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SLAM Launches Gold Campaign
SLAM Launches Gold Campaign
Trenching Up-Ice from 39.3 Gram/Tonne Gold Float
MIRAMICHI, NB / ACCESS Newswire / April 29, 2025 / SLAM Exploration Ltd. (TSXV-SXL) ("SLAM" or the "Company") is pleased to announce the launch of its 2025 gold campaign on its Jake Lee-Love Lake gold projects. Trenching is in progress on the initial target where Slam previously discovered quartz float grading up to 39.3 ("g/t") gold (Reference 1 below). Other priority targets include a quartz float discovery grading up to 302.5 g/t gold reported by previous workers (Reference 2) on the newly acquired Love Lake project.
The Company has identified 34 priority gold targets based on exploration results reported by previous workers as well as by Slam and shown on Figures 1 and 2 below.
Figure 1 Jake Lee-Love Lake East - Geology - Gold Soil Grids - Gold Float - Gold Silts
on Figures 1 and 2, the labels gold ppm and Au ppm are equivalent and equal to gold g/t. Highlights include:
Visible gold in quartz boulders grading up to 302.5 g/t gold (Reference 2 below);
One soil sample grading 10,000 parts per billion ("ppb") gold previously reported by Magna Terra Minerals Inc. (Reference 3) and shown below on Figure 1;
Fifty-four (54) soil samples grading from 20 ppb to 256 ppb gold (Reference 3);
Two hundred and twenty (220) soil samples grading from 10 ppb to 19 ppb gold (Reference 3);
Slam has detected similar gold bearing soil samples up to 980 ppb gold (Reference 4) on its wholly owned Jake Lee claims as shown on Figures 1 and 2;
Slam has discovered gold boulders grading up to 39.3 g/t gold (Reference 1) on its wholly owned Jake Lee claims as shown on Figure 2;
These gold occurrences trace out a gold system in soils, boulders and outcrop that trends easterly for 13,000 meters from the Edge 16 gold occurrence on Figure 1 to the CT vein on Figure 2.
The geological setting is similar to the nearby Clarence Stream Deposit where Galway Metals Inc. currently has NI43-101 compliant Indicated Mineral Resources of 922,000 ounces of gold and Inferred Mineral Resources of 1,334,000 ounces of gold. It should be noted that the presence of gold in this nearby deposit may not apply to the Love Lake or the Jake Lee claims.
Figure 2 Jake Lee-Love Lake West - Geology - Gold Soil Grids - Gold Float - Gold Silts
Disclaimer: Grab samples and float samples are selected samples and may not represent true underlying mineralization.
References:
Reference 1: Taylor, M., Jan. 25, 2023 News Release; SLAM Discovers More Gold, Slam Exploration Ltd., reported on GlobeNewswire
Reference 2: Woods, G., 1993. Report of Work New River Claim Group. Assessment File 474310. Prepared for Brunswick Mining and Smelting Corporation Limited. NBDNRE Assessment Reports.
Reference 3: Lawrick, L., December 22, 2022. News Release; Magna Terra Announces Hawkins Love Option Agreement Amendment and Provides Project Update, Magna Terra Minerals Inc., reported on Accesswire.
Reference 4: Taylor, M., March 27, 2025 News Release; Slam Acquires Gold Claim With Float Up To 302.5 G/T Gold, Slam Exploration Ltd., reported on Access Newswire.
QA-QC Procedures: Figures 1 and 2 are compiled from Slam technical files and show soil geochemical results and prospecting results by Slam as well as previous workers. The previous data is derived from news releases available on SEDAR as well as Report of Work files on the New Brunswick NBDNRE website. The Slam exploration data has been reported in previous news releases and available on SEDAR as well as www.slamexploration.com.
About SLAM Exploration Ltd: SLAM Exploration Ltd. is a public resource company with a large portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. The Company has reported significant copper, nickel and cobalt intercepts from 15 diamond drill holes completed on the Goodwin copper nickel project in the Bathurst Mining Camp ("BMC") of New Brunswick.
The 2025 exploration campaign is in progress on Slam's contiguous Jake Lee and Love Lake projects. Slam has previously reported quartz float grading up to 39.2 g/t gold on its wholly-owned Jake Lee gold claims. The Company holds an option to earn 80% interest in the Love Lake project where previous workers have reported gold boulder discoveries up to 302.5 g/t gold (Reference 4).
Slam drilled 2 holes and cut multiple gold-bearing veins were on its wholly owned Menneval gold project in 2024. The Company previously reported gold bearing core intervals including 162.5 g/t gold over 0.2 m and 56.90 g/t gold over 0.5 m in news releases on December 13, 2021 and November 22, 2022.
The Company is a project generator and expects to receive significant cash and share payments in 2025. Slam received $9,000 cash and 1,200,000 shares from Nine Mile Metals Inc. (NINE) on February 28th, 2025 pursuant to the Wedge project agreement and $25,000. ON March 29, 2025, the Company received a cash payment of $60,000 as well as 180,000 shares of a private company pursuant to the Ramsay gold agreement. The Company holds NSR royalties and expects additional cash and share payments on the Wedge copper zinc project and on the Ramsay gold project.
To view SLAM's corporate presentation, click SXL-Presentation. Additional information is available on SLAM's website and on SEDAR+ at www.sedarplus.ca. Follow us on X @SLAMGold.
Qualifying Statements: Mike Taylor P. Geo, President and CEO of SLAM Exploration Ltd., is a qualified person as defined by National Instrument 43-101, and has approved the contents of this news release.
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. 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:
Mike Taylor, President & CEO
Contact: 506-623-8960 [email protected]
Eugene Beukman, CFO
Contact: 604-687-2038 [email protected]
SOURCE: SLAM Exploration Ltd.
View the original press release on ACCESS Newswire
O.Gauthier--SMC
