SLAM Reports 1.60% Copper Equivalent Over 14.45 Meters in Hole GW26-33; Trenching Gold-Antimony Targets on Moose Lake Project
SLAM reports new copper-equivalent intercepts at Goodwin, advances Moose Lake trenching, and secures a C$60,000 grant for 2026 drilling.
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) reported a 14.45 m core interval grading 1.60% copper equivalent (Cu-Eq) in diamond drill hole GW26-33 on the Goodwin copper-nickel-cobalt project. The mineralized zone starts at 33.15 m downhole and includes higher-grade sub-intervals of 3.48% CuEq over 1.9 m and 2.61% CuEq over 4.9 m, located below the Granges zone. The company is awaiting assays from hole GW26-36, which intersected a broad mineralized zone from 124.4 to 191.8 m, 2,000 m northwest of the Logan zone.
Trenching has begun on the Moose Lake gold-antimony project, exposing the Skull zone over 250 m with eight trenches and tracing the Moose Lake zone over 500 m, with assays pending on 14 initial samples. SLAM has resumed drilling at Goodwin after a scheduled two-week maintenance break, completing 2,754 m of drilling at Goodwin and 554 m at Jake Lee in 2026, and has received a C$60,000 provincial grant to support the Goodwin drill campaign.
Positive
- GW26-33 intercept: 14.45 m grading 1.60% CuEq, including 3.48% CuEq over 1.9 m and 2.61% CuEq over 4.9 m
- New sulphide zone: broad mineralized interval from 124.4–191.8 m in GW26-36, 2,000 m northwest of the Logan zone (assays pending)
- Active 2026 drilling: 2,754 m completed at Goodwin plus 554 m at Jake Lee
- Sampling scale: 1,014 samples collected from the Goodwin project to date in 2026
- Government support: C$60,000 NBJMAP grant awarded for the 2026 Goodwin drill program
- Moose Lake surface work: Skull zone trenched over 250 m and Moose Lake zone traced over 500 m, with initial assays pending
Negative
- Hole GW26-35 abandoned at 44 m due to poor ground conditions, reducing planned drilling meterage
- Assay dependence: key intervals at GW26-36 and Moose Lake zones still pending laboratory results
Details
News Market Reaction – SXLXF
On Sep 17, the first trading day after this news, SXLXF closed 2.90% above the previous close. That session’s volume was 2.6x the stock’s average daily volume.
Data tracked by StockTitan Argus for the Sep 17 session.
Key Figures
- Copper equivalent grade
- 1.60% CuEq over 14.45 m
- Hole GW26-33 semi-massive zone
- Higher-grade interval
- 3.48% CuEq over 1.9 m
- Hole GW26-33
- Additional sub-zone
- 2.61% CuEq over 4.9 m
- Hole GW26-33
- Pending assay interval
- 124.4-191.8 m
- Hole GW26-36 mineralized zone; assays pending
- Skull trenching
- 8 trenches over 250 m
- Skull gold-antimony occurrence
- Moose Lake zone
- 500 m strike length
- Gold-antimony zone traced by the company
- Goodwin drilling completed
- 2,754 m
- 2026 drilling program
- Provincial drilling grant
- $60,000
- New Brunswick support for the 2026 Goodwin campaign
Historical Context
-
New sulphide discovery reported with assays pending and drilling resumption announced
-
Reported CuEq intercept alongside ongoing Goodwin drilling and assay submissions
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
copper equivalent technical
massive sulphides technical
epithermal quartz breccia technical
stibnite technical
arsenopyrite technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Original contained incorrect numerical values for silver ppm in table
14.45 meter intercept includes
MIRAMICHI, NB / ACCESS Newswire / September 16, 2026 / SLAM Exploration Ltd. (TSXV:SXL)(OTCQB:SXLXF) ("SLAM" or the "Company") is pleased to report a 14.45 meter ("m") core interval grading
Analytical results from Diamond Drill Hole GW26-33 include the following:
Cu Eq% values for GW26-33 are recovered grades calculated using a
Hole GW26-33 encountered the mineralized zone beginning at 33.15 core-meters from surface with initial 1.9 core-meter interval of mineralized zone grading
The Company is pleased with the results and is awaiting assay results from hole GW26-36 that intersected a broad mineralized zone from 124.4 to 191.8m hosted in a coarse-grained gabbro. The mineralized zone contains several massive sulphide intervals including 126.5-128.6m, 140.7-142.0m, 142.35-142.4m, 144.5-144.7m, 151.0-151.7m along with semi-massive zones at 157.0-158.0m, 165.4-166.3m. This new sulphide discovery is located 2,000 meters northwest of the Logan zone.
MOOSE LAKE GOLD-ANTIMONY PROJECT
The Company has begun trenching on the Moose Lake gold-antimony project with a series of trenches on the Skull gold antimony occurrence. The Company uncovered the Skull zone with 8 trenches over a strike length of 250 meters. After the Skull was uncovered, the excavator moved southeast to the Moose Lake gold-antimony occurrence. The Company has traced the Moose Lake gold antimony zone over a strike length of 500 meters. According to preliminary field observations, the Skull and Moose Lake zones are epithermal quartz breccia deposits with visible stibnite (antimony) and arsenopyrite mineralization. Assays are pending on the first batch of 14 samples collected from Skull and submitted to ALS in Moncton for Multi-Element-ICP and Gold Fire-Assay-AA. The Moose Lake zone is open in all directions and trenching continues.
