Puma Samples 1.87% Cu and 1.06 g/t Au in the East Zone of Chester Property
January 08 2020 - 12:04PM
Puma Exploration Inc. (
the “Company” or “Puma”) is
pleased to announce that during the initial exploration work
conducted on the Chester property in November and December 2019,
Puma sampled
1.87% Cu, 1.36% Cu and 1.03% Cu in
trench T19-04 located in the East Zone. Furthermore, Puma is
pleased to report values of up to
1.06 g/t Au in
the gossan zone overlying the East Zone recently trenched by the
technical team. Very limited gold analysis has been performed in
the past and will be systematically evaluated in the upcoming
exploration programs.
The trenching program also identified a large
hydrothermal system characterised by geochemical anomalies (Se/S,
As, Cu+Pb+Zn, Mg+Fe, Ba and Si) located NE of the East Zone. The
Se/S ratio can be used as an indicator of a probable magnetic
component for high temperature sulfurs (hydrothermal alteration).
Adding to the alteration signature, the area coincides with a major
gravity anomaly and a low magnetic boundary. Only one hole was
drilled by Noranda and was then deepened by Teck in 1994 (CN-12) in
the area. The hole CN-12 intersected the favorable horizon
consisting of strongly altered and variably mineralized felsic
volcanic grading 0.19% Pb+Zn over 118 meters without any further
follow-up program.
The East Zone and Central Zone represent the
most prospective areas of the property to find significant new
deposits as the previous operators and the recent work concentrated
their efforts on the West Zone (feeder zone). No mineral resource
estimates have been calculated under NI43-101 guidelines for the
Central and the East Zones and most of the holes drilled were
completed before the 1980’s.
The massive sulphide zones are exposed at the
surface as a gossan mineralization. The previous operators at
Chester Deposit reported historical resources totalling
16.8 Mt at 0.76 % Cu divided in three zones* :
- East Zone*: 0.5 Mt of massive and
disseminated sulphide grading 0.78%Cu, 0.36% Pb and 1.14% Zn.
- Central Zone*: 1.1 Mt of massive
sulphide grading 0.47%Cu, 0.90% Pb and 2.22% Zn.
- West Zone*: 15.2 Mt of copper
stringers grading 0.78%Cu.
*Puma is not treating the “historical resources
estimate” as a “current resources estimate” or “mineral reserves”,
as it has not taken steps to identify what work needs to be done to
verify, upgrade or re-classify the “historical resources estimate”
using a qualified person from Puma or independent third party.
Recently, Puma has continued to consolidate its
position in the Bathurst Mining Camp to double in size the Chester
area and is now composed of 303 claims covering a total of 6,654
hectares (see NR 2019-11-13). Puma now controls two (2) major areas
: Murray Brook and Chester which represents the best two base metal
assets undeveloped in the famous Bathurst Mining Camp in New
Brunswick.
ABOUT CHESTER
The Chester property is known to contain Copper
Deposits containing three (3) zones; the Central Zone, the East
Zone, and the West Zone (Copper Stringer) all located near the
surface. Only the West Zone was included in the NI 43-101 resources
calculation dated 2008 and updated in 2014. The copper deposit has
historical measured & indicated resources of 1,400,000 tonnes
grading 1.38% Cu and 3.5 g/t Ag and inferred resources of 2,089,000
tonnes grading 1.26% Cu (assayed for Cu only) as reported in the NI
43-101 Technical Report entitled “Technical Report - Chester Copper
Property New Brunswick Canada” (effective March 07, 2014) prepared
by Robert C. Sim, P. Geo., for Explor Resources and filed on
www.sedar.com. Puma is not treating the “historical resources
estimate” as a “current resources estimate” or “mineral reserves”,
as it has not taken steps to identify what work needs to be done to
verify, upgrade or re-classify the “historical resources estimate”
using a qualified person from Puma or independent third party.
Significant previous drill results at
Chester property
West Zone (Surface to 50m) |
Central Zone (Surface to 50m) |
4.8% Cu over 20.3 meters |
10.8% Zn + 4.5% Pb over 5.6 meters |
3.4% Cu over 25.0 meters |
7.4% Zn + 2.3% Pb over 6.1 meters |
6.0% Cu over 13.1 meters |
8.0% Zn + 3.9% Pb over 7.0 meters |
8.0% Cu over 5.2 meters |
8.5% Zn + 4.0% Pb over 7.9 meters |
4.9% Cu over 14.2 meters |
7.0% Zn + 2.6% Pb over 15.6 meters |
QUALIFIED PERSONS
Dominique Gagné, PGeo, independent qualified
person as defined by Canadian National Instrument 43-101 standards,
has reviewed and approved the geological information reported in
this news release. Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Mr. Gagné is independent of the
Company.
ABOUT PUMA EXPLORATION
Puma Exploration is a Canadian-based mineral
exploration company with precious and base metals projects in early
to advanced stages. While our priority remains to finalize the
acquisition of the Murray Brook project in New Brunswick, great
efforts will be made by the Company in the coming years to deploy
its DEAR strategy (Development, Exploration, Acquisition and
Royalties) in order to generate maximum value for shareholders.
You can visit us on Facebook and Twitter.Learn
more by consulting www.pumaexploration.com for further information
on Puma.Marcel Robillard, President
(418) 724-0901
president@explorationpuma.com
Forward-Looking Statements: This press release
may contain forward-looking statements. Such forward-looking
statements involve a number of known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Puma to be materially different from
actual future results and achievements expressed or implied by such
forward-looking statements. Readers are cautioned not to place
undue reliance on these forward-looking statements which speak only
as of the date the statements were made, except as required by law.
Puma undertakes no obligation to publicly update or revise any
forward-looking statements. These risks and uncertainties are
described in the quarterly and annual reports and in the documents
submitted to the securities administration.
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