Bam Bam Resources Corp. (CSE:BBR) (OTCPINK:NPEZF) (FRA:4NPB) announced on Friday that Larry Segerstrom has agreed to join the company's advisory board, noting that following a week-long detailed field, core, and detailed data review, Segerstrom was very encouraged by the strong porphyry signature shown at the group's the Majuba Hill Project.
The company pointed out that Segerstrom is a senior mining professional with 37 years of technical, operational, and business experience, including exploration, mine geology and operations with his past positions including COO of Paramount Gold and Silver Corp. and Manager of Geology of the Grasberg Mining District for Freeport-McMoRan.
He 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.
READ: Bam Bam Resources expands its Majuba Hill project in Nevada to more than 34 square kilometres
In a statement, David Greenway, president & CEO of Bam Bam Resources, 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."
2020 exploration update
During 2020, Bam Bam drilled 8,706 feet (2654 metres) 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 company noted that the project and core review by Segerstrom highlighted significant enrichment beneath the historic production workings. Native copper noted in hole MHB-9 - as per a Bam Bam Resources news release on 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 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.
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 kilometres) 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.
The flagship Majuba Hill project 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.
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 four-lane Interstate 80 highway, Union Pacific railroad tracks and adjacent power, natural gas, and fiber optic transmission lines in the rail-highway corridor.
The group has said 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.
Contact the author at jon.hopkins@proactiveinvestors.com