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SLAM Exploration Ltd. (TSX-V:SXL)
("SLAM") announces it plans to deploy its exploration team to
resume drilling operations on its wholly owned Reserve Creek gold project on 15 January 2011. This is a continuation of 9 holes
drilled for a total of 1145 m in December. Mineralized zones occur in all 9
holes over core intervals ranging from 3.5 m to 29.85 m.
Visible gold occurs in 5 of the holes.
Assays are pending on 555 samples that
were submitted for gold assay and representing 525 m of mineralized core from
the 9 holes. Initial assay results are expected on or about 11 January 2011. These holes are testing the strike
extent up to 230 m from bonanza grade intercepts in hole RS10-16 previously
drilled in June 2010. Hole RS10-16 intersected
16.45 g/t gold over a 16.85 m core interval with individual samples grading
up to 274 g/t gold over 0.5 m (news release 17 August 2010).
The Company expects to complete the
current 2000 m contract program in the next few weeks and plans to extend the
program through the winter months of 2011.
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 Reserve Creek and other SLAM projects in the
Fort Hope area of Ontario.
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.
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