SLAM completes drilling program at Superjack

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Drill Hole Intersects Superjack Deep Zone

MIRAMICHI, NB, March 18, 2015 /CNW/ - SLAM Exploration Ltd. (SXL:CA) (the "Company") announces results from drilling on its wholly-owned Superjack zinc-lead-copper-silver deposit in the Bathurst Mining Camp ("BMC") of New Brunswick. One hole SJ15-86 was completed to a depth of 566 m after drilling through volcanogenic massive sulphide ("VMS") style mineralization from 261.35 to 261.64 and from 507.25 to 521.60m.

The mineralized interval at 261.35 is well above the Superjack mineralized horizon and suggests potential for discovery of additional deposits to the north of Zone A. Further down, hole SJ15-86 intersected a 7.8 m zone of mineralized stringer sulphides from 507.25 to 515.05m followed by a 2.4 m VMS interval from 519.20 to 521.60m. This interval is believed to be the upper edge of the Superjack deep zone but was intersected at a shallower level than planned. The results suggest that the zone of high grade mineralization previously intersected by hole NP11-39 plunges beneath hole SJ15-86.  Assay results are summarized as follows:

 

Hole ID

From (m)

To (m)

Length

Zinc%

Lead%

Copper%

Silver g/t

SJ15-86

261.35

261.64

0.29

8.72

3.64

0.038

31.00

SJ15-86

507.25

515.05

7.80

1.56

0.35

0.12

13.19

SJ15-86

519.20

521.60

2.40

3.19

0.93

0.32

39.08

SJ15-86

520.45

521.15

0.70

6.27

2.71

0.30

77.00

 

The drilling program stopped after hole SJ15-86.  The program was supported in part by a grant of $37,500 under the NBJMAP program. The Company wishes to thank the Province of New Brunswick for its continued support of this project.

Additional work is planned in 2015. Pending financing, the 2015 program is expected to include trenching and drilling to upgrade the near-surface resource (2012 NI43-101 Technical Report) as well as drilling to test the deep zone at Superjack.

About Superjack:

The Superjack project is comprised of 2 claims covering 1680 hectares of highly prospective volcano-sedimentary strata located 15 km west of Glencore's Brunswick No. 12 mine which processed 150 million tonnes prior to closure in 2013. SLAM staked the property in 2002, after previous workers completed multiple exploration campaigns dating back to discovery of Zones A, B and C in 1957. After drilling 85 holes, SLAM reported inferred resources for Superjack A and C zones in a NI43-101 Technical Report published in 2012. Superjack zones A and C are VMS (volcanogenic massive sulphide) deposits similar to large deposits in this area including Brunswick No. 12.

About SLAM Exploration Ltd.:

SLAM is a project generator with a portfolio of road accessible mineral properties within driving distance of the corporate head office in Miramichi, New Brunswick. This portfolio includes the Superjack (formerly Nepisiguit) and Nash Creek base metal-silver deposits that both contain resources conforming to NI43-101 standards. The Company discovered an extension of the Superjack-A massive sulphide deposit in 2011 and discovered the Maisie gold deposit on its Menneval project in 2012.  The Company also owns a significant gold portfolio in Ontario that includes the Reserve Creek gold deposit. 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.

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.

 

SOURCE SLAM EXPLORATION LTD.

For further information: Corporate Inquiries: Mike Taylor, President & CEO, 506.627.1353, Toll Free: 866.523.6719, Info: info@slamexploration.com

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

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