Bam Bam Resources Corp (CSE:BBR) (OTCPINK:NPEZD) (FRA:4NPB) continues to advance its flagship Majuba Hill project towards becoming a world-class deposit and where drilling this year has shown "significant" copper and silver values.
In a corporate update Monday, the company recapped on work this year at the porphyry copper silver asset, a site of previous production, which lies in Pershing county, Nevada.
READ: Bam Bam Resources appoints Yari Nieken as a non-executive, independent director of the company with immediate effect
In May this year, the resource group said it had completed the first core hole of its 2020 Phase 1 drilling program, which was designed to expand the copper, gold, and silver identified in the historic drill data. The hole was halted after it hit historic workings.
In July, the company announced that the first hole returned significant copper and silver values, including 74 feet (ft) from 210 to 284 feet depth at 0.4% copper (Cu) and 10.2 parts per million (ppm) silver.
A second hole also hit an "outstanding interval of copper and silver" from surface, the firm told investors. Results included 146 feet from surface at 1.4% copper and 97.6 parts per million (ppm) silver, including 28 feet starting at 12 ft at 0.7% copper and 120.8 ppm silver.
In August, Bam Bam completed 3,000 feet (914m) in four vertical holes on the so-called Majuba extension zone and copper oixides were observed in one.
Three core holes are planned at the Majuba Extension Target Zone for Phase 2 drilling, the firm added. The plan is to drill 4,500 feet (1,371 m) in the sulfide target zone below the oxide mineralization, said Bam Bam.
Also in Monday's update, the firm noted it had also carried out a 10:1 share consolidation, and recently added Yari Nieken and Joel Warawa, both experienced executives, to its board of directors.
It also noted it had just successfully closed an oversubscribed non-brokered private placing for total gross proceeds of C$1.975 million.
Also this year, Bam Bam was chosen as one of three new theses to be prepared under supervision at the University of Nevada's Ralph J Roberts Center for Research in Economic Geology (CREG).
The CREG program is leading to a greater understanding of the geology, geochemistry, geophysics, genesis and exploration of deposits, especially Nevada's famous Carlin-type gold deposits, which make the US the third-leading gold producer in the world.
CEO of Bam Bam David Greenway told investors in the statement that since he had joined the company, "considerable energy" by the board had gone into adding a prospective new project.
"We are now focused on exploration in the Western United States, especially Nevada. I would like to commend Buster Hunsaker for his tireless vision on bringing the flagship Majuba Hill Property towards a world-class deposit," he said.
Majuba Hill spans 4,822 acres of surface and mineral rights, which include three patented lode claims and 632 acres of privately-owned surface and minerals. It is easily accessed via 23 miles of well-maintained dirt roads leading from US Interstate 80.
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