The demand for copper is expected to grow nearly 600 percent to 5.4 million by 2030, according to Goldman Sachs. This rapidly growing demand for copper comes after copper futures hit the world’s highest prices in July 2021. Copper has a wide range of valuable market applications, including CO2 conversion, killing cancer cells, wind power and even the fight against COVID-19.
However, the majority of the demand growth for copper isn’t expected to come from those sectors –– it’s projected to come from the rise in electric vehicles. Specifically, a single electric vehicle requires 60 to 90 kilograms of copper compared to 23 kilograms for a gasoline-powered car. With the electric vehicle market expected to grow at a compound annual growth rate (CAGR) of 33.6 percent from 2020 to reach nearly $2.5 trillion by 2027, the associated copper market and its rising prices will likely be of significant interest to investors.
Bam Bam Resources Corp. (CSE: BBR / OTC: NPEZF / FSE: 4NPB) (“Bam Bam” or the “Company”) is a mineral company focused on acquiring, exploring, and developing a portfolio of highly prospective copper properties with high-grade potential in North America. The Company’s project is located in Nevada which is one of the top mining jurisdictions in the world and is led by a highly experienced management team with decades of experience in the finance and mining industries.
“Our best grade so far on the drill program that we ran last year is in the oxide copper – we got 2.4 percent (copper equivalent) from surface to 146 feet. That’s a significant hole and that’s a pretty significant starting point. So, we know that the oxide cap could potentially be quite rich and it has some pretty good depth as well. Now our plan is to define and increase the known mineralization in the oxide cap and publish an updated NI43-101 that will be released after the drill program is completed. “This will provide an updated report reflecting the improved understanding of the geology, size, and potential scale of the Majuba Hill Porphyry Copper System”, said VP of Communications, Joel Warawa.
The Company’s flagship Majuba Hill project is located in the mining-friendly region of Pershing County in Nevada in the United States and is 120 miles northeast of Tesla’s Giga factory. The project is a high-grade copper-silver porphyry deposit that also features gold mineralization. Majuba Hill also has a proven history of successful exploration and strong production throughout the years but is still considered to be largely unexplored.
Majuba Hill has outcropping oxide copper mineralization at the surface. The total potential for the project is over 1 billion tons of sulfide oxide mineralization with grades of 0.4 to 0.5 percent for copper, 10-14 g/t of silver and 0.17-0.25 g/t of gold. Surface sampling on Majuba Hill found copper as high as 7.1 percent and silver as high as 3 oz/t. Outcrop rock sampling also found 3 to 10 g/t of gold within the copper zones.
The Company completed a successful multi-phase drilling program on the Majuba Hill project in 2020. The extensive exploration drilling program outlined an oxide copper-silver mineralization body and additional new copper porphyry target areas with the potential to expand the mineralization. Results from this program point to a potentially large and economically significant underlying sulfide deposit.
In September 2021, the Company announced that it expanded its land position by more than 300 percent for the Majuba Hill project to a total size of 15.1 square miles or 39.2 square kilometres. This incredible accomplishment vastly increased the project’s tonnage potential from 500 million tons to over 1 billion tons. The Company strongly believes that Majuba Hill has the potential to be a district size property which could further increase the asset’s resource and overall value.
The Company is fully funded for its 2021 to 2022 expanded exploration program. The exploration program includes step-out and in-fill drilling to extend the tonnage of the oxide cap and expand the scale of the sulfide deposit. The soil sampling coverage has been increased by 100% with assay results currently pending. Going forward, Bam Bam plans to continue the systematic. Phased exploration with soil and rock sampling, geophysics, and drill results.
The flagship Majuba Hill is a high-grade copper-silver porphyry project that features gold. It is located in the mining-friendly region of Pershing County in Nevada in the United States. The project is located 120 miles northeast of Tesla’s Giga factory. Bam Bam controls 100 percent of the Majuba Hill Project with extensive mineral and surface rights held by private ownerships, patented mining claims, and Federal Lode Mining claims. The property is accessible all year round through roads and features a favourable physical setting and climate.
Majuba Hill has had historic exploration dating back to the early 1900s with production continuing into the 1950s. Historic production in and around the project includes 2.8 million pounds of copper, 184,000 ounces of silver, 21,000 pounds of tin, 5,800 ounces of gold as well as lead and zinc reported. Majuba Hill has outcropping copper mineralization in the oxide cap. Today, the total potential for the project is more than 1 billion tons of sulfide oxide mineralization at grades as high as 0.4-0.6 percent of copper, 10-14 g/t of silver and 0.17-0.25 g/t of gold based on historic drillings. Surface sampling on Majuba Hill found copper as high as 7.2 percent and silver as high as 3 oz/t.
Bam Bam has conducted drilling, wide spread Drone Magnetic surveys, 3D GIS modeling, rock and soil sampling and deep IP/Resistivity geophysics at Majuba Hill. The Company recently completed a multi-phase drilling program on the property in 2020 that identified an oxide copper-silver mineralization body and target areas with the potential to significantly expand the mineralization prospect. The 2021 to 2022 exploration program is currently underway, including soil sampling which has already begun and drilling which is set to begin shortly.
David Greenway brings more than two decades of experience in managing, financing and developing growth strategies for various TSX Venture Exchange- and Canadian Securities Exchange-listed companies. Greenway has been involved in acquisitions, business valuations, investor relations and his key expertise lies in the management and development of junior public resource companies, especially in the mining and oil and gas sectors. He has held directorships, senior management and business development positions. Greenway was the CEO of Stamper Oil & Gas Corp., Veritas Pharma Inc., Chief Consolidated Gold Mines, SNS Silver Corp., Moneta Resources Inc. and Sterling Mining Company. Greenway also held a board position at Mountain View Conservation Centre. Greenway attended University in Bournemouth in England where he studied accounting and finance.
Natasha Sever is a CPA in both Canada and Australia with a Bachelor of Commerce from Edith Cowan University. She joins the Company with more than 10 years of experience in senior finance roles over a wide range of industries, including mining, retail and technology. Sever has held officer positions at many publicly-listed companies in both Canada and Australia and has a proven record of working in alignment with and to the benefit of the board and associated stakeholders. Sever has extensive experience with company financings as well as Toronto Stock Exchange and Australian Securities Exchange regulatory compliance. This experience will serve to ensure the Company manages its affairs transparently and properly.
Joel Warawa has over 20 years of experience in public and private businesses as a financial and marketing consultant. Warawa;s experience includes business development, negotiations, mergers and acquisitions and increasing brand awareness in the commodities, automotive dealerships and mining sectors. Warawa assisted in productivity and efficiency with the largest automotive group in Canada at the dealership level, including Audi, BMW, Infiniti and Mercedes-Benz. He also has experience running successful businesses, including owning and operating multiple small businesses throughout Canada.
Kelly Pladson has provided corporate governance and regulatory compliance services to many TSX Venture and CSE listed companies since 2009. Pladson has also served as the corporate secretary at many of these companies. She works closely with the company’s CEO and legal counsel in maintaining corporate records, managing the day-to-day operations of the company and ensuring the company’s filings with the securities commissions and exchanges are accurately filed and by their deadlines. Before 2009, Pladson was an assistant to an investment advisor for two years.
Yari Nieken has an extensive range of public company and capital market experience. Nieken is a founder of Foremost Capital Inc. which is an exempt market dealer. Today, Nieken provides in-depth consulting for numerous publicly-listed issuers in the health care, mineral extraction, technology and wellness industry. Throughout the years, he has served as an officer of several public and private issuers, including holding board positions. His involvement in those companies led to numerous financings that raised substantial capital. He was formerly an investment adviser at Union Securities Corp. during which he gained significant knowledge in the public market. Nieken holds a Master of Business Administration (MBA) from the Sydney Graduate School of Management and a Bachelor of Arts (BA) from the University of British Columbia.
Bryson Goodwin is a practiced international executive with over 25 years of experience in finance, management, investor relations and operations with both private and public companies. Goodwin has an operational, market and banking track record in the resource, oil and gas, technology and biotechnology sectors. He has been engaged by many resource, energy, cleantech and technology firms, including holding “C” level executive positions in the resource and energy sectors. Goodwin also sits on the board of several public and private companies. He is well known for his early involvement and corporate turnaround of Klondex Mines. Goodwin held an instrumental role in the transition from explorer to producer of Klondex Mines as well as its finance and marketing.
Brad Dixon is an attorney based in Boise, Idaho and a partner with Givens Pursley LLP. He is the co-chair of the Givens Pursley Litigation Group and focuses his practice on a variety of complex commercial litigation matters. Dixon has 20 years of experience in trial procedures involving a variety of significant commercial disputes, including construction litigation, secured transactions, real estate, employment and natural resources. He is a graduate of Boise State University where he earned a Bachelor of Science in Political Science in 1997 with an emphasis on constitutional law and public policy. Dixon received his Juris Doctor from Willamette University College of Law in 2000 in Salem, Oregon.
John Ryan has been an active entrepreneur in the resources sector for over 20 years. He has extensive experience in the natural resource sector having served as either officer or director of companies such as Bunker Hill Mining, Premium Exploration, Cadence Resources, High Plains Uranium, U.S. Silver Corporation and Western Goldfields Inc. Ryan has public company expertise and extensive executive experience with start-up companies. Ryan also provides valuable insights regarding mining and other operations. Ryan obtained a B.S. in Mining Engineering from the University of Idaho in 1985 and a Juris Doctor from Boston College in 1992.
John Percival is an accomplished entrepreneur and board member of several private and public mining companies in Australia, Canada and the United States. Percival previously served as general manager of investments with Barclays Bank New Zealand Ltd. and was a successful fund manager where he managed over $450 million. Recently, he has played an integral role in raising over $100 million for resource investments in both Australia and New Zealand.
Percival has over 50 years of experience in the financial markets with a focus on mining. He is considered an expert and specialist in investment strategies with a special interest in precious metals, commodity markets and global investments. His experience and well-established network have assisted in funding numerous private and public mining companies. He is considered by many to be a “go-to” source for advice on mining assets globally.
Dr. Mike Ressel currently works with Mine Development Associates (MDA). MDA is a consulting company, a division of RESPEC, that conducts mineral resource studies for the mining industry. Before MDA, Ressel was an economic geologist and assistant professor for the Nevada Bureau of Mines and Geology at the University of Nevada, Reno (UNR). In these roles, Ressel led field-based studies and published numerous papers on ore deposits of the Great Basin, conducted quadrangle mapping, taught courses, advised graduate and undergraduate students in economic geology and engaged in extensive public service. Before UNR, Ressel spent more than 15 years working in mining and exploration. He was the chief geologist in North America at Newmont for several years. Before working at Newmont, Ressel worked in mine production and development as well as near-mine and generative exploration for Newmont, Kinross, and Victoria Resources in the Great Basin, Alaska and other parts of the U.S., Western Canada, Mexico, Africa and Australia. He also worked for 5 years in geotechnical and groundwater consulting. Ressel obtained his Ph.D. from UNR. He is a fellow with the Society of Economic Geologists and an AIPG certified professional geologist. Ressel is active in many professional geoscience and mining organizations.
Buster Hunsaker has been engaged in the exploration and evaluation of quality mineral deposits for 40 years in the Western United States, Mongolia and Argentina. In 1995, Hunsaker Inc. was formed as a full-service geological consulting business providing field services and all aspects of prospecting, early-stage exploration and project management for mineral exploration companies. Hunsaker Inc. has been retained by numerous junior Canadian mining and exploration companies as well as major Nevada gold companies, including Barrick Gold Corporation, Newmont Exploration, AngloGold Mining, Vista Gold and Kennecott. Before forming Hunsaker Inc., Hunsaker was employed by mid-size and major mining companies, including Newmont, Atlas Precious Metals and Echo Bay where he served as a project geologist, senior geologist, and chief mine geologist.
Bam Bam Resources Corp. (CSE: BBR) (CSE: BBR.WT) has announced a name and symbol change to Majuba Hill Copper Corp. (CSE: JUBA) (CSE: JUBA.WT) and a consolidation of its issued and outstanding common shares on the basis of one (1) post-consolidated common share for every ten (10) pre-consolidated common shares.
As a result, the outstanding shares of the company will be reduced to approximately 19,303,881 common shares.
The shares will begin trading on a consolidated basis and with a new name and CUSIP number on May 31, 2022.
Please note that all open orders will be cancelled at the end of business on May 30, 2022. Dealers are reminded to re-enter their orders taking into account the share consolidation.
_________________________________
Bam Bam Resources Corp. (CSE: BBR) (CSE: BBR.WT) a annoncé un changement de nom et de symbole pour Majuba Hill Copper Corp. (CSE: JUBA) (CSE: JUBA.WT) et une consolidation de ses actions ordinaires émises et en circulation sur la base d'une (1) action ordinaire post-consolidée pour dix (10 ) actions ordinaires pré-regroupées.
En conséquent, les actions en circulation de la société seront réduites à environ 19 303 881 actions ordinaires.
Les actions commenceront à être négociées sur une base consolidée et sous un nouveau nom et un nouveau numéro CUSIP le 31 mai 2022.
Veuillez noter que tous les ordres ouverts seront annulés à la fin des activités le 30 mai 2022. Il est rappelé aux concessionnaires de saisir à nouveau leurs ordres en tenant compte du regroupement d'actions.
| Trading on a Consolidated Basis/Négociation sur une base consolidée: | le 31 mai/May 2022 |
| Record Date/Date d'enregistrement: | le 1 juin/June 2022 |
| New Name/ Nouveau nom: | Majuba Hill Copper Corp. |
| New Symbol/ NOUVEAU symbole: | JUBA |
| NEW/NOUVEAU CUSIP: | 56086E 10 8 |
| NEW/NOUVEAU ISIN: | CA 56086E 10 8 8 |
| Old Symbol/Vieux symbole: | BBR |
| Old/Vieux CUSIP & ISIN: | 059359208/CA0593592086 |
| Effective Date/ Date effective : | le 31 mai/May 2022 |
| New Name/ Nouveau nom: | Majuba Hill Copper Corp. 14SEP2023 Warrants |
| New Symbol/ NOUVEAU symbole: | JUBA.WT |
| NEW/NOUVEAU CUSIP: | 56086E 11 6 |
| NEW/NOUVEAU ISIN: | CA 56086E 11 6 1 |
| Old Symbol/Vieux symbole: | BBR.WT |
| Old/Vieux CUSIP & ISIN: | 059359117/CA0593591179 |
If you have any questions or require further information please contact Listings at (416) 367-7340 or E-mail: Listings@thecse.com
Pour toute question ou information complémentaire, veuillez contacter Listings au 416 367-7340 ou par courriel à: Listings@thecse.com
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Bam Bam Resources Corp. (CSE: BBR) (OTC Pink: NPEZF) (FSE: 4NPB) ("Bam Bam" or the "Company") is pleased to announce that the expanded soil sampling program is underway for the Majuba Hill Project in Pershing County, Nevada. The program is designed to expand on the very encouraging results reported from the 2021 program (see Bam Bam News Release October 14, 2021). The 2021 soil sampling program expanded the DeSoto Copper Oxide Target and the Copper-Gold Target zones, however, the anomalous areas are still open to the northeast at the DeSoto and to the east of the Copper-Gold Target.
Figure 1
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David Greenway, President and CEO, commented: "The very-encouraging results from the newly-discovered DeSoto Copper Oxide and the Copper-Gold Target zones led us to roll out an expanded soil sampling program. The anomalous areas are still open to the northeast at the DeSoto and to the east of the Copper-Gold Target and I look forward to how much further this program will expand the already massive Majuba Hill copper, silver and gold district size asset."
About Majuba Hill
Copper mineralization at Majuba is centered within a large contiguous land position. Bam Bam has 100% control of the emerging Majuba Hill Copper District by private surface and mineral ownership, patented mining claims, and Federal Lode Mining claims. The property is in Nevada, a Tier 1 mining district that is the most mining friendly place in North America with well-developed transportation, power, and workforce infrastructure.
