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SLAM Acquires Portage VMS Mineral Occurrence
SLAM Acquires Portage VMS Mineral Occurrence Canada NewsWire MIRAMICHI, NB, Nov....
About this update from Slam Exploration Ltd.
[{"type":"text","content":"\n\n\n\nSLAM Acquires Portage VMS Mineral Occurrence\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMIRAMICHI, NB, Nov. 6, 2017\n\n\n\nKey Acquisition Expanding SLAM's Footprint In The Bathurst Mining Camp\n\n\n\nMIRAMICHI, NB, Nov. 6, 2017 /CNW/ - SLAM Exploration Ltd. (TSXV: SXL) (\"SLAM\" or the \"Company\") is pleased to announce it has signed an agreement to acquire the Portage zinc-lead-copper-silver property (the \"New Property\") from a private company. The new 3-claim property comprises 38 claim units covering 827 hectares contiguous to the Portage mineral claims already owned by SLAM. The combined properties cover 3004 hectares accessible by logging roads and located 2 km west and south of the Restigouche VMS deposit owned by Trevali Mining Corp. in the Bathurst Mining Camp (\"BMC\") of New Brunswick, Canada.\n\nThe newly acquired property is host to the Portage volcanogenic massive sulphide occurrence discovered by previous workers in 1976. Approximately 15 diamond drill holes have been drilled on or near this historic mineral occurrence. Significant early results include hole CP77-57 with a core interval of 3.35m grading 5.81% zinc 2.97% lead 0.61% copper within a 25.30m core interval grading 3.27% zinc 0.52% lead and 0.30% copper. Mineralization was detected by drilling over a strike length of 450 m and to a depth of 250m and is open at depth with potential for extensions along strike. The setting and style of mineralization is similar to the Restigouche deposit located 4km to the northeast. On July 27, 2017, Trevali Mining Corporation reported remaining indicated reserves of 861,882 tonnes grading 7.07% zinc, 5.25% lead 0.33% copper and 78.16 g/t silver based on historic data for the Restigouche deposit. According to Trevali, these reserves remain after past production of 755,978 tonnes by previous operators at Restigouche.\n\nThe signed option agreement gives SLAM the right to earn 100% interest in the Portage Lakes property by paying 1,000,000 shares and C$115,000 cash in stages over a 3 year period.&...