SLAM Exploration Ltd. (TSXV: SXL | OTCQB: SXLXF) has drilled its first two holes at the Moose Lake gold-antimony-silver project in New Brunswick, intersecting broad zones of brecciated and altered rock carrying visible stibnite along the Moose Lake Fault Zone. The company announced the work on October 23, 2026, after moving its drill team from the completed Goodwin copper-nickel-cobalt campaign to Moose Lake, in the Bathurst Mining Camp.
First holes test the fault zone at depth
Holes ML26-01 and ML26-02 total 224.5 metres of NQ diamond drilling, collared near previously trenched areas exposing mineralized breccia. ML26-01, drilled to 77.0 metres, intersected brecciated, fractured and altered rock with visible pyrite, arsenopyrite and stibnite from 5.0 metres to the end of the hole, including a fault zone with clay gouge and graphite between 25.0 and 32.3 metres.
ML26-02, drilled to 147.5 metres, intersected strongly brecciated, clay- and sericite-altered rock with pyrite, arsenopyrite and stibnite from 5.0 to 57.6 metres, including strong silicification and quartz flooding from 51.4 to 57.6 metres, and continued in altered breccia to the end of the hole. Both holes were stopped in highly broken ground while still in altered breccia; ML26-02 ended in a brecciated quartz vein with traces of pyrite and stibnite.
SLAM has collected 145 samples for multi-element analysis and gold fire assay at ALS Chemex in Moncton. Assays are pending, so the drilling confirms the altered rock’s style and continuity at depth, not yet its grades.
Trench results behind the drilling
The drilling follows a 2026 trenching program that returned results for 61 grab samples: 47 from Moose Lake and 14 from Skull. At Moose Lake, antimony-bearing breccia has been traced in trenches and outcrop over roughly 850 metres, with eight samples above 0.5% antimony.
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At Skull, three samples re-analyzed by the Sb-ICP08 method returned 3.73%, 1.38% and 1.14% antimony. Separate Skull trench samples returned up to 1.965 grams per tonne gold and up to 73.5 grams per tonne silver, sitting roughly 150 to 230 metres from the antimony-rich samples — a separation SLAM interprets as possible metal zoning to be tested by further work. Grab samples are selective by nature and may not be representative of the property’s mineralization.
A 4.7-kilometre fault trend, and what comes next
The Moose Lake project covers 3,895 hectares and hosts three epithermal gold-antimony occurrences — Skull, Moose Lake and Stewart — spread along about 4.7 kilometres of the Moose Lake Fault Zone. The Skull and Moose Lake trench areas sit about 3.5 kilometres apart.
President and CEO Jimmy Gravel said the drilling shows the brecciated, altered and stibnite-bearing rock mapped in the trenches carries on below surface, adding: “Antimony is a critical mineral.”
Next, SLAM will integrate the pending drill assays with the trenching results to guide follow-up drilling beneath the Skull trenches, further testing of the 850-metre Moose Lake breccia, and targets along the rest of the fault trend, including Stewart.
Source: SLAM Exploration Ltd. news release, October 23, 2026.
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