Slam Drills Gold Mineralization in Maisie Zone
MIRAMICHI, New Brunswick, Oct. 05, 2020 (GLOBE NEWSWIRE) — SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL) is pleased to announce the results from a diamond drilling on its wholly owned Menneval Gold project in northwestern New Brunswick. Gold mineralization was intersected in all 9 holes ranging from 0.10 g/t up to 10.3 g/t gold over 0.3 m.
The Company completed 9 diamond drill holes for a total of 624 m that test the Maisie gold vein over a strike length of 250 m. All 9 holes intersected quartz and carbonate zones representing the Maisie vein over core lengths ranging from 0.2 m to 1.1 m at down hole depths ranging from 28 m to 105 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.Drill collar data For the drilling program is tabled below:The Company recently announced the new discovery of a series of quartz veins uncovered by trenching in the area south of the Maisie vein adjacent to Zone 9. The new veins range up to 1 m thick and are mineralized with limonite and locally pyrite. Visible gold was reported from two of the veins. The Company collected 42 grab samples from the trenches and 282 soil samples from the trench area. Pending assays from the grab samples, additional trenching is planned for this new gold discovery.The drilling program is supported in part by a $30,000 contribution to the Menneval Gold project under the New Brunswick Junior Mining Assistance Program.The Menneval Project: Based on the new gold discovery, the Company staked 118 additional claim units covering an additional 2530 hectares at Menneval. 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. 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: