Drilling planned to test high grade silver-copper-lead-zinc deposit
MIRAMICHI, NB, April 15 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") announces it has issued a request for drilling tenders for a 3,000 metre drilling program on its Silverjack property. The proposed drilling program will test the strike and depth extent of the Silverjack deposit where SLAM recently reported high grade drilling results ranging up to 653 g/t (19.05 oz/ton) silver, 2.69% copper, 11.9% zinc and 9.8% lead.
The proposed drilling program is part of a larger campaign that will include prospecting and trenching on Silverjack and other high priority targets within SLAM's extensive claim holdings. High priority targets include the Doyle and the D2 silver-copper occurrences. Grab samples at Doyle range up to 126 g/t silver and 12.9% copper and at D2 up to 248 g/t silver and 4.04% copper as reported by press release 09 March 2010. SLAM will evaluate at least 10 other known mineral occurrences that include silver, copper, lead, zinc and barite mineralization as well as an occurrence of rare earth elements.
The Silverjack property comprises 62 wholly owned mineral claims plus 13 claims under option for a total of 1290 hectares. This property is located 12 kilometres southwest of the Belledune smelter and seaport and adjacent to SLAM's Nash Creek property comprised of 406 mineral claims covering 6,496 hectares.
The wholly owned Nash Creek property hosts a 43-101 compliant zinc-lead-silver deposit with an indicated resource of 7.8M tonnes grading 2.72% zinc, 0.55% lead and 18.26 g/t silver plus an inferred resource of 1.2M tonnes grading 2.66% zinc, 0.52% lead and 18.00 g/t silver. The indicated resource contains 468M lbs zinc, 95M lbs lead and 4.6M oz silver and the inferred resource contains 71.0M lbs zinc, 14M lbs lead and 0.7M oz silver. These are recoverable metals with mill recoveries based on metallurgical tests reported by press release 8 January 2008. Michael R. Taylor, P.Geo. President and CEO of SLAM Exploration Ltd. is the Qualified Person responsible for the technical information contained herein.
Mike Taylor states, "We are excited about the upcoming drilling program. Silverjack and Nash Creek are both hosted within volcano-sedimentary sequences of the Jacquet River graben and are evidence of a huge mineralizing system. There is a significant opportunity to increase the overall tonnage of the two properties by drilling at Silverjack. SLAM is committing the majority of its 2010 budget to a campaign designed to advance Silverjack and Nash Creek."
SLAM is a mineral resource company based in Miramichi, New Brunswick. SLAM continues to be active in gold and base metal exploration in Ontario and New Brunswick and has recently reported rare earth minerals at Silverjack. 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.
Additional information about SLAM can be viewed at http://www.slamexploration.com as well at www.sedar.com.
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 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: Corporate Inquiries: Mike Taylor, President & CEO, (506) 627-1353, Toll Free: (866) 523-6719, firstname.lastname@example.org