- Vancouver-based Slam Exploration (SXL) has started a trenching program on its property in Eastern Canada
- The company owns 100 per cent of the Menneval Gold Project located in New Brunswick
- The Menneval Gold Project is the company’s flagship project
- The company will focus on testing the strike and depth extent of the swarm of new gold veins discovered in 2020
- Slam Exploration is up 6.67 per cent, trading at C$0.08 at 12:04 pm ET
Vancouver-based Slam Exploration (SXL) has started a trenching program on its property in Eastern Canada.
The company owns 100 per cent of the Menneval Gold Project located in the mineral-rich province of New Brunswick.
The Menneval Gold Project is the company’s flagship project and it intends to focus on testing the strike and depth extent of the swarm of new gold veins discovered in 2020.
Targets include numerous new gold veins discovered in 2020 and potential extensions associated with gold soil trends
These veins are part of a swarm of gold-bearing veins extending eastward over a strike-length of 1,100 metres.
The expanded property is comprised of 572 mineral claim units covering 12,390 hectares located in northwestern New Brunswick. The mineral resource company holds a 100 per cent interest in the claims with the exception of four claim units covering 105 hectares that are subject to a 1.5 per cent Net Smelter Return (NSR) royalty. The company can buy down 0.5 per cent of the NSR for $500,000 and it has the right of first refusal on the remaining 1 per cent NSR.
Slam Exploration is a project-generating resource company focused on is its flagship Menneval Gold Project where the 2021 trenching program is underway. The Company intends to conduct preliminary prospecting and geochemistry on the Gold Brook, Birch Lake gold, Wilson gold and Ramsay gold projects in the vicinity of the Millstream Break in northern New Brunswick.
The company owns a portfolio of base metal properties in the Bathurst Mining Camp that is subject to an option agreement.
Slam Exploration is up 6.67 per cent, trading at C$0.08 at 12:04 pm ET.