TORONTO, ONTARIO--(Marketwire - May 28, 2010) - SLAM Exploration Ltd. (TSX VENTURE:SXL) is a development-stage Canadian mineral exploration and development company with properties in two mining friendly jurisdictions: northern Ontario (gold); and northern New Brunswick (zinc-lead-silver).
With sufficient funds from a recent financing, SLAM Exploration is proceeding with a $1.1 million exploration program across its extensive base metals and precious metals property portfolio.
A key area of drilling activity is the Fort Hope area in Ontario where SLAM is following up on significant results from a 2008 drilling campaign, which revealed the presence of significant gold mineralization in a geological setting similar to the adjacent Pickle Lake and Red Lake gold camps, prolific areas that have seen the production of more than 40 million ounces of gold.
SLAM also intends to drill at its Silverjack property, which is adjacent to its Nash Creek property in New Brunswick. Nash Creek has an NI 43-101 compliant lead-zinc-silver resource currently having 9 million tonnes (indicated & inferred). Any expansion of this resource could trigger interest from Xstrata, which operates the depleting BMS 12 mine nearby.
The shares are considered a Speculative Buy, and suitable for longer-term, risk-tolerant investors. Our 12-month Target Price is $0.33 per share.
This Press Release was prepared by eResearch and was not vetted by SLAM Exploration Ltd. Further, the Recommendation and Target Prices contained in this Press Release and in the Initiating Report are strictly those of eResearch and, due to securities laws, are not endorsed by SLAM Exploration Ltd.
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