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SLAM Exploration Acquisition Expands Zinc Copper Silver Footprint in BMC
MIRAMICHI, New Brunswick, Sept. 06, 2023 (GLOBE NEWSWIRE) -- SLAM Exploration Ltd. (TSXV-SXL) (“SLAM” or the “Company”) is pleased to announce it has entered in
About this update from Slam Exploration Ltd.
[{"type":"text","content":" MIRAMICHI, New Brunswick, Sept. 06, 2023 (GLOBE NEWSWIRE) -- SLAM Exploration Ltd. (TSXV-SXL) (“SLAM” or the “Company”) is pleased to announce it has entered into an arm’s length option agreement dated September 01, 2023, to acquire a 100% interest in and to the Mine Road project, which is located adjacent to the former producing Heath Steele mine in the Bathurst Mining Camp (“BMC”) of northern New Brunswick. Project Highlights: Railroad Zone: 14.51% zinc, 5.86% lead, 0.67% copper and 139.9 g/t silver over a 9.0 metre interval in diamond drill hole IL2014-003. Roche Trend: Diamond drill hole IL2018-01 intersected 7.0 meters of 0.9% copper on the Roche Trend, 5 kilometres southwest of the Railroad Zone. Infrastructure: Paved road and high voltage powerline transect the property. Drill-ready project: Untested conductors, magnetic and soil anomalies as well as priority targets on the Railroad and Roche Zones. Previously drilled holes include IL2014-003 that cored 14.51% zinc, 5.86% lead, 0.67% copper and 139.9 g/t silver over a 9.0 metre interval (7.8 metre true width). This hole also intersected 6.57% zinc, 2.78% lead, 0.46% copper, and 68.1 g/t silver over a 3 m core interval (2.6 metre true width). This was one of 5 holes drilled on the Railroad Zone in 2014. On the Roche Trend, 5 kilometres southwest of the Railroad Zone, diamond drill hole IL2018-01 intersected 7.0 meters of 0.9% copper. This is the deepest intercept on the Roche Trend and according to accepted models for VMS deposits, the increasing copper content may signify that the core of the deposit lies below this hole. SLAM President Mike Taylor states, “This is a drill ready project with a massive previous work database that is available to design drilling programs to test for potential extensions and new discoveries. The BMC was a prolific producer of zinc, lead, copper and silver and is long overdue for such a discovery.” Mine Road Project: The 7,500 hectare Mine Road project comprises 347 units in 2 mineral claims adjacent to the former producing Heath Steele mine property. From 1957 and 1996, the operator mined 21 million tonnes at Heath Steele with an average grade of 4.98% zinc, 0.36% lead, 0.54% copper and 69.66 g/t silver. A total of 2,330 million pounds of zinc, 833 million pounds of lead, 446 million pounds of copper and 45 million ounces of silver were pro...