VANCOUVER, BC — July 9, 2020 — Bam Bam Resources Corp. (CSE: BBR / OTC: NPEZF / FSE: 4NPA) (“Bam Bam” or the “Company”) is pleased to report that core hole MHB-1 at the Majuba Hill Nevada flagship property has returned significant copper and silver values.
Core hole MHB-1 and MHB-2 were drilled to expand a zone of oxide copper mineralization that Bam Bam identified during the evaluation of historical data and relogging of the historical core. The evaluation indicated the oxide copper mineralization should be present.
The following results from MHB-1 indicate the zone does continue. Using a length weighted average, the significant interval is:
74 feet from 210 to 284 feet @ 0.35% Cu and 10.2 ppm Ag
including 5 feet from 242 to 247 feet @ 1.26% Cu and 17.4 ppm Ag
and 2 feet from 257 to 259 feet @ 4.22% Cu and 103 ppm Ag
The interval is the drill length, true width of mineralization is not yet known. It is comprised of 17 samples with 16 of the 17 samples greater than 0.05% copper.
The copper equivalent value for the drill interval is 74 feet from 210 to 284 feet @ 0.45% Cueq. Copper equivalency was calculated by converting length weighted silver values to copper using USD$17/ounce silver and USD$2.50/lb. copper.
The high-grade copper values of 5 feet from 242 to 247 ft (1.03% Cu and 17.4 ppm) and 2 feet from 257 to 259 ft (4.2% Cu and 103 ppm Ag) are very similar to surrounding historic drilling assay values and reported historic mine production.
David Greenway, President & CEO, commented: “I am extremely pleased with the results from this first hole. We believe that the historic data shows the Majuba Project is highly likely to develop into a significant copper, silver, gold porphyry project. The advancement we made improving Majuba Hill is very encouraging. Our exploration approach is to put dollars in the ground by drilling and these outstanding copper and silver results support that process. I am looking forward to the results from Hole MHB-2 as well.”
The current phase one drilling program is for two core holes (completed) in the zone of oxide mineralization followed by three or four reverse-circulation holes to test the Majuba Extension Zone. Cross section 4502961N shows the association of the known oxide copper mineralization, the Extension Zone, and the deep sulfide mineralization.
In MHB-1 the 74-foot interval of 0.45% Cu equivalent mineralization is in the zone of known oxide mineralization which was historically mined for copper and silver. The intersection from 210 to 284 feet shows that the oxidized copper porphyry-style mineralization occurs above the historic mining.
Drill hole MHB-2 was drilled towards the northeast at a -45° inclination, to test for extensions of the mineralization outward from the historic workings.
Reverse-circulation is permitted, and pad construction is in progress for drill testing the Majuba Oxide Extension Target Zone. The Zone extends over 1,000 feet eastward from the Oxide Copper Mineralization Zone to historic drill hole MG1703. Historic hole MG1703 intersected good grades of oxide copper.
The most significant interval also included chalcocite and had a length-weighted average of:
66.9 feet from 337.7 to 404.6 feet @ 0.71% Cu and 28.9 ppm Ag
including 4.3 feet from 337.7 to 342 feet @ 3.64% Cu and 151.7 ppm Ag
and 5 feet from 342 to 347.7 feet @ 2.78% Cu and 115.2 ppm Ag
The interval is the drill length, true width of mineralization is not yet known. It is comprised of nine (9) samples with all nine greater than 0.05% copper.
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, which are inserted in the analytical sample sequence. The sample rejects and remaining pulps will be retrieved from ALS.
The Company also announces that the Board of Directors has granted a total of 2,000,000 stock options (the “Options”) to directors, officers and consultants of the Company. The Options are exercisable until July 8, 2022 at a price of $0.09 per share.
About Majuba Hill Property
The Majuba Hill Property encompasses 4,822 acres of surface and mineral rights that includes 3 patented lode mining claims and 632 acres of privately-owned surface and minerals. 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: 4NPA) 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: (604) 318-0114
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.