Assays Reported on 3 Diamond Drill Holes
MIRAMICHI, NB, July 26 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") and Beatrix Ventures Inc. (CNSX: BXV) ("Beatrix") announce gold assays received for 3 of 4 diamond drill holes completed on Zone 12 of the Opikeigen Gold Joint Venture.
Hole OG10-01 intersected 2 auriferous intervals with 2.48 g/t gold over 3.17 m (0.072 oz/ton over 10.4 ft.) and 1.9 g/t gold over 1.5 m (0.055 oz/ton over 5 ft). Drill Hole OG10-02 intersected 0.96 g/t gold over 1.8 m ( 0.028 oz/ton over 5.9 ft.) at 210 m.
Drill Hole OG10-04 intersected 2 intervals grading 5.05 g/t gold over 2.3 m (0.147 oz/ton over 7.5 ft) and 1.44 g/t gold over 4.26 m (0.042 oz/ton over 14 ft) respectively. These occur within a broad mineralized zone grading 0.58 g/t gold over 51.3 m starting at 180m. Assays are pending on drill hole OG10-03.
The drilling program tested Zone 12 gold mineralization over a 40 m strike length to the west and east of high grade gold intercepts in hole OL87-46 previously drilled in 1987. Hole 46 intersected mineralized sections of 113.57 g/t gold over 0.1 m and 49.66 g/t gold over 0.2 m reported to contain visible gold within a core interval grading 6.22 g/t gold over 7.00 m. These results pre-date NI 43-101 regulations and can only be verified by additional drilling.
Zone 12 gold mineralization is hosted within iron formations and mafic volcanics similar to the rocks hosting the historic Pickle Crow gold mine where PC Gold Inc. (TSE:PKL) recently announced successful drilling results (press release 20 July 2010) near Pickle Lake, Ontario. These volcano-sedimentary sequences are part of the Uchi Subprovince, a huge system of greenstone belts extending from Lake Winnipeg to the Hudson Bay lowlands hosting the Bissett gold mining camp in Manitoba and, in Ontario, the world-famous Red Lake gold mining camp as well as the Pickle Lake and Fort Hope gold areas.
All drill cores were delivered from the drill sites to a facility in Fort Hope for logging and sampling. Selected cores were split or sawn with half retained for reference. Sampled halves were shipped to Act-Labs in Thunder Bay for gold assay. Standards and blanks were inserted in the sample batches to augment the Quality Assurance and Quality Control program of duplicates and standards utilized by the laboratory. All intervals reported are drilled core lengths. The true widths are unknown. Michael R. Taylor, P.Geo. President and CEO of SLAM and Director of Beatrix is the Qualified Person responsible for the technical information contained herein.
The 4 holes at Opikeigen were part of a 10 hole program completed by SLAM in the Fort Hope area. In addition to hole 3 at Opikeigen, assays are pending on 3 holes drilled on SLAM's wholly-owned Reserve Creek project. Visible gold was reported for all 3 holes drilled at Reserve Creek.
The drilling activities have been performed 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 Hope area.
About Beatrix: Beatrix is a mineral resource company based in Vancouver, British Columbia recently formed to focus on gold projects. Beatrix owns 50% of the Opikeigen Gold Joint Venture. Additional information about Beatrix and its projects is available at www.beatrixventures.com or from SEDAR filings at www.sedar.com
About SLAM: SLAM is a mineral resource company based in Miramichi, New Brunswick and continues to be active in gold, silver and base metal exploration in Ontario and 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.
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