SLAM Reports 1.19% Copper Equivalent Over 24.6 Metres in Hole GW26-29 From the Goodwin Copper-Nickel-Cobalt Project
Slam’s first 2026 assay results at Goodwin undershot the 2024 anchor grade, marking a decline in mineralisation quality at the deposit.
SLAM Exploration Ltd. (SXL) has released the first assay results from its 2026 drilling program at the Goodwin project, specifically from hole GW26-29. Located 100 meters southeast of hole GW25-15 on the Logan Zone, GW26-29 returned significant copper-equivalent intercepts. The company reported an interval of 20.20 to 44.80 meters grading 24.60 meters at 1.19% Cu-Eq, comprising 0.33% Cu, 0.43% Ni, and 0.11% Co. Additional intercepts included 1.75 meters at 1.16% Cu-Eq from 46.80 to 48.55 meters, and 2.10 meters at 1.21% Cu-Eq from 57.90 to 60.00 meters.
To date, SLAM has drilled 12 holes totaling 2,600 meters, representing approximately 37% of the planned 7,000-meter program. The company has submitted 992 samples for analysis. While only the assays for GW26-29 are currently reported, all other drilled holes have logged sulphide intervals with assays pending.
In addition to the Logan Zone results, SLAM announced a new massive-sulphide discovery in hole GW26-36, located 2,000 meters northwest of the Logan Zone. Visual massive sulphide intervals were logged from 124.4 to 191.8 meters in this hole, though assay results are not yet available. The company also reported receiving a $60,000 grant from New Brunswick.
SLAM Exploration Ltd. (SXL) is a pre-resource junior explorer with no revenue and a going-concern flag. The company’s first 2026 assay fell below its own 2024 anchor and did not confirm high-grade massive sulphide continuity. The stock has already round-tripped from a 52-week high of $0.14 to $0.06, indicating the market is not pricing for a major discovery.
A new visual discovery located 2,000 m northwest remains a wildcard, as it has no grades and cannot be valued yet.
SLAM Exploration Ltd. is a Canadian junior explorer listed on the TSXV and OTCQB under the ticker SXL. The company operates as a project generator with a land portfolio in New Brunswick, reported as roughly 40,000-54,000 ha depending on source. Its flagship asset is the Goodwin copper-nickel-cobalt project, comprising 14,000 ha in the Bathurst Mining Camp. Other assets include the Jake Lee gold, Menneval gold, Mine Road copper-zinc, Harry Brook gold-antimony, and Moose Lake antimony projects, along with NSR royalties.
Financially, the company reported a FY2026 net loss of $406,397. Cash at January 31, 2026 was $310,791, and a post-year placement raised about $2.07 million. The company has no operating revenue and depends on exploration success, option sales, royalties, and equity financing.