located on the territory of Eeyou Istchee in the proven
Project Highlights:
Probable Reserves: 26.3 M tonnes 0.87% Li2O and 138 ppm Ta2O5
Indicated Resources: 30.561 M tonnes 0.93% Li2O and 118 ppm Ta2O5
Inferred Resources: 2.384 M tonnes 0.78 % Li2O and 129 ppm Ta2O5
Reference:
Lithium Potential of the Area: The Peninsula lithium project located northeast of the Rose lithium tantalum project as shown on Image 1 and is underlain by volcano-sedimentary and intrusive rock formations similar to those occurring on the Rose project. These formations could host pegmatites similar to the northeast-trending lithium pegmatite bodies that outcrop on the Rose project. Several potential areas of outcrop that are prospective for pegmatites can be identified from Google Earth and satellite views.
CRE recently announced several new lithium discoveries and identified 4 new spodumene-bearing pegmatite outcrops in their 'New Discovery Area' on the Rose project. According to CRE, 'the apparent strike length along the outcrops exceeds 400 metres to date, the results from the initial 10 selected samples have been received. All samples are lithium-bearing and 50% of them report values over 3% Li2O with some results as high as... 5.62% Li2O...The reader is cautioned that grab samples are selective by nature and may not represent average grades'.
Infrastructure: The Project is 50 km north-west of
SLAM President
Upon SLAM earning 100%, WhiteRock will retain a 1.5% Net Smelter Return (NSR) production royalty. SLAM retains the right to buy back one-third of the royalty equal to 0.5% NSR for a one-time payment of CAD
The Option Agreement and proposed Share issuances remain subject to approval by the Exchange. All Shares will be subject to a statutory hold period of four months and half the Shares will be subject to a hold period of eight months from issuance. SLAM will pay a finder's fee of 700,000 Shares and 0.5% NSR (the 'Finder's NSR') to a qualified arm's length party. The Finder's NSR will be granted only upon completion of the 100% earn-in by SLAM. SLAM retains the right to purchase this Finder's NSR for
About
SLAM is a resource company with a large portfolio of mineral claim holdings in 3 divisions; Critical &
SLAM has built its gold portfolio through exploration for gold along regional fault structures has resulted in significant gold discoveries including the Maisie gold vein system at SLAM's wholly owned Menneval project and a number of recent gold discoveries in southern
The Company recently added the
To view SLAM's corporate presentation, click SXL-Presentation. Additional information is available on SLAMs website SLAM and SEDAR+ filings at www.sedarplus.ca. Follow us on twitter @SLAMGold.
QA-QC Procedures: The prospecting results described above are from recent news releases reported by other companies.
Qualifying Statements:
Certain information in this press release may constitute forward-looking information, including statements regarding mineral resources and the Company's plans with respect to the exploration and development of its properties. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedarplus.ca.
Contact:
Tel: 506-623-8960
Email: mike@slamexploration.com
CFO
Tel: 604-687-2038
Email: ebeukman@pendergroup.ca
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