The Company collected 281 soils samples at 25m intervals on 8 grid lines spaced 100 metres apart and on an additional line at 50 m spacing in the vicinity of recently discovered gold veins. Elevated levels of gold ranging from 5 to 683 parts per billion (“ppb”) occur in 92 of the samples. These include 79 samples containing gold in the range 5 to 20 ppb and 12 samples with gold in the range 21 to 57 ppb. One sample contains 683 ppb gold at an untested site about 25 m north of Zone 9.
Elevated gold levels in the soil indicate potential for extensions of the Maisie vein system to the west, south and east of the known gold veins in the vicinity of Zone 9. The soil anomalies are open in all 3 directions showing potential to extend further. The gold values are shown in thematic form on the attached map.
The Company received the positive soil results after it had dug trench M20-22 which uncovered vein No 22, a 550m long vein with one section mineralized with limonite, goethite and pyrite over a strike length of 180m and at least one site of visible gold reported. Since then, the Company has continued digging cross trenches and has uncovered a series of en echelon veins extending 800m northeast of vein No 22. This expands the Menneval vein system to an area with a north-south dimension of 1,200 m from the northern tip of the Maisie gold vein to the southern tip of vein No. 22 and an east-west dimension of 1,200 m. The vein system is open to the east of the new vein discoveries.
The Company continues the trenching program to discover veins using an excavator and to collect grab samples of vein material. The current focus is to discover as many veins as possible by a series of cross trenches and by grab sampling to identify the higher grade areas. The Company is currently trenching to test for potential new veins and extensions associated with gold soil anomalies south and west of Zone 9.
Assays are pending on 56 grab samples collected from trenches M20-18 to 22, some containing visible gold as reported
Following this trenching program, the Company expects a potential resumption of diamond drilling activities to test these new gold occurrences. The exploration program is supported in part by a
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About
SLAM is a project-generating resource company with a portfolio of precious metal and base metal properties in
QA-QC - Sampling Procedures
Soil samples were collected by
Qualifying Statements:
Certain information in this press release may constitute forward-looking information, including statements that address the Private Placement, the closing of the Private Placement, future production, reserve potential, exploration and development activities and events or developments that the Company expects. 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.sedar.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
Contact: 506-623-8960 mike@slamexploration.com
Contact: 604-687-2038 ebeukman@pendergroup.ca SEDAR: 00012459E
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dd24f3fb-0cb8-42fb-ba6b-5a1803cecf84
Source:
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