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Bam Bam Adds Second Drill at Majuba Hill Porphyry Copper Project

Bam Bam Resources Corp. (CSE: BBR) (OTC Pink: NPEZF) (FSE: 4NPB) (“Bam Bam” or the…

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This article was originally published by Resource World

Bam Bam Resources Corp. (CSE: BBR) (OTC Pink: NPEZF) (FSE: 4NPB) (“Bam Bam” or the “Company”) is pleased to announce that a Second Drill Rig is being added at the Majuba Hill Porphyry Copper Project in Pershing County Nevada. Falcon Drilling has been engaged to drill 914 m (3000 ft) of core. The second drill rig is being added to expand the footprint of the Porphyry Copper deposit at Majuba.

Reverse-circulation (“RC”) drilling with rig one began in the beginning of October and is making tremendous footage-production. The Company is very pleased with the results. The ongoing RC drilling program is focused on in-fill and expansion of the known oxide copper mineralization identified in previous drilling and mined from the historic underground Majuba Hill Mine.

Figure 1

Core drilling will be targeting the copper-gold target. Widespread soil geochemistry completed this summer has outlined a distinct copper-gold zone in a granodiorite intrusive. A mafic dike zone also cuts the widespread granodiorite intrusive. A small portion of the dike zone was mined by underground methods in the early 1900’s at the historic Last Chance Mine.

The mafic dike zone is strongly coincident with a distinct magnetic anomaly from the Drone Mag Survey and a high-chargeability corridor from the most recent Induced Polarization/Resistivity Survey.

David Greenway, President and CEO, commented: “I am very pleased that we are adding a second rig at Majuba. Bam Bam’s drilling at Majuba has always been based on a systematic, staged exploration approach and it is exciting that the results are driving an expanded drill program.”

Quality Assurance/Quality Control (“QA/QC”) Measures, Chain of Custody

The Company has implemented a QA/QC program using best industry practices at the Majuba Hill Project. The samples are transported from the BBR secure warehouse or directly from the drill to the ALS Sample Prep Facility in Reno or Elko, Nevada. ALS then transports the prepared pulps to their analytical lab in Reno, Nevada or Vancouver, B.C. Soil and rock chip samples are transported by the company directly to Elko or Reno, Nevada.

Drill core samples are sawn in half lengthwise and one half is placed in labeled cloth sample bags. All samples are analyzed for copper, gold, silver, and 33 other elements. Gold is determined by ALS method Au-AA23 which is a fire assay with an AAS finish on a 30 gram split. Copper, silver and the remaining 31 elements are determined by ALS method ME-ICP61 which is a four acid digestion and ICP-AES assay. Approximately 5% of the submitted samples are drill duplicates and copper-gold-porphyry commercial standard reference material pulps. The sample rejects and remaining pulps will be retrieved from ALS.

RSU Grant

Further, the Company has granted an aggregate 6,300,000 restricted share units (the “RSUs”) to consultants and a director of the Company. The RSUs are valid for a one-year term and are governed by the Company’s RSU Plan, approved by the Company’s shareholders on December 2, 2019.

Qualified Person

The scientific and technical information contained in this news release has been reviewed by E.L. “Buster” Hunsaker III, CPG 8137, a non-independent consulting geologist who is a “Qualified Person” as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”).

About Bam Bam Resources Corp.

Bam Bam Resources Corp. (CSE: BBR) (OTC Pink: NPEZF) (FSE: 4NPB) is engaged in the identification, review and acquisition of latter stage copper and copper/silver/gold assets. This is in direct response to the growing worldwide demand and lack of supply for precious metals fueled by the Green New Deal in the US and most other developed nations with similar programs aimed at addressing climate change. Such programs are heavily reliant on silver, gold and especially copper to produce Electric Vehicles and other renewable power sources, as well as building infrastructure to provide clean and affordable electricity.

The flagship project is the Majuba Hill copper, silver and gold District located 156 miles outside Reno, Nevada, USA. Management has been mandated to focus on safe, mining friendly jurisdictions where government regulations are supportive of mining operations.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

On Behalf of the Board of Bam Bam Resources Corp.

