Now drilling new copper showing 1000 m south of Silverjack
MIRAMICHI, NB, Dec. 3 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") announces it has drilled 14 holes to date for a total of 1620 m on its Silverjack property in New Brunswick. Thirteen of the holes intersected visible lead, zinc and/or copper mineralization over core intervals ranging from 0.3 m to 10.0 m at depths ranging from 30 to 90 metres. Assays are pending on 190 samples representing 170 m of mineralized core.
The most significant hole is SJ10-27 with visible copper-lead-zinc mineralization over a 10 m core length at a depth of 60 m hosted within altered limestone. This hole is 70 m northeast of 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 drilling program has traced the mineralization 400 m northeast of the Silverjack zone with a lead-zinc bearing core interval of 4 m in hole SJ10-33. This hole is 200 m northeast of the 200 m northeast of the Knowles vein. Hole SJ10-34 drilled beneath the Knowles vein intersected a sequence of altered sediments similar to those hosting the Silverjack zone.
The drill is now testing a copper showing 1000 m south of the Silverjack zone in the same sequence of altered limestone and conglomerate. This new copper vein was discovered during the summer by SLAM's exploration team and excavated over a strike length of 80 m by trench TR10-03. Grab samples from the trench range 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.
The Company expects to complete this 3,000 m phase of drilling on or about 15 December, 2010. To support the drilling program, the Company has been awarded a provincial grant of $35,000 under the New Brunswick Junior Mining Assistance Program. Additional information about Silverjack can be viewed at: www.slamresources.com/projects/new-brunswick/silverjack.
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.
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.
For further information: For further information:
Mike Taylor, President & CEO
Toll Free: 866.523.6719