Mineralized Intercepts Extend 1600 m Along Strike
MIRAMICHI, NB, Dec. 17 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") announces it has completed 18 holes to date for a total of 2400 m on its diamond drilling program at Silverjack in New Brunswick. Seventeen of the holes intersected visible lead, zinc and/or copper mineralization over core intervals ranging from 0.3 m to 17.5 m at depths ranging from 8 to 150 metres. The Company anticipates receiving assays on the initial holes within the next few days.
The latest hole SJ10-38 intersected visible lead-zinc mineralization over a 16.5 m core length from 8.5 m to 25 m beneath a trench 1000 m southwest of Silverjack. Other recent intercepts in this area include a 0.4 m interval of semi-massive sulphides with visible copper-lead-zinc mineralization in hole SJ10-35 at a depth of 20 m beneath a new copper discovery. Trenching this copper vein produced grab samples ranging up to 8.0 % copper, 86 g/t silver, 1480 ppm cobalt, 1.82 ppm indium and 222 ppb gold as reported by press release 28 October 2010. To extend the mineralization even further, hole SJ10-36 intersected lead-zinc mineralization over a core length of 5 m at a depth of 150 m beneath a soil anomaly 1600 m southwest of Silverjack. The Company is logging and sampling these latest holes.
This 3,000 m program is a follow-up to a drilling program completed early in 2010 by SLAM. Highlights of that program include hole SJ09-14 which intersected 653 g/t silver, 2.69% copper, 2.00% zinc and 2.34% lead over a core interval of 0.75 m within a 6.6 m interval grading 268.20 g/t silver, 1.27 % copper, 5.65% zinc and 4.53% lead as announced by press release 16 February 2010. The Company expects to complete the remainder of the program in January 2011. The Company has been awarded a provincial grant of $35,000 under the New Brunswick Junior Mining Assistance Program to support this drilling program.
The recently expanded Silverjack property comprises 160 wholly owned mineral claims plus 13 claims under option for a total of 3715 hectares. The property is 4 kilometres from the Belledune smelter and seaport and is adjacent to SLAM's Nash Creek property comprised of 406 mineral claims covering 6,496 hectares. Additional information about Silverjack can be viewed at: www.slamresources.com/projects/new-brunswick/silverjack.
Derek F. Brown, P.Geo. and consultant to SLAM, is the Qualified Person responsible for the technical information contained herein. The lengths tabulated above are measured core intervals in metres. The true thicknesses are unknown. Drill cores were delivered from the drill to a secure site for logging and sampling. Selected drill cores were split and one half sent to Activation Laboratories. Activation Labs analyzed the samples using code 8AR for silver, copper, zinc, lead and code Ultratrace 2 for multi-elements. The Company used blank and standard samples for quality assurance and control.
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. 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 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.
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|Mike Taylor, President & CEO
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