Majuba is easily reached by 23 miles of well-maintained roads leading from U.S. Interstate 80. The existing highways are sufficient for transportation of exploration-size heavy equipment. Development logistics will be able to use the 4 lane Interstate 80 highway, Union Pacific railroad tracks, as well as power, natural gas, and fiber optic transmission lines in the rail - highway corridor.
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.
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: jw@bambamresources.com
P: 1 (855) 475-0745
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.
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.
###
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Bam Bam Resources Corp. (CSE: BBR) (OTC Pink: NPEZF) (FSE: 4NPB) ("Bam Bam" or the "Company") is pleased to have signed a core drilling contract with Falcon Drilling, Inc. for the Majuba Hill Project in Pershing County Nevada. Falcon drilled at Majuba in 2020 and 2021. Drilling is planned to begin in mid-April.
Figure 1
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Approximately 4,000 meters (13,000 ft) is planned to drill deeper holes below the copper enriched Known Copper Oxide Zone and to extend the granodiorite footprint discovered in the Copper-Gold Target area.
David Greenway, President and CEO, commented: "This is a key development phase for Majuba Hill. I expect these deeper holes to expand the copper mineralization footprint and signify that Majuba can be a very significant source for world copper demands."
Project Infrastructure and Development
Copper mineralization at Majuba is centered within a large contiguous land position. Bam Bam has 100% control of the emerging Majuba Hill Copper District by private surface and mineral ownership, patented mining claims, and Federal Lode Mining claims. The property is in Nevada, a Tier 1 mining district that is the most mining friendly place in North America and has well developed transportation, power, and workforce infrastructure.
Majuba is easily reached by 23 miles of well-maintained roads leading from U.S. Interstate 80. The existing highways are sufficient for transportation of exploration-size heavy equipment. The Company has engaged EM Strategies-A Westland Resources Inc. Company provide long-range environmental planning services. Development logistics can use the 4 lane Interstate 80 highway, Union Pacific railroad tracks and power, natural gas, and fiber optic transmission lines in the rail - highway corridor.
Quality Assurance/Quality Control ("QA/QC") Measures, Chain of Custody
The Company has a QA/QC program using best industry practices in place at the Majuba Hill Project. The samples are transported from the BBR secure warehouse or directly from the project 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.
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.
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: jw@bambamresources.com
P: 1 (855) 475-0745
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.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117129
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Bam Bam Resources Corp. (CSE: BBR) (OTC Pink: NPEZF) (FSE: 4NPB) ("Bam Bam" or the "Company") is very pleased to have discovered a granodiorite porphyry underlying areas where the Company has drilled significant copper. The discovery strongly supports the large scale copper deposit emerging from the historic mining and recent drilling.
Cross Section 4502840N-Long Section Looking N09E
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Key Highlights:
is just above what is now known to be the same granodiorite making this a good indicator for potential sulfide copper grades.
Oxide copper in the enriched oxide zone are shown below on Section 4503040N.
Cross Section 4503040N Looking N30E
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David Greenway, President and CEO, commented: "We are thrilled about the discovery of granodiorite porphyry underlying areas with drill results of significant copper. This discovery strongly supports that Majuba Hill is a District size copper deposit with a billion-ton potential."
Results
Bam Bam drilled 4,541.4 meters (14,900 ft) in 15 RC holes and 859.4 meters (2,820 ft) in 2 core holes during the 2021 drilling program. All intervals were assayed for total copper that was determined using a four-acid digestion process and analyzed by ALS Method ME-ICP61.
Core holes MHB-20 and MHB-22 discovered the widespread extent of the granodiorite intrusive. The core holes were located to drill into the Copper-Gold soils Target which is coincident with a large remanently magnetic zone that surrounds the Rhyolite Intrusive Assemblage Rocks at Majuba Hill. A deep, northeast-trending Induced Polarization (IP) high also crosses the Copper-Gold Target.
Multiple overlapping porphyry alteration events that were identified throughout the previous drilling and historical work were noted also noted throughout the granodiorite core. In addition to widespread propylitic and phyllic alteration their appears to be extensive potassic alteration and magnetite bearing quartz veining. A second type of tourmaline has also been noted.
These all indicate the granodiorite is probably related to the magma chamber that produced the copper at Majuba Hill. The cross-cutting relationship of the granodiorite and the rhyolite intrusive rocks combined with the magnetic anomalies and the widespread IP geophysics indicate very high potential for a large, copper porphyry at Majuba Hill.
MHB-22 807 ft (245.9 m)
Left: Quartz-Pyrite/Pyrrhotite. Right: Dark zones with Secondary Biotite
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Development and Infrastructure
Copper mineralization at Majuba is centered within a large contiguous land position. Bam Bam has 100% control of the emerging Majuba Hill Copper District by private surface and mineral ownership, patented mining claims, and Federal Lode Mining claims. The Company has engaged EM Strategies-A Westland Resources Inc. Company provide long-range environmental planning services.
The property is in Nevada, a Tier 1 mining district that is the most mining friendly place in North America and has well developed transportation, power, and workforce infrastructure. Majuba is easily reached by 23 miles of well-maintained roads leading from U.S. Interstate 80. The existing highways are sufficient for transportation of exploration-size heavy equipment. Development logistics would use the 4 lane Interstate 80 highway, Union Pacific railroad tracks and power, natural gas, and fiber optic transmission lines in the rail - highway corridor.
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 project 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.
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: jw@bambamresources.com
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.
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Bam Bam Resources Corp. (CSE: BBR) (OTC Pink: NPEZF) (FSE: 4NPB) ("Bam Bam" or the "Company") is pleased to announce that all results have been received for the 2021 reverse circulation ("RC") and core holes. Copper, silver, molybdenum, zinc, and gold assays are very encouraging because they support the porphyry copper model that the Company has been developing.
Majuba Hill - Looking North
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Key Highlights:
Significant copper results are shown below on Cross Section 4503040N. It is oriented with the same view as the photo shown above and has a similar scale.
Cross Section 4503040N Looking N30E
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Bam Bam drilled 4,541.4 meters (14,900 ft) in 15 RC holes and 859.4 meters (2,820 ft) in 2 core holes. Results are listed for copper, silver, gold, molybdenum, and zinc on the table at the end of this news release. For each drill hole, the total, length-weighted average values of each element is shown. Significant intervals are also listed. These are based on zones with a minimum of 4.6 m (15 ft) with a minimum of 0.16% Cu. All assays are total copper and were determined using a four-acid digestion process and analyzed by ALS Method ME-ICP61.
Significant Results
The 2021 RC drilling program was designed to in-fill and extend the 2020 Bam Bam drilling and historic holes. Using 3D modeling and cross-sectional evaluation the company focused in the mineralized zones including MHB-2 with:
CuEq=Length-weighted silver converted to copper using US$17/oz Ag & US$2.50/lb. Cu
in the copper-enriched oxide zone. And historic drill hole MMX-24 with:
in the copper-enriched oxide and sulfide zone.
The total contained copper values for all the significant holes is very encouraging because everything drilled had copper. Pending future metallurgical work and resource modeling considerations these data will be parsed out using rigorous evaluation parameters.
MHB-10, and -24
Holes MHB-10 and MHB-24 returned results that are encouraging because the significant intervals filled in and tied together two 0.3% Cu grade shells constructed in 2020. The holes also outline a much larger plus 0.16% Cu zone (see Section 4503040N).
Significant gold from MHB-10 includes:
MHB-14, -15, -18, -21, and -23
Holes MHB-14, -15, -18, -21, and -23 are significant extension drill holes.
MHB-15 and MHB-21 extend the copper mineralization deeper (MHB-21) and northward (MHB-15). MHB-21 had some very high copper within a zone that returned:
MHB-14 and MHB-18 intersected mineralization shallower and west of the middle 0.3% Cu grade shell that the holes were targeting. These results outline more mineralization which will be included in the modeling and appear to tie together the middle copper zone with the historically mined mineral zones.
