12:53 PM EDT, 10/20/2020 (MT Newswires) -- SLAM Exploration (SXL.V) was up 28% after the company on Tuesday said uncovered 115 meters of a gold-bearing vein in a trenching program at its Menneval gold project in New Brunswick.

The company said the trenching program followed a vein, dubbed Vein 18, that supplied a sample that tested at 59.3 grams per tonne of gold.

"Visible gold was reported from 12 of 16 grab samples collected from vein No 18 over a strike length of 115m. This mineralized vein ranges from 0.04 to 0.12 m thick," it said in a release, adding that it has yet to receive assays on the 16 samples.

The company said its trenching program is ongoing and will be followed by drilling program.

SLAM shares were last seen up C$0.0225 to C$0.115 on the TSX Venture Exchange.

Price: 0.12, Change: +0.03, Percent Change: +33.33