Testing the latest massive sulphide discovery in the Bathurst Mining
Targets include coincident VTEM, magnetic, gravity and soil anomalies
MIRAMICHI, NB, Feb. 17 /CNW/ - SLAM Exploration Ltd. ("SLAM") (TSX-V:
SXL) is mobilizing a diamond drill to its TSN property located in the Bathurst
Mining Camp in New Brunswick. The Company expects to complete up to 2,000
metres in this drilling program.
The drilling program will target at least 3 VTEM conductors with
co-incident aeromagnetic and ground gravity signatures. The initial target is
associated with soil geochemical anomalies elevated in zinc, lead, copper and
silver. These anomalies correlate with the TSN volcanogenic massive sulphide
discovery and with a gossan zone exposed by trenching in 2008. As reported by
press release 29 October 2008, 50 grab samples were collected from 4 trenches.
Results included 6 samples of semi-massive to stringer sulphide mineralization
ranging from 1.58 to 7.95% zinc, 1.40 to 4.71% lead and 26.16 to 118.57g/t
silver. Thirty-eight of the 50 samples contained quartz-pyrite-chalcopyrite
mineralization ranging from 0.10 to 1.00% combined base metals.
The wholly owned TSN property comprises 607 claims, covering 9712
hectares located 50 km west of Miramichi in the Bathurst Mining Camp. Although
the area is underlain by highly prospective Miramichi and Tetagouche Group
sedimentary and volcanic rocks, previous exploration has been limited due to
lack of outcrop. The rock sequence appears similar and along strike to that
hosting the 150 million tonne Brunswick Mining and Smelting No. 12 Mine
located 50 km to the north.
The TSN property is part of SLAM's strategy to discover and develop base
metal resources within close proximity to the world-class Bathurst Mining Camp
in New Brunswick. As reported by press release on 12 February 2008, SLAM's
expanding portfolio of base metal deposits includes the Nash Creek deposit
estimated to contain 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 deposit at an indicated resource of 7,807,900 tonnes grading
2.72% zinc, 0.55% lead and 18.26 g/t silver plus an inferred resource of
1,211,700 tonnes grading 2.66% zinc, 0.52% lead and 18.00 g/t silver.
Derek F. Brown, P.Geo., SLAM's Exploration Manager, is the Qualified
Person, as defined under National Instrument 43-101, responsible for the
technical results reported in this news release.
Additional information about SLAM can be viewed at
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 exploration in New Brunswick as well as gold
exploration in the Uchi subprovince of northwest 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,