MHB-14 returned:
MHB-18 is within the high gold corridor and returned:
MHB-23 extended the 2020 0.3% Cu shell northward where it intersected:
MHB-17
Hole MHB-17 did not intersect the expected subvolcanic intrusive rock outcropping at the surface. However, the hole intersected significant intervals of copper and gold which may be pointing towards an additional near-surface zone of copper as well as a second gold corridor. MHB-17 results include:
MHB-20 and -22
Core holes MHB-20 and MHB-22 discovered the previously unknown intrusive. The holes were located to drill into the Copper-Gold soils Target which is coincident with a much larger anomalous remanent magnetic zone identified from the drone magnetic survey in 2021. A deep, northeast-trending Induced Polarization (IP) high also crosses the zone.
Initial reporting identified the intrusive as diorite intrusive. Detailed logging on sawn core clearly indicates that it is granodiorite intrusive. The rhyolite intrusive, which hosts mineralization in the historic mine areas at Majuba and drilled by the RC during 2021, have been logged in a cross-cutting relationship with the granodiorite. Ongoing-detailed logging, thin-section work, and detailed slab-core examination is in-progress to determine the exact relationship between the two intrusive types.
Multiple overlapping porphyry alteration events that have been identified throughout the previous drilling and historical work were noted throughout the granodiorite core. In addition to widespread propylitic and phyllic alteration their appears to be extensive potassic alteration and magnetite bearing quartz veining. Additionally, a second type of tourmaline has been noted. These all indicate the granodiorite is probably related to the magma chamber that produced the copper at Majuba Hill.
The relationship of the granodiorite and the rhyolite intrusives combined with the widespread IP geophysics indicate very high potential for a large, copper porphyry at Majuba Hill.
MHB-22 807 ft (245.9 m)
Left: Quartz-Pyrite/Pyrrhotite. Right: Dark zones with Secondary Biotite
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Summary Discussion of Results
The 2021 drilling results continue to expand on previous Bam Bam drilling and historic drill results. 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.
Mineralization is centered within a large contiguous land position. Bam Bam has 100% control of the emerging Majuba Hill Copper District by private ownership, patented mining claims, and Federal Lode Mining claims.
The property is in Nevada, a Tier 1 mining district that is the most mining friendly place in North America and has well developed transportation, power, and workforce infrastructure. Majuba is easily reached by 23 miles of well-maintained roads leading from U.S. Interstate 80. The existing highways are sufficient for transportation of exploration-size heavy equipment. Development logistics would use the 4 lane Interstate 80 highway, Union Pacific railroad tracks and power, natural gas, and fiber optic transmission lines in the rail - highway corridor.
David Greenway, President and CEO, commented: "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 demands."
Table of Significant Intercepts
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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 project 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.
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.
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: jw@bambamresources.com
P: 1 (855) 475-0745
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.
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.
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Key Points
Figure 1 – Maiden surface exploration targeting mineralisation extensions to depth of up to ~700m below surface
Highlights include 20.53g/t in LABS-22-02, which extends the Boucher lode by a significant 375m down- dip.
This follows the previously reported result of 44.12g/t in LABS-22-01, which was 125m down dip of the currently defined Front-West lode (Refer ASX Announcement 25 July 2022).
Drilling of phase one is now successfully complete, with 3,135m drilled across 5 holes in just 44 days, under budget and with no safety incidents.
Assays are pending for LABS-22-04 and LABS-22-05.
Quartz and pyritic mineralisation characteristic to Labyrinth has been observed across multiple lodes, with results confirming the mineralisation extends up to 375m down dip and to a depth of ~550m below surface, remaining open at depth and along strike.
Labyrinth is on track to publish its maiden JORC Resource next month. These latest assays and those pending will form part of a subsequent Resource update.
Labyrinth Chief Executive Matt Nixon said: “These are outstanding results which highlight the scope for substantial growth in the deposit, both along strike and at depth.
“We are in the throes of finalising our maiden JORC Resource and already we have established substantial mineralisation which sits outside these parameters, paving the way for a subsequent Resource update.
“We have barely scratched the surface at Labyrinth compared with the drilling completed at other major deposits in the Abitibi region. The scale of these endowments shows the upside we have at Labyrinth”.
Click here for the full ASX Release
This article includes content from Labyrinth Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
A maiden Inferred JORC Mineral Resource of 9.9Mt @ 1.14% Li2O and 49 Ta2O5 ppm^ was previously announced on 17 February 2022. The 5km x 1.5km pegmatite system at Manna is open in all directions. A Mineral Resource update for the Manna Lithium Project is expected following the drilling program and metallurgical test work in Q4 2022.
Breaker retains a 20% free-carried interest in the Manna Lithium Project with Global Lithium carrying all costs and expenditure to completion of a positive bankable feasibility study (BFS). Breaker is also entitled to milestone payments of up to $20 million.
On behalf of the Board of Directors,
Tom Sanders
Managing Director
Click here for the full ASX Release
This article includes content from Breaker Resources NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
First Drill Program After ASX Listing Extends High-Grade Gold Mineralisation in Oxide Material
Sarama Resources Ltd. ("Sarama" or the "Company") (ASX:SRR, TSX-V:SWA) is pleased to announce that assays returned from an initial 1,700m drilling of the ongoing +50,000m program at its 100%-owned(4), multi-million ounce Sanutura Project (the "Project") have extended gold mineralisation in several directions at the Obi Prospect (refer Figure 1) and discovered a new trend for exploration
The drilling has delineated an extensive zone of flat-lying mineralisation in shallow, oxide material which extends approximately 950m along strike and up to 300m down-dip with mineralisation remaining open down-dip. These results deliver one of the Company's near-term objectives of growing the oxide component of the Project's already large Mineral Resource of 0.6Moz Au (Indicated) plus2.3Moz Au (Inferred)(1).
Exploration potential in the area has also been enhanced with the emergence of a new target area immediately along strike to the north-east, which is untested for approximately 1.8km. The Company anticipates drilling its highest priority targets and commencing regional greenfields exploration early in the next field season commencing Q4 2022.
Highlights
Sarama's President, CEO & MD, Andrew Dinning commented:
"We are very excited by these first drill results at the Obi Prospect which have defined extensive and shallow, oxide-hosted gold mineralisation in single and multiple higher-grade zones.
This drilling has extended a previously minor zone to approximately 950m in length with a further 1.8km of strike potential yet to be tested. The tenor and flat-lying nature of this mineralisation suggests a different mineralising event to the sub-vertical, lower-tenor gold lodes seen in this local area and it has led us to a new target model reminiscent of Endeavour Mining's flat-lying Kari Pump and Boungou Deposits in Burkina Faso.
With further drill results to come, we look forward to providing a series of updates over the coming months.
Sarama's approximate market capitalization of A$20M(6) presents a deeply discounted valuation for the Project's Mineral Resource base of 0.6Moz Au (Indicated) plus2.3Moz Au (Inferred)(1), even more so considering that the current drill program is anticipated to yield a significant increase."
Webinar:
For more context, please join CEO Andrew Dinning in a live event on August 10th at 9am EST / 9 pm AWST. Q&A will follow the brief presentation. Click here to register:https://my.6ix.com/INN0fY27
Growth-Oriented Drill Program in Oxide Material
An Already Large Mineral Resource with Potential to Grow
The Company's primary focus is its 100%-owned(4) Sanutura Project, which hosts a large Mineral Resource of 0.6Moz Au (Indicated) plus 2.3Moz Au (Inferred)(1), covers an area of 1,420km2 and occupies a commanding position along 70km of strike in the prolific Houndé Belt (refer Figure 1).
The Project lies 60km south of Endeavour Mining's Houndé Mine (5Moz Au); 120km south of Fortuna Silver's high-grade Yaramoko Mine (1Moz Au), and 140km south of Endeavour Mining's Mana Mine (5Moz Au), highlighting the significant gold endowment of the Houndé Belt (refer Appendix B). Endeavour Mining's Bantou Project (1.5Moz Au Inferred Mineral Resource(5)) is located only 6km from the bulk of the Sanutura Project's main deposit, which illustrates the gold camp scale of endowment in the immediate area.
