Apr. 15, 2011 (Canada NewsWire Group) --
Diamond Drill Intercepts up to 18.33 g/t Gold over 0.5m
MIRAMICHI, NB, April 15 /CNW/ - SLAM Exploration Ltd. (TSXV: SXL)
(US-OTC: SLMXF) ("SLAM") announces results to date for all 2011 holes
drilled at its wholly owned Reserve Creek gold project in the Fort Hope
area of Ontario. Significant intercepts range up to 18.33 g/t gold over
0.5 m. Selected gold results are summarized in the following table.
| Hole ID | From | To | Length | Gold g/t | |
| RS1126 | 152.2 | 171.0 | 18.9 | 6.20 | |
| RS1127 | 123.3 | 133.0 | 9.8 | 2.63 | |
| Includes | RS1127 | 125.0 | 128.8 | 3.8 | 4.44 |
| RS11-30 | 81.0 | 82.0 | 1.0 | 4.11 | |
| RS1133 | 131.0 | 132.2 | 1.2 | 5.59 | |
| RS1135 | 142.5 | 146.5 | 4.0 | 2.72 | |
| RS1136 | 171.0 | 172.5 | 1.5 | 1.53 | |
| RS1137 | 122.0 | 128.0 | 6.0 | 2.90 | |
| RS1139 | 264.2 | 264.9 | 0.7 | 1.32 | |
| RS1140B | 122.5 | 123.0 | 0.5 | 6.65 | |
| RS1141 | 77.5 | 79.0 | 1.5 | 2.18 | |
| RS1142 | 11.0 | 11.5 | 0.5 | 3.02 | |
| RS1143 | 109.0 | 112.0 | 3.0 | 2.48 | |
| RS1144 | 149.3 | 152.2 | 2.9 | 4.09 | |
| Includes | RS1144 | 149.8 | 150.3 | 0.5 | 16.84 |
| RS1145 | 180.5 | 183.0 | 2.5 | 6.47 | |
| Includes | RS1145 | 181.0 | 181.5 | 0.5 | 18.33 |
| RS1146 | 222.0 | 225.7 | 3.7 | 1.40 |
The core intervals described are drilled intervals. True thicknesses are unknown. Hole RS1126 was previously announced by press release. Assays are pending on the last hole RS1147.
SLAM is encouraged by the drilling results at Reserve Creek. Since June 2010, 34 holes were drilled starting with hole RS1014 and concluding with hole RS1147 in March 2011. This program tested the Reserve Creek deposit to a depth of 220 m and over a strike length of 350 m. All holes intersected gold-bearing zones except number RS1138 which did not reach target depth. Results range from anomalous gold at 0.5 g/ up to bonanza grades of 274 g/t over 0.5 m in hole RS1016 and suggest 2 steeply plunging high grade shoots within a wider envelope of mineralization. The bonanza intercept in hole 16 occurs within a 16.85 m interval grading 16.45 g/t gold (press release 09 August 2010). Pending final results, further work is planned to test for extensions of the high grade shoots at depth and along strike.
All drill cores were delivered from the drill sites to a facility in Fort Hope for logging and sampling. Selected cores were split or sawn with half retained for reference. Sampled halves were shipped to Accurassay in Thunder Bay for gold assay. Standards and blanks were inserted in the sample batches to augment the Quality Assurance and Quality Control program utilized by the laboratory. Michael R. Taylor, P.Geo. President and CEO of SLAM is the Qualified Person responsible for the technical information contained herein.
About Reserve Creek Gold Project:
SLAM's wholly owned Reserve Creek gold project now encompasses 7120
hectares in 34 mineral claims located near Fort Hope, Ontario. Reserve
Creek is part of a large and valuable land package with an expanding
inventory of gold deposits centered around Fort Hope approximately 150
km east of the former gold mining town of Pickle Lake. The large
greenstone belt surrounding Fort Hope has many similarities to the
prolific Red Lake gold mining camp and has potential to be a major gold
producing area. The Red Lake, Pickle Lake and Fort Hope gold areas are
part of the Uchi subprovince, a major system of greenstone belts
extending from Lake Winnipeg to the Hudson Bay lowlands.
The Reserve Creek drilling activities have been accomplished in consultation with Eabametoong First Nation ("EFN") in accordance with a mutual Exploration Agreement. This Agreement calls for EFN and SLAM to work cooperatively to advance the gold potential of Reserve Creek and other SLAM projects in the Fort Hope area of Ontario.
About SLAM Exploration Ltd:
SLAM is a mineral resource company based in Miramichi, New Brunswick and
is currently drilling for gold in Ontario and for
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.
SLAM Exploration Ltd.
Brian Jones, Investor Relations; Toll Free: 855.800.6109 Toronto: 647-729-1436
info@slamexploration.com