143 0 Kommentare Slam Acquires New Gold Properties - Seite 2

All three properties are located just south of the Rocky Brook-Millstream Break (“Millstream Break”) adjacent to the Triple Fault properties owned by Puma. The Millstream Break is a major Appalachian structure associated with significant gold discoveries in New Brunswick including the Williams Brook gold discovery owned by Puma Resources Inc. and the Elmtree gold deposit owned by Canadian GoldCamps Corp. as well as SLAM’s Wilson Brook gold property located 60 km to the southwest.

SLAM’s Flagship Menneval Gold Project: SLAM’s 2020 exploration program resulted in discovery of numerous new gold-bearing veins including No 18 where the Company reported 12 sites of visible gold and assay results grading 1.22 to 3,955 g/t gold over widths ranging from 0.04 to 0.12 m thick. A soil geochemical survey comprising 897 samples detected gold levels ranging up to 683 ppb gold and anomalous gold trends up to 1,800 m long. These gold anomalies are located close to and along strike from known gold veins and are largely untested. More information is available on SLAM’s new website www.slamexploration.com.

The new gold vein discoveries and associated soil anomalies suggest potential for sizeable and economically viable gold deposits in an area with excellent access and infrastructure. They are hosted with a sequence of sedimentary and intrusive rocks that occupy an antiformal structure in the footwall of the Restigouche fault. The Restigouche fault is part of a major Appalachian suture that extends from the Haile gold mine operated by OceanaGold in South Carolina through Marathon’s Valentine Lake gold deposit in Newfoundland to Dalradian’s Curraginalt gold deposit in Ireland.

The Menneval gold project comprises 572 mineral claim units in 8 mineral claims covering 12,450 hectares The Company holds a 100% interest in the claims with the exception of 4 claim units covering 105 hectares that are subject to a 1.5% NSR. The Company can buy down 0.5% of the NSR for $500,000 and it has the right of first refusal on the remaining 1% NSR.

The Company intends to focus its 2021 exploration strategy on the Menneval gold project. The first priority of the 2021 exploration program is to test significant gold trends in soils as reported by the news release dated January 19, 2021 and potential extensions of gold veins discovered in 2020.