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Bam Bam Resources making great strides in Nevada as it looks to become next generation copper company

Snapshot

The firm has said its focus on copper is as a direct result of the growing electric vehicle industry

Bam Bam Resources -

Quick facts: Bam Bam Resources

Price: 0.355 CAD

CSE:BBR
Market: CSE
Market Cap: $27.05 m
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  • Operating in mining friendly Nevada
  • Led by resource sector professionals
  • Global copper use continues to rise

What Bam Bam Resources Corp does: 

Bam Bam Resources Corp (CSE:BBR) (OTCPINK:NPEZD) (FRA:4NPB) is focused on advancing its flagship Majuba Hill project in Nevada, USA, on which it has a lease deal, towards becoming a world-class copper deposit.

The exploration focus on copper is as a direct result of the growing electric vehicle (EV) industry, the group has said, which uses the increasingly in-demand red metal throughout the motor and electrical system in every vehicle. 

Notably, Majuba Hill sits 120 miles northeast of the Tesla (NADSAQ:TSLA) Gigafactory.

The project spans 4,822 acres of surface and mineral rights and is accessed via 23 miles of well-maintained dirt roads leading from US Interstate 80. Historic data from the project suggests an economically feasible oxide deposit near-surface with the potential for a larger sulphide formation below.

The asset's previous production credentials are in no doubt. Between 1907 and 1960, Majuba Hill produced 2.8 million pounds of copper, 184,000 ounces of silver, over 885,000 pounds of lead and 5,800 ounces of lode gold.

Bam Bam says the total potential for the project is between 350 and 500 million tons of sulfide/oxide mineralization at grades of 0.4% copper, 12 parts per million (ppm) silver and 0.175 parts per million (ppm) gold.

The company's 2020 multi-phase drill program is paid for and in progress.

How is it doing:

Encouraging exploration and drill results have been the order of the day for Bam Bam in recent months and, in October, the firm revealed that geologist Alan Morris, as author of the original report from 2017, will update the NI 43 101 resource report for Majuba Hill.

In April, a reassessment of historic data led to the firm outlining three gold zones associated with the copper (gold) porphyry project.

In May, the firm completed two holes, in its 2020 Phase 1 drilling program, the second of which hit from surface an impressive 146 feet at 1.41% copper and 97.6 parts per million (ppm) silver, including 28 feet at 0.74% copper and 120.8 ppm silver and 43 feet at 4% copper and 204.4 ppm silver.

In August, Bam Bam completed 3,000 feet (914 metres) in four vertical holes on the so-called Majuba extension zone and copper oxides were observed in one.

In early October, the group said latest reverse circulation (RC) drilling hole results designed to extend the known oxide mineralization eastward into the Majuba Extension zone, combined with historic drilling, new copper, silver, and gold assays indicated a new oxide discovery zone and a new sulfide discovery zone.

The same month, Bam Bam told investors that a second phase deep core drilling was underway at Majuba Hill in a bid to outline the large scale mine potential. Each hole will be sunk to around 457 metres into the sulfide copper zone below the oxide copper zone, which was drilled in six previous RC drilled holes, the firm said.

In the boardroom, Bam Bam added Yari Nieken and Joel Warawa, both experienced executives, as directors in August.

And on the financing front, it successfully closed an oversubscribed non-brokered private placing for total gross proceeds of C$1.975 million.

Inflection points:

  • An updated NI 43 101 report for Majuba Hill
  • More exploration/drill results
  • Copper metal price moves

What the boss says:

In its last exploration results statement, Bam Bam CEO David Greenway said: "The ongoing exploration program and drill results continue to provide exciting results which we expect to lead to a significant, new porphyry copper deposit."

Meanwhile, in a corporate video on its website, the group said of this year's activity on the ground: "We are executing a staged exploration program directly targeting the original mine area and continuing to the east, to the west and at depths below the historic workings into the very heart of the mountain."

It added: "The world is changing and the electric vehicle revolution, economic uncertainty and even the health of our planet is transforming entire market sectors. Now is the time to consider the next wave of mining opportunities."

Contact the author at giles@proactiveinvestors.com

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