SLAM RESUMES DRILLING AFTER SCHEDULED MAINTENANCE
SLAM has recently resumed drilling on the Goodwin Project after a scheduled two-week break for maintenance on the contractor's drill rig and associated equipment. The Company utilized this time to assess the current drilling results, and field reconnaissance of future drilling locations, accessibility, and drill pads.
The Company is currently testing an anomaly 200-meters north of GW26-33. To date, the 2026 drilling program has drilled 2,754 meters on the Goodwin Copper-Nickel-Cobalt Project along with an additional 554 meters on the Company's wholly owned Jake Lee Gold Project. A total of 1,014 samples has been collected from the Goodwin Project to date. In a May 27, 2026, news release, SLAM announced a 7,000-meter diamond drill contract for the 2026 Exploration season. The aim of the Company's Goodwin drilling program is to target anomalies identified from the 2026 VTEM Airborne Survey results. Each hole to date has successfully intercepted sulphide mineralization within the modelled plate anomalies save for hole GW26-35 that was abandoned due to poor ground conditions at 44-core-meters below ground surface. The Company is pleased with the results from the VTEM survey to date and have been able to identify numerous anomalous trends within the Project.
Figure 3 VTEM Aeromagnetic CVD - Copper-Nickel Occurrences
NBJMAP Grant Of
SLAM Exploration Ltd. has been awarded a grant of
Sampling and QA/QC Procedures
A total of 992 core samples has been collected from the 12 completed holes (GW26-26 through GW26-38, excluding the abandoned GW26-35) and submitted to ALS Chemex laboratory in Moncton for 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. Assay results will be reported in subsequent news releases as they are received.
About the Goodwin Project
The Goodwin copper-nickel-cobalt project covers 14,000 hectares (35,000 acres) in the mineral-rich Bathurst Mining Camp ("BMC") of New Brunswick, Canada. Background on the VTEM survey, target generation and the design of the current 7,000 meter program is set out in the Company's news releases dated June 1 and June 17, 2026. Significant historical intercepts on the property include a 64.90 meter core interval grading
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., 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.
Contact Information
Mike Taylor, President & CEO506-623-8960 · mike@slamexploration.com
Jimmy Gravel, Vice-President902-273-2387 · jimmy@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 the Goodwin copper-nickel-cobalt project; 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 details are provided about the mineralized intervals in hole GW26-36?
Hole GW26-36 cut a broad mineralized zone from 124.4 to 191.8 m within a coarse-grained gabbro. This interval includes several massive sulphide sections at 126.5–128.6 m, 140.7–142.0 m, 142.35–142.4 m, 144.5–144.7 m, and 151.0–151.7 m, plus semi-massive zones at 157.0–158.0 m and 165.4–166.3 m. Assay results for this hole are still pending.
What progress has SLAM made on the Moose Lake gold-antimony project?
On the Moose Lake gold-antimony project, SLAM has excavated 8 trenches on the Skull occurrence, exposing it over a 250 m strike length. The excavator then moved to the Moose Lake occurrence, where the zone has been traced over 500 m. Preliminary observations describe both Skull and Moose Lake as epithermal quartz breccia deposits with visible stibnite (antimony) and arsenopyrite. Assays are pending for an initial 14 samples from Skull submitted for multi-element ICP and gold fire assay.
How extensive is the 2026 drilling and sampling program at Goodwin so far?
For 2026, the Goodwin project has 2,754 m of drilling completed as part of a planned 7,000 m diamond drill contract. A total of 1,014 samples has been collected from Goodwin to date. Separately, 554 m of drilling has been completed on the Jake Lee gold project.
What quality assurance and control measures are in place for SLAM’s drill samples?
SLAM reports that a total of 992 core samples from 12 completed holes (GW26-26 to GW26-38, excluding abandoned GW26-35) were submitted to ALS Chemex in Moncton for multi-element analysis using ME-ICP41. Certified reference standards and blanks were inserted at regular intervals as quality control. Core was collected, labelled, sealed by field staff and stored securely at the company’s core logging facility in Bathurst.
What is the scope of the Goodwin project and its historical drill results?
The Goodwin copper-nickel-cobalt project covers about 14,000 hectares (35,000 acres) in the Bathurst Mining Camp of New Brunswick. Historical work includes hole GW24-02, which intersected a 64.90 m core interval grading 2.19% Cu-Eq, including 3.84% Cu-Eq over a 31.20 m interval, as previously reported by the company.
How is the C$60,000 grant being used by SLAM?
SLAM has been awarded a C$60,000 NBJMAP grant by the Province of New Brunswick to support the 2026 diamond drilling campaign on the Goodwin copper-nickel-cobalt project. The company indicates this is in recognition of Goodwin’s strategic mineral potential.