Well, with the increased volume over the last couple of trading days, I'm sure some investors new to SLAM have been checking out the board here. Here's a brief summary of some of SLAM's most prominent projects to help with your dd. Best wishes.
Nash Creek - company is currently in the middle of a 10 000m drill program here. SXL recently announced a new discovery on the property that corresponds to a 2000m X 500m geophysical and geochemical anomaly. The deposit is near surface. Significant assays to date from this new discovery include 4.6m of 5.5% zinc, 3.8% lead and 53g silver/tonne, as well as 26m of 2.5% zinc, 0.68% lead and 19 g silver per tonne. The discovery zone extends from the Nash Creek deposit where an NI 43-101 outlined resource exists of:
indicated 3.2 million tonnes 4.7% zn 0.8% pb 28g Ag
inferred 2.7 million tonnes 3.7% zn 0.8% pb 20g Ag
and within that resource, there's a high grade zone of:
indicated 1.6 million tonnes 6.5% zn 1.1% pb 37g Ag
inferred 0.7 million tonnes 6.4% zn 1% pb 28g Ag
SLAM recently announced flow through share financing to raise $2 million in addition to the 2.3 million in the bank. 3 institutions are purchasing the shares at $0.25 per share with a warrant exercisable at $0.50.
The company is a little over 1/2 way through the current drill program of 10 000 m which originally was to take until Dec. sometime; however brunt of this new financing is being used to drill an additional 100 holes (on top of the 10 000m program) on the Nash Creek property. In other words, we'll be drilling through the spring! Lots of results/assays to come over the next several months!
Other projects include:
Nepisiguit Project-drill assays from the spring returned 11.2m of approx. 6% zinc, 0.8% lead, 0.2% copper and 31g silver/tonne.
Hayden Brook- recently optioned to Geodex (50%) who will begin work shortly on the property (crews may already be there according to M.T.); grab samples of 4.54% zinc and 240g silver/tonne, as well as copper, lead and indium values; also boulder trail samples provided values up to 6.2% lead, 1.8% zinc, 0.5% copper and 96 g silver/tonne
Costigan - option to earn 100%; previous drill results of 7.5m of 7.1% zinc, 2.13% lead, 16.32 g silver/tonne
Lewis Brook - past drill results of 67.6 oz silver/ton
Jake Lee Gold Property - property acquired this past spring; boulder samples of up to 10 oz. gold / tonne
Ontario Gold Properties - in Fort Hope Gold Belt; include Cadman Lake, Keezhik Lake and Opikeigan Lake (cbs earning an interest) where past results yielded assays of over 1 oz gold / tonne; Mike Taylor recently stated work should begin in the near term
Posted by Mallgirl
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Mike Taylor discusses 2007 accomplishments and presents his outlook for SLAM in 2008.
