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SLAM Exploration Ltd. (TSX-V:SXL)
("SLAM") announces it has completed 18 holes to date for a total of
2400 m on its diamond drilling program at Silverjack
in New Brunswick. Seventeen of the holes
intersected visible lead, zinc and/or copper mineralization over core
intervals ranging from 0.3 m to 17.5 m at depths ranging from 8 to 150 metres. The Company anticipates receiving assays on the
initial holes within the next few days.
The latest hole SJ10-38 intersected
visible lead-zinc mineralization over a 16.5 m core length from 8.5 m to 25 m
beneath a trench 1000 m southwest of Silverjack.
Other recent intercepts in this area include a 0.4 m interval of semi-massive
sulphides with visible copper-lead-zinc mineralization
in hole SJ10-35 at a depth of 20 m beneath a new
copper discovery. Trenching this copper vein produced grab samples ranging up
to 8.0 % copper, 86 g/t silver, 1480 ppm cobalt,
1.82 ppm indium and 222 ppb gold as reported by
press release 28 October 2010. To extend the
mineralization even further, hole SJ10-36
intersected lead-zinc mineralization over a core length of 5 m at a depth of
150 m beneath a soil anomaly 1600 m southwest of Silverjack.
The Company is logging and sampling these latest holes.
This 3,000 m program is a follow-up to a
drilling program completed early in 2010 by SLAM. Highlights of that program
include hole SJ09-14 which intersected 653 g/t silver, 2.69% copper, 2.00%
zinc and 2.34% lead over a core interval of 0.75 m within a 6.6 m interval
grading 268.20 g/t silver, 1.27 % copper, 5.65% zinc and 4.53% lead as
announced by press release 16 February 2010. The
Company expects to complete the remainder of the program in January 2011. The Company has been awarded a provincial
grant of $35,000 under the New Brunswick Junior Mining Assistance Program to
support this drilling program.
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. Additional information about Silverjack can be viewed at: www.slamresources.com/projects/new-brunswick/silverjack.
Derek F. Brown, P.Geo.
and consultant to SLAM, is the Qualified Person
responsible for the technical information contained herein. The lengths
tabulated above are measured core intervals in metres.
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.
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. 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
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Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.
SEDAR: 00012459E
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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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