Miramichi, New Brunswick SLAM Exploration Ltd. ($SXL:CA) (the “Company”) is pleased to announce receipt of a License of Occupation that authorizes SLAM to complete test mining and bulk sampling of the Maisie gold vein over a 2 year period. In connection with this License, the Department of Environment and the Department of Energy and Mines have both approved the removal and processing of a bulk sample from this high grade gold vein in New Brunswick.
The Company proposes to extract the sample from known shoots of high grade mineralization at surface using an excavator. These high grade shoots are represented by channel samples ranging from 5.17 g/t gold over 1.0m up to 49.5 g/t gold over 0.45m cut during a 2013 trenching program by SLAM. The initial discovery of this vein yielded a bonanza grade chip sample grading 1100 g/t gold over 1.1 m from a trench in 2012. Drilling indicates the high grade shoots extend to a depth of 30 m with a core interval grading 44.53 g/t gold over 0.85m in hole MG1363. The Company has drilled 64 holes to date on the Maisie vein.
No drilling or blasting is required for this program. The extracted material will be processed using gravity based equipment to separate the gold. No chemicals will be used in the process. The purpose is to develop environmentally sustainable techniques to extract gold, provide an estimate of the grade of the Maisie vein and demonstrate the potential for longer term mining operations.
About The Menneval Project:
SLAM holds 100% interest in 8 contiguous claims that cover 12,000 hectares acquired by mapstaking near Menneval in northwest New Brunswick. The extensive property hosts a number of new gold discoveries including the Maisie vein and Zone 9. Click on the SXL website at http://www.slamexploration.com/wp/?page_id=216 for more detailed information.
About SLAM Exploration Ltd.:
SLAM is a project generating resource company with a portfolio of gold and base metal projects in eastern Canada. The Menneval gold project resulted from discovery of the Maisie gold deposit by SLAM’s advance scouting team in 2012. Other gold projects include the Reserve Creek and Miminiska gold projects in Ontario. SLAM also owns a base metal portfolio that includes the Superjack (formerly Nepisiguit) and Nash Creek zincleadsilver deposits.
Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com. Follow us on twitter @SLAMGold.
Qualifying Statements: Mike Taylor, P.Geo. President and CEO of SLAM Exploration Ltd., is the Qualified Person responsible for the technical information contained herein.
Certain information in this press release may constitute forward-looking information, including statements that address the Private Placement, the closing of the Private Placement, future production, reserve potential, exploration and development activities and events or developments that the Company expects.
This information is based on current expectations that are subject to significant risks and uncertainties
that are difficult to predict. Actual results might differ materially from results suggested in any forward-
looking statements. 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.sedar.com. 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.
Mike Taylor, President & CEO
Eugene Beukman, CFO
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