MIRAMICHI, NEW BRUNSWICK -- (Marketwire) -- 01/17/13 -- SLAM Exploration Ltd. (TSX VENTURE: SXL)(OTCBB: SLMF) ("SLAM") is pleased to announce a 0.3 m core interval grading 104 g/t gold within a 4 m quartz vein interval grading 8.51 g/t gold in hole MG1226 drilled during the 2012 program at its wholly owned Menneval gold project in New Brunswick. Twenty-two of the 26 holes reported to date have intersected gold-bearing quartz veins over core intervals ranging from 0.10 m to 4.00 m.
Holes MG1224 to MG1226 were drilled on one section and appear to represent a thicker and higher- grade shoot within the Maisie vein system. The drilling program has extended the vein system to a depth of 25 m. The target vein was identified in a trenching program from which the Company reported numerous sites of visible gold with bonanza grade assays as it traced the vein system over a 700 m strike length in 2012.
The Maisie vein has many similarities with the world-famous California motherlode as described by Albert Knopf in a 1929 USGS Professional Paper titled "The Motherlode System of California". Summarizing from Knopf, "The sediment-hosted gold-bearing veins can vary from ribbon-textured to bull quartz associated with fault gouge zones. The veins pinch and swell abruptly forming ore shoots that average 200 feet (60 m) to 300 feet (90 m) in strike-length and extend to depths in excess of 4500 feet (1370 m)."
Regarding the Maisie Zone, Mike Taylor states, "Trenching uncovered a vein system over a 700 m strike-length with bonanza gold sites up to 1100 g/t over 1.1 m. The diamond drilling program extends the presence of bonanza grades to a depth of 25 m. These are very significant results from the early stages of this new gold discovery".
Drill hole locations are shown at http://www.slamresources.com/projects/new-brunswick/menneval. Photos of drill core with visible gold can be viewed at http://www.slamresources.com/core-shack/. Assay results for holes MG1211 to MG1226 are summarized in the table below.
Hole_ID From_m To_m Interval_m Au_g/tMG1226 21.00 25.00 4.00 8.51 Includes 24.50 24.80 0.30 104.00MG1225 17.90 18.80 0.90 8.66 Includes 17.90 18.30 0.40 16.90MG1224 12.00 14.00 2.00 8.78 Includes 13.00 13.35 0.35 46.10MG1223 31.30 32.30 1.00 0.17MG1221 16.30 16.80 0.50 11.65MG1220 14.20 15.50 1.30 0.61MG1219 12.00 12.30 0.30 2.55MG1218 15.35 15.65 0.30 1.25MG1217 13.50 13.80 0.30 5.85MG1216 12.00 13.20 1.20 0.34MG1215 3.00 3.15 0.15 8.40MG1213 24.00 24.35 0.35 1.02MG1212 21.60 22.10 0.50 9.09MG1211 19.70 20.15 0.45 10.90The intervals are core lengths. True thickness may vary.
