Slam Trenches Gold Bearing Vein Over 115 Metres
MIRAMICHI, New Brunswick, Oct. 20, 2020 (GLOBE NEWSWIRE) — SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL) is pleased to announce additional occurrences of visible gold discovered by trenching on its wholly owned Menneval Gold project in northwestern New Brunswick. Trench M20-18 followed a new vein that was identified by a grab sample that graded 59.30 g/t as reported by news release October 7, 2020. This new vein is referenced as No. 18.
Visible gold was reported from 12 of 16 grab samples collected from vein No 18 over a strike length of 115m. This mineralized vein ranges from 0.04 to 0.12 m thick. It is part of a network of veins extending southwest of Zone 9 as reported October 7, 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.Assays are pending on 16 grab samples collected from vein No. 18 and 5 samples from trenches M20-19 to 21. All 21 samples are comprised of quartz vein material mineralized with limonite, pyrite and, in 12 of the samples, visible gold. Results are pending from 282 soil samples that may assist the Company in the search for potential new veins and extensions.The Company is currently digging trench M20-22 on the east flank of Zone 9 and 300 m east of trench M20-18. M20-22 has traced a vein southward over a strike length of 250m and is open to the north and south. This vein ranges up to 0.30 m in thickness but locally is 1.0 m thick. This vein is mineralized with limonite and locally, pyrite. Following this trenching program, the Company expects a potential resumption of diamond drilling activities to test these new gold occurrences. 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: