Bam Bam Resources Corp (CSE:BBR) (OTCPINK:NPEZD) updated on drilling progress at its flagship Majuba Hill property in Nevada on Wednesday, the results of which it expects to lead to a 'solid' maiden NI 43-101 resource.
As reported in October this year, a second phase of deep core drilling is now underway at the project and today, the group said 2,591 feet (790 meters) have now been submitted to the lab for analysis.
READ: Bam Bam Resources sees encouraging signs after 'quick-logging' of deep hole core from Majuba Hill property, Nevada
The remaining 2,329 feet (709.6 meters) is expected to be submitted by year's end and assay results from deep core drilling are expected to be complete before the end of the first quarter of 2021.
On November 23, Bam Bam reported that 1,499.6 metres (m) had been drilled and "quick-logging" of drill core on site had been encouraging, with copper oxide, disseminated sulfides, sulfides in stockwork veins, and native copper observed.
Today, Bam Bam said in a statement: "In addition to the widespread occurrence of pyrite, pyrrhotite, chalcopyrite, and arsenopyrite as disseminations, stockworks, and cross-cutting veins, a quartz/tourmaline/molybdenum vein event has been observed in the core."
The company said this was "very encouraging" for the porphyry potential of the Majuba Hill project.
"I am looking forward to getting the assay results from the deep core drilling. When all the results are in from the 2020 drilling we expect a solid maiden resource from the new NI43-101 report," said David Greenway, Bam Bam chief executive.
Interest in Nevada has slowed several aspects of the group's expanded exploration program at Majuba Hill, notably turnaround times for the lab. Geophysical survey crews and soil geochemical crews also require longer lead times, it added.
However, samples from the soil program completed on the privately held section 35 land are progressing through the ALS Minerals backlog and results are expected in early mid-January 2021, it added. The company also noted that an expanded, drone-based magnetic survey is now firmly scheduled to be done in the first part of January 2021.
"Due to the extensive volume of sulfides in the Phase 2 deep sulfide holes the company has laid out an expanded deep IP program and is in the queue with Zonge to be able to complete this work as soon as possible in 2021."
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