MIRAMICHI, NEW BRUNSWICK -- (Marketwire) -- 03/19/13 -- SLAM Exploration Ltd. (TSX VENTURE: SXL)(OTCBB: SLMF) ("SLAM") is pleased to announce diamond drilling results grading up to 121.00 g/t gold over 0.31 m from the 17 hole Phase II drilling program recently completed at its wholly owned Menneval gold project in New Brunswick. This bonanza grade interval occurs in hole MG1363 within a 0.85 m interval grading 44.53 g/t gold with visible gold reported.
SLAM is very encouraged by these results. The Maisie vein extends over a strike length of 700 m and to a depth of 45 m. Drilling indicates that the bonanza shoots identified in surface trenches can be followed at depth. Results are pending from metallurgical testing of a 27 kg bulk sample by RPC of Fredericton, NB.
According to SLAM president Mike Taylor, "Even though the nugget effect makes it difficult to represent this type of bonanza vein by drilling, this project continues to exceed our expectations. The next step is to initiate a permitting and consultation process in preparation for a potential open pit mine. Like many gold mines in the past, this is expected to start out as a glory-hole type of operation."
The Phase II program comprised 17 holes numbered Mg1348 to MG1364 for a total of 582 m. This program follows the successful 47 hole Phase I program drilled in December, 2012. To view maps and exploration results to date you are invited to the SXL website 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/. Selected results from the Phase II program along with the 8 hole Zone 9 program are summarized in the table below.
Hole_ID From_m To_m Interval_m Gold_g/tMG1364 42.23 43.40 1.17 0.67MG1363 30.55 31.40 0.85 44.53 Includes 31.09 31.40 0.31 121.00MG1359 13.00 13.12 0.12 1.24MG1358 11.89 12.00 0.11 1.49MG1357 16.50 17.70 1.20 1.67MG1356 12.00 15.00 3.00 0.72MG1355 10.00 10.80 0.80 2.11MG1354 8.60 9.90 1.30 3.36 Includes 9.10 9.40 0.30 12.10MG1352 16.00 17.90 1.90 22.97 Includes 17.60 17.90 0.30 62.80MG1351 14.85 15.05 0.20 2.99MG1350 7.00 7.12 0.12 1.63MG1349 41.70 44.00 2.30 0.90MG1348 37.00 45.31 8.31 0.60BG1308 14.00 14.40 0.40 0.36BG1308 21.60 21.90 0.30 0.20BG1307 16.07 16.70 0.63 0.19BG1305 17.80 18.30 0.50 0.24BG1305 18.90 19.00 0.10 0.80BG1305 19.35 19.45 0.10 0.36BG1304 23.95 24.15 0.20 0.43BG1302 49.67 50.07 0.40 1.81BG1302 54.75 55.23 0.48 1.07BG1301 16.37 16.60 0.23 0.74BG1301 21.00 21.57 0.57 0.73The intervals are core lengths. True thickness may vary.Holes MG1348 to MG1359 were previously reported.
