SLAM Gold Veins Assay Up to 3,955 g/t Gold
MIRAMICHI, New Brunswick, Dec. 03, 2020 (GLOBE NEWSWIRE) — SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL) is pleased to announce assay results ranging up to 3,955 g/t gold from Trench M20-18 on its wholly owned Menneval gold project in northwestern New Brunswick. Trench M20-18 traced a mineralized quartz vein referenced as vein No. 18 intersected over a strike length of 114 metres with 12 sites of visible gold as reported by our news release dated October 20, 2020 .
Gold was detected in all 17 samples collected from vein No 18 which was traced over a strike length of 114m. Assay results range from 1.22 to 3,955 g/t gold over widths ranging from 0.04 to 0.12 m thick. Gold assays for all 17 samples from vein No. 18 are tabled as follows:Vein No.18 is part of a network of veins extending southwest of Zone 9 as reported in our news release October 07, 2020. Trench 19 was a crosscut trench designed to find the extension No. 18 where it was displaced by a fault. Trenches M20-20 and M20-21 were dug in close proximity to the original Zone 9 vein looking for potential extensions. Trench M20-22 located 300 m east of trench M20-18 uncovered a series of en echelon, sub-parallel quartz veins over a total strike length of 500 m. These veins range up to 0.30 m in thickness but locally are 1.0 m thick. One vein is mineralized with limonite, pyrite and at least one site of visible gold.At least 40 additional quartz veins were discovered in an 800 m extension of the vein system east of trench M20-22 where the Company dug 20 crosscut trenches. The excavator was then moved an additional 1,700 m eastward to the site of Maisie gold occurrence No. 11 where visible gold in a boulder had been reported previously by SLAM workers. The Company dug an additional 5 trenches M20-44 to M20-48 and uncovered numerous quartz boulders in the vicinity of gold occurrence No. 11. After completion of trench M20-48, the excavator was demobilized pending receipt of assay results on samples collected from selected boulders as well as approximately 40 newly discovered veins. Assay results are also pending on 600 soil samples collected between Zone 9 and the No. 11 gold occurrence. The 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 Menneval Project: 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.About SLAM Exploration Ltd: