Vancouver, British Columbia--(Newsfile Corp. - August 21, 2020) - Bam Bam Resources Corp. (CSE: BBR) (OTC Pink: NPEZF) (FSE: 4NPA) ("Bam Bam" or the "Company") is pleased to report high-grade copper and silver assay results from copper oxide exposed on new access roads and drill sites at its flagship Majuba Hill Nevada Property (the "Property"), a copper, silver, gold porphyry project located in Pershing County, Nevada.
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Eighteen chip-channel samples were collected from outcrop along the new road cut exposures.
Sample assays returned 37 to 16,950 ppm copper and 0.6 to 166 ppm silver. Sample MHR-413 returned 1.7% Cu and 14.5 ppm Ag and sample MHR-403 returned 193 ppm Cu and 166 ppm Ag (4.8 oz Ag/ton). Sampled lengths ranged from 2 to 20 feet (0.6-6.1 m).
The Company completed 3,000 feet (914m) of reverse circulation (RC) drilling in four vertical holes on the Majuba Extension Zone. Copper oxides were observed in MHB-5 between 750 and 810 feet. All samples have been submitted to the ALS Geochemistry prep facility in Elko, Nevada for sample analysis.
Mr. David Greenway reports: "I am pleased to see the high copper and silver grades from the oxides outcropping along the top of Majuba Extension Ridge. I am looking forward to getting the analytical results from our recent RC drilling. The potential to extend the known oxide mineralization eastward on Majuba Extension Ridge is very promising for the project. The deep core holes planned for Phase 2 will help us outline the large scale potential that we think Majuba has."
About Majuba Hill Property
The Majuba Hill Property encompasses 4,822 acres of surface and mineral rights that includes 3 patented lode mining claims and 632 acres of privately owned surface and minerals. The property is easily accessed via 23 miles of well-maintained dirt roads leading from U.S. Interstate 80.
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. Drill core, RC chips, and rock samples are delivered by the company consulting geologist to the secure warehouse facility in Elko, Nevada. Drill core samples are sawn in half lengthwise and one half is placed in labeled cloth sample bags. All samples are then transported directly to the ALS Sample Prep Facility in Elko, Nevada. ALS will then transport the prepared pulps to their analytical lab in Reno, Nevada or Vancouver, B.C. All samples are analyzed for copper, gold, silver, and 31 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 drill samples are copper-gold-porphyry commercial standard reference material pulps, which are inserted in the analytical sample sequence. The sample rejects and remaining pulps will be retrieved from ALS.
Cancellation of Stock Options
The Company announces that it has cancelled an aggregate 3,370,000 incentive stock options, issued to various consultants and directors of the Company, between October 2019 to July 2020 at exercise prices ranging from $0.07 to $0.16 per share.
The Company further announces it plans to consolidate all of the Company's issued and outstanding common shares on the basis of ten (10) pre-consolidation shares for one (1) post-consolidated share.
Bam Bam currently has 54,141,510 common shares issued and outstanding and, upon the consolidation being completed, will have 5,414,151 common shares issued and outstanding. The Company does not intend to change its name in connection with the consolidation, although its CUSIP number and ISIN will change.
The Company will issue a further news release notifying shareholder as to when the effective date of the consolidation.
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: 4NPA) is engaged in the identification, review and acquisition of latter stage copper and copper/gold assets. With its flagship project being Majuba Hill copper gold project located 156 miles outside Reno, Nevada, USA. Management has been mandated to focus on safe, mining friendly jurisdictions and government regulations 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 C. Greenway
President & CEO
For further information, please contact:
P: (604) 318-0114
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.
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