The Project has significant growth potential available and the primary objective of the current +50,000m drill program is to add to the existing 0.2Moz Au (Indicated) plus 0.8Moz Au (Inferred)(2) oxide and transition component of the Project's Mineral Resource to enhance the economics of mine development.
The recently commenced drill program has initially focused on the Obi Prospect, located in the southern part of the Project where drilling is sparse and potential exists to expand the Mineral Resource at shallow depths in oxide material.
Figure 1 -Sanutura Project Location Plan
Drilling Delivers Extensions to Mineral Resource at Obi Prospect
Results are being reported (refer Appendix A) for approximately 700m of aircore ("AC") drilling (15 holes) and 1,000m of reverse-circulation ("RC") drilling (13 holes) which commenced in May 2022 in the south-western part of the Obi Prospect. This area hosts gold mineralisation in multiple flat-dipping lenses which now extend for a strike length of approximately 950m (refer Figure 2). The lenses occur near-surface and the area is considered a prime target for exploration to add to the existing 0.2Moz (Indicated) plus 0.8Moz Au (Inferred)(2)oxide and transition component of the Project's Mineral Resource.
Figure 2 - Obi Prospect - Drilling & Mineralisation Plan
Mineralisation in the area presents as gold-quartz veins, which is significantly different to the more densely drilled areas of the deposit, illustrating diversity in both the geometry and composition of the gold-bearing lodes. The recent drilling follows-up on previously reported (refer Appendix B), high-tenor downhole intersections occurring in oxide material which include:
Recently returned assay results support the interpreted geometry of the flat, easterly-dipping mineralised lodes and have delivered down-dip and up-dip extensions to mineralisation of up to 100m and 40m respectively (refer Figures 2 and 3). Several new strong downhole intersections in the lower extremity, all occurring in oxide material, include:
Figure 3 -Southern Obi Prospect - Drilling Cross Section A-A' (View to North-East)
Given the shallow position of the mineralisation, these intersections present a compelling target for further down-dip extensions to be tested in future drilling. This is of particular interest as the flat-dipping mineralisation can be projected to intersect a series of steeply dipping lodes to the east; the confluence of which potentially hosts a localised enrichment zone caused by multiple overprinting phases of gold emplacement.
Of note is the significant increase in the vertical depth of the highly weathered oxide zone intersected by drilling to approximately 80m, which is anomalous to that observed in the broader deposit (50m). This increased depth is expected to enhance economics for any contemplated mine development.
Adding to the attraction of the area for further exploration is the presence of multiple separate intersections within individual holes and significantly broader intersections than expected in certain areas (refer Figures 2 and 3). These intersections suggest potential for additional mineralised lodes to occur in close proximity to the main, flat-dipping mineralisation.
A New Exploration Horizon in the North-East
The recently returned results have validated and given substance to the Company's interpretation of the mineralised system in the south-west of the Obi Prospect, which has been developed over an extended period. In addition to yielding meaningful extensions to the existing mineralisation in the dip direction, the drilling has extended the mineralised lodes a further 100m along strike in a north-easterly direction, giving a total strike length of 950m.
Of note is the abundance of high-tenor intersections in the north-eastern extremity of this strike length, which are commonly associated with a thickening of the lode(s) and the suggested presence of additional mineralised lodes from multiple intersections in single drillholes. Together, these features suggest a strengthening of the mineralised system in the north, which bodes well for future exploration given the absence of drilling for approximately 1.8km along strike (refer Figure 4).
This new target area broadly sits within the main mineralised corridor of the Project proximal to the well-defined, north-north-east striking lodes of the Mineral Resource. The area has been covered by a conventional soil geochemical survey grid and several zones of elevated gold-in-soil values have been returned within a generally mottled signature resulting from a variable and disrupted regolith. This environment can produce ambiguous surface geochemistry results, giving potential for blind and semi-blind mineralisation to be present.
The Company plans to conduct detailed surface prospecting and other target generation work in the area to better define targets which are anticipated to be tested by reconnaissance drilling in Q4 2022.
Figure 4 - Untested Trend Extents for 1.8km to North-East (Oblique View)
Appendices
To access the appendices referred to in this announcement please click on the links below
Appendix A: Summary of Recently Drilled Results
Appendix B: References to Previous ASX Disclosure
Appendix C: JORC Code (2012 Edition) - Table 1 Information
For further information on the Company's activities, please contact:
Andrew Dinning or Paul Schmiede
e: info@saramaresources.com
t: +61 8 9363 7600
For media enquiries, please contact:
Angela East
Media & Capital Partners
e: Angela.east@mcpartners.com.au
t: +61 428 432 025
ABOUT Sarama Resources LTD
Sarama Resources Ltd (ASX:SRR, TSX-V:SWA) is a West African focused gold explorer/developer with substantial landholdings in south-west Burkina Faso. Sarama is focused on maximising the value of its strategic assets and advancing its key projects towards development.
Sarama's 100%-owned(4) Sanutura Project is principally located within the prolific Houndé Greenstone Belt in south-west Burkina Faso and is the exploration and development focus of the Company. The project hosts the Tankoro and Bondi Deposits which have a combined Mineral Resource of 0.6Moz gold (Indicated) plus2.3Moz gold (Inferred)(1).
Together, the deposits present a potential mine development opportunity featuring an initial, long-life CIL project which may be established and paid for by the significant oxide Mineral Resource base.
Sarama has built further optionality into its portfolio including an approximate 470km² exploration position in the highly prospective Banfora Belt in south-western Burkina Faso. The Koumandara Project hosts several regional-scale structural features and trends of gold-in-soil anomalism extending for over 25km along strike.
Sarama also holds an approximate 18% participating interest in the Karankasso Project Joint Venture ("JV") which is situated adjacent to the Company's Sanutura Project in Burkina Faso and is a JV between Sarama and Endeavour Mining Corp ("Endeavour") in which Endeavour is the operator of the JV. In February 2020, an updated Mineral Resource estimate of 709koz gold(3) was declared for the Karankasso Project JV.
The Company's Board and management team have a proven track record in Africa and a strong history in the discovery and development of large-scale gold deposits. Sarama is well positioned to build on its current success with a sound strategy to surface and maximise the value of its property portfolio.
FOOTNOTES
CAUTION REGARDING FORWARD LOOKING INFORMATION
Information in this news release that is not a statement of historical fact constitutes forward-looking information. Such forward-looking information includes, but is not limited to, statements regarding the Company's future exploration and development plans, the potential for the Sanutura and Karankasso Projects to host economic mineralisation, the potential to expand the existing estimated Mineral Resources at the Sanutura Project (including the present oxide and transition component), the potential to extend and add to existing mineralisation at the Obi Prospect, the potential for the receipt of regulatory approvals and the timing and prospects for the issuance of the arrêtés for the Tankoro 2 and Djarkadougou 2 Exploration Permits by the Government of Burkina Faso. Actual results, performance or achievements of the Company may vary from the results suggested by such forward-looking statements due to known and unknown risks, uncertainties and other factors. Such factors include, among others, that the business of exploration for gold and other precious minerals involves a high degree of risk and is highly speculative in nature; Mineral Resources are not mineral reserves, they do not have demonstrated economic viability, and there is no certainty that they can be upgraded to mineral reserves through continued exploration; few properties that are explored are ultimately developed into producing mines; geological factors; the actual results of current and future exploration; changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents.
There can be no assurance that any mineralisation that is discovered will be proven to be economic, or that future required regulatory licensing or approvals will be obtained. However, the Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Assumptions have been made regarding, among other things, the Company's ability to carry on its exploration activities, the sufficiency of funding, the timely receipt of required approvals, the price of gold and other precious metals, that the Company will not be affected by adverse political events, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain further financing as and when required and on reasonable terms. Readers should not place undue reliance on forward-looking information.
Sarama does not undertake to update any forward-looking information, except as required by applicable laws.
