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SLAM Strikes more Gold Intervals

by NationTalk on June 23, 2008854 Views


Miramichi, New Brunswick – SLAM Exploration Ltd. (TSX-V: SXL) (“SLAM”) announces gold intercepts for the first 3 of 6 holes drilled at its wholly owned Reserve Creek property located east of the former gold mining town of Pickle Lake, Ontario. Gold bearing intercepts are reported from all 3 holes, the most significant being a 4.80 metres interval averaging 6.116 g/t (0.178 oz/t) including 24.765 g/t (0.722 oz/t) gold over 0.50 metres. Assays are pending on the additional 3 holes all of which intersected sulphide and/or quartz-bearing units with visible gold reported from one hole.The drilling program at Reserve Creek comprised of 6 holes for a total of 1014 metres. These holes tested the historic Williamson zone over a strike length of 300 metres and depths ranging from 90 to 140 metres. The gold bearing zone is associated with sulphide and quartz stringers hosted by a magnetite rich tuff unit up to 20 metres thick. The zone is open at depth below these holes. Selected intervals and grades for the first 3 holes are tabulated as follows:

Based upon these positive results, SLAM staked 9 additional claims covering 2128 hectares expanding the property to a total of 22 claims encompassing 4624 hectares of highly prospective volcano-sedimentary rocks. Reserve Creek is part of a valuable land package with a significant and expanding inventory of gold deposits centered around Eabamet Lake (Fort Hope).The properties all lie within the Traditional Territories of the Eabametoong First Nation (“EFN”). SLAM has conducted this drilling program in compliance with a Memorandum of Understanding (“MOU”) signed by SLAM and EFN on 31 August 2007.

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