Bam Bam Resources Corp: Drone Magnetic Survey Outlines Large Intrusive Complex at Majuba Hill Porphyry District
Vancouver, May 12, 2021 - Bam Bam Resources Corp. (CSE: BBR) (OTC Pink: NPEZF) (FSE: 4NPB) ("Bam Bam" or the "Company") is pleased to announce that a property-wide, 322 line-km drone magnetic survey was completed by Zonge International, Inc. at the Majuba Hill Porphyry Copper Project in Pershing County, Nevada. James Wright provided advice, project oversight, and interpretation for the program.
Figure 1
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The 2020 drone results were merged with the 2018 ground magnetic survey. Wright commented: "… the extended coverage reveals an intriguing extension of the intrusions magnetic signature." The combined magnetic survey shows that the Tertiary Intrusive Assemblage at Majuba Hill is at least 2.5 times larger than the geologic mapping indicated. The much larger extent shown by the positive magnetic response is consistent with the 2020 drilling and exploration by Bam Bam (NR December 23, 2020 and February 23, 2021).
The 2021 drone survey collected 196,532 readings on east-west lines spaced 150 meters apart. Flight elevations were at an average magnetometer elevation of 43.0 meters above the ground, providing the opportunity to merge the drone results with the 2018 ground magnetic survey covering the central portion of the property.
David Greenway, President and CEO of Bam Bam, commented: "The size of the Tertiary Intrusive is extremely encouraging. We recognized that Majuba Hill had characteristics showing the scale of the intrusive was much larger than was historically known. The widespread copper and the extensive copper-porphyry indicators all gave me confidence as we proceeded with our staged-exploration program. The drone magnetic results confirm our expectations. It is incredibly positive for Bam Bam to be able to operate in a Tier 1 jurisdiction and get these positive results."
Magnetic Interpretation
This large Mag IP footprint means that most of the exploration data is far inside the margins of the Tertiary Intrusive and the Majuba Hill Intrusive Complex.
Figure 2
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Wright's 2021 report provides a qualitative magnetic interpretation defining a large, prominent intrusive complex, which is centered on the company's Majuba Hill Property. By utilizing the total magnetic intensity (TMI) data, reduced to pole (RTP) data, and reduced to pole-residual (RTP-RES) data he has outlined the large footprint encompassing the copper-bearing portions of the Majuba Hill Tertiary Intrusive Assemblage.
The large Majuba Hill Intrusive Complex can be subdivided into three zones which appear to be part of a continuum related to a large magma-chamber below.
- The "Ti1" zone has a distinct, positive magnetic signature. Porphyry-style pyrite, pyrrhotite, chalcopyrite, and arsenopyrite associated with quartz-sericite-pyrite (phyllic) and possible potassic alteration was logged in the recent deep core holes drilled within the Ti1 zone.
- The "Ti2" zone forms a more subdued response within Ti1 that is likely related to silica alteration which has been attributed to a phyllic alteration zone that outcrops on the top of Majuba Mountain.
- The "KTi" zone consists primarily of the surrounding granitic intrusive rocks with a remanent magnetic signature. The remanent signature is distinctly different from the regional granite intrusive units.
Peripheral dikes, and faults have distinct orientations with some of the zones also showing a remanent magnetic signature.
Correlation of Drilling Results
Bam Bam is currently exploring the known Oxide Mineralization, Majuba Extension, and Sulfide Zones. They lay well within the Ti1 magnetic zone. Drone mag results indicate that these zones are much larger than the Company had envisioned. Recent and historic drilling has been limited to a small portion of the Ti1 zone. Historic underground mining and drilling outlined the known oxide copper and silver mineralization along the southern margin of the Ti2 zone at Majuba Hill. Within the known oxide and extension zone Bam Bam drilled hole MHB-2, which returned:
146 feet (44.5m) of 1.41% Cu and 97.6 ppm Ag from 0 to 146 feet (0-44.5m)
Bam Bam RC drill holes MHB-3, 4, 5 and 6 results give strong evidence that the known Oxide Mineralization and Extension Zone is a single zone with good economic potential. Modeling of the oxide copper and zones of secondary enrichment is currently in-progress for an NI43-101 update. This zone occurs along the southern margin of the Ti2 magnetic zone. Over 70% of the margin of the Ti2 zone is untested.