QUALIFIED PERSONS' STATEMENT
Scientific or technical information in this disclosure that relates to the preparation of the Mineral Resource estimate for the Sanutura Project is based on information compiled or approved by Paul Schmiede. Paul Schmiede is an employee of Sarama Resources Ltd and is a Fellow in good standing of the Australasian Institute of Mining and Metallurgy. Paul Schmiede has sufficient experience which is relevant to the commodity, style of mineralisation under consideration and activity which he is undertaking to qualify as a Qualified Person under National Instrument 43-101. Paul Schmiede consents to the inclusion in this news release of the information, in the form and context in which it appears.
Scientific or technical information in this disclosure that relates to exploration activities at the Sanutura Project is based on information compiled or approved by Guy Scherrer. Guy Scherrer is an employee of Sarama Resources Ltd and is a member in good standing of the Ordre des Géologues du Québec and has sufficient experience which is relevant to the commodity, style of mineralisation under consideration and activity which he is undertaking to qualify as a Qualified Person under National Instrument 43-101. Guy Scherrer consents to the inclusion in this disclosure of the information, in the form and context in which it appears.
Scientific or technical information in this disclosure that relates to the quotation of the Karankasso Project's Mineral Resource estimate and exploration activities is based on information compiled by Paul Schmiede. Paul Schmiede is an employee of Sarama Resources Ltd and is a Fellow in good standing of the Australasian Institute of Mining and Metallurgy. Paul Schmiede has sufficient experience which is relevant to the commodity, style of mineralisation under consideration and activity which he is undertaking to qualify as a Qualified Person under National Instrument 43-101. Paul Schmiede consents to the inclusion in this disclosure of the information, in the form and context in which it appears. Paul Schmiede and Sarama have not independently verified Semafo's (now Endeavour's) Mineral Resource estimate and take no responsibility for its accuracy.
COMPETENT PERSONS' STATEMENT
The Mineral Resource estimates referred to in this disclosure were first disclosed in accordance with ASX Listing Rule 5.8 in the Company's ASX Prospectus dated 11 March 2022. The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX Prospectus and that all material assumptions and technical parameters underpinning the estimates in the ASX Prospectus continue to apply and have not materially changed.
The new Exploration Results reported in this disclosure are based on, and fairly represent, information and supporting documentation prepared by Guy Scherrer. Guy Scherrer is an employee of Sarama Resources and a member of the Ordre des Géologues du Québec. Guy Scherrer has provided their prior written consent as to the form and context in which the new Exploration Results and the supporting information are presented in this disclosure.
The previously reported Exploration Results referred to in this disclosure were first disclosed in accordance with ASX Listing Rule 5.7 in the Company's ASX disclosure listed in Appendix B. The Company confirms that it is not aware of any new information or data that materially affects the information included in those previous items of disclosure.
This announcement has been authorised by the Board of Sarama Resources. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. |
SOURCE: Sarama Resources Ltd.
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Tempus Resources Ltd ("Tempus" or "the Company") (ASX:TMR)(TSXV:TMRR)(OTCQB:TMRFF) is pleased to announce assay results for the first three drill-holes completed at the Elizabeth Gold Project during the 2022 season
HIGHLIGHTS
Tempus Resources, President and CEO, Jason Bahnsen, commented "We have a phenomenal start, with drill-hole EZ-22-03 reporting the highest grade intersections we've ever seen at Elizabeth! The spectacular grades are a cause for celebration given the Blue Vein was only discovered late last year but what's potentially more important is that every hole had multiple gold intersections spaced relatively close together. This indicates potential for stacked high-grade vein mineralisation within a wider Blue Vein structure."
Drilling to date shows that the Blue Vein is not a single structure. Each of the drill-holes being reported today (EZ-22-01, EZ-22-02 and EZ-22-03) successfully hit Blue Vein gold mineralisation in multiple sub parallel closely spaced intersections demonstrating the potential for multiple stacked high-grade gold vein mineralisation within a wider Blue Vein structure.
The Blue Vein was discovered in late-2021 (EZ-21-12 including 1.0m at 33.7g/t gold), with assay results now received for 10 holes intersecting the vein to date (including four holes with ‘bonanza' grade intersections, i.e., greater than 1oz per tonne), high-grade gold mineralisation has now been defined over a strike length of over 100 metres. The 2022 drilling is testing the Blue Vein structure over a total strike length of approximately 400 metres.
Table 1 - Assay results being reported today (drill-holes EZ-22-01 to EZ 22-03)
Hole ID | From (m) | To (m) | Interval (m) | True Thickness (m)* | Gold Grade (g/t Au) |
EZ-22-01 | 123.90 | 124.70 | 0.80 | 0.68 | 2.1 |
and | 125.90 | 126.00 | 0.10 | 0.08 | 3.8 |
and | 161.42 | 161.82 | 0.40 | 0.34 | 2.3 |
EZ-22-02 | 147.65 | 147.83 | 0.18 | 0.15 | 6.9 |
and | 185.25 | 185.85 | 0.60 | 0.51 | 1.9 |
EZ-22-03 | 96.91 | 97.33 | 0.42 | 0.36 | 523.0 |
and | 124.02 | 124.47 | 0.45 | 0.38 | 32.7 |
incl | 124.02 | 124.13 | 0.11 | 0.09 | 133.0 |
and | 164.41 | 166.14 | 1.73 | 1.47 | 7.4 |
incl | 165.41 | 166.14 | 0.73 | 0.62 | 17.4 |
*true thickness is estimated using a multiplier of 0.85.
**The Company considers anything over 0.2 g/t gold as significant.
Image 1: Blue Vein drill-hole EZ-22-03 core with assay results overlain
See Figures 1 and 2 for drill-hole locations in plan view and long section. See Appendix 1 and Appendix 2 for detailed information on drill holes and sampling techniques.
Figure 1 - Elizabeth plan view showing 2022 drill-hole locations
Figure 2 - Elizabeth Blue Vein long section (looking northwest)
This announcement has been authorised by the Board of Directors of Tempus Resources Limited.
Competent Persons Statement
Information in this report relating to Exploration Results is based on information reviewed by Mr. Sonny Bernales, who is a Member of the Engineers and Geoscientists British Columbia (EGBC), which is a recognised Professional Organisation (RPO), and an employee of Tempus Resources. Mr. Bernales has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves, and as a Qualified Person for the purposes of NI43-101. Mr. Bernales consents to the inclusion of the data in the form and context in which it appears.
For further information:
Tempus Resources LTD
Melanie Ross - Director/Company Secretary Phone: +61 8 6188 8181
About Tempus Resources Ltd
Tempus Resources Ltd ("Tempus") is a growth orientated gold exploration company listed on ASX ("TMR") and TSX.V ("TMRR") and OTCQB ("TMRFF") stock exchanges. Tempus is actively exploring projects located in Canada and Ecuador. The flagship project for Tempus is the Blackdome-Elizabeth Project, a high grade gold past producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Blackdome-Elizabeth that will form the basis of an updated NI43-101/JORC resource estimate. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in south east Ecuador. The Rio Zarza project is located adjacent to Lundin Gold's Fruta del Norte project. The Valle del Tigre project is currently subject to a sampling program to develop anomalies identified through geophysical work.
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Tempus's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the ability of Tempus to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Tempus to control or predict, that may cause Tempus' actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein and the other risks and uncertainties disclosed under the heading "Risk and Uncertainties" in the Company's Management's Discussion & Analysis for the quarter and nine months ended March 31, 2022 dated May 16, 2022 filed on SEDAR. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Tempus believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements.
The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Tempus does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Tempus or persons acting on its behalf are expressly qualified in its entirety by this notice.
