Bam Bam Provides Corporate Update and Recap on Majuba Hill Nevada
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Press Release September 28, 2020
Bam Bam Provides Corporate Update
and Recap on Majuba Hill Nevada
VANCOUVER, BC — September 28, 2020 — Bam Bam Resources Corp. (CSE: BBR /
OTC: NPEZD / FSE: 4NPB) (“Bam Bam” or the “Company”) is pleased to provide
a company update on developments within the Company and a recap on its flagship
Majuba Hill Nevada Property (the "Property" ), a copper, silver, gold porphyry
project located in Pershing County, Nevada.
David Greenway, President and CEO, states: “Since I joined Bam Bam, considerable
energy by the Board has gone into adding a prospective new project to the Company
with a focus on some of the world’s most mining friendly jurisdictions. We are now
focused on exploration in the Western United States, especially Nevada. I would like
to commend Buster Hunsaker for his tireless vision on bringing the flagship Majuba
Hill Property towards a world-class deposit."
Majuba Hill Nevada Property Geological Programs
Bam Bam undertook several geological exploration programs this year along with
reassessment of historic drilling and exploration.
In April, the Company announce d that, after reassessment of historic drilling and
exploration, the geological team at Majuba Hill are pleased to report that they have
outlined three gold zones associated with the Majuba Hill copper (gold) porphyry
project in Pershing County, Nevada. The ongoing, historical data review highlighted
significant gold values associated with the copper in historic drill holes, surface rock
chips, and soil sampling. This data suggests that Majuba Hill is best classified as a
copper-gold porphyry.
The Company then begun mobilizing for the 2020 Phase 1 drilling program at its
flagship Majuba Hill Property and Harris Exploration Drilling & Associates Inc. of
Fallon, NV, mobilized a track mounted Core Rig to the project site. The two initial drill
holes are targeting the high-grade copper zones containing significant gold and silver
that were identified from the historic drilling. With COVID -19, Bam Bam field
personnel and contractors used operational health and safety protocols consistent
with ensuring the health and safety of its people, the local community, and the State
of Nevada.
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In May, the Company announced it completed the first core hole for the 2020 Phase
1 drilling program . The hole was designed to expand the copper, gold, and silver
mineralization identi fied in the historic drill data. The hole was halted after
intersecting historic workings. Hole MHB-1 is a vertical core hole drilled to 311.5 feet
(94.9 M).
Later that month the Company announced it has completed the second core hole ,
MHB-02, of the 2020 Phase 1 drilling program. The hole was designed to expand the
copper, gold, and silver mineralization identified in the historic drill data. Hole MHB-
02 was drilled at a -45° inclination on an 045 azimuth to 474.5 feet.
In July, the Company announced that core hole MHB -1 at the Majuba Hill Nevada
flagship property has returned significant copper and silver values.
Results from core hole 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.
Results from core hole MHB-2 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:
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• 146 feet from 0 to 146 feet @ 1.41% Cu and 9 7.6 ppm Ag including 28 feet
from 12 to 40 feet @ 0.74% Cu and 120.8 ppm Ag and 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
Majuba Extension Target Zone and New Road
In July, the Company discovered additional copper oxide while building an access
road and drill sites at its flagship Majuba Hill Nevada Property.
The new road in the Majuba Extension Target Zone opened three new extensive
copper oxide zones around two historic prospe ct pits. The new access road crossed
below a small, historic prospect pit and its exposed copper oxide showings that were
previously unknown, including malachite and chalcocite. Eighteen outcrop chip-
channel samples were collected from five new exposures.
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In August, The Company completed 3,000 feet (914m) in four vertical holes on the
Majuba Extension Zone. Copper oxides were observed in MHB -5 between 750 and
810 feet. These holes will drill test the Majuba Extension Ridge.