“David Greenway”

David C. Greenway
President & CEO

For further information, please contact:
Joel Warawa
VP of Corporate Communications
E: [email protected]
P: 1 (855) 475-0745

Forward-Looking Statements

This news release contains certain statements that may be deemed “forward-looking” statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Bam Bam Resources Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Bam Bam Resources Corp. management on the date the statements are made. Except as required by law, Bam Bam Resources Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Articles

Lunnon Metals wants to recreate the success of its peers in the Kambalda nickel district

Special Report: Lunnon Metals listed in June, raised a tidy $15 million and in the process solidified a 51% interest … Read More
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Lunnon Metals listed in June, raised a tidy $15 million and in the process solidified a 51% interest in the Kambalda nickel project (KNP) via an existing joint venture with St Ives – a wholly owned subsidiary of global gold major Gold Fields Ltd. 

The company then acquired the residual 49% interest in the KNP from St Ives by issuing shares in consideration at the IPO and now holds 100% of the project in the Kambalda nickel district which has produced more than 1.4 million tonnes since its discovery in 1966 by WMC Resources (WMC).

Plus, the company’s compact but well-appointed 23km2 of ground also hosts two historical nickel mines – Foster and Jan – which closed in 1986 and 1994.

Lunnon Metals (ASX:LM8) has access to all of the historical drill core and the historical resources that are currently not JORC compliant.

“We’re looking to bring some of those historical estimates up to modern day JORC 2012 compliance standards, so our resource base should grow regularly regardless of whether we find anything from drilling”, managing director Ed Ainscough said.

“The historical assets at the Kambalda nickel project missed the last nickel boom, they lay fallow and didn’t have the same attention as previous WMC assets”.

“We’re pretty confident; we’ve got 39,000 nickel tonnes in resource currently, but I would fully expect that to grow without doubt, from both the exploration and the historical core programmes”.

“Obviously we’d all love to find something new, it’s every geologist’s dream to find something that somebody else has missed.”

Team has extensive experience in the region

Ainscough is confident that if there’s nickel and gold to be found, he has the team that can find it.

“I’ve had a long association with St Ives and Kambalda from 1987 onwards, and most of our team worked for WMC.  A couple of us went on to work for Gold Fields,” he said.

“Aaron and I have spent so long on this ground, we have the continuity of knowledge and the technical depth which means there’s almost no one on the planet who would know as much about the gold and nickel geology, corporate and transaction history, as we do”.

“The advantage we have over our peers is that we’re right in the middle of Kambalda, so a lot of companies will say they’ve got “Kambalda-style” – but that’s a little bit like saying you’ve got champagne [that’s not from the Champagne district]”.

“We can’t put the metal in the ground, but if it’s there we think we’ve got a really good chance of finding it and hopefully investors see that as a real opportunity to shorten the time between their investment and seeing discovery or resource growth”.

Pic: Map of Lunnon’s Kambalda nickel project

Drilling underway with visible gold intersected

RC and diamond drilling is already underway at the project, with best results from East Cooee to date including 1m at 7.44% nickel and 2m at 3.46% nickel.

“We started releasing our first set of results and I’m very pleased to say that the first target we put rigs on, an area called East Cooee – which has previously been drilled by WMC but never been put into resource – has returned some good high grade Kambalda-style nickel sulphide,” Ainscough said.

“We’re drilling both the extensions of the known positions but we’re trying to explore and find new locations, where nickel has been missed previously.”

The company has also reported 7.84m at 1.50g/t Au with  visible gold at the project.

“We’ve always got half an eye on the gold potential, because St Ives remains one of WA’s best performing and longest-lived gold operations, with up to 15 million ounces of gold mined to date,” Ainscough said.

“When you’re exploring for nickel at Kambalda it’s always important to understand what those gold structures are doing and we’ve assayed for it and we’ve got a good-looking structure. The grade is a bit modest, but there was visible gold and we managed to intersect that same structure a few times.

“Those assays are still pending and while nickel is definitely the main game, we’ve got the gold rights to most of the ground in the heart of what is an exceptionally endowed gold belt.”

Aiming to recreate success of peers

“In essence, the opportunity with Lunnon Metals on the ground at Foster and Jan is simply this: these assets were shut early in the piece when WMC made the strategic decision to divest itself of its nickel mines in Kambalda,” Ainscough said.

