Menneval

Since launching its initial diamond drilling program in December 2012 SLAM and had put down 64 diamond drill holes for a total of 2178 in 2 separate campaigns. The systematic drilling program traced the Maisie gold bearing vein system to a depth of 45 m. The trenching program had already established a strike length of at least 700 m. Drill setup locations were controlled with a grid at 40m line spacings as shown on the Drill Hole Location Map below. The set-up locations are shown with each hole location indicated by text. The target quartz vein trace is shown as a blue line. Selected high grade to bonanza grade gold-bearing sites discovered in the trenching program are shown as green diamonds. The typical drilling pattern has 3 holes drilled from each setup at angles of 45, 60 and 70 degrees respectively.

Gold-bearing quartz veins occur in 57 of the 64 holes over core intervals ranging from 0.1m up to 9.7 m. Visible gold was noted in 8 holes MG1201, MG1211, MG1221, MG1224, MG1225, MG1226, MG1352 and MG1363. Grades range up to 121.00 g/t gold over 0.31 m and 22.97 g/t gold over 1.9m.

The diamond drilling program followed up the highly successful trenching program that sourced the Maisie discovery boulders to bedrock. Subsequent trenching exposed a gold bearing quartz vein over 700 m strike length with numerous sites of visible gold and assays up to 1980 g/t gold shown as green diamonds on the map below. The selected gold values represent measured channel and chip samples as well as grab samples reported by news releases October 24 and November 14, 2012. Other highlights include an area of spectacular gold with chip samples ranging up to 1100 g/t gold over 1.1 m and channel samples up to 211 g/t gold over 0.5 m near the center of the vein on grid line L4480E.

The grid shown on the map has lines spaced 40 m apart and picket sites at 20 m intervals to provide detail control over the drilling.

SLAM made a new bonanza gold discovery on its wholly-owned Menneval claims in northwestern New Brunswick in the spring of 2012. Company geologists named this spectacular new discovery the “Maisie Zone”. Original grab samples from the discovery boulders range up to 118 g/t gold.

Other targets include Zone 9 where a series of trenches have unearthed a swarm of crosscutting quartz veins located 700 m south of the Maisie Zone. These veins are mineralized with minor limonite, goethite, hematite and pyrite similar to accessory minerals in the Maisie vein and range up to 1.2 m in thickness.

Trench Men12-11 uncovered quartz boulders with visible gold 2500 m east of the Maisie zone. These boulders are similar to the Maisie vein and the Company plans additional work to find their source.

SLAM's extensive claim holdings on the Menneval property are shown as the colored area on the aeromagnetic gradient map to the left. The property comprises 18 contiguous claims covering 30,820 hectares of favourable meta-sedimentary rocks. The pink and red background areas represent magnetic highs on this aeromagnetic map. New gold-bearing boulder occurrences are shown as as green diamond symbols.

Company geologists also found a quartz boulder grading 1.54 g/t gold that appears to represent a separate vein structure located 5800 m to the north.

The 3 green stars near the left side of the map represent skarn deposits drilled by previous workers in exploration programs dating back to 1965. The 3 zones have been tested by approximately 27 diamond drill holes for a total of 4850 m. The most significant intercept was 0.57% copper over 17.5 m drilled in 1973. Reported higher grade intercepts include 2.20% copper + 1.88 opt silver over 0.76 m and 8.86% copper + 4.15 opt silver over 0.6 m.

The photo below is a hand specimen of gold-bearing quartz from the Maisie zone with a close-up to the right showing visible gold. The photos are by Gary Tozer of Miramichi, NB.