SLAM Completes Goodwin Drill Program Highlighted by New Discovery 2,000 Meters Northwest of Logan Zone and 1.53% Cu-Eq Over 14.45 Meters; New Slam President Hosting Exhibit at the 2026 New Orleans Investment Conference (NOIC)
All 17 completed holes intersected sulphide mineralization, while 213 sample results remain pending.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
SLAM Exploration (SXLXF) completed its Goodwin drilling program, reporting a new sulphide discovery approximately 2,000 meters northwest of the Logan zone. The program drilled 3,350 core-meters across 19 holes; all 17 completed holes intersected sulphide mineralization. Two holes ended early because of poor ground conditions.
Highlights included 1.53% copper equivalent over 14.45 core-meters in GW26-33 and 0.76% over 41.30 core-meters in GW26-29. Discovery hole GW26-36 returned 0.44% over 43.10 core-meters. Copper equivalent combines copper, nickel and cobalt values using metal prices and an assumed 95% recovery. Results remain pending for 213 samples from GW26-37 through GW26-43. SLAM is integrating drilling with historical and geophysical data to plan follow-up exploration; the company considers the new discovery a potential lateral extension of Logan.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointGW26-33 returned 1.53% copper equivalent over 14.45 core-meters.
- Moderate pointGW26-36 discovery approximately 2,000 meters northwest of Logan returned 0.44% copper equivalent over 43.10 core-meters.
- Minor pointGW26-29 returned 0.76% copper equivalent over 41.30 core-meters, including 1.05% over 22.80 core-meters.
- Minor pointGW26-32 intersected three mineralized zones, including 0.32% copper equivalent over 48.00 core-meters.
- Minor pointGW26-27 returned 0.41% copper equivalent over 37.50 core-meters.
3 minor points
- Minor pointGW26-30 returned 0.19% copper equivalent over 72.00 core-meters.
- Minor pointCompleted drilling totaled 3,350 core-meters; all 17 completed holes intersected sulphide mineralization.
- Minor point. Forward-looking: it has not happened yet and may not happen.SLAM plans follow-up drilling to delineate the discovery and target a potential extension of Logan.
Negative
- Minor pointGW26-35A and GW26-35B were abandoned at 20 and 44 meters because of poor ground conditions.
- Minor pointAssays for 213 samples from GW26-37 through GW26-43 remain pending.
- Minor pointThe discovery's potential connection to Logan remains an initial interpretation, with geological analysis continuing.
- Minor pointGW26-28 and GW26-31 returned narrow, lower-grade values.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MIRAMICHI, NB / ACCESS Newswire / October 26, 2026 / SLAM Exploration Ltd. (TSXV:SXL)(OTCQB:SXLXF) ("SLAM" or the "Company") is pleased to announce significant results from its 2026 diamond drilling program on the Goodwin Copper-Nickel-Cobalt Project ("Goodwin" or the "Project") and to provide a recap of results received to date from holes GW26-26 through GW26-43.
Figure 1: Goodwin Project - GW26-29 containing mineralized zone consisting of
"Drilling around the Logan and Granges zones returned strong copper-nickel-cobalt intercepts, including 14.45 meters of
The table below highlights selected composited Cu-Eq
2026 Goodwin Drill Program Highlighted Composited Assay Results to Date for Cu-Eq at | |||||||
|---|---|---|---|---|---|---|---|
Hole | From (m) | To (m) | Length (m) | Cu % | Ni % | Co % | Cu-Eq |
GW26-27 | 37 | 74.5 | 37.50 | 0.168 | 0.154 | 0.034 | 0.41 |
including | 57 | 73.9 | 16.90 | 0.202 | 0.196 | 0.042 | 0.50 |
GW26-29 | 18.7 | 60 | 41.30 | 0.246 | 0.312 | 0.081 | 0.76 |
including | 18.7 | 48.55 | 29.85 | 0.310 | 0.394 | 0.101 | 0.96 |
including | 22 | 44.8 | 22.80 | 0.337 | 0.433 | 0.111 | 1.05 |
and | 57.9 | 60 | 2.10 | 0.339 | 0.428 | 0.114 | 1.05 |
GW26-30 | 119 | 191 | 72.00 | 0.092 | 0.052 | 0.020 | 0.19 |
including | 181.5 | 191 | 9.50 | 0.146 | 0.097 | 0.027 | 0.31 |
GW26-32 | 146 | 194 | 48.00 | 0.15 | 0.121 | 0.021 | 0.32 |
including | 156 | 191 | 35.00 | 0.160 | 0.132 | 0.023 | 0.35 |
GW26-32 | 240 | 250 | 10.00 | 0.139 | 0.133 | 0.044 | 0.38 |
GW26-32 | 284 | 310 | 26.00 | 0.072 | 0.081 | 0.035 | 0.24 |
GW26-33 | 33.15 | 47.6 | 14.45 | 0.663 | 0.717 | 0.059 | 1.54 |
including | 33.15 | 35.05 | 1.90 | 1.268 | 1.684 | 0.136 | 3.35 |
including | 42.7 | 47.6 | 4.90 | 1.061 | 1.182 | 0.099 | 2.52 |
GW26-36 | 125.9 | 169 | 43.10 | 0.136 | 0.203 | 0.041 | 0.44 |
including | 126.5 | 128.6 | 2.10 | 0.136 | 0.509 | 0.112 | 0.94 |
including | 134.3 | 142 | 7.70 | 0.258 | 0.334 | 0.064 | 0.76 |
including | 157 | 169 | 12.00 | 0.177 | 0.218 | 0.044 | 0.51 |
Cu-Eq calculated from Cu-Ni-Co on October 23, 2026, using metal prices from www.dailymetalprice.com. Lengths are core lengths; true widths have not yet been determined.
Cu-Eq
2026 Goodwin Drilling Highlights
- Hole GW26-33 returned the highest-grade intercept of the season: 14.45 core-meters grading
1.54% Cu-Eq95% (Cu-Eq) including 1.9 core-meters of3.35% Cu-Eq and 4.9 core-meters of2.52% Cu-Eq. - Hole GW26-29 intersected 41.3 core-meters grading
0.76% Cu-Eq, including 22.8 core-meters of1.05% Cu-Eq. - A new sulphide mineralization discovery in GW26-36 discussed below; located approximately 2,000 meters northwest of the Logan zone, returned 42.5 continuous core-meters grading
0.44% Cu-Eq including 7.7 core-meters of0.76% Cu-Eq as first reported on August 27, 2026. - Hole GW26-32 intersected three separate mineralized zones down to a hole depth of 310 meters, including 48.0 core-meters grading
0.32% Cu-Eq from 146-194 core-meters, and 10.0 core-meters of0.38% Cu-Eq outlined in the table above. - Hole GW26-27 returned 28.5 continuous core-meters grading
0.46% Cu-Eq95% , including 16.9 core-meters of0.50% Cu-Eq95% , - Hole GW26-30 intersected a broad 75.0 core-meter zone grading
0.19% Cu-Eq95% .
The Company drilled 19 NQ-sized diamond drill holes totaling 3,350 core-meters between June and October 5, 2026. The program tested conductors identified by the VTEM airborne survey flown over the Project in January 2026. All 17 completed holes intersected sulphide mineralization; holes GW26-35A and GW26-35B were terminated prematurely at 20 and 44 meters, respectively, due to poor ground conditions. Assays have been received for 857 of the 1,070 core samples collected, with results pending for the remaining 213 samples from holes GW26-37 through GW26-43.
Current Work / Interpretative Analysis
SLAM is carrying out a detailed 3-dimensional interpretive analysis of the Goodwin Lake Project, integrating the 2026 drill campaign with historical drilling and assays coupled with the previously obtained VTEM plate models, and geophysical and geological data from the property.
Initial findings suggest that the new sulphide discovery in drillhole GW26-36 potentially follows a linear strike trend between the new discovery and the Logan and Farquharson zones with the emerging interpretation being the new discovery has the potential to be a lateral extension of the Logan zone found approximately 2,000 meters southeast of the new discovery. GW26-36 intersected a broad mineralized zone from 124.4 to 191.8 meters in coarse-grained gabbro, containing several massive and semi-massive sulphide intervals consistent with Copper-Nickel-Cobalt mineralization associated with the Logan Zone. This includes a 43.1core-meter interval containing
The potential connection between the zones would significantly increase the strike potential of the copper-nickel-cobalt mineralization at Goodwin. Additional assays down-hole from GW26-36 are pending and interpretive geological analysis will continue as results are received. The Company will use this work to plan follow-up drilling across the ground further delineating the new discovery while targeting lateral extension of the Logan zone to the new sulphide discovery.
Figure 2: Goodwin Project - GW26-36 containing semi-massive to massive sulphides grading
Figure 3: Goodwin Project - Interpretative analysis of the Goodwin Project including current results from the 2026 Drilling Campaign.
Program Summary
Logan and Granges zones. Ten holes (GW26-27 to GW26-33 and GW26-41 to GW26-43) tested conductors in the vicinity of the Logan and Granges zones. Holes GW26-27, GW26-29, GW26-30, GW26-32 and GW26-33 returned the significant intercepts summarized above. Holes GW26-28 and GW26-31 intersected disseminated pyrrhotite with narrow, lower-grade values, and assays are pending for holes GW26-41 to GW26-43.
New Discovery area. Holes GW26-36 to GW26-40 tested the area approximately 2,000 meters northwest of the Logan zone. Following the discovery in GW26-36, drillhole GW26-37 intersected broadly disseminated mineralization with values up to
Other targets. Hole GW26-26, southeast of the Farquharson zone, and hole GW26-34, in the western part of the claim group, intersected gabbro with disseminated pyrrhotite and returned values up to
The location of the 2026 drill holes is shown on Figure 1 below, and collar details are provided in the following table.
Figure 4: Goodwin Project - 2026 Drill Hole Locations on Geology-Mineral Occurrences Base Map
2026 Goodwin Drill Hole Collar Information | ||||||
|---|---|---|---|---|---|---|
Hole | Easting (UTM Zone 19) | Northing (UTM Zone 19) | Elev. (m) | Azimuth (°) | Dip (°) | Length (m) |
GW26-26 | 699,469 | 5,237,581 | 460 | 55 | -50 | 200 |
GW26-27 | 697,310 | 5,239,345 | 393 | 215 | -60 | 110 |
GW26-28 | 697,180 | 5,239,410 | 395 | 360 | -45 | 163 |
GW26-29 | 697,385 | 5,239,268 | 395 | 120 | -80 | 137 |
GW26-30 | 697,670 | 5,238,943 | 439 | 150 | -70 | 221 |
GW26-31 | 697,463 | 5,239,210 | 405 | 130 | -80 | 201 |
GW26-32 | 697,852 | 5,238,964 | 426 | 220 | -60 | 317 |
GW26-33 | 697,210 | 5,238,879 | 456 | 333 | -55 | 233 |
GW26-34 | 693,457 | 5,237,999 | 474 | 225 | -80 | 183 |
GW26-35A | 692,797 | 5,237,837 | 602 | 20 | -80 | 20 |
GW26-35B | 692,798 | 5,237,836 | 602 | 20 | -80 | 44 |
GW26-36 | 695,878 | 5,240,721 | 408 | 225 | -80 | 212 |
GW26-37 | 695,925 | 5,240,635 | 408 | 40 | -50 | 286 |
GW26-38 | 695,855 | 5,240,065 | 380 | 220 | -50 | 338 |
GW26-39 | 695,792 | 5,241,088 | 415 | 225 | -80 | 110 |
GW26-40 | 695,524 | 5,240,288 | 380 | 220 | -60 | 131 |
GW26-41 | 697,182 | 5,239,297 | 411 | 133 | -85 | 101 |
GW26-42 | 697,080 | 5,239,200 | 410 | 40 | -80 | 179 |
GW26-43 | 697,295 | 5,239,145 | 410 | 40 | -50 | 164 |
Total | 3,350 | |||||
Coordinates are NAD83 UTM Zone 19, located by GPS. All holes are NQ core size.
Next Steps
The 2026 drilling program follows the 2025 campaign of 10 holes on the Granges, Logan, and Farquharson zones, highlighted by a 74.80 core-meter interval grading
Results for the remaining samples will be reported as they are received. The Company will then integrate the complete 2026 dataset with previous drilling, geophysical and geological work to update the interpretation of the Goodwin Project's mineralization trends and to define targets for the next phase of exploration. A detailed analysis is currently being undertaken to interpret mineralized trends from the recent drilling in conjunction with historical work completed on the property.
2026 New Orleans Investment Conference
SLAM is pleased to announce that the President and CEO, Jimmy Gravel will be attending and exhibit at the 2026 New Orleans Investment Conference, held October 28 to 31, 2026 at the Hilton New Orleans Riverside in New Orleans, Louisiana. Mr. Gravel will meet investors, analysts, and industry professionals at the Company's booth to discuss SLAM's exploration projects and recent success and progress in New Brunswick. Now in its 52nd year, the New Orleans Investment Conference is one of the longest-running investment events in North America focused on natural resources and precious metals. It gives junior exploration companies a strong platform to connect with a large community of retail and institutional investors.
The Company will also be exhibiting at the Exploration, Mining, and Petroleum (EMP) Conference at the Delta Hotel by Marriott in Fredericton between October 25 to 27, 2026. Mike Taylor, Chairman of the Board will also provide a company presentation on October 26th, 2026, at 11:48 discussing the recent drilling and exploration successes.
Sampling and QA/QC Procedures
A total of 1,186 core samples were collected from the 17 completed holes on the Goodwin Project (GW26-26 through GW26-43, excluding the abandoned GW26-35A and GW26-35B). After logging, samples were sawn using a diamond blade. Sawn half-core samples were numbered, collected in bags, tagged, and delivered to ALS Chemex laboratory (ALS) in Moncton. ALS will perform multi-element analysis using ME-ICP41. Quality control samples, comprising certified reference standards and blanks, were inserted at regular intervals in accordance with industry-standard protocols. All samples were collected, labelled and sealed by SLAM field personnel. Core is stored securely at the Company's core logging facility in Bathurst.
About SLAM Exploration Ltd.
SLAM Exploration Ltd. is a publicly listed resource company with a 40,000-hectare portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. The portfolio is built around the Goodwin Copper Nickel Cobalt project in the Bathurst Mining Camp ("BMC") of New Brunswick. The Company also holds the Jake Lee gold project, where a new gold vein discovered in 2025 has returned up to 40.5 g/t gold and 63.30 g/t silver from channel samples, and the Menneval gold project, where a soil anomaly measuring approximately 3,000 by 2,500 meters has returned gold-bearing samples up to 0.683 g/t gold.
SLAM is a project generator and expects to receive further cash and share payments in 2026. In 2025, the Company received 1,200,000 shares plus cash from Nine Mile Metals Inc. (NINE) pursuant to the Wedge project agreement, and a cash payment of
To view SLAM's corporate presentation, click here. Additional information is available on SLAM's website and on SEDAR+ at www.sedarplus.ca. Follow SLAM on X @SLAMGold, and join the Company newsletter here to receive timely company updates and news releases.
Qualifying Statement
Mike Taylor, P.Geo., Chairman of the Board of SLAM Exploration Ltd., is a qualified person as defined by National Instrument 43-101 and has approved the contents of this news release.
Contact Information
Jimmy Gravel, President & CEO
902-273-2387 · jimmy@slamexploration.com
Mike Taylor, Chairman of the Board
506-623-8960 · mike@slamexploration.com
SEDAR+: 00012459
Forward-Looking Statements
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking statements are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances, and are often identified by words such as "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "may," "could," "would," "might," or "will," and similar expressions.
Forward-looking statements in this news release include, but are not limited to, statements regarding: the exploration potential of various projects; the interpretation of geological, geochemical and geophysical data; the identification and prioritization of exploration targets; the anticipated receipt and significance of pending assay results; the continuity and extent of mineralized structures; the timing and scope of future exploration programs; the Company's ability to advance its mineral projects; and the potential for future exploration success.
Forward-looking statements are based on reasonable assumptions made by the Company as of the date of this news release, including that historical exploration results and publicly reported third-party mineral resources are relevant for regional and exploration context; that geological interpretations and targeting models are reasonable; that pending assay results will be received within anticipated timeframes; that planned exploration activities can be executed as expected; that contractors, equipment, personnel and supplies will be available on acceptable terms; that commodity prices and market conditions will remain generally supportive; and that required permits, approvals and access rights will be obtained in a timely manner.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied, including the speculative nature of mineral exploration; the risk that exploration results, including pending assay results, may not confirm historical data or current interpretations; uncertainty regarding the continuity, grade and extent of mineralization; delays or changes to exploration programs; availability and cost of labour, equipment and contractors; fluctuations in commodity prices; availability of financing on acceptable terms; regulatory, environmental and permitting risks; operating hazards; and general economic, market and business conditions. Additional risk factors are described in the Company's most recently filed Management's Discussion and Analysis and other continuous disclosure documents available under the Company's profile on SEDAR+.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: SLAM Exploration Ltd.
View the original press release on ACCESS Newswire
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did SLAM Exploration discover northwest of the Logan zone at Goodwin?
Hole GW26-36 identified sulphide mineralization approximately 2,000 meters northwest of Logan, returning 0.44% copper equivalent over 43.10 core-meters. SLAM considers the discovery a potential lateral extension of Logan, but that connection remains an interpretation under evaluation.
How does SLAM calculate copper-equivalent grades for the 2026 Goodwin drilling results?
The calculation combines copper, nickel and cobalt grades using an assumed 95% recovery and metal prices published October 23, 2026. Those prices are US$14,367.97/t for copper, US$15,240/t for nickel and US$39,345/t for cobalt. Silver and gold values are excluded.
Are SLAM's reported Goodwin drill intervals true mineralized widths?
No. The reported intervals are core lengths; true widths have not yet been determined.