Both the copper discovery in the so-called Jan Copper Zone to the south (2 drill holes) and the adjacent Monarch Gold Zone to the north (1 drill hole) confirm the great potential of the project. Drill hole BAM 005 intersected 0.65 g/t gold over 62.30 meters, including 18.20 meters grading 1.14 g/t gold. This adds approximately 600 metres to the north of the Monarch Zone. Both drill holes BAM-004 and BAM-006 were drilled on the Jan copper target. Drill hole BAM-004 in particular impressed with 1.1% copper over 39.25 meters, including 9.15 meters grading 3.23% copper.
Figure 1: The BAM Copper-Gold Project in the Golden Triangle of British Columbia is located near the new road built to develop Galore Creek. Experts suspect a geological relationship between the two projects.
Joe Ovsenek, President and CEO of P2 said, "BAM continues to deliver excellent results with BAM-005 extending the Monarch gold zone, the newest gold discovery in the Golden Triangle, to the north and BAM-004 demonstrating the copper potential of the Jan copper zone."
BAM-005 is located approximately 600 meters north of BAM-002 (the southernmost hole of the Monarch Gold Zone) and approximately 600 meters northeast of BAM-003 (the westernmost hole of the Monarch Gold Zone). The Jan Copper zone is located west and south of the Monarch Gold zone, with BAM-004 located approximately 1,300 metres southwest of BAM-002.
Figure 2: Cross-section of BAM-005 shows that gold mineralization begins near surface.
Figure 3: Not only the copper grades, but also the location of the discovery at the side of a hill in drill hole BAM-004 is promising.
BAM 2021 Exploration
The BAM 2021 drill program consisted of six holes totaling 835.9 meters. The Monarch Gold Zone was tested with holes BAM-001, 002, 003 and 005 targeting coincident IP chargeability anomalies with strongly anomalous gold values in soil up to 5.7 grams per tonne. The Jan Copper Zone was tested with holes BAM-004 and 006, which targeted soil geochemistry with values greater than 1% copper and surface occurrences exposed in historic trenches.
Based on the mapping, sampling and geophysics programs in 2021 and the soil geochemical sampling and geophysics programs in 2020, the Monarch Gold Zone is considered to extend over one kilometer north-south and up to 500 meters east-west at surface and the Jan Copper Zone is considered to extend approximately one kilometer north-south and over 500 meters east-west at surface.
Planning for the BAM 2022 exploration program is underway and is expected to include diamond drilling to test the full extent of the Monarch Gold Zone and Jan Copper Zone.
Conclusion: P2 Gold's BAM project is not P2 Gold's main project. As such, the scope and budget for this season was limited. Just 6 drill holes totaling approximately 830 meters have been drilled. However, the return on this small effort is considerable: BAM has been convincing all along the line. The various targets deserve to be pursued further in the coming year. If the market for mining juniors in general were not so bad at the moment, the exploration success should actually be reflected in P2 Gold's share price. But what is yet to come, may yet come.
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