Drilling Planned At Zinc-Lead-Silver Deposit
MIRAMICHI, NB, Feb. 9, 2015 /CNW/ - SLAM Exploration Ltd. (TSXV: SXL) (the "Company") announces it has signed a contract for a two-phase diamond drilling program on its wholly-owned Superjack zinc-lead-silver deposit in the Bathurst Mining Camp ("BMC") of New Brunswick. Phase I drilling will comprise approximately 1200 m of drilling expected to start immediately.
The program is designed to test for deep mineralization adjacent to ore-grade intercepts previously drilled by SLAM in its 2011-2012 program at Superjack Zone A. These intercepts are well below the limits identified by previous workers and show potential for significant new extensions at depth.
The Superjack project is comprised of 2 claims covering 1680 hectares of highly prospective volcano-sedimentary strata located 15 km west of Glencore's Brunswick No. 12 mine which processed 150 million tonnes prior to closure in 2013. Although SLAM acquired the Superjack property by staking in 2002, exploration dates back to 1957 when previous workers discovered 3 zones then known as Nepisiguit A, B and C zones. The deepest intercept by previous workers was drilled in 1994 at a vertical depth of 230 m in Zone A.
The deepest intercept by SLAM comprises a 4.1 metre core interval of massive sulphides grading 10.11% zinc, 1.24% lead, 0.30% copper and 32.84 g/t silver at a vertical depth of 460 m in hole NP11-39. This intercept is 230 m below any previous drilling intercepts and is open laterally and at depth. Superjack Zone A is a VMS (volcanogenic massive sulphide) deposit similar to much larger deposits in this area including Brunswick No. 12.
About SLAM Exploration Ltd.:
SLAM is a project generator with a portfolio of road accessible mineral properties within driving distance of the corporate head office in Miramichi, New Brunswick. This portfolio includes the Superjack (formerly Nepisiguit) and Nash Creek base metal-silver deposits that both contain resources conforming to NI43-101 standards. The Company discovered an extension of the Superjack-A massive sulphide deposit in 2011 and discovered the Maisie gold deposit on its Menneval project in 2012. The Company also owns a significant gold portfolio in Ontario that includes the Reserve Creek gold deposit. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com. Follow us on twitter @SLAMGold.
Certain information in this press release may constitute forward-looking information, including statements that address the Private Placement, the closing of the Private Placement, future production, reserve potential, exploration and development activities and events or developments that the Company expects. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE SLAM EXPLORATION LTD.
For further information: Corporate Inquiries: Mike Taylor, President & CEO, 506.627.1353, Toll Free: 866.523.6719, Info: [email protected]