MIRAMICHI, NB, Feb. 2 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") is pleased to announce results from an additional 5 diamond drill holes on its Silverjack deposit in northern New Brunswick. These follow intercepts up 592 g/t silver (17.27 oz/ton) in the first hole reported by press release January 11. All 5 additional holes intersected silver-copper-lead-zinc sulphide mineralization as outlined in the table below. Silver grades range from 19.71 g/t (0.58 oz/ton) to 423 g/t silver (12.35 oz/ton).
Silver Copper Silver
Hole From To Length g/t % Zinc % Lead % oz/T
SJ09-02 53.00 56.00 3.00 m 73.00 0.30 0.12 0.11 2.13
SJ09-03 46.50 51.50 1.70 m 19.71 0.20 2.07 1.68 0.58
SJ09-04 46.70 51.35 3.15 m 139.43 0.77 1.70 1.19 4.07
SJ09-04 50.00 50.70 0.70 m 423.00 2.24 5.14 3.06 12.35
SJ09-05 33.00 36.50 2.40 m 86.85 0.53 1.41 1.39 2.54
SJ09-06 44.80 46.20 2.20 m 142.17 0.41 1.39 0.96 4.15
Assays are pending on the remaining 14 holes. The 20 hole drilling program has traced the Silverjack zone over a strike length of 130 metres. Trenching indicates sulphide mineralization in altered and bleached limestone continues southward over a strike-length of 1600 metres.
The Silverjack property comprises 3 claims under option plus 59 wholly owned mineral claims for a total of 992 hectares in the Mitchell area. This property is adjacent to SLAM's Nash Creek zinc-lead-silver deposit (with a 43-101 compliant resource estimate) and 12 kilometres southwest of the Belledune smelter and seaport.
The lengths tabulated above are measured core intervals. 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. Michael R. Taylor, P.Geo. President & CEO of SLAM, is the Qualified Person, as defined under National Instrument 43-101, responsible for management of the Silverjack project and for the results reported in this news release.
"MineralFields Group recently became a major SLAM shareholder by financing $1,175,000 in December," said Mike Taylor, President and CEO. "On behalf of all our shareholders, we are very encouraged by the Silverjack drilling results and look forward to working with MineralFields Group in 2010."
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 Nash Creek. 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