Puma Exploration to Drill the Chester Property in 2020
February 18 2020 - 10:18AM
Puma Exploration Inc. (
the “Company” or “Puma”) is
pleased to announce that it elects to maintain the Chester Property
option agreement in good standing and has fulfilled the minimum
requirements for the first year anniversary as stipulated in the
option agreement (see news 12/02/2019).
During the first year work program, Puma
proceeded with several exploration techniques including :
geological mapping, extensive data compilation, 3D EM inversion,
detailed AI targeting survey (Windfall Geotech WIN-TSXV), and a
trenching program (4,500 m). Current exploration work completed by
Puma was aimed to identify the best 5-10 targets to be
drilled on the property during the second year
program.
The trenching program conducted on the Chester
Property in November and December 2019 highlight and increase the
potential of the gossan zone overlying the East Zone. Puma sampled
in trench T19-04, 1.87% Cu, 1.36% Cu and 1.03% Cu.
Furthermore, Puma is pleased to report values of up to 1.06
g/t Au in the gossan zone. 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. 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.
2020 OBJECTIVES AT CHESTER
The objective for 2020 is to find new
mineralized zones at Chester by drilling and making significant new
discoveries. The East Zone and Central Zone represents the most
prospective areas of the property and could be the proximal edge of
a new massive sulphide deposit.The previous operators 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.
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
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.
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.
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, independant 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 EXPLORATIONPuma
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)
724-0901president@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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