- Published: 25 March 2011
- Written by Editor
Slam summarizes silver- copper- zinc-lead results from silverjack
Significant mineralization detected over large area; Additional work expected in 2011
SLAM Exploration Ltd. (TSXV: SXL) (US-OTC: SLMXF) ("SLAM") is pleased to provide summary information on the recently completed diamond drilling program at its Silverjack property in New Brunswick.
Overall Results: Very positive results were obtained from the 22 hole program. The most significant interval occurs in hole SJ10-26 with a 9.60m interval grading 230.90 g/t silver, 1.53% copper, 2.89% zinc and 2.53% lead. Lead-zinc as well as copper-silver-cobalt bearing intercepts suggest potential extensions up to 1600m south of Silverjack.
The Doyle copper-silver occurrence broadens the target area 1,000m to the west. These occurrences are part of a huge polymetallic system of mineralization hosted within folded sediments and limestones of Silurian age.
Silverjack Zone: The first 14 holes (SJ10-21 to 34) were designed to test the strike extension of the Silverjack zone outlined in the 2009 drill program. Individual assays range up to 605 g/t silver, 2.42% copper, 3.41% zinc and 2.99% lead over 1.40m. SLAM had previously reported high grade drilling results ranging up to 653 g/t (19.05 oz/ton) silver, 2.69% copper, 11.9% zinc and 9.8% lead (news release 16 February, 2010) at Silverjack. The near-surface zone has been extended to a strike-length of 200m.
Southward Extensions: Holes SJ10-35 to SJ10-40 were drilled to test for potential extensions up to 1600m south of the Silverjack zone. These holes intersected limestones and sediments with local zones of lead-zinc mineralization including individual samples ranging up to 12.36% lead-zinc over 0.3m. Holes SJ10-35, SJ11-39 and SJ11-40 tested a new copper occurrence discovered in the 2010 prospecting program. Hole SJ10-35 intersected 5.23% copper, 42 g/t silver and 1330 g/t cobalt over 0.3m.
Doyle Zone: The final 2 holes were SJ11-41 and 42 drilled near the Doyle copper-silver occurrence 1,000m west of the Silverjack zone. SJ11-41 intersected 4 zones containing copper-silver mineralization ranging up to 2.33% copper and 43 g/t silver over a core interval of 1.33m. These and other significant drilling results were previously released and are summarized as follows:
DDH From m To m Length Silver Copper Zinc % Lead %
m g/t %
SJ10-21 40.95 45.45 4.50 107.66 0.80 0.60 0.52
SJ10-21 42.00 43.00 1.00 245.00 0.59 0.70 0.67
SJ10-22 37.50 39.10 1.60 32.19 0.07 1.52 1.20
SJ10-23 46.30 46.72 0.42 5.00 0.00 1.78 1.48
SJ10-24 54.09 61.00 6.91 111.37 1.09 3.15 2.70
SJ10-25 45.65 46.17 0.52 40.00 0.17 1.09 1.06
SJ10-26 45.50 55.10 9.60 230.90 1.53 2.89 2.53
SJ10-26 48.50 49.90 1.40 605.00 2.42 3.41 2.99
SJ10-27 71.20 72.98 1.78 67.79 0.87 4.74 3.82
SJ10-28 77.50 79.53 1.23 13.72 0.05 2.78 2.26
SJ10-30 90.50 93.40 2.90 4.46 0.03 0.80 0.74
SJ10-31 4.00 4.45 0.45 4.77 0.21 0.01 0.00
SJ10-32 23.35 24.05 0.70 28.57 0.13 3.34 4.05
SJ10-33 51.00 51.60 0.60 16.00 0.08 2.78 2.15
SJ10-35 9.70 10.00 0.30 42.00 5.23 0.01 0.01
SJ10-38 18.18 20.00 2.37 7.22 0.02 1.38 1.35
SJ10-38 46.8 47.1 0.3 12 0.001 6.65 5.71
SJ11-39 15.15 15.45 0.30 1.00 0.14 0.03 0.02
SJ11-40 20.60 21.30 0.7 6.00 0.651 0.004 0.079
SJ11-40 40.85 41.50 0.65 15.00 0.367 0.001 0.003
SJ11-41 6.6 7.15 0.55 54.00 1.32 0.007 0.03
SJ11-41 54.7 55.8 1.1 9.00 0.36 0.003 0.011
SJ11-41 64.47 65.06 0.59 13.00 1.00 0.072 0.126
SJ11-41 108.1 109.45 1.35 43.00 2.33 0.005 0.024
All assay results described herein are from drilled core intervals and do not represent true widths. Five holes SJ10-29, 34, 36, 37 and SJ11-42 did not intersect economically significant mineralization.
Future Plans: The Company is encouraged by these results and expects to complete additional exploration in 2011. Further trenching will test for southward extensions to the Silverjack copper-silver-lead-zinc zone. Further drilling will test the strike extent of the Doyle copper-silver zone which is associated with a 2,000m aeromagnetic trend. Preliminary prospecting and geological mapping will be conducted over 97 new claim units covering 2425 hectares of highly prospective folded limestone sequences staked during the fall program.
The Silverjack program in 2011 will be planned in conjunction with high priority programs at the Reserve Creek gold project and the Nash Creek lead-zinc-silver project. Assays are pending from Reserve Creek where the winter drilling program has been completed after drilling 31 holes RS10-17 to RS11-47. Assays are also pending from a single deep hole drilled at the Nash Creek lead-zinc-silver project. With over $4M in the treasury, the Company is planning significant programs for the remainder of 2011.
Qualifying Statements: Derek F. Brown, P.Geo., Consultant, is the Qualified Person responsible for the technical information contained herein. The Silverjack program comprised 22 hole for a total of 2884m begun in the fall of 2010. Drill cores were delivered from the drill to a secure site for logging and sampling. A total of 522 core samples were split or sawn and sent to Actlabs in Fredericton for preparation and subsequent analysis at Actlabs in Ancaster, Ontario. Activation Labs analyzed the samples using code 8AR for silver, copper, zinc, lead and/or code Ultratrace 2 for multi-elements on selected samples. The Company used blank and standard samples for quality assurance and control.
About Silverjack: The Silverjack property comprises 160 wholly owned mineral claims plus 13 claims under option for a total of 3715 hectares. The property is 4 kilometres from the Belledune smelter and seaport and is adjacent to SLAM's Nash Creek property comprised of 411 mineral claims covering 6,576 hectares. The Company was awarded a provincial grant of $35,000 under the New Brunswick Junior Mining Assistance Program to support the 2010 drilling program. Additional information about Silverjack can be viewed at: www.slamresources.com/projects/new-brunswick/silverjack.
About SLAM Exploration Ltd: SLAM is a mineral resource company based in Miramichi, New Brunswick and is actively exploring for gold in Ontario and 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.
SOURCE: SLAM EXPLORATION LTD.
