MIRAMICHI, NEW BRUNSWICK–(Marketwired – June 1, 2016) – SLAM Exploration Ltd. (TSX VENTURE:SXL) (the “Company” or “SLAM“) is pleased to announce it has placed an order with Mt. Baker Mining and Metals LLC for a turnkey plant to process gold from the Maisie gold deposit on SLAM’s wholly owned Menneval project in New Brunswick.
The Company intends to use this plant to process gold from the Maisie gold deposit under a License of Occupation that authorizes SLAM to extract and process samples over a two year period. In connection with this License, the New Brunswick Department of Environment and the Department of Energy and Mines have both approved the removal and processing of a 2,000 tonne bulk sample from this high grade gold deposit. No drilling or blasting is required for this program. No chemicals will be used in the process. The purpose is to develop environmentally and commercially sustainable techniques to extract gold, provide an estimate of the grade of the Maisie deposit and demonstrate the potential for longer term mining operations.
The Company proposes to extract the sample from known shoots of high grade mineralization at surface using an excavator. SLAM previously announced channel samples ranging from 5.17 g/t gold over 1.0m up to 49.5 g/t gold over 0.45m that were cut during a 2013 trenching program. The initial discovery trench produced a bonanza grade chip sample grading 1100 g/t gold over 1.1 m in 2012. Previous diamond drilling results from 60 holes by SLAM indicate that the high grade Maisie deposit shoots extend to a depth of at least 30 m.
The plant ordered by SLAM includes a hammermill, classifier and shaker tables similar to the plant used to test a sample from the Maisie deposit as described in a news release published by SLAM on March 7, 2016. A video of the test plant was created by Mt. Baker and is posted on SLAM’s website www.slamexploration.com.
About The Menneval Project: SLAM holds 100% interest in 12 contiguous claims that cover 5,000 hectares acquired by map-staking near Menneval in northwest New Brunswick. The property hosts a number of recent gold discoveries including the Maisie deposit and Zone 9. Click on the SLAM website at http://www.slamexploration.com for more detailed information.
About Mt. Baker Mining and Metals LLC: Mt. Baker specializes in designing and manufacturing custom small scale hard-rock mills and mining equipment designed for the recovery of fine gold and other dense materials using gravity methods. To learn more about jaw crushers, hammer mills and gold shaker tables, visit www.mbmmllc.com or contact Mt. Baker by phone 360-595-4445 or email [email protected].
About SLAM Exploration Ltd:
SLAM is a project generating resource company with a portfolio of gold and base metal projects in eastern Canada. The Menneval gold project resulted from the discovery of the Maisie gold deposit by SLAM’s advance scouting team in 2012. Other gold projects include the Reserve Creek and Miminiska gold projects in Ontario. SLAM holds an NSR royalty on the Superjack and Nash zinc-lead-copper-silver deposits. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com. Follow us on twitter @SLAMGold.
Qualifying Statements: Mike Taylor, P.Geo. President and CEO of SLAM Exploration Ltd., is the Qualified Person responsible for the technical information contained herein.
Certain information in this press release may constitute forward-looking information, including statements that address the Private Placement, the closing of the Private Placement, future production, reserve potential, exploration and development activities and events or developments that the Company expects. 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.sedar.com. 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.
President & CEO
SLAM Exploration Ltd.