Three core holes are planned at Majuba Extension Target Zone for the Phase 2
drilling. The plan is to drill 4,500 feet (1,371 m) in the sulfide target zone below the
oxide mineralization. The holes will step out from sulfide copper mineralization
intersected in MMX-24, test the high chargeability IP zone that is coincident with the
high-grade copper in historic drill holes, and test the zone beneath the historic
underground mine workings.
New Directors
The Company recently announced the addition of Yari Nieken and Joel Warawa who
have both joined the Board of Directors. Mr. Warawa has over twenty years of
experience in public and private businesses as a financial and marketing consultant
including busine ss development, negotiations, mergers, and acquisitions, and
increasing brand awareness in a broad spectrum of markets including commodities,
automotive dealerships, and the mining sector. Mr. Warawa has an extensive network
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of contacts within the financial community including brokers, fund managers, industry
analysts and clients that will assist him in raising capital for any future financings.
Mr. Nieken has an extensive range of public company and capital market experience.
As a founder of Foremost Capital Inc., an exempt market dealer, he continues to
provide in depth consulting for numerous publicly listed issuers in the health care,
mineral extraction, technology, and wellness industry. Throughout the years, he has
served on the boards and as an office r of several public and private issuers. His
involvement in those companies has led to the numerous financings that raised
substantial capital in his career. He was formerly an investment adviser at Union
Securities Corp., where he gained a variety of knowledge in the public market. Mr.
Nieken holds a Master of Business Administration (MBA) from the Sydney Graduate
School of Management and a Bachelor of Arts from the University of British Columbia.
Financings
The Company successfully completed several financings in 2020 . In February, the
Company closed an oversubscribed non-brokered private placement financing for
total gross proceeds of $1,403,700.
The Company has just successfully closed an oversubscribed non-brokered private
placement financing for total gross proceeds of $1,975,000 , 9,875,000 units at a
price of $0.20 cents per unit. Each unit consists of one common share of the Company
and one transferrable share purchase warrant. Each warrant entitles the holder to
acquire one additional common share at an exercise price of $0.25 for a period of 36
months from the closing date, subject to accelerated expiry.
Mackay School of Earth Sciences and Engineering
In May, the Company announced that it had been chosen as one of three new theses
to be prepared under supervision at the University of Nevada’s ( “UNR”) Ralph J.
Roberts Center for Research in Economic Geology (“CREG”).
The CREG program is a center of study and learning that is leading to a greate r
understanding of the geology, geochemistry, geophysics, genesis and exploration of
mineral deposits, especially Nevada's famous Carlin-type gold deposits, which make
the U.S. the third leading gold producer in the world. The program is a partnership
between the Mackay School of Earth Sciences and Engineering at the University of
Nevada, Reno, the Nevada Bureau of Mines and Geology, and the U.S. Geological
Survey. CREG is directed by Dr. John Muntean, Associate Professor at the University
of Nevada, Reno. The sponsors and partners provide broad guidance and the list
includes many of the active mining companies and explorers in Nevada.
Share Consolidation
The Company announced a consolidation all of the Company's issued and outstanding
common shares on the basis of ten (10) pre -consolidation shares for one (1) post -
consolidated share of the Company resulting in 5,414,151 common shares issued and
outstanding. The share consolidation was implemented with the objectives of having
the Company’s share price trade in a range above $0.20 per share and to offer a tight
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capital structure to prospective investors in the Company. The consolidation removes
this barrier and opens Bam Bam up to significant global trading accounts. The
Company also believes that it can now have increased institutional and broker
support.
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.
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 , RC chips, and rock sample s are 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. All samples are then transported directly to the ALS Sample Prep
Facility in Elko, Nevada. ALS will then transport 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 drill 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.
Qualified Persons
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.
With its flagship project being Majuba Hill copper gold project located 156 miles
outside Reno, Nevada, USA. Management has been mandated to focus on safe,
mining friendly jurisdictions and governm ent 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.
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On Behalf of the Board of Bam Bam Resources Corp.
“David Greenway”
David C. Greenway
President & CEO
For further information, please contact:
P: (604) 318-0114
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 expectation s 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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