SLAM Exploration Ltd., a project-generating resource company, reports that it has entered into an agreement with a diamond drilling contractor to drill at least 1200 m on its 100% owned Menneval gold project situated in the mineral-rich province of New Brunswick.
Image Credit: Phawat/Shutterstock.com
The targets for drilling are No 2, No 18, and No 22 veins, where the company reported visible gold in 2020.
Grab samples obtained from the No 2 vein ranged up to grading 363.00 g/t on December 03rd, 2020. SLAM reported various sites of visible gold, including assay results grading 1.22 to 3955 g/t gold over widths ranging 0.04 to 0.12 m thick in vein No 18 and further reported up to 11.30 g/t in vein No 22. These are included in a swarm of gold-bearing veins on the flank of vein 22, having a total strike length of 1100 m.
Nearly 2000 m of trenching at Menneval has been completed by SLAM. In total, 41 samples were presented for gold assay, including 10 samples from newly discovered veins and 30 from a train of float stretching eastward from the vein stockwork.
The advance scout team at SLAM has been performing a prospecting program on its Wilson Brook and Birch Lake projects next to the Plaster Rock, New Brunswick. These targets are chosen sites with raised gold values of up to 73 ppb gold in tills inside a 26-km gold trend at the Wilson Brook project.
SLAM has finished a 300-m trenching program to examine one of the anomalous till sites. The trenching helped find a train of quartz floats along a 500 m strike length. Around 10 samples have been provided for assay.
Furthermore, the prospecting team will check a range of anomalous till samples ranging up to 22 ppb gold along a strike length of 8 km at Birch Lake. This anomaly is located to the northwest of the historical Birch Lake mineral occurrence. The company went on to sample trench rubble grading up to 68.95% lead, 6.70 g/t gold, 3.45% zinc, 290 g/t silver, and 0.95% copper in 2020. The company aims to test chosen targets by extra trenching.
The Menneval Project
The Menneval Gold project is SLAM’s flagship project, with plans to concentrate on testing the strike and depth extent of the swarm of new gold veins found in 2020. The widened property includes 572 mineral claim units that encompass 12,390 hectares situated in northwestern New Brunswick.
SLAM retains a 100% interest in the claims except for four claim units encompassing 105 hectares subject to a 1.5% NSR. SLAM can buy down 0.5% of the NSR for $500,000, and it has the right of initial refusal on the leftover 1% NSR.