Return to News Categories

ALL NEWS SECTIONS:
MOST POPULAR SECTIONS:
Commentary and Educational Cattle - Hogs / Livestock News Currencies News Energy News Grain News Index News Interest Futures News Metals Futures News Reports: Crops, CFTC, etc Soft Commodities News

Futures and Commodity Market News

SLAM Expands Cobalt Footprint

MIRAMICHI, NB, Oct. 11, 2017 (Canada NewsWire via COMTEX) --

More Claims In The Mineral-Rich Province Of New Brunswick

SLAM Exploration Ltd. (TSXV: SXL) ("SLAM" or the "Company") is pleased to announce it has expanded the Ramsay Brook cobalt property (the "Property") by staking 3 claims comprised of 86 units. The claims are adjacent to 2 properties acquired from prospectors as announced in SLAM news releases October 2(nd) and 4(th), 2017. The expanded Ramsay Brook cobalt property covers 2436 hectares located on highway 180 approximately 25 km west of the Caribou mine operated by Trevali Mining Corp. in the Bathurst Mining Camp ("BMC") of New Brunswick, Canada.

Nine holes were drilled on the property by previous workers in 2004. Reported intervals include 0.8m grading 0.956% cobalt within a 4.8m core interval grading 0.352% cobalt. Such higher grade zones typically occur within wider core intervals ranging to 24.8 m grading 0.180% cobalt and 0.182% copper. Significant core intervals from all nine holes are summarized in the table below:

    DDH    From         To  Length   Cu %    Co%

    M04-01       13.8  14.9      1.1   0.849    0.024

    M04-01       33.3  36.3      3.0   0.213    0.190

    M04-01       33.3  34.2      0.9   0.168    0.367

    M04-02       24.9    35     10.1   0.073    0.023

    M04-02       32.6  33.1      0.5   0.160    0.245

    M04-03       23.9  24.4      0.5   0.160    0.010

    M04-04       24.0  48.8     24.8   0.182    0.180

    M04-04       43.0  47.8      4.8   0.019    0.352

    M04-04       45.0  47.8      2.8   0.037    0.721

    M04-04       48.8  50.5      1.7   0.990    0.018

    M04-05       11.0  12.9      1.9   0.469    0.044

    M04-05       28.4  34.5      6.1   0.052    0.314

    M04-05       32.5  34.5      2.0   0.031    0.808

    M04-05       95.4 104.7      9.3   0.111    0.028

    M04-05      102.7 103.7      1.0   0.597    0.011

    M04-06       20.0  21.0      1.0   0.114    0.314

    M04-06       36.0 130.0     94.0   0.097    0.035

    M04-06       37.0  38.0      1.0   0.570    0.140

    M04-06       62.0  63.0      1.0   0.065    0.226

    M04-06       85.0  86.0      1.0   0.116    0.886

    M04-06      101.0 102.4      1.4   0.950    0.009

    M04-07       64.0  68.0      4.0   0.161    0.037

    M04-08        5.5  10.0      4.5   0.040    0.008

    M04-08       54.0  58.0      4.0   0.195    0.035

    M04-09       10.0  16.0      6.0   0.070    0.019

The above noted drilling results are drill core intervals. True widths were not reported. A preliminary prospecting program is in progress to evaluate this cobalt-copper occurrence and prepare for potential trenching and drilling program.

QA-QC Procedures: The technical information referenced in this news release derive from two assessment reports written by a qualified person in 2004. The reports document the sawing of core and sampling procedures and include copies of the assay certificates for the drilling program. The assays were done using the ICP70 method by SGS Canada Inc. of Toronto, Ontario.

Other BMC Properties: The Company owns 12 projects covering 22,000 hectares of mineral land acquired for volcanogenic massive sulphide potential in the BMC. These include the Lower 44, Connector, North Rim, Satellite and LBM projects along with others selected for acquisition based on a database that covers the entire BMC district. The database includes airborne and ground geotechnical surveys as well as previous drilling results compiled from previous exploration workers and government sources. The Company continues with exploration activities to identify drilling targets associated with historic occurrences and intends to focus on the zinc, lead, copper, silver and cobalt potential of this mineral producing region.

Joint Venture/Earn-In Opportunity: SLAM has a portfolio of zinc-lead-silver properties available for joint venture or earn-in agreements in the Bathurst Mining Camp of New Brunswick. These include the properties described above as well as Costigan and other properties with mineral potential demonstrated by previous drilling results. For additional information, call Mike Taylor 506-623-8960.

About SLAM Exploration Ltd: SLAM is a project-generating resource company holding an NSR royalty on the Superjack, Nash Creek and Coulee zinc?lead?copper?silver properties in the Bathurst Mining Camp ("BMC") of New Brunswick where it also owns a portfolio of base metal, cobalt and gold properties. The Company intends to utilize its extensive BMC mineral database to explore and develop properties in this historic mining region. Other projects include the Menneval gold project and the Reserve Creek and Miminiska gold projects in Ontario. 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., as the Qualified Person, approves the scientific and technical disclosure in the news release.

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.

View original content: http://www.newswire.ca/en/releases/archive/October2017/11/c5466.html

SOURCE: SLAM Exploration Ltd.

Mike Taylor, President & CEO, Contact: 506-623-8960 mike@slamexploration.com; Eugene
Beukman, CFO, Contact: 604-687-2038 ebeukman@pendergroup.ca

Copyright (C) 2017 CNW Group. All rights reserved.

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.

Lt Crude 51.56
Nat Gas 2.869
Corn 345 6/8
Cotton #2 67.04
Gold 1280.7
Copper 3.1595
Euro 1.18030
USD Index 93.655
SP500 E-mini 2568.25
DJIA E-mini 23227
close_icon
open_icon