Widespread Copper, Lead, Zinc and Silver Mineralization
MIRAMICHI, NB, Feb. 18 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL)
("SLAM") announces it has completed a drilling program on its
Silverjack property in New Brunswick with a total of 2884m drilled in
22 holes. After Silverjack the drill was moved to Nash Creek.
The final 2 holes at Silverjack were SJ11-41 and 42 drilled near the
Doyle copper-silver occurrence. SJ11-41 intersected 4 zones containing
sulphides and copper mineralization over drill core intervals ranging
from 0.3 to 1.33m, the latter at a depth of 108.1m. Assays are pending
on these copper intercepts. This hole is beneath a trench dug by
previous workers. During the 2010 prospecting program, SLAM collected 2
grab samples from rubble beside the trench that assayed 8.67% copper
with 171 g/t silver and 4.99 % copper with 150 g/t silver respectively.
A 2500m long aeromagnetic trend is associated with this copper zone. It
occurs within sediments and limestones similar to the Silverjack
deposit 1,000m to the east where SLAM previously reported high grade
drilling results ranging up to 653 g/t (19.05 oz/ton) silver, 2.69%
copper, 11.9% zinc and 9.8% lead (news release 16 February, 2010). Both
the Doyle and Silverjack zones are historic occurrences acquired
through agreements with prospectors.
Holes SJ10-32 to SJ11-38 were drilled to test for potential extensions
up to 1600m south of the Silverjack zone. These holes intersected
limestones and sediments with local zones of lead-zinc mineralization.
The most significant intercepts were in hole SJ11-38 with individual
samples ranging up to 12.36% lead-zinc over 0.3m and anomalous
intervals up to 0.75% lead-zinc over 18.7m. Holes SJ11-35, 39 and 40
tested a copper occurrence discovered in the 2010 prospecting program.
Hole SJ11-35 intersected 5.23% copper, 42 g/t silver and 1330 g/t
cobalt over 0.3m.
The significant grades combined with multiple occurrences over a large
area suggest the presence of a large scale mineralized system. The
Company plans additional trenching and drilling in 2011 to test for
extensions to high grade silver, copper, lead and zinc mineralization
at both the Silverjack and Doyle occurrences.
Mike Taylor, P.Geo. President & CEO is the Qualified Person responsible
for the technical information contained herein. Drill cores were
delivered from the drill to a secure site for logging and sampling.
Selected drill cores were split or sawn and one half sent to Activation
Laboratories. Activation Labs analyzed the samples using code 8AR for
silver, copper, zinc, lead and code Ultratrace 2 for multi-elements on
selected samples. The Company used blank and standard samples for
quality assurance and control.
The recently expanded Silverjack property comprises 160 wholly owned
mineral claims plus 13 claims under option for a total of 3715
hectares. The property is 4 kilometres from the Belledune smelter and
seaport and is adjacent to SLAM's Nash Creek property comprised of 406
mineral claims covering 6,496 hectares. The Company has been awarded a
provincial grant of $35,000 under the New Brunswick Junior Mining
Assistance Program to support this drilling program. Additional
information about Silverjack can be viewed at: www.slamresources.com/projects/new-brunswick/silverjack.
About SLAM Exploration Ltd:
SLAM is a mineral resource company based in Miramichi, New Brunswick and
is actively exploring for gold in Ontario and silver-copper-lead-zinc
in New Brunswick. Additional information about SLAM and its projects is
available at www.slamexploration.com or from SEDAR filings at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
On behalf of the Board
Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.
This news release does not constitute an offer to sell or a solicitation
of an offer to sell any of securities in the United States. The
securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act")
or any state securities laws and may not be offered or sold within the
United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. All statements in this
release, other than statements of historical fact, that address future
production, reserve potential, exploration and development activities
and events or developments that SLAM expects, are forward-looking
statements. Although management believes the expectations expressed in
such forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance, and actual
results or developments may differ materially from those in the forward
looking statements. Please see our public filings at www.sedar.com for
SOURCE SLAM EXPLORATION LTD.
For further information:
SLAM Exploration Ltd.
Brian Jones, Investor Relations; Toronto: 647-729-1436