Correlation of Geochemistry Results
Soil geochemical grids do not yet completely cover the Ti1 zone.
The Ti1 zone covers approximately 2 square miles (5 sq km). It contains all the historically reported copper mining and the majority of the silver mining. This zone also includes several large, multi-sample, continuous, greater than 100 ppm copper in soil anomalies.
Figure 3
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The Ti1 zone also contains several large, multi-sample, continuous, greater than 1 g/t silver in soil anomalies.
Figure 4
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Over 1 g/t silver is also associated with dike/fault zones cutting the Ti1 intrusive assemblage. Multi-sample, continuous, greater than 1 g/t silver soil anomalies are also coincident with 50-100 ppm copper, anomalous gold, anomalous zinc, and anomalous molybdenum on dike/fault zones up to 2 miles (3.2 km) from the center of the Majuba Hill Intrusive Complex (Bam Bam News Release dated February 23, 2021).
Additional soil sampling, rock geochemical sampling, and SWIR sampling is planned during 2021.
Correlation of Drilling Results Induced Polarization (IP)
Chargeability results from the 2018 Deep IP completed by Bam Bam revealed several deep chargeability anomalies. Core hole MHB-8 drilled into the chargeability anomaly and is associated with Line 1. As reported by Wright for the drone magnetic data, the sulfides in MHB-8 are consistent with the chargeability anomaly. Line 5 IP chargebility is shown in cross section over the intrusive complex. A large chargeability anomaly is apparent in the contact zones around Ti1 and KTi. The IP anomaly is proximal to the soil geochemical anomalies.
Figure 5
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Additional IP is planned for 2021 to expand these zones.
About Majuba Hill Property
Majuba Hill is a large contiguous land position controlling the emerging Majuba Hill Copper District, located Northeast of Reno, Nevada. The "Majuba Hill District" is 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 land package is approximately 15.1 square miles (39.2 square km)/9,678 acres (3,917ha).
The property is easily accessed by 23 miles of well-maintained roads leading from U.S. Interstate 80. Reno and Elko are the major supply centers for exploration and mining activities in Nevada. The existing highways are sufficient for transportation of exploration-size heavy equipment. Development logistics would use the 4 lane Interstate 80 highway, Union Pacific railroad tracks and adjacent power, natural gas, and fiber optic transmission lines in the rail - highway corridor.
Mining is a common occupation in the area with several small to world class mines operating in the Winnemucca - Lovelock area over the past several decades. A well-trained and experienced mining workforce pool is available in Nevada when labor and expertise are required.
The excellent location of Bam Bam's Majuba Hill District, with already existing mining friendly infrastructure, will significantly reduce costs for exploration programs and future mining activities.
Qualified Person
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 Pink: NPEZF) (FSE: 4NPB) is engaged in the identification, review and acquisition of latter stage copper and copper/silver/gold assets. This is in direct response to the growing worldwide demand and lack of supply for precious metals fueled by the Green New Deal in the US and most other developed nations with similar programs aimed at addressing climate change. Such programs are heavily reliant on silver, gold and especially copper to produce Electric Vehicles and other renewable power sources, as well as building infrastructure to provide clean and affordable electricity.
The flagship project is the Majuba Hill copper, silver and gold District, located 156 miles outside Reno, Nevada, USA. Management has been mandated to focus on safe, mining friendly jurisdictions where government regulations are 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 Greenway"
David C. Greenway
President & CEO
For further information, please contact:
Joel Warawa
VP of Corporate Communications
E: jw@bambamresources.com
P: 1 (855) 475-0745
Forward-Looking Statements
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.
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