VANCOUVER, BC — January 13, 2021 — Bam Bam Resources Corp. (CSE: BBR / OTC: NPEZF / FSE: 4NPB)(“Bam Bam” or the “Company”) is pleased to announce that Larry Segerstrom has agreed to join the Company’s Advisory Board. Following a week-long detailed field, core, and detailed data review, Mr. Segerstrom was very encouraged by the strong porphyry signature shown by the Majuba Hill Project.
David Greenway, President & CEO, commented: “I am pleased that we are able to attract a geologist with Larry’s talent and porphyry copper background. His review of the core from our 2020 drilling provided immediate insight and confirmation for our staged exploration program at Majuba. It is extremely rewarding to have another accomplished professional on the Bam Bam team. I expect that Larry’s experience will bring an important element to understanding the extensive data we have compiled at Majuba. Our team in Nevada will be able to utilize his knowledge and background as they push forward with the 2021 exploration program at Majuba Hill.”
Mr. Segerstrom is a senior mining professional with 37 years of technical, operational, and business experience, including exploration, mine geology and operations. His past positions include COO of Paramount Gold and Silver Corp. and Manager of Geology of the Grasberg Mining District for Freeport-McMoRan. Mr. Segerstrom has been involved in several discoveries, including leading the teams that discovered and developed new resources of more than 750,000 ounces of gold and 60 million ounces of silver with Paramount, and new ore reserves totaling 3.4 billion pounds of copper and 3.6 million ounces of gold with Freeport.
He holds a M.Sc. in Economic Geology from the University of Arizona, a M.B.A. in Global Management, and is a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”).
2020 Exploration Update
During 2020, Bam Bam drilled 8,706 feet (2654 m) in 5 core and 4 reverse circulation (“RC”) holes. The 2020 exploration was a staged program applying all available drilling, geochemistry, and geophysical data to the copper porphyry mineralization at Majuba. The 2020 program was able to:
- Expand and enlarge the known copper oxide zone; and
- Expand and extend the hypogene sulfide copper mineralization.
A National Instrument 43-101 Technical Report was initiated in 2020 to provide a regulatorily compliant document and initial resource for Majuba. The report will be completed early in Q2 pending receipt of all 2020 assay results.
The project and core review by Mr. Segerstrom highlighted significant enrichment beneath the historic production workings. Native copper noted in MHB-9 (BBR news November 23, 2020) and chalcocite observed in historic drill core pointed to the potential for supergene mineralization extending from the surface to over 900 vertical feet beneath outcropping copper mineralization drilled in MHB-2.
The 2020 exploration plan was designed so that each stage built on success. Results for each stage of the 2020 program are very encouraging:
Core holes MHB-1 and MHB-2 in the known copper oxide zone intersected significant outcropping copper and silver starting at the surface.
Extensive copper intersections in RC holes MHB-3, 4, 5, and 6 extended the oxide copper mineralization, expanding it eastward and deeper.
Deep core holes MHB-7, 8, and 9 stepped out from the newly discovered oxide copper zone extension, and intersected hypogene and supergene sulfide copper below the oxide zone.
The table below provides a list of significant copper intercepts.
All intervals are drill length; true width of mineralization is not yet known.
The culmination of the 2020 Bam Bam drilling was the deep core program which intersected extensive porphyry alteration with chalcopyrite, chalcocite, and bornite associated with widespread pyrite, arsenopyrite, and pyrrhotite. Three deep holes were drilled for a total of 4920 feet (1499.6 meters). Core has been submitted to ALS Minerals and assay results will be reported pending their receipt.
|Hole||Azimuth||Inclination||Length (ft)||Length (m)|
The intrusive and extensive alteration intersected from top to bottom in holes MHB-8 and MHB-9 indicates the footprint of the Majuba Hill porphyry system is a minimum of 3,000-5,000 feet (1-1.5 km) across. When the visual observations of the porphyry alteration and sulfides from the deep Bam Bam core is combined with deep IP geophysics and soil geochemistry two new mineralized centers are apparent.
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 project 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 property is easily accessed via 23 miles of well-maintained dirt 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 property, with already existing mining friendly infrastructure, will significantly reduce costs for exploration programs and future mining activities.
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/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 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:
VP of Corporate Communications
E: [email protected]
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.