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SLAM Exploration Secures Gold Claim Near Jake Lee Project
SLAM Exploration Ltd. (TSXV:SXL) announced the acquisition of mineral rights for the 2640-hectare Love Lake gold claim. This new claim is adjacent to the company's Jake Lee gold project. Notably, the Love Lake site has quartz float with gold grades reaching up to 302.5 grams per tonne. Previously, SLAM reported quartz float on Jake Lee grading up to 39.3 g/t gold.
The Love Lake agreement with Grindstone Resources Inc. allows SLAM to acquire an 80% stake by fulfilling specific work and financial commitments over four years. These include expenditures totaling $1,675,000 and cash payments of $350,000.
Exploration efforts will target gold-bearing soil anomalies and further verify geological similarities with the nearby Clarence Stream Deposit. SLAM aims to commence fieldwork on both sites once weather conditions allow.
R. P.
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