SLAM Reports Moose Lake Drilling Intersections; Assays Remain Pending
SLAM Exploration has completed two drill holes at its Moose Lake Gold-Antimony-Silver Project in New Brunswick, with visible stibnite reported in altered and brecciated rock. Assay results have not yet been received.
SLAM Exploration Ltd. (TSXV:SXL; OTCQB:SXLXF) has reported initial observations from two diamond drill holes at its Moose Lake Gold-Antimony-Silver Project in New Brunswick. The holes were drilled beneath antimony-bearing trenches along the Moose Lake Fault Zone, but laboratory assay results were still pending when the company issued its update on October 23, 2026.
Drill holes ML26-01 and ML26-02 covered 224.5 meters in total. SLAM collected 145 samples for multi-element analysis and gold testing by fire assay.
The company described the intersected material as altered and brecciated rock containing visible pyrite, arsenopyrite and stibnite. ML26-01 encountered this material from 5.0 meters through to the end of the hole at 77.0 meters. ML26-02 intersected similar mineralisation from 5.0 to 57.6 meters before continuing through heavily altered and brecciated rock to 147.5 meters.
Both holes were halted in highly broken ground while still within altered and brecciated rock. SLAM said ML26-02 ended in a brecciated quartz vein containing traces of pyrite and stibnite.
SLAM said results had been received for 61 grab samples from its 2026 trenching and prospecting work. The group included 47 samples from Moose Lake and 14 trench samples from Skull.
At Skull, three samples re-analysed for antimony returned 3.73%, 1.38% and 1.14% Sb. Selected trench results from the occurrence also included up to 1.965 g/t Au and 73.5 g/t Ag. The company said antimony was exposed in trenches and outcrop over roughly 850 meters at Moose Lake.
The Moose Lake and Skull trench areas are approximately 3.5 kilometers apart. Together with the Stewart occurrence, they form three known antimony occurrences distributed along approximately 4.7 kilometers of the Moose Lake Fault Zone.
The 3,895-hectare Moose Lake Project is located in the Bathurst Mining Camp. It covers the Skull, Moose Lake and Stewart epithermal gold-antimony occurrences, which are associated with a northwest-trending fault zone.
SLAM said the drill and trenching data will be assessed together to plan further work. The company intends to examine areas beneath the antimony and gold-silver trenches at Skull, continue testing the approximately 850-meter antimony-bearing breccia at Moose Lake and prioritise targets along the wider 4.7-kilometer trend, including Stewart.
These plans remain subject to the results of the pending assays. SLAM also said that its interpretation of continuity, metal zoning and other geological features is based partly on exploration observations and remains subject to the limitations and uncertainties of mineral exploration.
Grab samples are selective by nature and may not represent the mineralisation across the property. The company also cautioned that visible sulphide observations in drill core may not be confirmed by assay results.
The samples are being analysed by ALS Chemex laboratory in Moncton using multi-element analysis and gold assay by fire assay. SLAM said additional assay results will be reported as they are received.
SLAM Exploration Ltd. announced that its drill team had mobilized to the Moose Lake Gold-Antimony-Silver Project after completing the 2026 Goodwin Copper-Nickel-Cobalt drill campaign. The company reported drilling two NQ diamond drill holes beneath antimony-bearing trenches along the Moose Lake Fault Zone.
SLAM Exploration Ltd. announced the update on October 23, 2026. The announcement covers drilling and trenching work completed during 2026, with assay results from the Moose Lake drill holes still pending at the time of release.
SLAM Exploration Ltd. drilled two core holes, ML26-01 and ML26-02, for a total of 224.5 core meters. The company collected 145 samples for ICP-Multi element analysis and Gold Assay by Fire Assay.
SLAM Exploration Ltd. reported faulted and brecciated altered rock containing visible pyrite, arsenopyrite and stibnite. ML26-01 intersected this material from 5.0 meters to the end of the hole at 77.0 meters, while ML26-02 intersected similar mineralisation from 5.0 to 57.6 meters and continued through heavily altered and brecciated rock to 147.5 meters.
Both Moose Lake drill holes were stopped in highly broken ground while still in altered and brecciated rock. SLAM Exploration Ltd. said ML26-02 ended in a brecciated quartz vein with traces of pyrite and stibnite.
Assay results for ML26-01 and ML26-02 were pending when SLAM Exploration Ltd. issued the announcement. The samples are being analysed by ALS Chemex laboratory in Moncton using ME-ICP41 and Gold Assay by Fire Assay.
SLAM Exploration Ltd. reported results for 61 grab samples received to date, including 47 samples from Moose Lake and 14 trench samples from Skull. At Skull, three re-analysed samples returned 3.73%, 1.38% and 1.14% Sb, while selected results included up to 1.965 g/t Au and 73.5 g/t Ag.
SLAM Exploration Ltd. said antimony occurs in trenches and outcrop over roughly 850 meters at the Moose Lake occurrence. The Moose Lake and Skull trench areas are approximately 3.5 kilometers apart along the Moose Lake Fault Zone, which hosts three known antimony occurrences over approximately 4.7 kilometers.
The Moose Lake Project is a 3,895-hectare project in New Brunswick's Bathurst Mining Camp covering the Skull, Moose Lake and Stewart epithermal gold-antimony occurrences. SLAM Exploration Ltd. describes itself as a project generator with a portfolio of mineral claim holdings and NSR royalties.
President and CEO Jimmy Gravel said the initial observations show that the brecciated, altered and stibnite-bearing rock mapped in the trenches continues below surface. He also said both holes remained in altered breccia with sulphides from near surface to the bottom of the holes, while noting that assay results were still awaited.
SLAM Exploration Ltd. said assay results from ML26-01 and ML26-02 will be integrated with trenching results to guide follow-up drilling. The company plans to test beneath the high-grade antimony and gold-silver trenches at Skull, further test the approximately 850-meter antimony-bearing breccia at Moose Lake, and prioritise targets along the remainder of the 4.7-kilometer trend, including Stewart.
SLAM Exploration Ltd. cautioned that grab samples are selective by nature and may not be representative of the mineralisation hosted on the property. The company also stated that visual observations of sulphide mineralisation may not be confirmed by assay results and identified the speculative nature of mineral exploration and uncertainty regarding the continuity, grade and extent of mineralisation as risks.
SLAM Exploration Ltd. is listed on the TSXV under SXL and on the OTCQB under SXLXF.