SLAM announced a flow-through and common share financing to raise $500,000. The flow-through funds will be used for exploration on SLAM’s cobalt and zinc-copper-lead-silver projects in the Bathurst mp (“BMC”) where Trevali Mining Corp. operates the Caribou zinc mine in New Brunswick. SLAM priorities include the Ramsay cobalt project and Portage zinc project.
Previous workers drilled 9 diamond drill holes on the Ramsay cobalt occurrence in 2004. Hole M04-04 cut a 0.8m core interval grading 0.96% cobalt within a 4.8m interval grading 0.35% cobalt. Hole M84-05 collared 50 m southeast of hole M04-04 intersected 2.0 m grading 0.81% cobalt within a 6.1 m interval grading 0.31% cobalt. The Ramsay Brook cobalt property covers 2436 hectares located on highway 180 and adjacent to our Portage zinc property. Click BMC for details.
Historic core intervals drilled on Portage zone include 25.30m grading 3.27% zinc 0.52% lead 0.30% copper including 3.35m grading 5.81% zinc 2.97% lead 0.61% copper. The volcanogenic massive sulphide (VMS) mineral occurrence has been drilled over a strike length 450 m and to a depth of 250m. It and is open at depth and along strike.
SLAM’s prospecting team is currently evaluating potential targets on its Connector project directly along strike from the former producing Brunswick No. 12 and No. 6 mines owned by Glencore. The massive Brunswick No 12 deposit was discovered in 1953 and operated continuously from 1964 to 2013.
SLAM launched, through BTV-Business Television, a branding and awareness campaign on BNN. BTV and CEO Clips profiles innovative publicly traded companies in North America and features a short clip on SLAM as broadcast on BNN. . View BNN Clip .
SLAM sold 100% interest in the Coulee mineral claim to Osisko Metals in return for a cash payment of $100,000. SLAM will retain a 1% NSR on any future mineral production. Osisko Metals may purchase the NSR at any time in return for a cash payment of $750,000. The Coulee comprises 1 claim covering 372 hectares located 6km southwest of the former producing Brunswick No. 6 mine and adjacent to the Flat Landing Brook zinc-lead-silver prospect owned by Osisko Metals.
The Company has acquired a portfolio of mineral claims in the Bathurst Mining Camp (“BMC”), a major zinc producing area inf New Brunswick, Canada. The Company now owns 12 projects covering 29,000 hectares of prospective land. SLAM selected these properties for acquisition based on a database that covers the entire BMC district.
The Menneval Gold project was the site of a new gold discovery made by SLAM’s advance scout team in 2012. The initial discovery of the Maisie vein yielded a bonanza grade chip sample grading 1100 g/t gold over 1.1 m from a trench in 2012. Since then we have drilled 64 holes with grades up to 121 g/t gold over 0.31 m. The deepest intercept to date is a core interval grading 44.53 g/t gold over 0.85m at a depth of 30 min hole MG13-63. The deposit is open at depth.