MIRAMICHI, NB, June 14 /CNW/ - SLAM Exploration Ltd. (TSX-V: SXL)
("SLAM") is pleased to announce assay results from the final 4 holes of a
12-hole drilling program completed at Nepisiguit. SLAM's wholly-owned
Nepisiguit Property comprises 67 claims covering 1072 hectares of favourable
volcanic stratigraphy located 20 km west of the Brunswick No. 12 Mine in the
Bathurst Mining Camp of New Brunswick.
Three of the 4 holes all drilled on Zone A contain massive sulphide core
intervals with zinc-lead-copper-silver mineralization including the widest
intercept to date in NP07-15 with 11.22 metres grading 6.09% zinc, 0.81% lead,
0.21% copper and 31.3 g/tonne silver. This intercept includes a richer section
grading 7.75% zinc, 1.19% lead, 0.17% copper and 36.8 g/tonne silver over
5.31 metres. The following table summarizes the drilling results for selected
Hole ID From To Core Zn Pb Cu Ag True(*)
metres Inter- % % % g/ Width m
NP07-13 167.83 172.06 4.23 6.99 1.00 0.22 27.3 3.97
NP07-14 84.15 86.95 2.80 5.47 1.31 0.27 58.8 2.47
NP07-15 19.02 22.50 3.48 5.86 0.33 0.71 39.5 2.82
NP07-15 29.48 40.70 11.22 6.09 0.81 0.21 31.3 9.08
NP07-15 29.48 34.79 5.31 7.75 1.19 0.17 36.8 4.30
NP07-15 53.16 59.24 6.08 3.43 1.38 0.10 39.7 4.92
NP07-11(xx) 110.40 111.07 0.67 13.53 3.62 0.43 179.0 0.56
NP07-11(xx) 132.23 136.00 3.68 7.53 1.66 0.12 69.0 3.09
(*)The estimated true width is based on the measured core angles. Hole
NP07-15 intersected an additional sequence of sulphide mineralization
possibly repeated by folding.
(xx)Revised results for hole NP07-11 were previously reported at a lower
grade and greater core length. The collar information is tabled as
Hole ID UTM East UTM North Dip Az Length m
NP07-12 724268 5251751 -50 154 210
NP07-13 724984 5251646 -65 154 204
NP07-14 724184 5251676 50 154 120
NP07-15 724140 5251599 -50 154 117
Michael Taylor, President & CEO comments "We have seen rapid progress at
Nepisiguit. The significant widths and grades encountered suggest a high
probability of a mineable resource. The drilling results indicate a continuous
zone of significant mineralization over a strike length of 250 metres within
the Nepisiguit Zone A."
The zone is currently open at depth and to the west where limited
drilling by previous workers indicates a minimum strike length of 550 metres.
Hole NP07-12, drilled 50 metres east of the deposit did not intercept
significant sulphides. A longitudinal section and drill hole location map is
being updated for viewing at www.slamexploration.com.
Based upon the highly successful drilling results, SLAM acquired the
adjacent 4-claim Cody property where high copper values up to 2500 ppm occur
in soils. This soil anomaly occupies the core of the Mud Lake synform and may
represent a potential extension to SLAM's Swamp Lake copper deposit.
Exploration continues at Nepisiguit with prospecting and mapping. Trenching is
planned to start immediately followed by additional diamond drilling.
Drill cores were delivered from the drill to a secure site for logging
and sampling. Selected drill cores were sawn with one half sent to Accurassay
Laboratories of Thunder Bay for ore grade assay and one half retained for
reference. The Company inserted blank samples at selected intervals and relied
on Accurassay's system of standards and duplicate 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 Nepisiguit project and drilling results reported in this
Drilling continues at SLAM's wholly owned Nash Creek property where a
10,000 metre drilling program is underway to test for extensions of the
deposit. This deposit includes an indicated resource of 3.4M tonnes averaging
5.01% zinc, 0.89% lead and 30.95 g/tonne silver plus an inferred resource of
1.71M tonnes at 3.68% zinc, 0.66% lead and 19.2 g/tonne silver (NI 43-101
report published September 2005).
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. In Southern New Brunswick, SLAM recently
acquired and wholly owns the Jake Lee gold property. 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, email@example.com; Mike Taylor, President & CEO, (506)