Diamond Drilling For High Grade Gold in Zone 12
MIRAMICHI, NB, June 3 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") and Beatrix Ventures Inc. (CNSX: BXV) ("Beatrix") announce that drilling is in progress on hole OG10-01 on the Opikeigen Gold Joint Venture held in 50/50 joint ownership between SLAM and Beatrix.
Hole OG10-01 is expected to intersect Zone 12 approximately 12.5 metres west of a high grade intercept in hole OL87-46 at a depth of approximately 150 m. Hole 46, previously drilled in 1987, intersected an interval grading 6.22 g/t gold over 7.00 m at a depth of 141 m. This interval included high grade 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. These intervals are drilled core lengths. The true widths are unknown. The results pre-date NI 43-101 regulations and can only be verified by additional drilling.
SLAM and Beatrix expect to complete approximately 1,000 m of diamond drilling at Opikeigen with 6 holes designed to test for potential extensions of Zone 12 at depth and along strike. Zone 12 is a shear related gold zone associated with quartz-carbonate alteration and veining in mafic volcanic, iron formation and gabbro host rocks. Beatrix recently filed a 43-101 Technical Report on the 4,144 hectare, 38 claim Opikeigen gold property.
Before moving to Opikeigen, SLAM completed 2 holes at its Miminiska gold project to test for extensions to an intercept in hole MK08-19. Both holes intersected quartz wacke zones with up to 2% pyrite over 3.4 m in hole MM10-01 and over 5.5 m in hole MM10-02. These drilled intercepts are similar to a 2 m interval that averaged 5.97 g/t gold in MK08-19. After drilling at Opikeigen, the drill will move to SLAM's wholly owned Reserve Creek project to conclude the final phase of the 2,000 m drilling contract.
These projects are located in the Fort Hope area east of the historic Pickle Lake gold camp where PC Gold Inc. (TSE:PKL) recently announced successful drilling results (press release 23 March 2010). The Fort Hope and Pickle Crow areas are underlain by Uchi Subprovince rocks similar to the world-famous Red Lake gold mining camp.
All of these projects lie within EFN traditional territories. SLAM and EFN recently signed an Exploration Agreement whereby SLAM and EFN will work cooperatively to advance their gold potential.
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.
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.
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, (506) 627-1353, Toll Free: (866) 523-6719, firstname.lastname@example.org; Beatrix Ventures Inc.: Eugene Beukman - President, (604) 687-2038; www.beatrixventures.com.