Slam Exploration Stock Price, News & Analysis

SLAM Exploration Ltd. has commenced its 2023 gold exploration program on the Jake Lee project in New Brunswick, aiming to test areas with high gold grades discovered in 2022. The program includes prospecting and trenching, targeting gold-bearing boulders with grades up to 39.300 g/t. SLAM has signed a 12-month marketing contract with Stockhouse for C$62,000 to boost awareness among smallcap investors. The Jake Lee project spans 9,508 hectares and features six claims, with five wholly owned by SLAM. The company is focusing on increasing shareholder communication and has adequate funding for its exploration activities after raising C$76,500 in December financing. The firm also has plans for continued exploration across multiple projects in New Brunswick and Ontario.

SLAM Exploration Ltd. announced plans to launch a gold program at its wholly-owned Jake Lee project in New Brunswick, following the acquisition of necessary permits. The project includes trenching and potential diamond drilling, targeting high-grade gold boulders.

The company also revealed its financial position, holding NSR royalties on eight projects and potential cash and share payments totaling $1,670,000 and $454,000 over the next four years. Additionally, SLAM intends to raise $450,000 through a private placement to support exploration activities. The future of the company's gold and base metal projects depends on exploration results and market conditions.

SLAM Exploration Ltd. has announced the acquisition of the Highway Gold Project by staking mineral claims in New Brunswick, covering significant mineral occurrences. The project is strategically located near the Clarence Stream gold deposit, which is estimated to hold a 2.3 million ounce gold resource. CEO Mike Taylor will present on the company's gold projects at PDAC on March 7, 2023. The company is also involved in agreements with Nine Mile Metals and QNB Metals, facilitating opportunities for additional cash and shares while retaining NSR royalties. SLAM is set to launch exploration programs this year, anticipating further developments in its gold projects.

SLAM Exploration Ltd. announced new gold discoveries at its Jake Lee gold project in New Brunswick, featuring additional gold-bearing float samples with grades of 3.390 g/t and 2.420 g/t. These findings complement the previously reported 39.300 g/t gold boulder. In total, 31 samples from 186 submitted were analyzed, revealing gold concentrations between 0.0100 and 0.661 g/t. The company has plans for further testing through trenching after weather permits. Additionally, SLAM signed a deal with QNB Metals Inc. for the Goodwin Lake project, potentially enhancing their financial position by receiving shares and cash over four years.

SLAM Exploration Ltd. has completed a diamond drilling program at its wholly-owned Menneval gold project in New Brunswick, yielding significant gold results. Core intervals showed gold grades reaching 56.9 g/t over 0.5 meters. In total, four out of five holes on the No 18 vein contained gold-bearing intervals, with notable grades from 0.09 g/t to 56.90 g/t. Additionally, five of six holes on the Maisie vein also reported gold, with the company considering a follow-up program. The project has received a $30,000 grant under the NBJMAP.