MIRAMICHI, NB, June 24 /CNW/ - SLAM Exploration Ltd. (TSX-V: SXL)
("SLAM"), a gold and base metal resource company, has completed a review of
its gold projects in north-western Ontario. The Company seeks to advance these
projects through joint venture participation or a strategic partnership. More
information on this attractive portfolio of gold projects is available on our
website at http://www.slamresources.com/projects/ontario/.
The most advanced project is Reserve Creek. SLAM completed a total of 13
holes in 2 drilling campaigns on the Williamson Zone in 2003 and 2008. Of
these, 12 holes intersected significant gold mineralization ranging in grade
from 1.20 to 15.89 g/t gold over core lengths from 0.4 to 9.5 metres. The
Williamson zone has a known strike length of 350 metres and is open along
strike and at depth.
SLAM made a new gold discovery grading 6.05 g/t gold over a core length
of 1.5 metres on its 70% owned Keezhik property in 2008. This discovery,
referred to as the PEN zone is open at depth and along strike. It is
associated with a 2,000 metre long humus geochemical anomaly along a porphyry
The Company also confirmed a known gold occurrence by drilling one hole
on the KCR zone at Miminiska in 2008. This hole intersected a silicified zone
grading 5.97 g/t gold over 2.0 metres. The KCR zone is open at depth and along
strike where it is associated with a prominent shear zone.
Results to date indicate a large number of gold occurrences generated by
huge hydrothermal systems extending from our westernmost claims at Miminiska
to Reserve Creek, a distance of 75 km. SLAM hold interests in 84 claims
covering 13,920 hectares comprising a regional play in the Uchi Sub-province
of north-western Ontario. This prolific gold producing area is host to the Red
Lake gold mining camp where Goldcorp operates one of the world's most
profitable gold producers, the Red Lake Mine.
Michael R. Taylor, P.Geo. SLAM's President & CEO, is the Qualified
Person, as defined under National Instrument 43-101, responsible for the
technical results reported in this news release.
At a recent Board of Directors meeting, Bruce Freeman notified the Board
that he did not wish to stand for re-election and tendered his resignation
effective 18 June 2009. We thank Mr. Freeman for his many contributions to the
SLAM Exploration Ltd. is a mineral resource company based in Miramichi,
New Brunswick. It is engaged in gold exploration in the Uchi sub-province of
northwest Ontario as well as base metal exploration in New Brunswick.
Additional information about SLAM and its projects is available at
www.slamexploration.com or from SEDAR filings at www.sedar.com. The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
On behalf of the Board
Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.
For further information:
For further information: Corporate Inquiries: Mike Taylor, President &
CEO, (506) 627-1353, Toll Free: 866-523-6719, http://www.slamexploration.com