SLAM Discovers Gold, Silver & Base Metals on New Property
MIRAMICHI, New Brunswick, Dec. 16, 2020 (GLOBE NEWSWIRE) — SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL) is pleased to report the results from 5 grab samples ranging up to 6.70 g/t gold, 141 g/t silver, 0.95% copper, 68.95% lead and 2.06% zinc collected during a preliminary prospecting program on its wholly owned Birch Lake gold-silver property located 100 km west of the city of Miramichi in central New Brunswick.
All 5 of the above noted samples were collected from an open trench that had been excavated by previous workers. Sample E6640181, assaying 6.70 g/t gold, is a sample of trench rubble comprising siliceous breccia mineralized with hematite. Samples E6640182 and E6640197 are trench rubble comprising a similar breccia mineralized with galena and hematite. Sample E6640196 is a 20 kilogram massive sulphide slab discovered in the rubble. Sample E6640198 is from a shear zone with hematite and galena in bedrock metasediments. Assay results for all 5 samples are summarized as follows:An ICP analysis has been requested to determine the silver and base metal content of Sample E6640181.The Birch Lake Project: The Company owns 2 mineral claims comprising 230 claim units that cover 5038 hectares of prospective mineral land located in central New Brunswick, 100 km west of the city of Miramichi. These wholly-owned claims were acquired in 2020 by staking on the NB-eclaims portal. The Company intends to complete additional exploration on the Birch Lake project although the main focus will be the Menneval gold project in 2021.The Menneval Gold Project: The Company intends to focus its 2021 exploration strategy on the Menneval gold project after demonstrating the success of the 2020 program with a series of recent news releases. The latest was our news release dated December 3, 2020 which reported gold mineralization in all 17 samples collected from vein No 18 with assay results ranging from 1.22 to 3,955 g/t gold over widths ranging from 0.04 to 0.12 m thick and traced over a strike length of 114m. Assays are pending on samples from nearby trenches M20-19 to 21 and trench M20-22 located 300 m eastward and pending on at least 40 additional quartz veins newly discovered in an 800 m extension of the vein system east of trench M20-22. Assay results are also pending on 600 soil samples collected between Zone 9 and the No. 11 gold occurrence. The 2020 Menneval exploration program is supported in part by a $30,000 contribution to the Menneval gold project under the New Brunswick Junior Mining Assistance Program.The expanded Menneval gold project is now comprised of 480 claim units covering 10,460 hectares located in northwestern New Brunswick. The Company holds a 100% interest in the Menneval claims with the exception of 4 claim units covering 105 hectares that 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.Mount Victor Gold Project: The Company completed a trenching program on its Mount Victor gold project to test two mineral occurrences discovered in preliminary prospecting by SLAM. The Company also completed prospecting and soil geochemistry on its wholly-owned properties located in central New Brunswick and in the vicinity of Clarence Stream where Galway Gold Inc. has reported successful gold drilling results in southern New Brunswick. Assays are pending on approximately 100 rock samples and 400 soil samples collected from these properties located in southern and central New Brunswick during the 2020 exploration season.Mount Uniacke Gold Project: A professional geologist completed a site visit on behalf of the Company to the Uniacke gold project located 100 km west of the Moose River gold mine operated by St. Barbara Mining Corp. in the Meguma gold district of Nova Scotia. Gold assays are pending on 7 samples collected from the rock dumps found in the vicinity of historic gold mine workings at Uniacke.About SLAM Exploration Ltd: