MIRAMICHI, NB, April 11 /CNW/ - SLAM Exploration Ltd. (TSX-V: SXL)
("SLAM") announces new intersections of massive sulphides in each of the first
group of five additional holes of its drilling program currently in progress
at its wholly-owned Nepisiguit Property located 20 km west of the
Brunswick No. 12 Mine in the Bathurst Mining Camp of New Brunswick. This
drilling program of approximately 10 holes is designed to identify the
potential high grade core within the Nepisiguit "A" and Nepisiguit "B"
sulphide deposits and eventually expand the known extent of these mineralized
Holes NP07-04 and 05 tested Zone A on a section 50 metres west of
Hole NP06-03 which intersected 6.49% zinc, 2.04% lead, 0.16% copper and
48.43 g/tonne silver over 3.85 metres and included a 0.45 metres interval at
22.40% zinc, 7.28% lead and 141.00 g/tonne silver as announced 20 February
2007. Holes NP07-06 and 07 also tested Zone A on a section 25 metres east of
Hole NP06-03 in the area of a possible fold structure. Hole NP07-08 was
completed in SLAM's first drill test of Zone B located 500 metres south of
Zone A. All five holes cut massive sulphides over core intervals ranging from
1.50 to 8.95 metres.
SLAM has delivered the drill cores to a secure site for geological
logging and sample collection. Selected mineralized intervals are being sawn
in preparation to ship for analysis to a commercial laboratory. The results
will be published once the assays are received. 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 Nepisiguit project and
the drilling results reported in this news release.
The drilling program at Nepisiguit is an integral part of SLAM's strategy
to systematically increase its base metal resources within New Brunswick by
drill testing additional deposits in its portfolio. The cornerstone of this
strategy remains the 3.4M tonne drill indicated resource averaging 5.01% zinc,
0.89% lead and 30.95 g/tonne silver (NI 43-101 report September 2005) at Nash
The Nepisiguit property comprises 67 claims covering 1072 hectares of
favourable volcanic stratigraphy in the Bathurst Mining Camp in New Brunswick
which is one of the largest accumulations of sulphide mineralization in
Canada. In addition to the Nepisiguit A and B zinc-lead-silver deposits, the
property also hosts the Swamp Lake copper stringer zone. Since stringer zones
are indicative of a proximal environment for volcanogenic massive sulphide
deposits this occurrence shows potential for additional mineralization to the
north of Zone A.
SLAM Exploration Ltd. is a mineral resource company based in Miramichi,
New Brunswick. The Company is 100% owner of the Nash Creek zinc-lead-silver
deposit. In addition, it wholly owns the Nepisiguit A, Nepisiguit B, Ahearn,
Strachens East and Strachens base metal deposits within the world class
Bathurst mining camp. SLAM also holds the right to earn 100% interest in
1935 claims centered in the Bathurst Mining Camp. In western New Brunswick,
SLAM holds the right to earn 100% interest in the Costigan zinc deposit and
wholly owns the Lewis Brook silver deposit. The Company holds varying
interests in four gold properties in the gold producing Uchi sub-province of
Additional information about SLAM and its projects is available at
www.slamexploration.com or from SEDAR filings at www.sedar.com. 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 facts, 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. Factors that could cause actual
results to differ materially from those in forward-looking statements include
market prices, exploration and development successes, continued availability
of capital and financing, and general economic, market or business conditions.
Please see our public filings at www.sedar.com for further information.
For further information:
For further information: Bob Smylie, Investors' Relations, Toll-Free:
(866) 309-6719, firstname.lastname@example.org; Mike Taylor, President & CEO,
(506) 627-1353, email@example.com