Neither the ASX Exchange, the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Appendix 1
Table 1:Drill Hole Collar Table
UTM | UTM | ||||||
| Hole ID | Target | Easting (NAD83 | Northing (NAD83 | Elevation (m) | Length (m) | Azimuth | Dip |
Z10) | Z10) | ||||||
| EZ-21-01 | SW Vein | 531203 | 5653771 | 2400 | 105 | 121 | -52 |
| EZ-21-02 | SW Vein | 531203 | 5653771 | 2400 | 132 | 146 | -55 |
| EZ-21-03 | SW Vein | 531203 | 5653771 | 2400 | 111 | 158 | -47 |
| EZ-21-04 | SW Vein | 531203 | 5653771 | 2400 | 135 | 168 | -58 |
| EZ-21-05 | SW Vein | 531078 | 5653776 | 2400 | 561 | 123 | -48 |
| EZ-21-06 | SW Vein | 531078 | 5653776 | 2400 | 255 | 110 | -55 |
| EZ-21-07 | SW Vein | 531203 | 5653771 | 2400 | 126 | 115 | -75 |
| EZ-21-07b | SW Vein | 531203 | 5653771 | 2400 | 186 | 115 | -75 |
| EZ-21-08 | SW Vein | 531195 | 5653839 | 2427 | 231 | 115 | -68 |
| EZ-21-09 | SW Vein | 531200 | 5654020 | 2330 | 360 | 120 | -48 |
| EZ-21-10 | SW Vein | 530953 | 5653772 | 2390 | 354 | 127 | -50 |
| EZ-21-11 | SW Vein | 530953 | 5653772 | 2390 | 381 | 136 | -50 |
| EZ-21-12 | SW Vein | 530953 | 5653772 | 2390 | 375 | 125 | -45 |
| EZ-21-13 | SW Vein | 530919 | 5653596 | 2300 | 261 | 94 | -45 |
| EZ-21-14 | SW Vein | 530919 | 5653596 | 2300 | 261 | 108 | -55 |
| EZ-21-15 | SW Vein | 530919 | 5653596 | 2300 | 330 | 100 | -55 |
| EZ-21-16 | SW Vein | 530919 | 5653596 | 2300 | 330 | 83 | -48.5 |
| EZ-21-17 | SW Vein | 530919 | 5653596 | 2300 | 414 | 98 | -63 |
| EZ-21-18 | SW Vein | 530919 | 5653596 | 2300 | 351 | 128.5 | -63 |
| EZ-21-19 | SW Vein | 530953 | 5653772 | 2390 | 417 | 129 | -58 |
| EZ-21-20 | SW Vein | 530849 | 5653432 | 2260 | 300 | 129 | -45 |
| EZ-21-21 | East Veins | 531695 | 5653463 | 2120 | 357 | 90 | -45 |
| EZ-21-22 | SW Vein | 531195 | 5653839 | 2427 | 188 | 75 | -45 |
| EZ-21-23 | SW Vein | 531695 | 5653463 | 2120 | 165 | 91 | -45 |
| EZ-21-24 | Blue Vein | 530953 | 5653772 | 2390 | 219 | 84 | -54 |
| EZ-21-25 | Blue Vein | 530953 | 5653772 | 2390 | 201 | 105 | -58 |
| EZ-21-26 | Blue Vein | 530953 | 5653772 | 2390 | 198 | 95 | -45 |
| EZ-21-27 | Blue Vein | 530953 | 5653772 | 2390 | 195 | 150 | -60 |
| EZ-21-28 | No.9 Vein | 530953 | 5653772 | 2390 | 321 | 300 | -55 |
UTM | UTM | ||||||
| Hole ID | Target | Easting (NAD83 | Northing (NAD83 | Elevation (m) | Length (m) | Azimuth | Dip |
Z10) | Z10) | ||||||
| EZ-22-01 | Blue Vein | 530953 | 5653772 | 2400 | 222 | 130 | -65 |
| EZ-22-02 | Blue Vein | 531203 | 5653772 | 2400 | 225 | 108 | -65 |
| EZ-22-03 | Blue Vein | 531203 | 5653772 | 2400 | 198 | 95 | -50 |
| EZ-22-04 | Blue Vein | 531200 | 5653774 | 2400 | 375 | 290 | -55 |
| EZ-22-05 | Blue Vein | 531130 | 5653775 | 2393 | 156 | 280 | -45 |
| EZ-22-06 | Blue Vein | 531130 | 5653775 | 2399 | 237 | 290 | -55 |
| EZ-22-07 | Blue Vein | 531130 | 5653775 | 2399 | 216 | 298 | -45 |
| EZ-22-08 | Blue Vein | 531039 | 5653887 | 2399 | 120 | 135 | -50 |
EZ-22-09 | Blue & SW Vein | 530953.1 | 5653772 | 2422 | 468 | 100 | -53 |
EZ-22-10 | Blue Vein | 530953.1 | 5653772 | 2392 | 210 | 95 | -65 |
EZ-22-11 | Blue Vein | 531039 | 5653887 | 2422 | 207 | 110 | -60 |
EZ-22-12 | Blue Vein | 531039 | 5653887 | 2422 | 216 | 85 | -50 |
EZ-22-13 | Blue Vein | 531039 | 5653887 | 2422 | 251 | 123 | -65 |
EZ-22-14 | Blue Vein | 531004 | 5653896 | 2428 | 249 | 140 | -65 |
EZ-22-15 | Blue Vein | 531004 | 5653896 | 2428 | 240 | 130 | -65 |
EZ-22-16 | Blue Vein | 531004 | 5653896 | 2428 | 242 | 120 | -65 |
EZ-22-17 | Blue Vein | 531004 | 5653896 | 2428 | 251 | 160 | -65 |
EZ-22-18 | Blue Vein | 531004 | 5653896 | 2428 | 258 | 150 | -65 |
Table 2: Significant Interval Table
Hole ID | From (m) | To (m) | Interval (m) | True Thickness (m) | Gold Grade | MET Screen Grade | Vein |
EZ-21-01 | 94.00 | 96.60 | 2.60 | 2.21 | 4.60 | 5.12 | SW Vein |
and | 83.50 | 84.00 | 0.50 | 0.43 | 20.50 | pending | SW Vein |
EZ-21-02 | 102.40 | 109.00 | 6.60 | 5.61 | 8.40 | pending | SW Vein |
including | 105.40 | 106.50 | 1.10 | 0.93 | 46.30 | pending | SW Vein |
EZ-21-03 | 88.60 | 95.00 | 6.40 | 5.44 | 7.22 | pending | SW Vein |
including | 89.30 | 91.90 | 2.60 | 2.21 | 11.80 | pending | SW Vein |
and | 90.00 | 91.30 | 1.30 | 1.11 | 19.80 | pending | SW Vein |
and | 34.70 | 35.20 | 0.50 | 0.43 | 3.15 | pending | SW Vein |
EZ-21-04 | 122.00 | 126.00 | 4.00 | 3.40 | 31.20 | 34.40 | SW Vein |
including | 123.00 | 124.50 | 1.50 | 1.28 | 52.10 | 68.30 | SW Vein |
including | 124.00 | 124.50 | 0.50 | 0.43 | 72.00 | 87.30 | SW Vein |
EZ-21-05 | 134.00 | 135.00 | 1.00 | 0.85 | 1.38 | Not Preformed | 7 Vein |
217.55 | 218.25 | 0.70 | 0.59 | 1.74 | 1.67 | SW Vein | |
and | 256.00 | 256.50 | 0.50 | 0.43 | 1.03 | 0.89 | SW Vein |
and | 554.85 | 555.35 | 0.50 | 0.43 | 0.24 | Not Preformed | West Vein |
EZ-21-06 | 134.50 | 136.00 | 1.50 | 1.28 | 1.10 | 1.71 | 7 Vein |
and | 245.00 | 246.00 | 1.00 | 0.85 | 2.05 | 2.45 | SW Vein |
EZ-21-07 | Hole lost | ||||||
EZ-21-07B | 40.10 | 41.10 | 1.00 | 0.85 | 4.88 | Not Preformed | 7 Vein |
and | 51.50 | 52.20 | 0.70 | 0.60 | 9.06 | Not Preformed | 7 Vein |
and | 160.00 | 165.75 | 5.75 | 4.89 | 0.53 | 0.70 | SW Vein |
EZ-21-08 | 196.25 | 202.40 | 6.15 | 5.23 | 0.65 | 0.66 | SW Vein |
and | 226.60 | 227.10 | 0.50 | 0.43 | 1.54 | 1.85 | SW Vein |
EZ-21-09 | 58.60 | 59.10 | 0.50 | 0.43 | 0.31 | Not Preformed | Blue Vein |
and | 270.90 | 272.90 | 2.00 | 1.70 | 2.56 | Not Preformed | SW Vein |
and | 355.88 | 357.00 | 1.12 | 0.95 | 0.85 | Not Preformed | SW Vein |
EZ-21-10 | 223.00 | 223.50 | 0.50 | 0.43 | 4.04 | Not Preformed | 7 Vein |
and | 347.70 | 349.20 | 1.50 | 1.28 | 0.22 | 0.21 | SW Vein |
EZ-21-11 | 326.90 | 327.40 | 0.50 | 0.43 | 0.55 | 0.44 | SW Vein |
EZ-21-12 | 117.80 | 118.80 | 1.00 | 0.85 | 47.6 | 33.7 | Blue Vein |
and | 130.70 | 131.20 | 0.50 | 0.43 | 26.4 | Not Preformed | Blue Vein |
and | 163.90 | 164.40 | 0.50 | 0.43 | 5.50 | 8.41 | Blue Vein |
and | 344.90 | 347.00 | 2.10 | 1.79 | 0.78 | 1.22 | SW Vein |
EZ-21-13 | 230.70 | 232.60 | 1.90 | 1.62 | 0.76 | 0.71 | SW Vein |
