DEEP MINERALIZATION INTERSECTED AT NASH CREEK
Mar. 1, 2011 (Canada NewsWire Group) --
Significant New Mineralization In Deep Hole Suggests Potential at Depth
TSX-V: SXL US-OTC: SLMF
MIRAMICHI, NB, March 1 /CNW/ - SLAM Exploration Ltd. (TSX-V: SXL) ("SLAM") reports hole NC11-220 intersected 320m of mineralized core containing up to 20% sulphide mineralization. The 583m drill hole was angle drilled to the west at a dip of 62 degrees. The primary purpose was to recover mineralized core from the Nash Creek deposit to supply rock for Dense Media Separation (DMS) metallurgical testing. The hole was extended 260m beyond the original proposed depth of 320m because sulphide mineralization was intersected in sufficient amounts to warrant extension of the hole.
Assays are pending on 261 samples submitted for copper-lead-zinc-silver assay. The Nash Creek NI43-101 compliant deposit is represented by a 93m interval containing 10 to 20% sulphide mineralization from 145m to 238m and a 35.7m interval with 10 to 15% sulphide mineralization from 241.3m to 277m.
Additional mineralized zones occur below the base of the deposit including a 10m interval from 282m to 292m and a 115m interval from 323m to 438m each containing up to 10% sulphides. A deeper interval from 438m to 538m is variably mineralized with up to 5% sulphides suggesting significant potential for extensions of the Nash Creek deposit at depth.
DMS Testing: Five of the samples representing 25.99m of mineralized core were submitted to the RPC research facility for DMS testing. The DMS process is designed to separate the relatively dense zinc-lead bearing sulphide mineralization from the lighter wall-rock based upon the difference in specific gravity. This test may determine whether the Nash Creek ores can be upgraded prior to milling. Upon production, this process would effectively increase the grade going to mill, thereby reducing energy consumption and transportation costs as well as extending mine life.
Derek F. Brown, P.Geo. and consultant to SLAM is the Qualified Person responsible for the technical information contained herein. All cores were delivered to a secure facility. Logging and sampling have been completed. Samples have been shipped for assaying and testing with results pending.
About Nash Creek:
SLAM's eastern flagship property boasts excellent infrastructure with a power-line, railway and major highway transecting the property. These links provide immediate access to the Belledune seaport and lead smelter located within 25 km as well as Xstrata's BMS No. 12 mine and mill within 75 km. Maple Minerals Caribou mine/mill complex, although not currently in operation, is approximately 90 km by road from Nash Creek.
Nash Creek's 43-101 compliant resource estimate includes 7.8 M tonnes of indicated resource comprised of zinc, lead and silver.
About SLAM Exploration Ltd:
SLAM is a mineral resource company based in Miramichi, New Brunswick and is currently drilling for gold at Reserve Creek in Ontario and is actively exploring for silver-copper-lead-zinc in New Brunswick. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
On behalf of the Board
Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.
SEDAR: 00012459E
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration and development activities and events or developments that SLAM expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward looking statements. Please see our public filings at www.sedar.com for further information.
SLAM Exploration Ltd.
Brian Jones, Investor Relations; Toll Free: 855.800.6109
Toronto: 647.729.1436
info@slamexploration.com
It's all happened before and it will all happen again. Might as well profit from it.
