SLAM Reports Copper Nickel Assays At Goodwin
Goodwin Hole GW24-12 Cuts 1.80% Copper Equivalent Over 12.55 Meters
thenewswire.com
February 5, 2025 – TheNewswire – Miramichi, New Brunswick - SLAM Exploration Ltd. (“SLAM” or the “Company”) (TSXV-SXL) is pleased to announce assay results for 7 additional holes drilled on its wholly owned Goodwin claims located 35 kilometers southwest of the Caribou Mine in the Bathurst Mining Camp of New Brunswick. Results include 1.80% copper equivalent over 12.55 meters in hole GW24-12 and 1.52% copper equivalent over 12.14 meters in hole GW-14. Selected results are tabled below:
Zone
| Hole ID
| From
| To (m)
| Length
| Copper%
| Nickel%
| Cobalt%
| Cu_Eq%
| Logan
| GW2408
| 20.00
| 20.40
| 0.40
| 0.48
| 0.29
| 0.04
| 1.03
| Logan
| GW2408
| 40.00
| 40.45
| 0.45
| 0.44
| 0.35
| 0.06
| 1.15
| Logan
| GW2408
| 69.00
| 123.50
| 54.50
| 0.16
| 0.14
| 0.03
| 0.45
| Logan
| GW2408
| 83.00
| 85.30
| 2.30
| 0.26
| 0.27
| 0.06
| 0.83
| Logan
| GW2408
| 89.00
| 92.00
| 3.00
| 0.20
| 0.30
| 0.06
| 0.83
| Logan
| GW2408
| 83.00
| 93.00
| 10.00
| 0.17
| 0.24
| 0.05
| 0.68
| Logan
| GW2408
| 114.00
| 116.37
| 2.37
| 0.41
| 0.25
| 0.04
| 0.92
| Logan
| GW2409
| 102.50
| 149.00
| 46.50
| 0.16
| 0.12
| 0.02
| 0.41
| Logan
| GW2409
| 143.85
| 147.84
| 3.99
| 0.44
| 0.34
| 0.03
| 1.06
| Logan
| GW2409
| 138.00
| 149.00
| 11.00
| 0.28
| 0.22
| 0.04
| 0.74
| Granges
| GW2410
| 32.22
| 33.16
| 0.94
| 0.89
| 1.48
| 0.10
| 3.53
| Granges
| GW2410
| 38.92
| 44.00
| 5.08
| 0.34
| 0.33
| 0.03
| 0.94
| Granges
| GW2410
| 38.92
| 41.10
| 2.18
| 0.52
| 0.54
| 0.04
| 1.50
| Granges
| GW2411
| 102.50
| 111.50
| 9.00
| 0.12
| 0.00
| 0.00
| 0.12
| Granges
| GW2412
| 55.65
| 68.20
| 12.55
| 0.45
| 0.76
| 0.05
| 1.80
| Logan
| GW2413
| 92.00
| 105.00
| 13.00
| 0.14
| 0.14
| 0.03
| 0.44
| Logan
| GW2413
| 101.00
| 102.00
| 1.00
| 0.30
| 0.17
| 0.03
| 0.65
| Logan
| GW2414
| 159.50
| 170.50
| 11.00
| 0.22
| 0.30
| 0.06
| 0.83
| Logan
| GW2414
| 159.50
| 209.00
| 49.50
| 0.27
| 0.21
| 0.04
| 0.69
| Logan
| GW2414
| 196.86
| 209.00
| 12.14
| 0.66
| 0.43
| 0.07
| 1.52
| Logan
| GW2414
| 202.37
| 206.40
| 4.03
| 1.04
| 0.62
| 0.10
| 2.27
|
The Logan Zone: The 4 Logan zone holes in the table all intersected copper nickel mineralization including 1.52% copper equivalent over 12.14 meters at a depth of 197 meters in hole GW-14. Shallower and lower grade intercepts in holes GW24-09 and GW24-13 show the grade of the Logan zone increasing downward. To our knowledge, the mineral zone in GW24-14 is deeper than any previous core interval drilled at Goodwin. Assays are pending on GW24-15 which hit a similar zone at the same depth in a 50 meter easterly step-out.
