(TheNewswire)
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Logan Zone Extensions at Depth of 200 Meters in GW24-14
November 20th, 2024 – TheNewswire - Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (“SLAM& or the “Company&) (TSXV-SXL) is pleased to announce it has drilled massive sulphides at the bottom of a 62 meter zone of net textured sulphides in hole GW-14. The Company also reports a 30 meter mineral zone in hole GW24-13. Both holes were drilled on the Logan zone These are the latest results from Slam&s wholly owned Goodwin Project located 35 kilometers south of the Caribou mine and mill complex in the Bathurst Mining Camp (“BMC&) of New Brunswick.
GW24-13 intersected a 30 meter zone of disseminated to net-textured sulphide mineralization. Hole GW24-13 was 35 meter step ahead of hole GW24-09. Hole GW24-14 intersected a 9.30 meter zone of 40% to 85% sulphides at the bottom of a 62.00 meter mineral zone of net textured pyrrhotite.GW24-14 was set up 60 meters behind hole GW24-09 and designed to test the depth extent of the mineral zone previously reported in GW24-09. Assays are pending on 166 samples from holes GW24-13 and GW24014. The summary logs are tabled below:
|
Hole Number |
From-To Meters |
Interval Meters |
Description |
Mineralization |
|
GW24-13 |
0.00–9.00 |
9.00 |
Casing |
|
|
GW24-13 |
9.00-75.00 |
66.00 |
Gabbro |
1-3% Sulphides |
|
GW24-13 |
75.00-92.00 |
17.00 |
Mineral Zone-Gabbro |
5-10% Sulphides |
|
GW24-13 |
92.00-105.00 |
13.00 |
Mineral Zone-Gabbro |
20-30% Sulphides |
|
GW24-13 |
105-121.50 |
16.50 |
Gabbro |
1-3% Sulphides |
|
GW24-13 |
121.50-140.00 |
18.50 |
Gabbro |
0.5% Sulphides |
|
GW24-13 |
140.00 |
End Of Hole |
||
|
GW24-14 |
0.00–2.60 |
2.60 |
Casing |
|
|
GW24-14 |
2.60-144.40 |
141.80 |
Mafic Volcanic (MV) |
1-3% Sulphides |
|
GW24-14 |
144.40-157.50 |
13.10 |
Mineral Zone-Gabbro |
12-15% Sulphides |
|
GW24-14 |
157.50-170.39 |
12.89 |
Mineral Zone-Gabbro |
30-40% Sulphides |
|
GW24-14 |
170.39-198.70 |
28.31 |
Mineral Zone-MV |
5-10% Sulphides |
|
GW24-14 |
198.70-203.25 |
4.55 |
Mineral Zone-MV |
40% Sulphides |
|
GW24-14 |
203.25-208.00 |
4.75 |
Mineral Zone |
75-85% Sulphides |
|
GW24-14 |
208.00-246.00 |
38.00 |
Mafic Volcanic |
0.5% Sulphides |
|
GW24-14 |
246.00-262.50 |
16.5 |
Gabbro |
1-3% Sulphides |
|
GW24-14 |
262.50-265.50 |
3.00 |
Felsic Dike |
0.5% Sulphides |
|
GW24-14 |
265.50-267.80 |
2.30 |
Breccia |
1% Sulphides |
|
GW24-14 |
267.80-272.00 |
4.20 |
Gabbro |
|
|
GW24-14 |
272.00 |
End of Hole |
Figure 1 shows the mineral zone in diamond drill hole GW24-14 from 197 meters to 207 meters.
Click Image To View Full Size
Figure 1 GW24-14 Core Interval 197 to 209 Meters
Figure 2 shows the Logan zone drilling plan over a color background of aeromagnetics. Assays are pending on holes GW24-08, GW24-09, GW24-13 and GW24-14. After hole 14, the drill was moved 50 meters southeast to drill GW24-15.
Figure 2 Logan Zone Aeromagnetics, Diamond Drilling Plan
Click Image To View Full Size
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 GW24-13 and GW24-14 are based on visual observations of the core. The results for holes GW24-01 to GW24-03 were previously reported by SLAM in news releases dated between July 30, 2024 and 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: 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:
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A 60.60-meter core interval grading 1.17% copper equivalent in hole GW24-03
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A 64.90-meter core interval grading 2.14% copper equivalent in hole GW24-02
The Company has reported additional holes drilled in a follow-up program currently in progress at Goodwin. Assays are pending.
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.
Slam 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 uncertaintiesthat are difficult to predict. Actual results might differ materially from results suggested in any forward-lookingstatements. 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 mike@slamexploration.com
Eugene Beukman, CFO
Contact: 604-687-2038 ebeukman@pendergroup.ca SEDAR+: 00012459
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