83-213.33 | 0.50 | Massive Sulphides | 80-90% Sulphides |
| GW24-15 | 213.33-215.60 | 2.27 | Mineralized MV | 10-15% Sulphides |
| GW24-15 | 215.60-226.95 | 11.35 | Mafic Volcanic | 1-3% Sulphides |
| GW24-15 | 226.95-341.00 | 114.05 | Gabbro | 1-3% Sulphides |
| GW24-15 | 341.00 | End of Hole |
Figure 1 show the mineral zone comprised mainly of pyrrhotite with visible copper mineralization from 200 meters to 215 meters in diamond drill hole GW24-15. To our knowledge, this mineralization is deeper than any previously reported mineralization at Goodwin.
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Figure 1 GW24-15 Core Interval 200 to 215 Meters
Figure 2 shows the Logan zone drilling plan. Assays are pending on holes GW24-08, GW24-09, GW24-13 and GW24-14. These 4 holes were drilled at a dip of 50 degrees and an azimuth of 060. Logging and sampling are in progress on hole GW24-15 which was drilled at a dip of 60 degrees toward azimuth 060. All 5 holes are shown below on an aeromagnetic gradient background derived from Slam's Bathurst Mining Camp airborne survey flown by Fugro in 2003. The pink area is a zone of high magnetics.
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Figure 2 Logan Zone Aeromagnetics, Diamond Drilling Plan
According to historical records, 11 holes were drilled on the Logan zone from 1960 to 1997. The location of these holes is unknown with the exception of 2 holes ML97-03 and ML97-05 drilled in 1997 from points located northeast of hole GW24-15 as shown on the map above.
Click SLAM_NAI500_YouTube to view SLAM President & CEO Mike Taylor discussing the Goodwin copper nickel project in a recent interview with Gilbert Chan of NAI 500.
QA-QC Procedures: The core was delivered to a secure facility in Bathurst New Brunswick for detailed logging and sampling. The core descriptions and the summary log for hole GW24-15 and other holes are based on visual observations of the core. The results for holes GW24-01 to GW24-03 were previously reported by SLAM. The historic results from previous workers are derived from New Brunswick assessment files that predate NI43-101 regulations. They can only be validated by additional drilling.
About SLAM Exploration Ltd: About SLAM Exploration Ltd: SLAM Exploration Ltd. is a public resource company with a substantial portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. The Company recently completed three diamond drill holes on the Goodwin copper-nickel project in the BMC of New Brunswick. Highlights include:
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A 60.60-meter core interval grading 1.17% copper equivalent in hole GW24-03
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A 64.90-meter core interval grading 2.14% copper equivalent in hole GW24-02
The Company has reported an additional 12 holes drilled in a follow-up program currently in progress at Goodwin. Assays are pending on holes GW24-04 to GW24-15.
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 meters and 56.90 g/t gold over 0.5 meters (news releases dated December 13, 2021, and November 22, 2022). Additionally, the Company reported quartz float grading up to 39.2 g/t gold on its Jake Lee project, located near the Clarence Stream gold deposit, where Galway Metals Inc. is working on a 2.3-million-ounce gold deposit in southern New Brunswick.
SLAM also owns the Mine Road copper-zinc-silver project, adjacent to the former producing Heath Steele Mines property in the BMC. Previous workers have reported successful diamond drill holes at Mine Road, including IL2014-003, which intersected a 9-meter core interval grading 14.51% zinc, 5.86% lead, 0.67% copper, and 139.9 g/t silver in the volcanogenic massive sulphide Railroad Zone (Doe Run Canadian Exploration ULC; 2015, New Brunswick Assessment Files, Report of Work 477877). The Railroad Zone is located 7,000 meters east of the 20-million-tonne former producing Heath Steele B Zone.
Slam is a project generator and has received significant cash and share payments over the past year. The Company holds NSR royalties and expects additional cash and share payments from the Wedge copper-zinc project and 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
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