Slam Exploration Ltd
Tuesday, September 11th, 2007
SLAM Exploration Ltd. announces the discovery of a near-surface, flat lying extension to its wholly owned Nash Creek Deposit in New Brunswick. SLAM has drilled 39 holes to date for a total of 4,500 metres of a 10,000 metre drill program planned for completion in 2007.
Twenty-four of the 39 holes have encountered a zone of near-surface base metal mineralization extending northward from the Nash Creek deposit. Preliminary core logs from twenty of these holes have intersected volcanogenic massive sulphide (“VMS”) breccia mineralization. Intercepts range from a depth of 10 to 50 metres from the surface with 14 holes collaring directly into sulphide mineralization. The discovery is associated with an area of gravity and intermittent zinc-lead-silver soil anomalies trending a further 2,000 metres northward from the deposit with an approximate width of 500 metres. Current drilling has tested 200 metres of this trend which remains open for expansion to the north. Assays are pending on all 24 holes. Photographs of the drill core as well as a plan map of drill hole locations are on the company web site http://www.slamresources.com.
The Nash Creek Deposit is a flat lying system of VMS mineralization with a minimum strike length of 1050 metres and thickness ranging from 2.5 to 27.0 metres. The new discovery presently has a drilled thickness ranging from 2.5 to 32.5 metres. SLAM is very encouraged by this discovery of near-surface mineralization with potential for low-cost open pit mining. A bulk-mineable open pit resource will increase the viability of this project and greatly reduce start-up costs when the deposit is developed. After completion of the current drilling program, the grade and tonnage will be updated in an independent 43-101 Report and used in conjunction with metallurgical test results for feasibility purposes.