Slam Exploration Advances Moose Lake Project with Initial Drilling, Taps into Critical Mineral Potential

Fredericton, New Brunswick – Slam Exploration Ltd. has announced the completion of an initial diamond drilling program at its Moose Lake Gold-Antimony-Silver Project, located within the highly prospective Bathurst Mining Camp of New Brunswick, Canada. This early-stage exploration milestone, concluded on October 26, 2026, marks a significant step forward for the project, which aims to delineate a new source of critical minerals and precious metals in a region known for its rich geological endowment.

The drilling campaign comprised two NQ drill holes, designated ML26-01 and ML26-02, which collectively totaled 224.5 meters. These holes were strategically positioned to test anomalies beneath previously trenched areas that had yielded encouraging antimony mineralization. This recent drilling follows a systematic trenching and sampling program carried out across the Moose Lake and Skull occurrences earlier in 2026, which revealed compelling indications of metal enrichment.

Slam Exploration Advances Moose Lake Project with Initial Drilling

The core news from Slam Exploration centers on the recent drilling activity. The drill team, having concluded operations at the company’s Goodwin Copper-Nickel-Cobalt Project, was swiftly mobilized to the Moose Lake site. This tactical deployment underscores Slam’s methodical approach to exploration, efficiently transitioning resources between its diverse portfolio of projects.

The two NQ diameter drill holes, ML26-01 and ML26-02, were executed to a combined depth of 224.5 meters. The primary objective of this program was to investigate the subsurface extent and characteristics of the mineralization observed at surface during the earlier trenching phase. Initial visual inspections of the core samples provided encouraging signs, with geologists noting the presence of faulted, brecciated, and altered rocks. Crucially, visible occurrences of stibnite, pyrite, and arsenopyrite were observed. Stibnite, an antimony sulfide mineral, is particularly significant as it directly correlates with the project's antimony potential, while pyrite and arsenopyrite often act as indicators for hydrothermal gold systems.

Following the completion of drilling, a total of 145 samples were collected from the core for comprehensive laboratory analysis. These samples are currently undergoing geochemical assaying, with results eagerly anticipated by the company and the broader market. The pending assay results will provide critical data on the grades and distribution of gold, antimony, and silver, which will be instrumental in guiding future exploration decisions.

Unpacking the Moose Lake Fault Zone: A Target for Critical Minerals

The geological target for this latest drilling campaign was the Moose Lake Fault Zone, a prominent structural feature that extends over approximately 4.7 kilometers. This extensive fault zone is recognized for hosting several known antimony occurrences and represents a significant conduit for mineralizing fluids. Structural controls, such as fault zones, are often key to the emplacement of large-scale mineral deposits, making the Moose Lake Fault Zone a highly attractive exploration target.

The observation of brecciated and altered rocks within the drill core is consistent with a fault-controlled hydrothermal system, where hot, mineral-rich fluids circulate through fractured rock, depositing metals. The presence of visible stibnite, pyrite, and arsenopyrite corroborates the polymetallic nature of the mineralization, suggesting the potential for a complex deposit hosting both critical and precious metals.

As noted by Slam Exploration president and CEO, Jimmy Gravel, the Moose Lake Fault Zone is characterized by "known mineral occurrences that has seen little historical exploration or drilling." This statement highlights a key aspect of the project’s appeal: the potential for new discoveries in an underexplored segment of a well-established mining district. The Bathurst Mining Camp, historically renowned for its volcanogenic massive sulfide (VMS) deposits rich in base metals, also hosts various other mineralization styles, including gold-antimony systems. Discovering a new, significant polymetallic system within such a camp would add considerable value and diversity to New Brunswick’s mineral inventory.

Promising Trenching Results Pave the Way

The recent drilling program was initiated based on highly encouraging results from a trenching and sampling program conducted earlier in 2026. This surface exploration work focused on the Moose Lake and Skull occurrences, which are separated by approximately 3.5 kilometers along the extensive Moose Lake Fault Zone. The trenching involved excavating shallow cuts into the overburden to expose bedrock and obtain fresh, unweathered rock samples for analysis.

The trenching results from the Skull occurrence were particularly impressive, with samples returning antimony grades up to 3.73%. Importantly, these high antimony values were accompanied by significant precious metal credits, including 1.96 grams per tonne (g/t) gold and 73.5 g/t silver. Such high-grade intersections from surface sampling provide strong vectors for follow-up drilling, indicating robust mineralization at shallow depths.

At the Moose Lake occurrence itself, eight separate trench samples yielded antimony grades exceeding 0.5%. While individually lower than the peak values at Skull, the widespread nature of these anomalies over an extended area, along with CEO Jimmy Gravel’s comment that "we have antimony in trenches and outcrop over roughly 850m" at Moose Lake, suggests a substantial mineralized footprint.

