SLAM Exploration Increases its Portfolio of Zinc and Cobalt Properties in Bathurst Mining Camp, New Brunswick - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - December 1, 2017) - SLAM Exploration (TSXV: SXL) (OTC: SLMXF) has added to its extensive holdings in the Bathurst Mining Camp, with the staking of the Red Pine property. The Bathurst Mining Camp, which occupies a roughly circular area of approximate 70 kilometres diameter in northern New Brunswick, boasts some 46 mineral deposits with well defined tonnage and another 100 mineral occurrences.
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The Red Pine property is located on the east side of the camp where potential targets are hidden beneath a cover sequence of younger sedimentary rocks. Combined with recent acquisition of the Portage claims, this expands SLAM claim holdings to 29,000 hectares in the Bathurst Mining Camp of New Brunswick, Canada where an evolving zinc play is attracting companies and investment dollars.
Other companies with large land holdings include Osisko Metals and Wolfden Resources with 50,000 and 20,000 hectares respectively. Trevali Mining operates the Caribou mine and owns the advanced Restigouche, Half-mile and Stratmat deposits. Trevali reported that it anticipates initial production from Restigouche to supplement feed to the Caribou mill by the 3rd quarter of 2018.
SLAM has focused on property acquisition and preliminary prospecting in exploration for zinc-rich VMS deposits in the Bathurst Mining Camp. This Phase I program includes compilation of previous results combined with prospecting to evaluate and prioritize projects and drilling targets for the next phase of activity. The higher priority projects include Portage, Connector and Lower 44, all prospective for zinc-rich VMS deposits along with related minerals copper, lead and silver.
SLAM acquired the Ramsay cobalt project, considered a drill-ready, high priority target, based on previous drilling results and its location adjacent to SLAM's Portage property approximately 25 kilometres west of the Caribou mine. Results of nine holes drilled on the Ramsay property by previous workers in 2004 reported intervals include 0.8 metres grading 0.956% cobalt within a 4.8 metre core interval grading 0.352% cobalt.
Such higher grade zones typically occur within wider core intervals ranging to 24.8 metres grading 0.18% cobalt and 0.182% copper.
Following the recent acquisition of the Portage VMS Project, SLAM's prospecting team located key sites for historic diamond drill holes dating back to its discovery of the Portage zone by previous workers in 1976. These include hole CP77-57 which cut a core interval of 3.35 metres grading 5.81% zinc 2.97% lead 0.61% copper within a 25.3 metre core interval grading 3.27% zinc, 0.52% lead and 0.3% copper. The setting and style of mineralization is similar to Trevali's Restigouche deposit located 4 kilometres to the northeast.
SLAM's prospecting team is currently evaluating potential targets at the Connector VMS Project, directly along strike from the former producing Brunswick No. 12 and No. 6 mines owned by Glencore. The massive Brunswick No 12 deposit was discovered in 1953 and operated continuously from 1964 to 2013, producing 150 million tonnes of ore grading 8.46% zinc, 3.33% lead, 0.37% copper, and 99 grams per tonne silver.
According to a New Brunswick Government report, the value of total historic zinc production from the Bathurst Mining Camp was approximately $27.5 billion in 2005 dollars, with the majority of the production coming from the giant Brunswick No. 12 underground mine.
The company has a number of other properties, and holds an NSR royalty on the Superjack and Nash Creek zinc-lead-copper-silver deposits.
The shares are trading at $0.055 and with 32.4 million shares outstanding, the company is capitalized at $1.8 million.
For more information, please visit the company's website at www.slamexploration.com, contact Mike Taylor, President and CEO, at 506-623-8960 or email mike@slamexploration.com, or Eugene Beukman CFO, at 604-687-2038, or email ebeukman@pendergroup.ca.
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