Hole ID | From (m) | To (m) | Interval (m) | True Thickness (m) | Gold Grade | MET Screen Grade | Vein |
EZ-21-14 | 224.00 | 224.90 | 0.90 | 0.77 | 1.63 | 1.15 | SW Vein |
EZ-21-15 | 318.40 | 320.80 | 2.40 | 2.04 | 0.31 | Not Preformed | SW Vein |
including | 320.30 | 320.80 | 0.50 | 0.43 | 1.14 | Not Preformed | SW Vein |
EZ-21-16 | 305.00 | 306.90 | 1.90 | 1.61 | 0.55 | Not Preformed | SW Vein |
EZ-21-17 | 171.00 | 171.50 | 0.50 | 0.43 | 0.14 | 0.57 | Vein |
and | 204.00 | 204.60 | 0.60 | 0.51 | 0.53 | Not Preformed | vein |
and | 254.60 | 256.85 | 2.25 | 1.91 | 1.40 | 1.58 | 7 Vein |
and | 350.13 | 350.75 | 0.62 | 0.53 | 1.01 | Not Preformed | SW Vein |
and | 379.47 | 382.00 | 2.53 | 2.15 | 0.63 | 0.64 | SW Vein |
EZ-21-18 | 299.50 | 299.90 | 0.40 | 0.34 | 1.53 | Not Preformed | SW Vein |
EZ-21-19 | 127.50 | 128.00 | 0.50 | 0.43 | 4.52 | Not Preformed | Blue Vein |
and | 129.00 | 130.50 | 1.50 | 1.28 | 4.25 | Not Preformed | Blue Vein |
and | 167.80 | 168.70 | 0.90 | 0.76 | 4.50 | 6.14 | Blue Vein |
and | 351.80 | 354.90 | 3.10 | 2.63 | 0.34 | Not Preformed | SW Vein |
EZ-21-20 | NSI** | ||||||
EZ-21-21 | 184.00 | 186.00 | 2.00 | 1.70 | 1.03 | Not Preformed | unknown |
and | 263.45 | 264.30 | 0.85 | 0.72 | 1.34 | Not Preformed | unknown |
EZ-21-22 | 175.55 | 176.70 | 1.15 | 0.98 | 1.60 | 2.50 | SW Vein |
EZ-21-23 | 145.00 | 149.10 | 4.10 | 3.48 | 1.11 | 1.83 | SW Vein |
including | 147.50 | 148.20 | 0.70 | 0.59 | 1.08 | 4.98 | SW Vein |
EZ-21-24 | 139.80 | 141.00 | 1.20 | 1.02 | 0.58 | 0.58 | Blue Vein |
and | 181.70 | 182.65 | 0.95 | 0.81 | 0.85 | 0.84 | Blue Vein |
EZ-21-25 | 111.00 | 113.70 | 2.70 | 2.30 | 13.4 | Not Preformed | Blue Vein |
including | 111.50 | 112.00 | 0.50 | 0.43 | 71.3 | Not Preformed | Blue Vein |
EZ-21-26 | 121.45 | 122.70 | 1.25 | 1.06 | 9.13 | Not Preformed | Blue Vein |
including | 121.45 | 121.70 | 0.25 | 0.21 | 45.1 | Not Preformed | Blue Vein |
and | 159.06 | 160.25 | 1.19 | 1.01 | 1.35 | 1.45 | Blue Vein |
EZ-21-27 | 152.20 | 153.60 | 1.40 | 1.19 | 12.1 | 14.31 | Blue Vein |
including | 152.20 | 153.20 | 1.00 | 0.85 | 16.3 | 19.19 | Blue Vein |
and | 157.00 | 157.40 | 0.40 | 0.34 | 1.27 | 1.28 | Blue Vein |
EZ-21-28 | 245.60 | 246.85 | 1.25 | 1.06 | 0.67 | Not Preformed | No.9 Vein |
EZ-22-01 | 123.90 | 124.70 | 0.80 | 0.68 | 2.07 | 2.07 | Blue Vein |
and | 125.90 | 126.00 | 0.10 | 0.08 | 3.82 | 3.82 | Blue Vein |
and | 161.42 | 161.82 | 0.40 | 0.34 | 2.25 | 2.25 | Blue Vein |
Hole ID | From (m) | To (m) | Interval (m) | True Thickness (m) | Gold Grade | MET Screen Grade | Vein |
EZ-22-02 | 147.65 | 147.83 | 0.18 | 0.15 | 6.88 | 6.88 | Blue Vein |
and | 185.25 | 185.85 | 0.60 | 0.51 | 1.89 | 1.89 | Blue Vein |
EZ-22-03 | 96.91 | 97.33 | 0.42 | 0.36 | 2.05 | 523.00 | Blue Vein |
and | 124.02 | 124.47 | 0.45 | 0.38 | 32.66 | Not Preformed | Blue Vein |
including | 124.02 | 124.13 | 0.11 | 0.09 | 130.00 | 133.00 | Blue Vein |
and | 164.41 | 166.14 | 1.73 | 1.47 | 7.41 | Not Preformed | Blue Vein |
including | 165.41 | 166.14 | 0.73 | 0.62 | 17.40 | Not Preformed | Blue Vein |
* true thickness is estimated using a multiplier of 0.85. The Company considers anything over 0.2 g/t gold as significant.
**no significant intervals
Appendix2: The following tables are provided to ensure compliance with the JORC Code (2012) requirements for the reporting of Exploration Results for the Elizabeth - Blackdome Gold Project
Section 1: Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria | JORC Code explanation | Commentary |
Sampling techniques |
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Drilling techniques |
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Drill sample recovery |
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Criteria | JORC Code explanation | Commentary |
Logging |
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Sub- sampling techniques and sample preparation |
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Quality of assay data and laboratory tests |
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Criteria | JORC Code explanation | Commentary |
Verification of sampling and assaying |
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Location of data points |
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Data spacing and distribution |
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Orientation of data in relation to geological structure |
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Sample s Security |
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Audits or Reviews |
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Section 2: Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria | JORC Code explanation | Commentary |
Mineral tenement and land tenure status |
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Exploration done by other parties |
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Criteria | JORC Code explanation | Commentary |
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Geology |
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Criteria | JORC Code explanation | Commentary |
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Criteria | JORC Code explanation | Commentary |
Drill hole Information |
of the report, the Competent Person should clearly explain why this is the case. |
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Data aggregation methods |
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Relationship between mineralisation widths and intercept lengths |
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Diagrams |
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Criteria | JORC Code explanation | Commentary |
Balanced reporting |
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Other substantive exploration data |
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Further work |
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SOURCE: Tempus Resources Ltd.
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