A crucial insight gained from the trenching program was the identification of metal zoning. Slam Exploration reported that assay results from the trenching indicated the existence of distinct zones: areas rich in antimony, and other areas characterized by higher concentrations of gold and silver. This metal zoning is a common feature in many hydrothermal mineral deposits and can be a powerful guide for exploration, helping geologists vector towards the most prospective parts of a system. Understanding these patterns will be vital for optimizing future drill targets.

Strategic Context: Antimony's Rising Importance and the Bathurst Camp

The Moose Lake Project’s focus on gold, silver, and particularly antimony places it at the nexus of evolving global commodity markets. Antimony, often overlooked in favor of more prominent industrial metals, is increasingly recognized as a critical mineral by governments worldwide, including Canada and the United States. Its unique properties make it indispensable in a variety of high-tech and defense applications:

  • Flame Retardants: Antimony trioxide is a crucial synergist in halogenated flame retardants used in plastics, textiles, and electronics.
  • Alloys: It is used to harden lead and tin, finding applications in batteries, ammunition, and solder.
  • Energy Storage: New applications are emerging in advanced battery technologies, such as liquid metal batteries and sodium-ion batteries, which offer potential alternatives to lithium-ion chemistries.
  • Semiconductors: High-purity antimony is used in infrared detectors and diodes.

The global supply chain for antimony is currently dominated by China, which accounts for a significant portion of both mined production and refined metal. This concentration of supply presents geopolitical and economic vulnerabilities for consumer nations, driving efforts to secure diversified and domestic sources. Projects like Moose Lake, therefore, hold strategic importance for Western nations seeking to bolster their critical mineral supply chains.

Beyond antimony, the presence of gold and silver further enhances the project’s economic attractiveness. Gold remains a timeless safe-haven asset and a key component in jewelry and electronics, while silver serves both as an industrial metal with high electrical and thermal conductivity and a traditional store of value. The potential for a polymetallic deposit could provide robust economics, diversifying revenue streams and mitigating commodity price risks.

The Bathurst Mining Camp itself is one of Canada's most prolific mineral districts, with a rich history of base metal production. While famous for its VMS deposits, the camp's geological complexity means it is prospective for various mineralization styles. Slam Exploration’s focus on an underexplored fault system within this established camp represents a calculated approach to uncovering new value.

From Goodwin to Moose Lake: Slam's Multi-Project Approach

The logistical move of the drill team from the Goodwin Copper-Nickel-Cobalt Project to Moose Lake highlights Slam Exploration's active and agile exploration strategy. By sequentially deploying its drilling resources, the company can efficiently advance multiple projects within its portfolio. The Goodwin project itself is significant, targeting copper, nickel, and cobalt—metals that are fundamental to the global transition to green energy and electric vehicles. Successfully concluding work at Goodwin allows for focused attention and resources to be directed to Moose Lake, optimizing the company's overall exploration expenditure and timeline.

This systematic approach to exploration, moving from reconnaissance (trenching) to initial subsurface testing (drilling), is standard practice in the mining industry. It allows companies to gather progressively more detailed information about a mineral prospect, de-risking the project as it moves through the exploration pipeline.

The Path Forward: Follow-up and Future Potential

With the initial drill core now submitted for analysis, the immediate future for the Moose Lake Project hinges on the assay results. These results will dictate the next steps, but Slam Exploration has already outlined plans for follow-up drilling. This subsequent program will aim to further investigate the continuity of the observed mineralization along the Moose Lake Fault Zone and explore the identified metal zoning in greater detail.

Specifically, the company intends to target possible extensions to the southeast of the current drill areas, where additional antimony anomalies have been detected. This systematic approach of "walking out" the mineralization along strike and at depth is a critical component of successful resource delineation. CEO Jimmy Gravel's comments, emphasizing the high-grade antimony at Skull "sitting next to gold- and silver-rich quartz," suggest a compelling geological environment that warrants extensive follow-up. The early indications from both trenching and visual core examination suggest that Moose Lake could evolve into a significant polymetallic discovery within New Brunswick.

Slam Exploration acquired the 3,895-hectare Moose Lake Project under an option agreement signed in March 2026, demonstrating its strategic interest in the property. The timely execution of this initial drilling program, following quickly on the heels of promising surface work, underscores the company's commitment to aggressively exploring its assets and capitalizing on the growing demand for critical minerals and precious metals. As the mining industry continues to seek new domestic sources for strategic commodities, projects like Moose Lake will play an increasingly vital role in securing future supply.