SLAM Exploration Intersects New Discovery of Massive Sulphide Mineralization at Goodwin Copper-Nickel-Cobalt Project
SLAM identifies a visual massive sulphide target located 2km from Logan, with assay results currently pending.
SLAM Exploration Ltd. (SXL) released a visual-only drill update for its Goodwin copper-nickel-cobalt project in the Bathurst Mining Camp, New Brunswick. Hole GW26-36, collared at an azimuth of 225 degrees and dipped at -80 degrees, intersected a 67.4-metre core interval from 124.4 m to 191.8 m characterized by sustained pyrrhotite-chalcopyrite mineralization hosting multiple discrete massive sulphide sub-intervals.
Key visual intervals reported for GW26-36 include massive sulphide at 126.5-128.6 m, 140.7-142.0 m, 142.35-142.4 m, 144.5-144.7 m, 151.0-151.7 m, and 166.3-167.5 m, with semi-massive sulphide at 157-158 m and 165.4-166.3 m. A shallow semi-massive interval was also logged at 12.4-12.75 m.
Hole GW26-37, drilled at a nominal -50 degree dip and completed to 286 m, cut a discrete massive sulphide interval at 162.5-162.9 m, predominantly pyrrhotite, within a broader disseminated envelope. Hole GW26-38, completed to 338 m, intersected a chalcopyrite-bearing interval at 158.2-160.2 m and a netted-texture pyrrhotite-chalcopyrite interval from 269.6 m to 272.8 m.
The release states that these observations are based solely on visual core logging and have not been confirmed by assay. True widths have not been determined. Drilling is paused for a scheduled two-week break and is expected to resume next week. A total of 992 core samples from 12 completed holes have been submitted for multi-element assay.
SLAM Exploration Ltd. (SXL) is a pre-resource, micro-cap grassroots explorer that reported cash of only CAD 310,791 at January 31, 2026, accompanied by a going-concern warning. The stock is trading near the bottom of its 52-week range at CAD 0.07.
The recent release serves as visual confirmation that sulphides exist 2 km northwest of the Logan zone in three holes, with assays still pending. It is not a new grade result. The most recent comparable release on August 14, 2026, already introduced GW26-36 as a new massive sulphide discovery and reported the GW26-29 assay of 24.60 m at 1.19% CuEq. The market barely moved on that news, with the stock remaining around CAD 0.06-0.07.
The historical anchor GW24-02 at 2.19% CuEq over 64.90 m is not priced into a stock at CAD 0.07. A visual-only release provides no measured grade-and-width substance to close that gap. The step-out distance is encouraging, but the release is still a drill progress update.
SLAM Exploration Ltd. operates as a project generator focused on New Brunswick, holding a portfolio of approximately 40,000 hectares centered on the Goodwin copper-nickel-cobalt project. Goodwin encompasses roughly 14,000 hectares within the Bathurst Mining Camp. The company also controls the Jake Lee gold project, where channel samples returned up to 40.5 g/t Au and 63.3 g/t Ag over 0.40 m, as well as the Menneval gold project, which features a large soil anomaly and historical high-grade gold intercepts.
Financial results for the fiscal year ended January 31, 2026, reported a net loss of CAD 406,397. The company held cash of CAD 310,791, with total assets of CAD 3.78M and total equity of CAD 3.35M. The management discussion and analysis flagged a going-concern risk, noting that continued operations depend on further financing or asset transactions.