SLAM stakes new cobalt project in Bathurst Mining Camp
VANCOUVER (miningweekly.com) – Base metals-focused project generator SLAM Exploration's shares jumped 50% on Friday after the junior announced that it had acquired a new cobalt exploration property in the Bathurst Mining Camp of New Brunswick through claim staking.
The Miramichi, New Brunswick-based explorer said it had staked 67 units in three mineral claims comprising 1 863 ha that cover a historic mineral discovery known as the Reids Gulch cobalt/nickel/copper/zinc occurrence.
The new property is located on a logging road about 40 km northwest of Trevali Mining’s Caribou mine.
SLAM said provincial records have indicated that previous workers found mineralised boulders grading 0.1% cobalt, 0.66% nickel, 0.1% copper and 5% zinc at Reids Gulch in 1972.
Four trenches were dug by hand but the source of mineralised float was not found. The occurrence is associated with an aeromagnetic anomaly detected by a later government survey.
The same survey suggests the presence of unmapped intrusive rocks at or near surface on the Reids Gulch property. There is no record of any other work in the vicinity of this occurrence, SLAM advised, but it intends to mobilise its advance scout team at the start of the 2018 field season to relocate this mineral occurrence and search for the bedrock source.
SLAM holds a net smelter return royalty on the Superjack, Nash Creek and Coulee zinc/lead/copper/silver properties and owns a portfolio of base metal and cobalt properties in the Bathurst Mining Camp.
The junior’s TSX-V-listed equity reached an intra-day high of C$0.06 a share on Friday.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation