SLAM Acquires New Gold Project
MIRAMICHI, New Brunswick, May 11, 2023 (GLOBE NEWSWIRE) — SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL) is pleased to announce it has entered into an option agreement (the “Option Agreement”) to acquire the Shadow Lake gold property located on the Trans-Canada highway 15 kilometres west of Saint John, New Brunswick (the “Property”). Previous workers reported 7 recent gold discoveries with grab samples ranging up to 70.4 grams per tonne (“g/t”) gold at Shadow Lake. On a due diligence visit, SLAM’s prospecting team collected 5 samples and reported visible gold at one of these gold discovery sites. The Shadow Lake and adjacent Jake Lee claims cover gold occurrences associated with the Fundy fault zone, a broad system of deep-rooted Appalachian structures centered around the Belleisle bay fault. This is similar to the setting of the Queensway project adjacent to the Appleton fault in Newfoundland where recent gold discoveries have been reported by Newfoundgold (TSXV-NFG).