Bonanza Zone Follow Up
SLAM Explorations (v.SXL), on Friday, took the somewhat unusual step to issue a news release stating that the much anticipated Reserve Creek gold property follow up assays (to a previous intersection of 16.85 m of 16.45 gold/tonne) will be released on or about Tuesday, January 11.
As stated above, the current program follows up a very successful summer program on its Pickle Lake area gold property where SLAM interescted a "bonanza grade zone" including those assays listed below. What's exciting is that the company reported intersecting mineralization up to 30m in width with visible gold in 5 of the first 6 holes. It's worth noting that these holes were drilled on 15 and 30 m step out locations from the bonanza zone hole, making the probability of success that much greater.
After a brief break, drilling will restart again on the Reserve Creek property where an extensive program is expected for 2011. The company also awaits further results from its Silverjack silver-zinc-lead property where a 3000 m drill program already reported drill intersections including 9.60 m grading 230.90 g/t silver, 1.53% copper, 2.89% lead and 2.53% zinc.
The company's treasury is topped up with $5,000,000 to carry out exploration for the season.
SLAM closed at 23.5 c on Friday.
Past Results of Properties Being Drilled
Reserve Creek: 16.85 m of 16.45 g Au/t (within a 47.5 m of 6.58 g/t)
30 m of 5.48 g Au/t (incl. 5.4m of 10 g, 6 m of 7.3 g, 1.4 m of 34 g, 0.3 m of 107 g)
New Brunswick Drill Targets
Silverjack: drill assays up to 653 g/t (19.05 oz/ton) silver, 2.69% copper, 11.9% zinc and 9.8% lead
Knowles Vein (Silverjack): 17 ton bulk sample grading 51 oz (1750 g) silver, 14.3 % lead, and 10.2 % copper.
Mitchell (now part of Silverjack): grab samples up to 12.9% copper, 126 g silver/t
Nash Creek (SXL's deposit adjacent to Silverjack): NI 43 101 compliant 9 million tonne silver-zinc-lead open pit amenable deposit with insitu value of $900,000,000; all infrastructure in place