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Summary Logs from the Granges Copper Nickel Cobalt Zone
November 8th, 2024 – TheNewswire – Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (“SLAM” or the “Company”) (TSXV-SXL) is pleased to announce preliminary results from holes GW24-10, GW24-11, and GW24-12 drilled on the Granges zone at its wholly owned Goodwin Project located 35 kilometers south of the Caribou mine and mill complex in the Bathurst Mining Camp (“BMC”) of New Brunswick.
Hole GW24-10 was drilled from a site 20 meters southeast of GW24-02 and intersected 2 mineral zones over 0.94 meters and 2.18 meters respectively. GW24-11 stepped a further 20 meters southeast and intersected an 18.00 meter zone of mineralization. GW24-12 was drilled behind GW24-02 and intersected an 8.65 meter zone with massive sulphide lenses up to 1.5m thick. These holes were designed to test the extent of copper nickel mineralization in hole GW24-02 that intersected 31.20 meters grading 1.32% copper, 1.11% nickel and 0.09% cobalt. Approximately 89 samples from these 3 holes are being sawn and shipped for analysis. The summary logs are tabled below:
|
Hole Number |
From-To Meters |
Interval Meters |
Description |
Mineralization |
|
GW24-10 |
0.00–6.00 |
6.00 |
Casing |
|
|
GW24-10 |
6.00-32.22 |
26.22 |
Mafic Volcanic |
0.5% Sulphides |
|
GW24-10 |
32.22-33.16 |
0.94 |
Mineral Zone |
50% Sulphides |
|
GW24-10 |
33.16-38.92 |
5.76 |
Gabbro |
1% Sulphides |
|
GW24-10 |
38.92-41.10 |
2.18 |
Mineral Zone |
15% to 20% Sulphides |
|
GW24-10 |
41.10-101.00 |
59.90 |
Gabbro |
1% Sulphides |
|
GW24-10 |
101.00 |
End Of Hole |
||
|
GW24-11 |
0.00–3.00 |
3.00 |
Casing |
|
|
GW24-11 |
3.00-89.00 |
86.00 |
Mafic Volcanic |
0.5% Sulphides |
|
GW24-11 |
89.00-107.00 |
18.00 |
Mineral Zone |
5 to 8% Sulphides |
|
GW24-11 |
107.00-131.00 |
24.00 |
Mafic Volcanic |
0.5% Sulphides |
|
GW24-11 |
131.00 |
End Of Hole |
||
|
GW24-12 |
0.00–4.50 |
4.50 |
Casing |
|
|
GW24-12 |
4.50-59.50 |
54.00 |
Volcanic Tuff |
0.5% Sulphides |
|
GW24-12 |
59.50-68.15 |
8.65 |
Mineral Zone |
Massive Sulphide Seams |
|
GW24-12 |
68.00-98.00 |
30.00 |
Gabbro |
0% Sulphides |
|
GW24-12 |
131.00 |
End Of Hole |
Figure 1 shows the copper-bearing mineral zone from 59.5 meters to 72 meters in diamond drill hole GW24-12.
Click Image To View Full Size
Figure 1 Diamond Drill Hole GW24-12
After hole GW24-12, the drill was moved 500 meters north to drill hole GW24-13 from a site 50 meters ahead of hole GW24-09 on the Logan zone. This was followed by hole GW24-14 at a site located 60 meters behind hole GW24-09. Logging and sampling are in progress on these 2 holes. Figure 2 shows all holes drilled by Slam to date all 3 zones.
Click Image To View Full Size
Figure 2 Goodwin Diamond Drill Hole Sites, Airborne Conductivity
Click SLAM_NAI500_YouTube to view SLAM President & CEO Mike Taylor discussing the Goodwin copper nickel project in a recent interview with Gilbert Chan of NAI 500.
QA-QC Procedures: The core was delivered to a secure facility in Bathurst New Brunswick for detailed logging and sampling. The core descriptions and the summary log for holes GW24-10 to GW24-12 are based on visual observations of the core. The results for holes GW24-01 to GW24-03 were previously reported in news releases by SLAM from July 30, 2024 to August 12, 2024. The historic results from previous workers are derived from New Brunswick assessment files that predate NI43-101 regulations. They can only be validated by additional drilling.
About SLAM Exploration Ltd: SLAM Exploration Ltd. is a public resource company with a substantial portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. The Company recently completed three diamond drill holes on the Goodwin copper-nickel project in the BMC of New Brunswick. Highlights include:
-
A 60.60-meter core interval grading 1.17% copper equivalent in hole GW24-03
-
A 64.90-meter core interval grading 2.14% copper equivalent in hole GW24-02
SLAM has discovered multiple gold veins on its wholly owned Menneval gold project. The Company has reported gold-bearing core intervals, including 162.5 g/t gold over 0.2 meters and 56.90 g/t gold over 0.5 meters (news releases dated December 13, 2021, and November 22, 2022). Additionally, the Company reported quartz float grading up to 39.2 g/t gold on its Jake Lee project, located near the Clarence Stream gold deposit, where Galway Metals Inc. is working on a 2.3-million-ounce gold deposit in southern New Brunswick.
SLAM also owns the Mine Road copper-zinc-silver project, adjacent to the former producing Heath Steele Mines property in the BMC. Previous workers have reported successful diamond drill holes at Mine Road, including IL2014-003, which intersected a 9-meter core interval grading 14.51% zinc, 5.86% lead, 0.67% copper, and 139.9 g/t silver in the volcanogenic massive sulphide Railroad Zone (Doe Run Canadian Exploration ULC; 2015, New Brunswick Assessment Files, Report of Work 477877). The Railroad Zone is located 7,000 meters east of the 20-million-tonne former producing Heath Steele B Zone.
The Company is a project generator and has received significant cash and share payments over the past year. The Company holds NSR royalties and expects additional cash and share payments from the Wedge copper-zinc project and the Ramsay, Reserve Creek, and Opikeigen gold projects.
To view SLAM’s corporate presentation, click SXL-Presentation. Additional information is available on SLAM’s website and on SEDAR+ at www.sedarplus.ca. Follow us on X @SLAMGold.
Qualifying Statements: Mike Taylor P.Geo, President and CEO of SLAM Exploration Ltd., is a qualified person as defined by National Instrument 43-101, and has approved the contents of this news release.
Certain information in this press release may constitute forward-looking information, including statements regarding mineral resources and the Company’s plans with respect to the exploration and development of its properties. 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.sedarplus.ca. 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.
CONTACT INFORMATION:
Mike Taylor, President & CEO
Contact: 506-623-8960 [email protected]
Eugene Beukman, CFO
Contact: 604-687-2038 [email protected] SEDAR+: 00012459
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