Advanced Survey To Define Targets Beneath Copper Nickel Cobalt Zones
MIRAMICHI, NB / ACCESS Newswire / June 30, 2025 / SLAM Exploration Ltd. ("SLAM" or the "Company") (TSXV-SXL) is pleased to announce that it has mobilized a geophysics crew to conduct Induced Polarization ("IP") surveys over the Granges, Farquharson and Logan copper nickel cobalt zones on its wholly owned Goodwin claims in the Bathurst Mining Camp of New Brunswick. The first IP line will cover a 64.90-meter core interval at a recovered grade of 1.49% copper equivalent ("CuEq") from 23.60 meters to 88.50 meters in drill hole GW2402 on the Granges Zone. This 1600-meter line is designed to cover both the Granges and Logan zones and test the area beneath the copper-nickel-cobalt zone in hole GW24-02. The Company expects to receive preliminary survey results within one week.
The Company also plans to test the Farquharson Zone. The initial line in this area will cross over a 60.60-meter core interval at a recovered grade of 0.84% CuEq from 72.90 meters to 133.50 meters in hole GW2403. The IP survey is expected to identify potential higher grade mineral zones and depth extensions of the Granges, Farquharson and Logan copper nickel cobalt zones. The recovered CuEq grades above were calculated using a recovery rate of 85% based on assays listed in the table below and previously reported in news releases August 7, 2024 for hole GW2402 and August 12, 2024 for hole GW2403.
|
Hole ID |
From |
To |
Length |
Copper |
Nickel |
Cobalt |
*Copper% |
|
M |
M |
Meters |
% |
% |
% |
Equivalent |
|
|
GW2402 |
23.60 |
88.50 |
64.90 |
0.73 |
0.64 |
0.05 |
1.49 |
|
GW2402 |
23.60 |
63.00 |
39.40 |
1.11 |
0.95 |
0.07 |
2.23 |
|
GW2403 |
72.90 |
133.50 |
60.60 |
0.39 |
0.35 |
0.04 |
0.84 |
|
GW2403 |
80.50 |
110.50 |
30.00 |
0.45 |
0.44 |
0.05 |
1.03 |
|
Metal |
$US/lb |
||||||
|
Copper** |
$ 5.07 |
||||||
|
Nickel** |
$ 6.89 |
||||||
|
Cobalt** |
$ 15.12 |
||||||
|
*Copper equivalent calculation based on 85% recovery for copper and nickel |
|||||||
|
**Copper equivalent calculated from metal prices posted June 27th, 2025 on Daily Metal Price |
|||||||
About Jake Lee Gold
Assays are pending for the Company's trenching and prospecting program at its wholly owned Jake Lee mineral claims located in southwestern New Brunswick. The batch includes rush samples from the vicinity of trench JT25-01, where the Company recently excavated deeper to further expose a quartz vein. As previously disclosed in a news release dated May 20, 2025, four samples from this vein returned grades ranging from 18.50 g/t gold to 75.90 g/t gold.
About SLAM Exploration Ltd
SLAM Exploration Ltd. is a publicly traded resource company with a 40,000-hectare portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. The Company commenced its 2025 exploration season with a new gold discovery on the Jake Lee gold project, reporting 4 samples grading 18.50 to 75.90 g/t gold in a news release dated May 20, 2025, Assays are pending on additional samples from the follow-up prospecting and trenching program.
The 2025 exploration program on the Goodwin Copper-nickel-cobalt project is now underway, beginning with the IP survey, which is intended to refine drill targets in and around three mineralized zones where the Company completed 15 diamond drill holes in 2024. Slam reported significant copper, nickel, and cobalt intercepts including a 64.90-meter core interval at a recovered grade of 1.49% CuEq from 23.60 meters to 88.50 meters in drill hole GW2402 on the Granges Zone (CuEq calculated at a recovery rate of 85% from assay results announced by press release August 7, 2024).
SLAM operates as a project generator and expects to receive significant cash and share consideration in 2025. Notably, on February 28, 2025 Slam received $9,000 in cash and 1,200,000 shares of Nine Mile Metals Inc. (CSE:NINE) pursuant to the Wedge project agreement. On March 29, 2025, the Company also received a cash payment of $60,000 and 180,000 shares of a private company pursuant to the Ramsay gold agreement. The Company retains net smelter return (NSR) royalties on both projects and expects additional cash and share payments.
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.
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements in this release, other than statements of historical fact, are forward-looking statements and include, but are not limited to, statements regarding: the Company's planned exploration activities; the anticipated results of IP surveys; the receipt and timing of assay results; the potential for additional mineralized zones or depth extensions; the Company's expectations regarding future payments under option or royalty agreements; and the potential for future drilling programs.
Forward-looking statements are based on the beliefs, assumptions, and expectations of management as of the date of this release and involve a number of known and unknown risks, uncertainties, and other factors. These risks and uncertainties may cause actual results, performance, or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. These factors include, among others, risks related to exploration and development; the interpretation of exploration results; delays or failures in obtaining assay results; commodity prices; market conditions; regulatory approvals; availability of financing; and other risks detailed from time to time in the Company's filings with Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof.
Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additional information identifying risks and uncertainties is available in the Company's filings with Canadian securities regulators, which 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 This email address is being protected from spambots. You need JavaScript enabled to view it.
Eugene Beukman, CFO
Contact: 604-687-2038 This email address is being protected from spambots. You need JavaScript enabled to view it.
SEDAR+: 00012459
