Bam Bam Resources Corp. (CSE: BBR / OTC: NPEZF / FSE: 4NPB) (“Bam Bam” or the “Company”) is pleased to provide an update for the Majuba Hill Project in Pershing County Nevada. Core logging, sawing, and sampling for the Phase 2 deep sulfide program is in progress and 2591 feet (790 meters) have been submitted to ALS for analysis. The remaining 2329 feet (709.6 meters) is expected to be submitted by years’ end.
On-site, “quick-logging” was very encouraging and native copper was observed in the oxide zone intersected in hole MHB-9, as reported on November 23, 2020
MHB-9:980 ft (298.6 meters) Native Copper
MHB-9:986 ft (300.5 m) Copper on Fractures
Detailed logging of the sulfide zones intersected below the oxide in MHB-7 and 8, found up to 40% sulfides in intervals comprised of pyrite, pyrrhotite, chalcopyrite, and arsenopyrite. In MHB-8 phyllic alteration has variable amounts sericite and silica in intervals ranging from 80 to 400 feet (24.4-122 meters). The dominant sulfide through these intervals includes pyrite, and/or pyrrhotite and/or chalcopyrite. Calcite veining (+/- sericite, +/- gypsum/anhydrite) appears to be a late stage event. It occurs as veins and stockwork-veins. Several zones have chalcopyrite selvages. Intense silicification is prominent below 1200 feet (365.8 meters) with extensive multi-stage, quartz/tourmaline sulfide veins and stockwork.
MHB-8 was sited to test a high-chargeability anomaly identified from the historic 2007 IP-Resistivity survey carried out by Zonge International. Work completed by BBR prior to drilling, added additional in-fill lines using the same 300 meter dipole-dipole spacing. Sulfides were intersected at approximately 500 feet (152.4 meters) in hole MHB-8 and correlated very well with the high-sulfide chargeability zone interpreted from the IP data. The IP section for line 1 (2007) is rotated into the plane of the image as shown on the drill hole map. Due to drilling logistics MHB-8 was cut off at 1473 feet. The hole did not completely penetrate the IP chargeability high.
Drill Hole Map Showing IP Chargeability Section Line 1 in plane of Map
MHB-8: 694 feet (211.5 meters) Chalcopyrite, arsenopyrite, pyrite. Approximately 40% total sulfides.
MHB-8: 993-1003 feet (302.6-305.7 meters) Pyrite and pyrrhotite stockwork veining with cross-cutting silica-tourmaline veins and stockwork.
MHB-8: 1459 feet (444.7 meters) Chalcopyrite vein in magmatic intrusive-felsite breccia.
MHB-8: 1618 feet (493 meters) Fluidized hydrothermal breccia with large felsite fragments containing disseminated pyrrhotite.
MHB-7: 849.5 feet (258 meters) Molybdenum selvages on quartz/tourmaline vein.
In addition to the widespread occurrence of pyrite, pyrrhotite, chalcopyrite, and arsenopyrite as disseminations, stockworks, and cross-cutting veins, a quartz/tourmaline/molybdenum vein event has been observed in the core. Although it does not have the widespread distribution noted for the main sulfide types, the consistent presence in holes MHB-7 and MHB-9 plus the proximity to chalcopyrite in MHB-7 is very encouraging for the porphyry potential of the Majuba Hill Project.
MHB-7: 900 feet (274.3 meters) Chalcopyrite in quartz/tourmaline vein
David Greenway, President & CEO, commented: “I am looking forward to getting the assay results from the deep core drilling. When all the results are in from the 2020 drilling we expect a solid maiden resource from the new NI43-101 report.”
Expanded Property-Exploration Update
The tremendous interest in Nevada as a safe jurisdiction has slowed several aspects of the expanded exploration program at the Majuba Hill Project. In particular, turnaround times for ALS Minerals are longer than normal. Geophysical survey crews and soil geochemical crews also require longer lead times.
Bam Bam is pleased to report that the samples from the soil program completed on the privately held section 35 land are progressing through the ALS Minerals backlog and results are expected in early mid-January 2021.
The company is also very pleased to note that the expanded, drone-based Magnetic Survey is now firmly scheduled to be done in the first part of January 2021. Due to the extensive volume of sulfides in the Phase 2 deep sulfide holes the company has laid out an expanded deep IP program and is in the queue with Zonge to be able to complete this work as soon as possible in 2021.
Assay results from the deep core drilling are expected to be complete before the end of the first quarter of 2021.
Quality Assurance/Quality Control (“QA/QC”) Measures, Chain of Custody
The Company has implemented a QA/QC program using best industry practices at the Majuba Hill Project. Drill core is delivered by the company consulting geologist to the secure warehouse facility in Elko, Nevada. Drill core samples are sawn in half lengthwise and one half is placed in labeled cloth sample bags. The samples are then transported directly to the ALS Sample Prep Facility in Elko, Nevada. ALS then transports the prepared pulps to their analytical lab in Reno, Nevada or Vancouver, B.C. All samples are analyzed for copper, gold, silver, and 31 other elements. Gold is determined by ALS method Au-AA23 which is a fire assay with an AAS finish on a 30 gram split. Copper, silver and the remaining 31 elements are determined by ALS method ME-ICP61 which is a four acid digestion and ICP-AES assay. Approximately 5% of the submitted samples are copper-gold-porphyry commercial standard reference material pulps and core duplicates, which are inserted in the analytical sample sequence. The sample rejects and remaining pulps will be retrieved from ALS.
About Majuba Hill Property
The Majuba Hill Property is a large contiguous land position comprised of extensive mineral and surface rights held by private ownership, patented mining claims, and Federal Lode Mining claims that are 100% controlled by Bam Bam Resources Corp. The property is easily accessed via 23 miles of well-maintained dirt roads leading from U.S. Interstate 80.
The scientific and technical information contained in this news release has been reviewed by E.L. “Buster” Hunsaker III, CPG 8137, a non-independent consulting geologist who is a “Qualified Person” as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”).
About Bam Bam Resources Corp.
Bam Bam Resources Corp. (CSE: BBR / OTC: NPEZF / FSE: 4NPB) is engaged in the identification, review and acquisition of latter stage copper and copper/gold assets. The flagship project is the Majuba Hill copper gold project located 156 miles outside Reno, Nevada, USA. Management has been mandated to focus on safe, mining friendly jurisdictions and government regulations supportive of mining operations.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for
the adequacy or accuracy of this release.
On Behalf of the Board of Bam Bam Resources Corp.
David C. Greenway
President & CEO
For further information, please contact:
P: 1 (855) 475-0745
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Bam Bam Resources Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Bam Bam Resources Corp. management on the date the statements are made. Except as required by law, Bam Bam Resources Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.