Consistent Mineralized Zone Intercepted In First 6 Holes
MIRAMICHI, NB, Dec. 15 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL)
("SLAM") announces visible gold in each of its 3 latest diamond drill
holes RS10-20 to 22 at its wholly owned Reserve Creek project in the
Fort Hope area of Ontario. These visible gold specks occur within
mineralized core intervals ranging from 3.5 m to 25.6 m similar to hole
RS10-16 drilled in June 2010. This hole intersected bonanza gold
mineralization with individual samples up to 274 g/t gold over 0.5
meters within a 16.85 m core interval grading 16.45 g/t gold from hole
RS10-16 (news release 17 August 2010).
Hole RS10-20 intersected 3.5 m and 2.8 m core intervals of silicified
tuff containing pyrrhotite-pyrite mineralization from 63.5 m to 67.0 m
and 75.0 to 77.8 m respectively with a fine speck of visible gold at
65.3 m. RS10-21 intersected similar mineralization over a 25.6 m core
interval from 100.4 to 126.0 m with a coarse speck of visible gold at
101.9 m. Hole RS10-22 intersected a 12.5 m mineralized core interval
from 38.1 to 50.65 m with a speck of visible gold at 48.45 m.
Holes RS10-20 to 22 were drilled from same set-up at 60 o, 70 o and 45 o to depths of 90 m, 165 m and 70.1 m respectively to define a section 15
m west of bonanza hole RS10-16. After hole RS10-22 the drill moved 200
m west to test section 5045E in the vicinity of an intercept of 7.49
g/t gold over 4.58 m previously drilled in hole RS08-10.
The Company is pleased with the visual results of the first 6 holes and
the progress of this drilling program. All 6 holes have cut significant
mineralized intercepts with visible gold in 5 of the holes. These
mineral intercepts are being sampled and sent for assay. The Company
expects to drill an additional 6 to 10 holes to complete the 2,000 m
program and to extend the program in 2011.
Michael R. Taylor, P.Geo. President and CEO of SLAM is the Qualified
Person responsible for the technical information contained herein. The
core intervals described are drilled intervals. True thicknesses are
unknown. Reserve Creek drilling activities are progressing 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
About SLAM: SLAM is a mineral resource company based in Miramichi, New Brunswick
and is currently drilling for gold in Ontario and for
silver-copper-lead-zinc in 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.
On behalf of the Board
Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.
This news release does not constitute an offer to sell or a solicitation
of an offer to sell any of securities in the United States. The
securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act")
or any state securities laws and may not be offered or sold within the
United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
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:
SLAM Exploration Ltd.
Mike Taylor, President & CEO
Toll Free: 866.523.6719