SLAM Extends Maisie Gold Zone To 350m Strike Length
More Gold Visible in Bedrock-Assays PendingMIRAMICHI, NEW BRUNSWICK -- (Marketwire) -- 09/11/12 -- SLAM Exploration Ltd. (TSX VENTURE: SXL)(OTCBB: SLMF) ("SLAM") is pleased to report Trench MN12-01A has extended the Maisie gold zone an additional 160 m. The gold bearing vein has been intersected over a strike length of 370 m and has specks of visible gold along its length for approximately 230 m. This gold bearing vein ranges in thickness from 0.1 to 0.6 m with at least 1 site where it blows out to 2.2 m thick. It is mineralized with minor limonite, goethite, hematite and pyrite along with local specks of visible gold. The Maisie zone is one of several new gold discoveries being explored by SLAM on its wholly-owned Menneval claims in New Brunswick.
Trench MN12-01A follows the Maisie Zone beyond MN12-03 and MN12-04 both of which uncovered the visible gold-bearing quartz vein as described in a news release issued on August 31, 2012. MN12-01A was channel sampled at 5 m intervals over a length of 40 m. Channels were cut across the vein with shoulder samples of altered wall rock on either side. Other sections of the vein were carefully chip sampled where the trench was considered too deep to safely access for channel sampling. The Company is currently following the Maisie zone remains along strike with trench MN12-01B.
On a separate target, trench MN12-09 uncovered 2 cross-cutting quartz veins approximately 700 m southeast of the Maisie Zone. These veins are mineralized with minor limonite, goethite, hematite and pyrite and range up to 0.6 m in thickness. Trench MN12-11 has uncovered 2 quartz boulders with visible gold 2500 m from the Maisie zone. Additional trenching is planned to source these boulders. Assays are pending on approximately 150 samples from the trenches.
Mike Taylor, President and CEO states; "Considering that this is a brand new gold discovery, SLAM is very encouraged by these results. We have followed a bonanza gold vein for 370 m and are still chasing it. Our exploration team has identified approximately 20 high priority targets to be trenched after the Maisie zone. These targets include additional gold-bearing boulders up to 6 km away within what appears to be an extensive gold-bearing system on the Menneval property."
The Maisie gold discovery is 30 km north of the Lavoie gold occurrence where trenching produced grab samples grading up to 493 g/t gold on SLAM's NW Gold project as reported January 9, 2012. Recent detailed prospecting has generated a number of new trenching targets in addition to the original Lavoie gold discovery at NW Gold where the Company plans follow-up trenching to begin soon.
About The Menneval Project: SLAM holds 100% interest in 17 contiguous claims covering 25,570 hectares all acquired by map-staking near Menneval in northwest New Brunswick. Four (4) of the claims covering 692 hectares are subject to a 1.5% NSR. SLAM can buy down 0.5% NSR for C$0.5M and has right of first refusal on remaining 1%. The extensive property hosts a number of new gold discoveries including the Maisie zone. It also covers 3 previously discovered silver-base metal skarn deposits where exploration programs date back to 1965.
Qualifying Statements: SLAM Project Manager Sara Lloyd, P.Geo. is the Qualified Person responsible for the technical information contained herein. Chip samples and channel samples as well as grab samples were collected and sent to Actlabs in Ancaster, Ontario for fire assay.
About SLAM Exploration Ltd:
SLAM is a mineral resource company based in Miramichi, New Brunswick and is actively exploring new gold discoveries on its Menneval and NW Gold projects in northwestern New Brunswick. In addition, 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
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration and development activities and events or developments that SLAM expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward looking statements. Please see our public filings at www.sedar.com for further information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
SLAM Exploration Ltd.
Brian Jones
Investor Relations
Toll Free: 855.800.6109 or Toronto: 647.729.1436
info@slamexploration.com
www.slamexploration.com