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SLAM Awards Diamond Drilling Contract For Maisie Gold
MIRAMICHI, New Brunswick, July 16, 2020 (GLOBE NEWSWIRE) -- SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL) is pleased to announce it has awarded a
About this update from Slam Exploration Ltd.
[{"type":"text","content":" MIRAMICHI, New Brunswick, July 16, 2020 (GLOBE NEWSWIRE) -- SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL) is pleased to announce it has awarded a diamond drilling contract for a minimum of 600 metres on the Menneval Gold Project. The Company proposes to drill 6 to 10 diamond drill holes designed to test the road-accessible Maisie gold vein to a depth of 150 m. Previous trenching and drilling programs traced the Maisie gold‐bearing quartz vein over a strike‐length of 700 metres and to a depth of 30 metres. The Company will receive a $30,000 contribution to the Menneval gold project under the New Brunswick Junior Mining Assistance Program. The Menneval Project: The recently expanded Menneval Gold project is comprised of 211 claim units covering 4,496 ha located in northwestern New Brunswick. The Company holds a 100% interest in the Menneval claims. Four (4) claim units covering 105 hectares are subject to a 1.5% NSR. The Company can buy down 0.5% of the NSR for $500,000 and it has the right of first refusal on the remaining 1% NSR. About SLAM Exploration Ltd: SLAM is a project-generating resource company with a portfolio of precious metal and base metal properties in New Brunswick and Ontario. The Company owns the Menneval gold project and the recently acquired Lewis Brook silver project in northern New Brunswick, as well as 5 gold projects located in the vicinity of Clarence Stream where Galway Gold Inc. has reported successful gold drilling results in southern New Brunswick. SLAM also owns the Reserve Creek, Opikeigen and Miminiska gold projects in Ontario. The Company owns a portfolio of base metal properties in the Bathurst Mining Camp (“BMC”) that is subject to an option agreement. SLAM also holds NSR royalties on the Superjack, Nash Creek and Coulee zinc‐lead‐copper‐silver properties in the BMC. 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 this news release. Certain information in this press release may constitute forward-looking information, including statements that address the Private Placement, the closing of t...