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Nepisiguit

SLAM owns 100% of the Nepisiguit property, which comprises 78 claims covering 1770 hectares with a 6,500 m strike length of favourable strata. SLAM geologists believe the project may hold a mineable near-surface deposit with potential for near-term production. The property is accessible by hwy and nearby rail and sea.

Zinc-Copper-Lead-Silver

SLAM has completed 85 holes at Nepisiguit to date with 70 drilled during the 2011 program. Assays are still pending from the 2011 program, of which the primary objective has been to define an NI 43-101 compliant resource with a near-surface component ameniable to open-pit mining.

Assays returned thus far have included several strong results including near surface grades of 8.27% zinc and 79% gpt silver over 6 meters as well as 10.11% zinc and 33 gpt over 4.1 meters at depth.

Nepisiguit is located approximately 15 km southwest of the world-class BMS No. 12 mine operated by Xstrata.

 

Nepisiguit DDH Collars and Gravity Maps

SLAM’s 100% owned Nepisiquit deposit is a vent-proximal, volcanogenic massive sulphide deposit situated in the Bathurst Mining Camp in Northeastern New Brunswick. The Bathurst Mining Camp (BMC) is a world class massive sulphide district having produced more than 134 million tonnes of ore grading 7.82 % zinc, 3.05% lead, 0.46% copper, and 91.5 g/t silver. The property is 20 km west of the Brunswick No. 12 mine. The deposit sits along the Brunswick No.12 and Caribou mines horizon and is thought to have formed in the same marine sub-basin.

 

Aeromagnetics Nepisiguit – BMS No.12 Area

SLAM’s Nepisiguit property comprises 78 claims covering 1770 hectares of favourable volcanic stratigraphy. The property hosts the Nepisiguit A, B and C zones as well as the Swamp Lake copper occurance. The controlling structure is the Mud Lake synform which is well defined on aeromagnetic maps with a signature similar to that seen near BMS No. 12.

At the time of discovery in 1956, expectations were very high that Nepisiguit would produce another large mine similar to the nearby BMS No. 12. Fifty years later, after 85 holes drilled, SLAM geologists believe there is a high probability to prove up a mineable resource. The Nepisiguit A and B deposits consist of two subparallel, easterly thickening, massive sulphide lenses that strike east-northeast and dip about 80 degrees N. Drilling results indicate a continuous zone of significant mineralization over a strike length of 250 metres within Nepisiguit Zone A.

The massive sulphides at Nepisiguit A are dominated by pyrite with subordinate pyrrhotite, sphalerite, galena, and chalcopyrite. A 20 m thick sericite-chlorite-talc altered zone of tuffaceous sedimentary rocks cut by quartz-sulphide veins overlies these sulphides. Altered mineralized zones, cut by stringer sulphides suggest the presence of a feeder/stockwork zone at depth. Furthermore, sedimentary rocks indicate the development of basins, which can collect sufficient volumes of metalliferous brine to form large deposits.

 

 

Nepisiguit Zone A Selected Drilling Results
Hole	From	To	Metres	True Width	Zinc %	Lead %	Copper %	Silver g/t	Gold g/t
NP0601	80.15	82.15	2.00	1.92	5.69	2.47	0.77	117.5	0.57
NP0602	117.56	119.36	1.80	1.73	5.35	1.71	0.37	62.9	0.15
NP0603	143.97	147.82	3.85	3.74	6.49	2.04	0.16	48.4	0.20
NP0704	111.25	117.25	6.00	5.80	0.54	0.08	0.05	2.9	0.05
NP0705	154.40	155.40	1.00	0.97	6.79	0.09	0.20	13.0	0.21
NP0706	80.05	86.05	6.00	5.87	7.74	2.88	0.10	31.4	0.15
NP0707	131.36	135.51	4.15	4.07	3.72	0.59	0.23	32.9	0.25
NP0710	89.90	97.65	7.75	6.27	7.00	1.32	0.18	57.5	0.17
NP0710	89.90	93.65	3.75	3.03	10.58	2.34	0.20	91.8	0.23
NP0711	110.40	111.07	0.67	0.56	13.53	3.62	0.43	179.0	0.36
NP0711	132.23	135.91	3.68	3.09	7.53	1.66	0.12	69.0	0.15
NP0713	167.83	172.06	4.23	3.97	6.99	1.00	0.22	27.3	0.48
NP0714	84.15	86.95	2.80	2.47	5.47	1.31	0.27	58.8	0.27
NP0715	19.02	22.50	3.48	2.82	5.86	0.33	0.71	39.5	0.15
NP0715	29.48	40.70	11.22	9.08	6.09	0.81	0.21	31.3	0.09
NP0715	29.48	34.79	5.31	4.30	7.75	1.19	0.17	36.8	0.09
NP0715	53.16	59.24	6.08	4.92	3.43	1.38	0.10	39.7	0.17

 

Summary

Drilling results indicate the Nepisguit massive sulphide deposit is open at depth and along strike to the west. Further drilling is required.   The deposit is located about 20 km from BMS No. 12 mine and smelter.  A NI 43-101 resource calculation is underway.