New Brunswick Mining News

7/16/2012

SLAM Makes New Gold Discovery

SLAM Exploration Ltd. is pleased to report a new bonanza gold discovery on its wholly-owned Menneval claims in New Brunswick. The new discovery is 30 km north of the Lavoie gold occurrence where trenching produced grab samples grading up to 493 g/t gold on SLAM's NW Gold project as reported January 9, 2012.

SLAM has named this new discovery the "Maisie Zone". It comprises 3 angular boulders of mineralized quartz with grab samples ranging from 5.16 to 118 g/t gold. These boulders are aligned with several other auriferous quartz boulders grading up to 0.367 g/t gold over a distance of 2500 m. Company geologists also found a quartz boulder grading 1.54 g/t gold that appears to represent a separate vein structure located at a distance of 5800 m. Assays are pending on additional prospecting samples. 

The Company is very encouraged by this new discovery. SLAM geologists have identified the widespread presence of auriferous quartz boulders in the vicinity of the bonanza grade Maisie Zone boulders. Only preliminary, reconnaissance prospecting has been completed to date. The Company is now following up with more detailed prospecting in preparation for a trenching program. Detailed prospecting is also in progress on the NW Gold project and is generating a number of new trenching targets in addition to the original Lavoie gold discovery. Both the Menneval and NW Gold projects have demonstrated significant gold potential. The Company will continue the prospecting campaign and expects to follow with trenching to test these sites. 


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