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SLAM
Exploration Ltd. (TSX-V:SXL) ("SLAM") announces it has completed
a drilling program on its Silverjack
property in New Brunswick with a total of 2884m
drilled in 22 holes. After Silverjack the drill was
moved to Nash Creek.
The
final 2 holes at Silverjack were SJ11-41 and 42
drilled near the Doyle copper-silver occurrence. SJ11-41 intersected 4 zones
containing sulphides and copper mineralization over
drill core intervals ranging from 0.3 to 1.33m, the latter at a depth of 108.1m.
Assays are pending on these copper intercepts. This hole is beneath a trench
dug by previous workers. During the 2010 prospecting program, SLAM collected
2 grab samples from rubble beside the trench that assayed 8.67% copper with
171 g/t silver and 4.99 % copper with 150 g/t silver respectively.
A
2500m long aeromagnetic trend is associated with this copper zone. It occurs
within sediments and limestones similar to the Silverjack deposit 1,000m to the east where SLAM
previously reported high grade drilling results ranging up to 653 g/t (19.05
oz/ton) silver, 2.69% copper, 11.9% zinc and 9.8% lead (news release 16
February, 2010). Both the Doyle and Silverjack
zones are historic occurrences acquired through agreements with prospectors.
Holes
SJ10-32 to SJ11-38 were drilled to test for
potential extensions up to 1600m south of the Silverjack
zone. These holes intersected limestones and
sediments with local zones of lead-zinc mineralization. The most significant
intercepts were in hole SJ11-38 with individual samples ranging up to 12.36%
lead-zinc over 0.3m and anomalous intervals up to 0.75% lead-zinc over 18.7m.
Holes SJ11-35, 39 and 40 tested a copper occurrence discovered in the 2010
prospecting program. Hole SJ11-35 intersected 5.23% copper, 42 g/t silver and
1330 g/t cobalt over 0.3m.
The
significant grades combined with multiple occurrences over a large area
suggest the presence of a large scale mineralized system. The Company plans
additional trenching and drilling in 2011 to test for extensions to high
grade silver, copper, lead and zinc mineralization at both the Silverjack and Doyle occurrences.
Mike Taylor, P.Geo.
President & CEO is the Qualified Person responsible for the technical
information contained herein. Drill cores were delivered from the drill to a
secure site for logging and sampling. Selected drill cores were split or sawn
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 on selected samples. The
Company used blank and standard samples for quality assurance and control.
About
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.
The Company has been awarded a provincial grant of $35,000
under the New Brunswick Junior Mining
Assistance Program to support this drilling program. Additional information
about Silverjack can be viewed at: www.slamresources.com/projects/new-brunswick/silverjack.
About
SLAM Exploration Ltd:
SLAM is a mineral resource company based in Miramichi,
New Brunswick and is actively
exploring for gold in Ontario and silver-copper-lead-zinc in 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.
SEDAR: 00012459E
This
news release does not constitute an offer to sell or a solicitation of an
offer to sell any of securities in the United States. The securities
have not been and will not be registered under the United
States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within the United States or to U.S. Persons
unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
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.
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