To Produce High Resolution Data For Reserve Creek, Opikeigen and
Miminiska Gold Properties
TSXV: SXL US-OTC: SLMF
MIRAMICHI, NB, May 12 /CNW/ - SLAM Exploration Ltd. (TSXV: SXL) (US-OTC:SLMXF) ("SLAM") has contracted for a high resolution airborne magnetic survey to start
immediately over its wholly owned Reserve Creek Gold Property, the
Opikeigen gold joint venture with Beatrix Ventures Ltd. (TSX:BXV) and
the Miminiska property recently optioned to Namex Explorations Inc.
(TSXV: NME) (trading status pending).
Geotech Ltd has been contracted to fly a total of 1490 line km of
helicopter-borne aeromagnetics at 100 m spacing over three gold
properties near Fort Hope Ontario later this month. The 3 axis
Airborne Magnetic Gradiometer will provide very high resolution
gradiometer data. This high resolution data will aid geologists in
choosing drill targets and to further delineate gold-bearing rock
The survey will be broken down to 661 km over Reserve Creek property,
515 km over Opikeigen property and 315 km over Miminiska property. The
Opikeigen survey will be cost-shared with joint venture partner Beatrix
and the Miminiska survey will be funded by Namex. These projects
produced significant gold results in the 2010 drilling campaign
including 16.45 g/t gold over 16.85 m at Reserve Creek and 64 g/t gold
over 1.0 m at Miminiska. All 4 holes at Opikeigen intersected gold
mineralization including 5.05 g/t over 2.3 m and 12.7 g/t over 0.5 m.
The aeromagnetic survey will be followed by a drilling program at
Reserve Creek and Opikeigen scheduled to start in early June. With over
$3.5M in its treasury, SLAM expects to be very active on the drilling
front for the remainder of 2011. In addition to the gold projects, work
continues on SLAM's wholly owned Nash Creek silver-lead-zinc deposit.
About Geotech Ltd:
The 3-axis Airborne Magnetic Gradiometer by Geotech will provide very
high resolution gradiometer data. This system is based on proven
Geometrics high resolution optically-pumped magnetic sensors. It is the
world's only true 3-axis helicopter gradiometer (Four high sensitivity
caesium total magnetic field sensors; spacing: 3.68 m - vertical and
About SLAM Exploration Ltd:
SLAM is a mineral resource company based in Miramichi, New Brunswick and
is exploring for gold in Ontario and for 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; Toll Free: 855.800.6109