Bam Bam Resources (CSE:BBR) Corp has reported the latest drill results from its flagship Majuba Hill project in Nevada, which the company says shows its potential to house a 'billion ton copper, silver, gold porphyry deposit'.
The firm said it drilled 4,541.4 meters (m) in 15 reverse circulation (RC) holes and 859.4m in two core holes. All assays have now been received.
Among the key findings was the identification of a large copper zone with good potential for future development, along with gold values of up to 1.5 grams per ton (g/t), across several holes, which indicate a 'gold-rich corridor' correlating with surface rock chip samples.
"The zones of widespread copper oxide and sulfide enrichment combined with the newly discovered, underlying porphyry-altered granodiorite intrusive strongly outline the potential for Majuba Hill to be a billion ton copper, silver, gold porphyry deposit," the junior resource group said.
In a statement, Bam Bam CEO David Greenway added: "With copper at all-time highs, Bam Bam anticipates growing into a mid-tier, with Majuba moving from a discovery play into a resource development project. Copper use continues to grow and projects the size of Majuba in safe jurisdictions are needed to meet world demand."
READ: Bam Bam plans expanded soil geochemistry coverage at Majuba Hill porphyry copper project in Nevada
Core holes, which were sunk around 2 kilometres (km) southeast of outcropping copper oxide also discovered a new underlying intrusive with extensive porphyry-style alteration, noted Bam Bam.
The latest highlight drill intercepts included 44.5m, starting from surface, which showed a grade of 1.41% copper and 97.6 g/t silver, or 2.4% copper-equivalent in one hole.
Another hole showed 25.9m at 0.43% copper starting from 222.5m, including 3.1m at a grade of 3.11% copper from 224.03m, and another hole extended the 2020 0.3% copper shell northward and discovered a length of 33.7m at 0.21% copper from 271.27m depth, including 1.5m at 1.63% copper from 303.28m depth.
Majuba Hill sits 156 miles outside Reno, in Nevada, USA - a Tier 1 mining district. Bam Bam has 100% control of the emerging Majuba Hill copper district by private ownership, patented mining claims, and Federal Lode mining claims
The existing highways are sufficient for transportation of exploration-size heavy equipment. Development logistics would use the four-lane Interstate 80 highway, Union Pacific (NYSE:UNP) railroad tracks and power, natural gas, and fiber optic transmission lines in the rail-highway corridor, the company said.
Contact the writer at giles@proactiveinvestors.com