TSXV: SXL US-OTC: SLMF
MIRAMICHI, NB, April 28 /CNW/ - SLAM Exploration Ltd. (TSXV:SXL) (US-OTC:SLMXF) ("SLAM") was covered today in the "Daily Report - April 28, 2011" by H. M.
Visagie with the following comment: "The ability to upgrade the low
grade open pit feed using a DMS plant may result in a significant
improvement in the economics for the Nash project. The improvement in
economics will depend how the metallurgical response of the upgraded
feed in the flotation circuit and the overall impact on capital and
operating costs are impacted."
Mr. Visagie's comments follow a SLAM press release reporting successful
Dense Media Separation (DMS) test results on 4 core sample from hole
NC11‐220 at its wholly owned Nash Creek property in New Brunswick with
significant upgrades indicated on all samples. Sample 4, from the new
zone beneath the NI43‐101 deposit was enriched 2.7 times to 2.33% lead,
11.95% zinc and 63 g/t silver. For further information, refer to the
press release issued 27 April 2011.
SLAM is very encouraged by the results of this program. The DMS results
are very positive. The assay results include broad intervals of silver,
lead and zinc mineralization beneath the known deposit indicating
potential for a much larger deposit. The Company is planning additional
work designed to further expand the deposit in 2011.
About The Nash Creek Deposit:
SLAM's 100% owned Nash Creek deposit contains an indicated resource of
468M lbs zinc, 95M lbs lead and 4.6M oz silver, plus inferred resource
of 71.0M lbs zinc, 14M lbs lead and 0.7M oz silver. These metals are
contained within a 7.8M tonne indicated resource grading 2.72% zinc,
0.55% lead and 18.26 g/t and a 1.2 M tonne inferred resource grading
2.66% zinc, 0.52% lead and 18.00 g/t silver (NI43-101 Technical Report
announced 12 February, 2009).
The property boasts excellent infrastructure with a power-line, railway
and major highway transecting the property. These links provide
immediate access to the Belledune seaport and smelter located within 25
km as well as Xstrata's BMS No. 12 mine and mill within 75 km. Maple
Minerals Caribou dormant mine/mill complex is approximately 90 km by
road from Nash Creek.
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 further information.
SOURCE SLAM EXPLORATION LTD.
For further information:
SLAM Exploration Ltd.
Brian Jones, Investor Relations; Toll Free: 855.800.6109