SLAM's Year In Review
posted on
Jan 06, 2008 01:53PM
Gold and Base Metal Projects (Ontario and New Brunswick)
Jan. 17 - SLAM announces intersection of massive sulphides in all 3 holes to date at Nepisiguit.
Feb. 1 - SLAM arranges a $2 million financing, taking some of us by surprise...just as the stock seemed to be starting a run.
Feb. 20 - First 3 holes at Nepisiguit report strong base metal values, including NP 07-03 with 6.5% zinc, 2% lead, 0.2% copper and 48g silver/tonne over 3.85 m
March 14 - $2 million financing is completed
April 16 - SLAM acquires, through staking, the Jake Lee gold property where past sampling has returned boulder samples up to 10 oz. gold/tonne, as well as anomalous stream sed. and soil geochem. samples. The anomalous samples cover a linear area of approx. 5 km in length - adding a whole new meaning to the term, "yellow brick road". There's so much darned gold, the co. is unsure where to start exploring, and it sits dormant to date!
May 8 - 4 more holes reported from Nepisiguit, all reporting strong base metal values incl. hole NP 07-06 with 6 m of 7.7% zinc, 2,9% lead, 0.1% copper and 31 g silver / tonne
May 16 - Same old, same old...4 more holes reported from Nepisiguit, again all with highly anomalous intersections including NP 07 - 10 with 7.75 m of 7% zinc, 1.3% lead, 0.18% copper and 58 g silver / tonne.
June 14 - the final holes reported from Nepisiguit including NP 07 - 15 with 11.2 m of 6.1% zinc, 0.8 % lead, 0.2% copper and 31 g silver / tonne. SXL shares actually drop a penny and a half as investors question how to pronounce "Nepisiguit". Others think it's some form of mythical creature similar to Sasquatch!
July 10 - SLAM releases updated Nash resource of:
indicated resources: 3.24 million tonnes
inferred resources: 2.69 million tonnes
and within this, a high grade zone of: 1.57 million tonnes of 6.53% zinc, 1.08% lead and 37.4 g silver / tonne (indicated) with an inferred resource of 0.69 million tonnes of 6.4% zinc, 0.97% lead and 28.1 g silver / tonne
Aug. 10 - options 50% of Hayden Brook property to GEODEX
Sept. 10 - SLAM announces discovery of near surface, flat lying zone with open pit potential on Nash Creek property. 24 0f 39 holes encountered the zone that's associated with geochem. and geophysical anomalies that are 2000 m long and 500 m wide. Intersections are up to 18 m in thickness with metal values up to 6.7% zinc, 2.6% lead and 22 g silver / tonne
Sept. 25 - further drill results released from the new discovery zone incl. NC 07-55 with 6.67% zinc, 2.6% lead and 1.28 ozs. silver / tonne over 11.75 m
Oct. 3 - Further holes released with intersections as wide as 27 m; NC 07-49 returns 27 m of 2.24% zinc, 0.68 % lead and 19.16 g silver / tonne; NC 07-51 returns 26 m of 2.51% zinc, 0.4% lead and 16.63 g silver / tonne
Nov. 20 - NC 07-55 returns 32 m of 2.98% zinc, 1.58% lead and 32.58g silver / tonne
Nov. 28 - SLAM completes $2 million financing; funds are to be used to drill an additional 100 holes on Nash; New Brunswick government expresses concern that the province may sink with all of the holes that SLAM is drilling into Nash Creek
Nov. 29 - further holes released from Nash including NC 07-68 with 41 m (yes 41m...over 100 ft. for those that are "imperialists") of 2.21% zinc, 1.84% lead and 24.27 g silver / tonne. How thick do these intersections need to be before the stock actually responds???
Dec. 27 - SXL completes an additional $1 million financing in addition to previously announced $2 million financing
And I guess, that was it! Please excuse my "editorial liberties" taken.
Anyway, New Year is also a time for predictions, but I'll leave that up to others. What will Opikeigan and Jake Lee turn up? How large will the Nash Creek resource expand? 12 million tonnes? 15 million tonnes? More? What surprises will be within those extra 100 holes pulled from Nash Creek? Will we see further holes and impressive results from Nepisiguit? When will the feasibility study get underway? What will the recommendations from it be? Is production in the foreseeable future (e.g. '09?)? Oh, the stock price? What targets will we reach in '08?
If only a few of these questions get answered in '08, then it should prove to be as busy and as exciting a year as '07 proved to be!
Anyway, Have a great week everyone! Take care!