Slam Exploration Ltd.

Published : December 09th, 2010

DRILLS MORE INTERCEPTS AT RESERVE CREEK GOLD DEPOSIT

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Slam Expl. drills more intercepts at reserve creek gold deposit

 

 

 

 

 

SLAM Exploration Ltd. (TSX-V:SXL - News; "SLAM") announces visible gold in 2 of the first 3 diamond drill holes in a 2,000 m program at its wholly owned Reserve Creek project in the Fort Hope area of Ontario. All 3 holes RS10-17 to 19 intersected silicified tuffs with pyrrhotite-pyrite mineralization similar to hole RS10-16 drilled in June 2010. SLAM reported bonanza grade gold mineralization with individual samples up to 274 g/t gold over 0.5 meters within a 16.85 m core interval grading 16.45 g/t gold from hole RS10-16 (news release 17 August 2010).

Hole RS10-17 intersected a 14 m core interval of silicified tuff containing pyrrhotite-pyrite mineralization from 21 m to 35 m and specks of visible gold at 31.2 m. RS10-18 intersected similar mineralization over a 34.5 m core interval from 30 to 64.5 m. Hole RS10-19 intersected an 11 m mineralized core interval from 53.0-64.0 m with fine specks visible gold at 53.4 and 53.6 m.

Holes RS10-17 to 19 were drilled from same set-up at 45 o, 60 o and 70 o and to depths of 60.96m, 85.34m and 140.21m respectively to define a section 15 m east of bonanza hole RS10-16. After hole RS10-19 the drill moved to a site 15 m west of hole RS10-16 to drill a similar pattern of 3 holes. The Company will continue to utilize this effective pattern to potentially expand the bonanza gold zone laterally. This is delineation drilling with an ultimate goal of advancing the deposit to NI 43-101 status. To achieve this, the Company is planning additional drilling in 2011 and is building its treasury to over $5M with a financing to close next week.

Michael R. Taylor, P.Geo. President and CEO of SLAM is the Qualified Person responsible for the technical information contained herein. The core intervals described are drilled intervals. True thicknesses are unknown. Reserve Creek drilling activities are progressing in consultation with Eabametoong First Nation ("EFN") in accordance with a recently signed Exploration Agreement. This Agreement calls for EFN and SLAM to work cooperatively to advance the gold potential of the Fort Hope area.

About SLAM: SLAM is a mineral resource company based in Miramichi, New Brunswick and is currently drilling for gold in Ontario and for 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.




To view this news release in HTML formatting, please use the following URL:
http://www.cnw.ca/en/releases/archive/December2010/09/c3856.html

 

For further information

SLAM Exploration Ltd. Mike Taylor, President & CEO 506.627.1353 Toll Free: 866.523.6719 miketaylor@slamexploration.com

 

 

Slam Exploration Ltd.

EXPLORATION STAGE
CODE : SXL.V
ISIN : CA8310042053
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Slam Expl. is a zinc and lead development stage company based in Canada.

Slam Expl. holds various exploration projects in Canada.

Its main exploration properties are LEWIS BROOK, OPIKEIGEN, SILVERJACK, TSN, MIMINISKA-KEEZHIK, COSTIGAN, NASH CREEK, NEPISIGUIT, CADMAN LAKE and RESERVE CREEK in Canada.

Slam Expl. is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.0 millions as of today (US$ 741 098, € 665 728).

Its stock quote reached its highest recent level on May 27, 2005 at CA$ 9.90, and its lowest recent point on April 30, 2020 at CA$ 0.01.

Slam Expl. has 28 780 000 shares outstanding.

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Financings of Slam Exploration Ltd.
7/4/2013Closes First Tranche of Private Placement
6/3/2013Announces $800,000 Private Placement
10/31/2012Announces $1M Private Placement
Project news of Slam Exploration Ltd.
3/18/2015SLAM completes drilling program at Superjack
2/19/2015SLAM drilling program continues at Superjack
2/11/2015Slam launches Superjack drilling program
2/9/2015SLAM signs drilling contract for Superjack
2/18/2011(Silverjack)COMPLETES DRILLING AT SILVERJACK
1/21/2011(Reserve Creek)CUTS 19.7 M CORE INTERVAL GRADING 4.99 G/T GOLD
Corporate news of Slam Exploration Ltd.
3/18/2015completes drilling program at Superjack
2/24/2015Slam announces $600,000 private placement
2/19/2015drilling program continues at Superjack
10/31/2013Presenting at Exploration, Mining & Petroleum 2013 in Freder...
10/22/2013Digging Gold at Menneval
9/17/2013Digging for Gold at Menneval
8/6/2013Announces Change of Auditor
8/6/2013Announces Change of Auditor
7/25/2013Holds Annual and Special Meeting
3/27/2013Reports Successful Gold Liberation Tests
3/19/2013Drills 121 g/t Gold Over 0.31 m
3/13/2013Drills 22.97 g/t Gold Over 1.9 m
2/11/2013Drilling Phase II Program on Gold Discovery
1/29/2013Announces Metallurgical Study on Maisie Zone
1/23/2013Presenting at Global Chinese Financial Forum
1/17/2013Reports 0.30 m Interval Grading 104 g/t Gold
1/10/2013s Diamond Drilling Program
1/4/2013s 47 Hole Diamond Drilling Program
12/12/2012Diamond Drill Holes Hitting Gold Target
11/8/2012Team Members Receive Prospector of the Year Award for Gold D...
10/22/2012Assays Up to 1100 g/t Gold Over 1.1 Metre
10/22/2012Assays Up to 1100 g/t Gold Over 1.1 Metre
9/18/2012Presenting at CIM-NB Branch 37th Convention
9/13/2012Announces Grant of Stock Options
4/27/2011UPGRADES SILVER, LEAD, ZINC IN DEPOSIT
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