Lower 44 Mineral Claims Host Zinc-Lead-Copper-Silver-Gold Zones
TSXV: SXL OTCBB: SLMF
MIRAMICHI, NB, Feb 14, 2017 /CNW/ - SLAM Exploration Ltd. (TSXV: SXL) ("SLAM" or the "Company") is pleased to announce it has acquired 5 mineral claims covering 1350 hectares of land known as the Lower 44 property located in the Bathurst Mining Camp ("BMC") of New Brunswick, Canada. The site is 20 km west of the former producing Brunswick No. 12 mine owned by Glencore and 18 km south of the Caribou mine owned and operated by Trevali Mining Corp.
The Lower 44 property is host to three historic zinc-lead-copper-silver-gold mineral occurrences known as the Lower 44 zone, the Essex zone and the Tribag zone. The best drilling intercept to date is a 3.8 m core length grading 12.9% zinc, 5.35% lead, 0.78% copper, 70.6 g/tonne silver and 1.37 g/t gold reported from the Lower 44 zone in 1983. The Lower 44 zone (formerly known as the "Bog" zone), was intersected by 4 drill holes over a strike length of 60m and drilled widths ranging from 0.6 to 3.8 m.
The Essex zone comprises banded to massive sulphides traced over a strike length of 450 m and to a depth of 100 m by 5 diamond drill holes. Essex zone intercepts include 2.3 metres grading 3.25% zinc, 0.99% lead, 0.18% copper, 43.64 g/t silver and 1.29 g/t gold.
The Tribag zone was discovered in 1962 and drilled by 8 diamond drill holes over a strike length of 200m to a depth of 60m. Intercepts of banded to massive sulphides with visible zinc-lead-copper mineralization were reported over core lengths ranging up to 6.5m. The historical records reviewed by SLAM do not include assay data for the Tribag drill holes.
The Lower 44, Essex and Tribag zones are volcanogenic massive sulfide occurrences (VMS) discovered by previous workers in drilling campaigns dating back to the 1950's. Sulphide mineralization occurs within folded sedimentary and volcanic rocks similar in age and lithology to the Brunswick No. 12 and Caribou ore-bodies. There is potential to expand all 3 occurrences by drilling at depth and along strike within the Lower 44 property. Soil geochemical anomalies associated with airborne geophysical conductors demonstrate potential for extensions along strike as well as at depth and are considered drill-ready VMS targets.
Joint Venture/Earn-In Opportunity: SLAM has a portfolio of zinc-lead-silver properties that are available for joint venture and/or option-earn-in agreements in the Bathurst Mining Camp of New Brunswick. These include Costigan, Connector. Lower 44 and other mineral properties with mineral potential demonstrated by previous drilling results as well as airborne and ground geophysical and geochemical surveys. For additional information, call Mike Taylor 506-623-8960.
About SLAM Exploration Ltd:
SLAM is a project generating Resource Company with a portfolio of gold, base metal and lithium projects in the mineral-rich Province of New Brunswick where SLAM's main focus is the wholly-owned Menneval gold project. SLAM holds an NSR royalty on the Superjack and Nash Creek zinc‐lead‐copper‐silver deposits and owns a portfolio of base metal properties in the Bathurst Mining Camp ("BMC"). The Company intends to utilize its extensive BMC mineral database to explore and develop properties in this region of world-class mineral potential. SLAM also owns the Cumberland lithium project in southeastern New Brunswick. Other gold projects include the Reserve Creek and Miminiska gold projects in Ontario. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com. Follow us on twitter @SLAMGold.
Qualifying Statements: Mike Taylor, P.Geo. President and CEO of SLAM Exploration Ltd., as the Qualified Person, approves the scientific and technical disclosure in the news release.
Certain information in this press release may constitute forward-looking information, including statements that address the Private Placement, the closing of the Private Placement, future production, reserve potential, exploration and development activities and events or developments that the Company expects. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE SLAM EXPLORATION LTD.
For further information: Mike Taylor, President & CEO, Contact: 506-623-8960 email@example.com; Eugene Beukman, CFO, Contact: 604-687-2038 firstname.lastname@example.org