“It sold most of the remaining nickel mines to Mincor Resources (ASX:MCR), Panoramic Resources (ASX:PAN), and IGO Ltd (ASX:IGO).

“Through hard work, being more nimble and well capitalised, and with aggressive exploration, they were able to work into that next nickel boom in the mid 2000s and were extremely successful, generated a lot of cash and found a lot of nickel that WMC had essentially left on the table.

“The assets that we own were already shut and so were sold with the gold assets to Gold Fields – they missed the mid 2000s boom.

“So, it’s a very simple story. We’re just looking to replicate what those other three successful ASX listed companies did and be nimble, well capitalised, and explore aggressively.”

 


 

 

This article was developed in collaboration with Lunnon Metals, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

 

The post Lunnon Metals wants to recreate the success of its peers in the Kambalda nickel district appeared first on Stockhead.

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Precious Metals

Endeavour Silver Beats BMO’s Production Estimates By 30%

Last week, Endeavour Silver Corp. (TSX: EDR) announced their third quarter production highlights. For the third quarter, ending September 30th,
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Last week, Endeavour Silver Corp. (TSX: EDR) announced their third quarter production highlights. For the third quarter, ending September 30th, 2021, the company produced 1,305,399 silver ounces and 10,541 gold ounces, up 39% and 3% year over year respectively. Third quarter 2021 throughput also increased by 8% to 222,461 tonnes.

The company also increased management production guidance for 2021 to 7.7 to 8.0 million ounces of silver equivalents due to higher than expected grades and tonnage milled, saying that “Silver equivalent production at each mine is on track to meet or exceed 2021 production plans.”

Endeavour Silver has 7 analysts covering the stock with an average 12-month price target of C$7.05, or a 33% upside. Out of the 7 analysts, 2 have buy ratings while the other 5 have hold ratings. The street high sits at C$8.78 from H.C Wainwright, while the lowest comes in at C$5.25.

BMO Capital Markets in their note reiterated their C$5.25 12-month price target and Market Perform rating on Endeavor Silver, saying that the third quarter showed solid production numbers out of the Bolanitos and Guanacevi mines.

For the quarter, BMO forecasted silver production would come in at 1 million ounces. Both gold and silver production was beaten by roughly 30%, thanks to higher than expected tonnage, and grades at Guanacevi.

BMO notes that the company selling 699 thousand ounces of silver, is “well below” their production which is forecasted to impact third quarter sales, but BMO believes this will help the company’s fourth quarter results.

Below you can see BMO’s updated estimates.


Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post Endeavour Silver Beats BMO’s Production Estimates By 30% appeared first on the deep dive.

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Precious Metals

Aya Gold & Silver Produces 338,624 Silver Ounces In Q3 2021, Increases 2021 Guidance To 1.55 Million Ounces

Aya Gold & Silver Inc. (TSX: AYA) shared today its quarterly production results for Q3 2021 at the Zgrounder Silver
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Aya Gold & Silver Inc. (TSX: AYA) shared today its quarterly production results for Q3 2021 at the Zgrounder Silver mine in Morocco, recording silver production of 338,624 ounces. This is a decrease from Q2 2021’s silver production of 439,149 ounces but an increase from Q3 2020’s silver production of 113,655 ounces.

The quarterly silver production had an average grade of 242 g/t silver, compared to last quarter’s 297 g/t silver and last year’s 217 g/t silver.

“The better than anticipated operational performance and execution gives us the confidence to increase Zgounder’s production guidance by 29% to 1.55 million ounces for the year,” said Aya Gold & Silver CEO Benoit La Salle.

The mining company also noted a dip in the silver recovery rate, reaching 81% this quarter from 82% last quarter. The firm said this is primarily due to due to lower freshwater intake and excess evaporation in the tailings dam during the summer months. The plant availabilities for the flotation and cyanidation plants are at 87% and 89% this quarter, respectively.

Aya Gold & Silver Inc. last traded at $9.12 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post Aya Gold & Silver Produces 338,624 Silver Ounces In Q3 2021, Increases 2021 Guidance To 1.55 Million Ounces appeared first on the deep dive.

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