SLAM Launches Diamond Drilling Program
SLAM Exploration Ltd. announces that diamond drilling is underway at the Miminiska-Keezhik gold project located 125 km east of the former gold producing town of Pickle Lake, Ontario.
Bradley Bros. Inc. has been contracted to complete a minimum of 1,500 metres of diamond drilling. The purpose of this drilling program is to confirm significant gold occurrences reported by previous workers and to test for potential extensions.
These occurrences include up to 0.17 oz/ton gold over 12 feet in diamond drill core and up to 0.470 oz/ton over 11 feet in trench channel samples.
The exploration program benefits from an extensive database of previous exploration results, including diamond drilling, humus geochemistry, induced polarization (IP), magnetometer and horizontal loop electromagnetic surveys.
The property is comprised of 660 claim units in four claim groups covering approximately 10,560 hectares that overlie gold-bearing rocks of the Uchi subprovince similar to those hosting the mines of the famous Red Lake gold camp. Goldcorp’s Red Lake Mine is one of North America’s most profitable gold mines.
SLAM has an option with 1533687 Ontario Ltd., to earn a 70% interest in the Miminiska-Keezhik properties by completing $1,000,000 in exploration expenditures, making $50,000 in cash payments and issuing 400,000 common shares of SLAM to 1533687 Ontario Ltd. over a three year period.
SLAM Exploration Ltd. is a mineral resource company based in Miramichi, New Brunswick.
SLAM holds a 50% share of the Bathurst Joint Venture with Noranda Inc. located in the world class Bathurst Mining camp. In addition, SLAM has interests in several gold properties including Miminiska and Keezhik in the gold-producing Uchi subprovince of Ontario.