Gold Assays Up To 12.7 g/t over 0.55 Metres
MIRAMICHI, NB, Aug. 30 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") and Beatrix Ventures Inc. (CNSX: BXV) ("Beatrix") are pleased to announce final gold assays from all 4 diamond drill holes completed on Zone 12 of the Opikeigen Gold Joint Venture. Hole OG10-03 intersected 12.70 g/t gold over 0.55 m (0.370 oz/ton over 1.8 ft) within a 50.8 m interval grading 0.36 g/t gold. Hole OG10-04 was drilled 12.5 m east of hole OG10-03.
Hole OG10-04 intersected 2 intervals grading 5.05 g/t gold over 2.3 m (0.147 oz/ton over 7.5 ft) and 1.44 g/t gold over 4.26 m (0.042 oz/ton over 14 ft) respectively. These occur within a 75.3 m core interval grading 0.43 g/t gold starting at 180m. Gold assays for all 4 drill holes are tabulated below:
DDH From To Metres Feet Gold g/t Oz/ton
OG10-01 209.00 212.17 3.17 10.4 2.48 0.072
OG10-01 238.00 239.50 1.50 4.9 1.92 0.056
OG10-02 272.20 274.00 1.80 5.9 0.96 0.028
OG10-03 181.50 231.70 50.8 166.7 0.36 0.010
OG10-03 197.75 199.60 1.85 6.1 4.41 0.129
OG10-03 197.75 198.30 0.55 1.8 12.70 0.370
OG10-03 219.30 220.50 1.20 3.9 2.33 0.068
OG10-04 180.70 256.00 75.3 247.0 0.43 0.013
OG10-04 229.00 230.30 1.30 4.3 5.05 0.147
OG10-04 290.65 291.80 1.15 3.8 2.46 0.072
The core intervals described are drilled intervals. True thicknesses are unknown. The drilling program tested Zone 12 gold mineralization over a 40 m strike length to the west and east of high grade gold intercepts in hole OL87-46 previously drilled in 1987. Hole 46 intersected mineralized sections of 113.57 g/t gold over 0.1 m and 49.66 g/t gold over 0.2 m reported to contain visible gold within a core interval grading 6.22 g/t gold over 7.00 m. These results pre-date NI 43-101 regulations and can only be verified by additional drilling.
Zone 12 gold mineralization is hosted within iron formations and mafic volcanics similar to the rock sequence at Reserve Creek where SLAM recently drilled a mineralized core interval grading 16.45 g/t gold over 16.85 m with individual samples up to 274 g/t gold over 0.5 m (SXL news release 17 August 2010). These volcano-sedimentary sequences are part of the Uchi Subprovince, a huge system of greenstone belts extending from Lake Winnipeg to the Hudson Bay lowlands hosting the world-famous Red Lake gold mining camp as well as the Pickle Lake and Fort Hope gold areas in Ontario.
Eugene Beukman, President of Beatrix comments; "We are encouraged by these results. Gold occurs in all 4 holes and Zone 12 appears to be part of a larger mineralizing system at Opikeigen. The Fort Hope area is an emerging gold play in a huge greenstone belt and could be of Red Lake proportions".
All drill cores were delivered from the drill sites to a facility in Fort Hope for logging and sampling. Selected cores were split or sawn with half retained for reference. Sampled halves were shipped to Act-Labs in Thunder Bay for gold assay. Standards and blanks were inserted in the sample batches to augment the Quality Assurance and Quality Control program of duplicates and standards utilized by the laboratory. Michael R. Taylor, P.Geo. President and CEO of SLAM and Director of Beatrix is the Qualified Person responsible for the technical information contained herein.
The drilling activities have been performed in consultation with Eabametoong First Nation ("EFN") in accordance with a recently signed Exploration Agreement. This Agreement calls for EFN and SLAM to work cooperatively to advance the gold potential of the Fort Hope area.
About Beatrix: Beatrix is a mineral resource company based in Vancouver, British Columbia recently formed to focus on gold projects. Beatrix owns 50% of the Opikeigen Gold Joint Venture. Additional information about Beatrix and its projects is available at www.beatrixventures.com or from SEDAR filings at www.sedar.com
About SLAM: SLAM is a mineral resource company based in Miramichi, New Brunswick and continues to be active in gold, silver and base metal exploration in Ontario and 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.
Additional information about SLAM can be viewed at http://www.slamexploration.com as well at www.sedar.com.
On behalf of the Board
Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.
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: For further information: Corporate Inquiries: Mike Taylor, President & CEO, 506.627.1353, Toll Free: 866.523.6719, firstname.lastname@example.org