Intersected 43 feet of 4.0% Cu and 204.4 g/t Ag
VANCOUVER, BC — July 17, 2020 — Bam Bam Resources Corp. (CSE: BBR / OTC: NPEZF / FSE: 4NPA) (“Bam Bam” or the “Company”) is pleased to report that core hole MHB-2 at the Majuba Hill Nevada flagship property has returned significant copper and silver values.
Starting from the surface MHB-2 intersected an outstanding interval of copper and silver. Using a length weighted average, MHB-2 returned extraordinary results:
• 146 feet from 0 to 146 feet @ 1.41% Cu and 97.6 ppm Ag including 28 feet from 12 to 40 feet @ 0.74% Cu and 120.8 ppm Agand 43 feet from 91 to 134 feet @ 4.0% Cu and 204.4 ppm Ag
The interval is the drill length, true width of mineralization is not yet known. It is comprised of 34 samples with 33 of the 34 samples greater than 0.05% copper.
The copper equivalent (“CuEq”) value for the drill interval with MHB-2 is:
• 146 feet from 0 to 146 feet @ 2.38% CuEq
Copper CuEq% was calculated by converting length weighted silver values to copper using USD$17/ounce silver and USD$2.50/lb. copper.
The hole also had 10 feet of good gold values with:
• 10 feet from 122 to 132 feet @ 1.283 ppm Au including 3.5 feet from 127 to 130.5 feet @ 2.33 ppm Au
David Greenway, President & CEO, commented: “I couldn’t be more excited about today’s release! A clear and present confirmation on what I feel Majuba will continue to deliver. These MIDWAY point results in our planned drill program are really just a taste of what this property is evolving into. We have drilled 2 core holes which have absolutely demonstrated that the key elements are present for a significant copper, silver, and gold porphyry property at Majuba. We fully expect our in-progress RC drilling at the Majuba Ridge Extension Zone will expand the known oxide zone. This dollars in the ground approach is bringing Majuba forward as another major copper, silver, and gold porphyry project in Nevada. We remain open on all sides and at depth with grade continuing to improve at depth.”
Significant Porphyry-Style Setting
The copper, silver, and gold mineralization occur in intrusive rocks with porphyry-style alteration. Three of the five intrusive assemblages at Majuba contain copper. Copper oxide mineralization at the surface is within the quartz-sericite-pyrite (QSP) zone. Surface geologic mapping and relogging of historic core holes has outlined alteration zonation, with a QSP zone that grades into a potassic zone. Oxidation at Majuba extends as deep as 800 feet. Significant sulfide copper mineralization has been drilled in historic drill hole MMX-24 at the QSP/Potassic boundary.
Hi-grade mineralization in MHB-2 occurs with chalcocite, azurite, and malachite. Cuprite has been identified in the historic drill core. This is similar to the high-grade mineralization mined in the historic underground workings in the Middle Adit.
The hole was drilled northeasterly to test for extensions of the mineralization outward from the historic workings.
MHB-2 also tested the contact between the late rhyolite porphyry and the early rhyolite intrusive assemblage rocks. Mineralization in hole MHB-1 was within the late rhyolite porphyry.
The 146-foot interval of 2.38% CuEq mineralization is in the early rhyolite porphyry. Silica stockwork veins with and without sericite are commonly associated with the copper and silver mineralization.
Reverse-circulation drilling will test the Majuba Oxide Extension Target Zone. The Zone extends over 1,000 feet eastward from the Known Oxide Copper Mineralization Zone to historic drill hole MG1703. Historic hole MG1703 intersected good grades of oxide copper. Copper, silver, and gold mineralization is strongest in the early rhyolite, felsite, and late rhyolite intrusive assemblages.
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.
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.