Jun. 23, 2011 (Baystreet.ca) --
SLAM
Exploration Ltd. (TSX-V: SXL) is a development-stage mineral exploration company
focused on both base and precious metals.
Slam Exploration has been an active driller on its
three key properties: Nash Creek (zinc-lead-silver) and the adjacent Silverjack
(zinc-lead-silver-copper) both in New Brunswick, and Reserve Creek (gold) in
Ontario. These drilling efforts have provided further evidence of widespread
mineralization.
The drilling at Nash Creek/Silverjack revealed the
presence of a large body of mineralization that could prompt an upward revision
to the Company's current NI 43-101 estimate of 9 million tonnes. Any expansion
of this resource could trigger interest from Xstrata, which operates the BMS
#12 mine nearby. Xstrata is in need of smelter supply, as BMS #12 is projected
to shut down this year due to ore depletion.
Grade values at Reserve Creek are comparable to
operating mines in the region and should generate an NI 43-101 reserve
estimate.
All this
positive news and the stock is back to July 2010 levels. Go figure!
To read
the complete Update Report, click here: http://www.eresearch.ca/_report/SXL_062311-U.pdf
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