SLAM Zinc Properties- Bathurst Mining Camp
SLAM announced assay results from its prospecting and trenching program at Lower 44 and Connector. These zinc projects are part of SLAM’s mineral portfolio in the Bathurst Mining Camp (“BMC”) of New Brunswick, Canada.
SLAM has 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 20,000hectares of prospective land. SLAM selected these properties for acquisition based on a database that covers the entire BMC district.
The Connector is located between the former producing Brunswick No. 6 and No. 12 mines owned by Glencore. The Lower 44 is located 20 km south of the Caribou Mine. It includes the former producing Wedge copper mine.
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.