SLAM Awards Diamond Drilling Contract For Maisie Gold
MIRAMICHI, New Brunswick, July 16, 2020 (GLOBE NEWSWIRE) — SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL) is pleased to announce it has awarded a diamond drilling contract for a minimum of 600 metres on the Menneval Gold Project. The Company proposes to drill 6 to 10 diamond drill holes designed to test the road-accessible Maisie gold vein to a depth of 150 m. Previous trenching and drilling programs traced the Maisie gold‐bearing quartz vein over a strike‐length of 700 metres and to a depth of 30 metres. The Company will receive a $30,000 contribution to the Menneval gold project under the New Brunswick Junior Mining Assistance Program.
The Menneval Project: The recently expanded Menneval Gold project is comprised of 211 claim units covering 4,496 ha located in northwestern New Brunswick. The Company holds a 100% interest in the Menneval claims. Four (4) claim units covering 105 hectares are subject to a 1.5% NSR. The Company can buy down 0.5% of the NSR for $500,000 and it has the right of first refusal on the remaining 1% NSR.About SLAM Exploration Ltd: