Copper, lead, zinc, silver, cobalt and gold detected;
More information available on revamped website.
MIRAMICHI, NB, April 22 /CNW/ - SLAM Exploration Ltd. ("SLAM") (TSX-V:
SXL) announces results from 3 holes completed at the TSN property located in
the Bathurst Mining Camp in New Brunswick, Canada.
Hole TS0901 intersected broad zones of sulphide stringer mineralization
comprised of up to 10% pyrite-pyrrhotite with visible base metals. The 43.3
metre interval starting at 132.2 metres contains 406.5 ppm copper, 322.8 ppm
lead, 556.6 ppm zinc, 120.5 ppm cobalt, 1.8 ppm silver and 56.4 ppb gold.
Individual samples range up to 1% zinc, 0.29% lead, 0.19% copper, 539 ppm
cobalt, 10.5 ppm silver and 1370 ppb gold over widths varying from 0.3 to 1.5
metres. This hole was designed to test a VTEM conductor coincident with
aeromagnetic, ground gravity and soil geochemical anomalies. These correlate
with the TSN volcanogenic massive sulphide discovery and with a gossan zone
exposed by trenching (press release 29 October 2008).
Hole TS0902 and 03 were drilled on separate VTEM conductors approximately
5 km west of TSN1. Similar stratigraphy was intersected with greywacke,
argillite, quartzite, crystal tuff and chert. Up to 5% pyrite-pyrrhotite
stringers and minor graphite occur in some sections. Anomalous base metals
occur in hole TS0903 with a 20.0 metre interval averaging 0.14% zinc and
individual samples ranging up to 0.59% zinc over 1.5 metres.
Management is very encouraged by the results to date with 3 new base
metal occurrences over a strike length of 5 km. Drilling has identified
stringer-type mineralization containing base metals and gold within
sedimentary rocks of the Knights Brook Formation. At the 175 million tonne BMS
No. 12 Mine located 50 km to the north, footwall stringer mineralization
extends down into the Knights Brook sediments that lie beneath the BMS
The drilling program was postponed due to deep snow conditions after
drilling a total of 807 metres in 3 holes. The Company expects to resume the
2,000 metre program at a later date.
SLAM's wholly owned TSN property comprises 810 claims, covering 12,960
hectares located 50 kilometres west of Miramichi. Along with TSN, the Company
owns the Nash Creek, Costigan and Nepisiguit base metal deposits proximal to
the world class BMS No. 12 mine operated by Xstrata in New Brunswick. The most
advanced is Nash Creek with an indicated resource of 468M lbs zinc, 95M lbs
lead and 4.6M oz silver plus an inferred resource of 71.0M lbs zinc, 14M lbs
lead and 0.7M oz silver after mill recoveries are factored in. Wardrop
Engineering Inc. estimated the indicated resource of 7,807,900 tonnes grading
2.72% zinc, 0.55% lead and 18.26 g/t silver and the inferred resource of
1,211,700 tonnes grading 2.66% zinc, 0.52% lead and 18.00 g/t silver as
reported by press release 12 February 2009.
The lengths tabulated above are measured core intervals. The true
thicknesses are unknown. Drill cores were delivered from the drill to a secure
site for logging and sampling. Selected drill cores were split with one half
retained for reference and one half sent to Activation Laboratories for
analysis. Laboratory methods were 30+ element aqua regia ICP analysis (code
1E3) and fire assay AA finish for gold (code 1A2). The Company used blank and
standard samples for quality assurance and control. Derek F. Brown, P.Geo.,
SLAM's Exploration Manager, is the Qualified Person, as defined under National
Instrument 43-101, responsible for management of the TSN project and for the
results reported in this news release.
Additional information about SLAM can be viewed at its recently updated
website http://www.slamexploration.com as well at www.sedar.com. SLAM
Exploration Ltd. is a mineral resource company based in Miramichi, New
Brunswick. It is extremely active in base metal and gold exploration in New
Brunswick and Ontario. The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this release.
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 the Company 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.
For further information:
For further information: Corporate Inquiries & Investor Relations: Mike
Taylor, President & CEO, (506) 627-1353, Toll Free: (866) 523-6719,