Northwire Canada EditionSaturday, July 11, 2026
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GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0%
Production / Operations Routine +

SLAM Trenching New Gold Targets Near The No. 1 Gold Vein Discovery at Jake Lee

SLAM Exploration Trenches New Gold Targets at Jake Lee Amidst Dilution Concerns

By The Northwire Desk — AI Analysis Apr 16, 2026 · 07:23 SXL · 0.075 SLAM Exploration Ltd.
Executive Summary
  • SLAM Exploration Ltd. has launched its 2026 exploration campaign at the Jake Lee claims in New Brunswick.
  • The company is mobilizing an advance scout team and an excavator to test targets along strike from the No. 1 vein discovery.
  • Previous channel samples from the No. 1 vein yielded high-grade intercepts of up to 40.5 g/t gold and 63.3 g/t silver over 0.40 meters.
  • The campaign plans to follow initial scouting with a drilling program to test identified gold soil anomalies and airborne conductors.
  • Gold soil anomalies range up to 0.466 g/t gold, reported in March 2026.
  • Airborne conductors and aeromagnetic anomalies trend northeast of the No. 1 gold vein.
Material Impact
  • The news confirms execution of exploration plans following positive assay results released earlier in 2026 (January channel sampling and March soil sampling).
  • It does not introduce new assay data or resource estimates, serving primarily as an operational update on a known high-grade target.
  • Market reaction has been muted; the stock price remains near $0.08 despite recent financing and exploration success, suggesting investors are pricing in dilution risk rather than immediate value creation.
  • The acquisition of the Moose Lake antimony project (April 7) and OTCQB listing (April 1) were more significant catalysts recently, but this trenching news validates continued management focus on the Jake Lee asset.
  • Given the high-grade nature of previous intercepts, the potential for a resource upgrade exists, but tonnage remains undefined based on grab/channel samples alone.
SXL · Price
Company Overview
  • SLAM Exploration Ltd. focuses on building a diversified portfolio of precious and base-metal assets in New Brunswick's Bathurst Mining Camp.
  • Flagship Project 1: Goodwin Copper-Nickel-Cobalt Project (approx. 12,500 ha).
    • Drilling has returned intervals up to 64.90m @ 2.19% Cu-Eq including higher-grade zones.
    • VTEM and IP surveys are underway to define extensions of Granges, Farquharson, and Logan zones.
  • Flagship Project 2: Jake Lee Gold Project (Jake Lee claims).
    • Recent channel sampling returned up to 40.5 g/t Au over 0.40m intervals.
    • Soil anomalies cover large areas with gold values ranging from 0.005 g/t to 0.683 g/t Au.
  • Flagship Project 3: Menneval Gold Project (100% owned).
    • Historic core intercepts include 162.5 g/t Au over 0.2m and 3,955 g/t Au over 0.1m.
Read the original news release →

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Financings