The Farquharson Zone: All 5 holes on the Farquharson zone intersected copper nickel mineralization over core intervals ranging from 46 meters to 75 meters and grades ranging from 0.75% to 1.26% copper equivalent as previously reported. These holes define the Farquharson zone over a strike length of 140 meters and to a downhole depth of 130 meters. The Farquharson zone is located 1,000 meters southeast of the Logan zone as shown on the map below;
Figure 1 Goodwin Copper Nickel Zones – Aeromagnetics 
Click Image To View Full Size
Holes GW24-03 and GW24-04 were drilled on the same section in the middle of the Farquharson zone. The best results were obtained from the deepest hole, GW24-03 with 1.10% copper equivalent over 60.60 meters. The Farquharson cross section below shows the mineral zones in both holes. The potential depth extension of the Farquharson zone beneath hole GW24-03 will be a priority target for the 2025 drilling campaign.
Figure 2 Farquharson Cross Section Holes GW24-03 & GW24-04 
The Granges Copper Nickel Zone: The 5 holes drilled to date have included a 64.90 meter core interval grading 2.19% copper equivalent in hole GW24-02 (reported August 7, 2024) and 1.80% copper equivalent over 12.55 meters in hole GW24-12 from the table above. These results suggest considerable potential along strike and at depth.
The Goodwin claims now cover a trend of aeromagnetic anomalies associated with gabbro intrusions that extend from the Bruce copper nickel occurrence westward for 25,000. The new acquisition expands the Goodwin project to cover 11,450 hectares of prospective ground
QA-QC Procedures: Core was collected from the drill in trays and delivered to a secure logging facility in Bathurst, New Brunswick. After logging, samples were sawn using a diamond blade. Sawn half-core samples were numbered, collected in bags, tagged and delivered to Activation Laboratories Ltd. (Actlabs) in Fredericton for multi-element analysis using their methods assay method AR-ICP. Samples that were over-limit (above 1%) for the ICP method were re-analyzed using method 8-AR.
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 14 diamond drill holes completed on the Goodwin copper nickel project in the Bathurst Mining Camp (“BMC”) of New Brunswick. Highlights include a 64.90 meter core interval grading 2.14% copper equivalent in Logan zone hole GW24-02, a 60.60 interval grading 1.17% copper equivalent in Farquharson zone hole GW24-03 and 1.80% copper equivalent over 12.55 meters in Logan zone hole GW24-12. Based on these significant drilling results, the Company expanded the Goodwin Project to 11,450 hectares to cover a 25 kilometer stretch of aeromagnetic anomalies associated with gabbro bodies and potential copper nickel occurrences. Assays are pending on hole GW24-15 drilled on the Logan zone.
Gold assays are pending on 117 core samples sawn from 2 holes drilled by Slam on its wholly owned Menneval gold project and submitted for fire assay to Actlabs. SLAM has previously discovered multiple gold veins on its wholly owned Menneval gold project. The Company 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.
In 2023, the Company reported quartz float grading up to 39.2 g/t gold on its Jake Lee project in the vicinity of the Clarence Stream gold deposit where Galway Metals Inc. is working on a 2.3 M ounce gold deposit in southern New Brunswick.
SLAM also owns the Mine Road copper zinc silver project adjacent to the former producing Heath Steele Mines property in the BMC. Successful diamond drill holes at Mine Road by previous workers include IL2014-003 with a 9-meter core interval grading 14.51% zinc, 5.86% lead, 0.67% copper and 139.9 g/t silver on the volcanogenic massive sulphide Railroad zone at Mine Road. (Doe Run Canadian Exploration ULC; 2015, New Brunswick Assessment Files, Report of Work 477877), The Railroad zone is 7,000 m east of the 20 million tonne former producing Heath Steele B Zone.
The Company is a project generator and received significant cash and share payments over the last 12 months as follows; 534,000 shares and 333,000 warrants (exercisable at $0.01) issued by Nine Mile Metals Inc. (NINE) on March 01, 2024 pursuant to the Wedge project agreement and $25,000 cash plus 2,500,000 shares of Lode Gold Resources Inc. (LOD) 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 mike@slamexploration.com
Eugene Beukman, CFO
Contact: 604-687-2038 ebeukman@pendergroup.ca SEDAR+: 00012459 |
