High-Resolution IP Survey Defines Priority Targets Beneath Copper Nickel Cobalt Zones on Goodwin Project
MIRAMICHI, NB / ACCESS Newswire / July 18, 2025 / SLAM Exploration Ltd. ("SLAM" or the "Company") (TSXV:SXL) is pleased to announce the results from an Induced Polarization ("IP") survey conducted over the Granges, Farquharson and Logan copper nickel cobalt zones on its wholly owned Goodwin claims, located in the Bathurst Mining Camp, New Brunswick. The IP survey identified a highly chargeable deep conductor situated between the Granges and the Logan zone. As previously reported, drill hole GW2402 intersected a 64.90-meter core interval grading 1.49% copper equivalent ("CuEq"), from 23.60 meters to 88.50 meters, within the Granges zone.
The Company is encouraged by these exciting results. As shown on Figure 1, charge abilities ranging up to the 990 Mv/v define deep targets in the vicinity of the Granges zone. To further define these targets, the Company has designed on a grid of lines spaced at 100 meters to covering a 2,000 x 2,000 meter area over the Granges, Farquharson and Logan zones as well as potential extensions. The Company is requesting price quotes for linecutting and an IP survey over this grid.
Copper equivalent grades for hole GW24-02 were calculated using a recovery rate of 85%, based on assay results set out in the table below and previously disclosed in the Company's news releases dated August 7, 2024 (GW2402).
Hole ID | From | To | Length | Copper | Nickel | Cobalt | *Copper% |
| M | M | Meters | % | % | % | Equivalent |
GW2402 | 23.60 | 88.50 | 64.90 | 0.73 | 0.64 | 0.05 | 1.49 |
GW2402 | 23.60 | 63.00 | 39.40 | 1.11 | 0.95 | 0.07 | 2.23 |
Metal | $US/lb |
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Copper** | $ 5.07 |
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Nickel** | $ 6.89 |
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Cobalt** | $ 15.12 |
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*Copper equivalent calculation based on 85% recovery for copper and nickel | |||||||
**Copper equivalent calculated from metal prices posted June 27th, 2025 on Daily Metal Price. | |||||||
Results are pending on a second IP line L400E and the IP survey is in progress on the third line, L5300E. This line will run directly over hole GW24-03 on the Farquharson zone.
Preliminary IP chargeability and resistivity results for the first line (L200E) as described above are shown with inversions on Figure 1.
Figure 1 Goodwin Induced Polarization - Chargeability, Resistivity & Inversions
CFO Appointment: The Company is also pleased to announce the appointment of James (Jim) Henning as Chief Financial Officer, effective July 8, 2025. Mr. Henning is a Chartered Accountant and has served as the Founder and President of Corpfinance Advisors Inc. since 1984. He brings extensive experience in business valuation across a wide range of industries and has advised companies on financing, public offerings, and corporate restructuring initiatives. His sector expertise includes retail cannabis, manufacturing, telecommunications, software, biomedical, oil and gas services, renewable energy and mining. Mr. Henning currently serves as Chief Financial Officer for several companies listed on the TSX Venture Exchange and the Canadian Securities Exchange.
"We are very pleased to welcome Jim Henning to the executive team as Chief Financial Officer," said Mike Taylor, CEO of SLAM. "Jim brings a wealth of financial expertise and strategic insight, particularly in capital markets. His deep understanding of the resource sector and proven leadership will be instrumental as we advance our exploration programs and strengthen our financial position."
About Jake Lee Gold: As previously reported in the Company's news release dated July 9, 2025, eight grab samples collected from a bedrock vein in Trench JT25-01 returned gold assay values ranging from 7.42 grams per tonne ("g/t") to 94.80 g/t. Assays are pending on additional samples collected from the same area.
About SLAM Exploration Ltd: SLAM Exploration Ltd. is a publicly traded resource company with a 40,000-hectare portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. The Company commenced its 2025 exploration season with a new bedrock gold discovery on its Jake Lee Gold Project, reporting four samples grading between 18.50 g/t and 75.90 g/t gold (see news release dated May 20, 2025), followed by eight samples ranging from 7.42 g/t to 94.80 g/t ( see news release dated July 9, 2025).
The 2025 exploration program on the Company's Goodwin Copper-nickel-cobalt project is now underway, beginning with the IP survey designed to refine drill targets within and surrounding three mineralized zones where SLAM completed 15 diamond drill holes in 2024. Notably, drill hole GW2402 on the Granges Zone intersected a 64.90-meter core interval grading 1.49% CuEq, from 23.60 meters to 88.50 meters (CuEq calculated using an 85% recovery rate based on assay results disclosed in the Company's news release dated August 7, 2024).
SLAM operates as a project generator and expects to receive significant cash and share consideration in 2025. Notably, on February 28, 2025 Slam received $9,000 in cash and 1,200,000 shares of Nine Mile Metals Inc. (CSE:NINE) pursuant to the Wedge project agreement. On March 29, 2025, the Company also received a cash payment of $60,000 and 180,000 shares of a private company pursuant to the Ramsay gold agreement. The Company retains net smelter return (NSR) royalties on both projects and expects additional cash and share payments.
To view SLAM's corporate presentation, click SXL-Presentation. Additional information is available on SLAM's website and on SEDAR+ at www.sedarplus.ca. Follow us on X @SLAMGold.
Qualifying Statements: Mike Taylor P.Geo, President and CEO of SLAM Exploration Ltd., is a qualified person as defined by National Instrument 43-101, and has approved the contents of this news release.
Forward-Looking Information:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements in this release, other than statements of historical fact, are forward-looking statements and include, but are not limited to, statements regarding: the Company's planned exploration activities; the anticipated results and interpretation of IP surveys; the receipt and timing of assay results; the potential for additional mineralized zones or depth extensions; the Company's expectations regarding future payments under option or royalty agreements; and the potential for future drilling programs.
Forward-looking statements are based on the beliefs, assumptions, and expectations of management as of the date of this release and involve a number of known and unknown risks, uncertainties, and other factors. These risks and uncertainties may cause actual results, performance, or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. These factors include, among others, risks related to exploration and development; the interpretation of exploration results; delays or failures in obtaining assay results; commodity prices; market conditions; regulatory approvals; availability of financing; and other risks detailed from time to time in the Company's filings with Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof.
Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additional information identifying risks and uncertainties is available in the Company's filings with Canadian securities regulators, which are available at www.sedarplus.ca.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
Mike Taylor, President & CEO
Contact: 506-623-8960
mike@slamexploration.com
Jimmy Gravel, Director
Contact: 902-273-2387
graveldevelopments@gmail.com
SEDAR+: 00012459E
SOURCE: SLAM Exploration Ltd.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/slam-ip-survey-identifies-deep-conductive-target-beneath-granges-and-logan-copper-1049988
