Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is
pleased to announce the presence of significant coarse gold
mineralization including the highest grade being
128.0
g/t Au received from metallic screen
assays. Initial check assaying using metallic screen fire assay was
conducted on previously fire assayed selected grab samples* at the
O’Neil showing, reported in the September 01st, 2020 press release.
HIGHLIGHTS:
- Significant coarse gold
mineralization confirmed at the O’Neil Main Vein with the highest
grade being 128.0 g/t Au compared
to initial grade of 109.5 g/t Au.
- Significant increase in reported
gold grades in most of the samples collected at
the O’Neil Main Vein with metallic screen fire assay as compared to
original fire assay.
- The average gold grade samples of
the vein is increased to 30.86 g/t Au (128.0 g/t
Au, 35.2 g/t Au, 18 g/t Au, 14.5 g/t Au, 10.25 g/t Au, 8.33 g/t Au
and 1.74 g/t Au)*
- All samples from the O’Neil Showing
were collected from bedrock.
- 309 samples collected during the
first phase of trenching and ongoing prospecting programs are
currently at the laboratories for Gold assays.
*Selected rock grab samples are selective by
nature and may not represent the true grade or style of
mineralization across the property.
Marcel Robillard, Puma's President & CEO
stated, " Screen metallic fire assay is a significant type of
analysis designed to specifically deal with the presence of visible
gold or coarse grain usually called nuggets effect in the sample
medium. When samples contain coarse gold, the metallic screening
procedure is recommended for accurate results. It is clear, even
with limited samples, that the mineralization at O’Neil Gold Trend
contains coarse grain which could facilitate the milling
recovery."
Analyses were conducted on the rejects from the
selected grabs samples of the O’Neil Showing and from other samples
with initial results over 0.10 g/t Au to characterize the gold
mineralization at Williams Brook and to define the QC/AC sampling
protocol for the entire property.
Table 1:
O’Neil Showing Metallic Screen
Results from selected grab sample
rejects
Workorder |
MN20147589 |
MN20154363 |
Method |
Au-ICP21 |
Au-GRA21 |
Au-AA26 |
Au-AA26D |
Au-SCR24 |
Au-SCR24 |
Au-SCR24 |
Au TotalIncreased |
Analyte |
Au |
Au |
Au |
Au |
Au (+) Fraction |
Au (-) Fraction |
Au Total |
% |
|
g/t |
g/t |
g/t |
g/t |
g/t |
g/t |
g/t |
with Coarse |
Samples |
0,00 |
0,05 |
0,01 |
0,01 |
0,05 |
0,05 |
0,05 |
Grain |
PA-20-16 |
>10.0 |
21.00 |
8.54 |
7.97 |
159.5 |
8.26 |
18.00 |
218% |
PA-20-17 |
>10.0 |
109.50 |
48,00 |
46.80 |
1505.0 |
47.40 |
128.00 |
270% |
PA-20-20 |
>10.0 |
15.95 |
8.09 |
8.09 |
190.5 |
8.09 |
13.05 |
161% |
PA-20-21 |
2.71 |
2.71 |
1.55 |
1.54 |
8.41 |
1.55 |
2.10 |
135% |
PD-20-10 |
7.58 |
7.58 |
2.95 |
2.77 |
145.0 |
2.86 |
8.24 |
288% |
PD-20-14 |
>10.0 |
12.7 |
4.39 |
4.48 |
32.6 |
4.44 |
5.86 |
132% |
A0753897 |
>10.0 |
5.55 |
3.60 |
3.02 |
43.8 |
3.31 |
8.33 |
252% |
A0753898 |
2.94 |
2.94 |
0.63 |
0.56 |
14.4 |
0.60 |
1.74 |
290% |
A0753900 |
6.14 |
6.14 |
0.83 |
1.01 |
11.5 |
0.92 |
1.91 |
208% |
A0753901 |
3.57 |
3.57 |
1.65 |
2.15 |
29.9 |
1.90 |
3.70 |
195% |
A0753903 |
1.14 |
1.14 |
0.27 |
0.47 |
10.7 |
0.37 |
0.98 |
265% |
A0753904 |
7.38 |
7.38 |
5.83 |
5.75 |
124.5 |
5.79 |
14.50 |
250% |
A0753905 |
6.63 |
6.63 |
6.39 |
5.35 |
63.6 |
5.87 |
10.25 |
175% |
A0753906 |
>10.0 |
38.8 |
11.15 |
12.55 |
274.0 |
11.85 |
35.20 |
297% |
A0753928 |
0.33 |
0.33 |
0.16 |
0.07 |
1.3 |
0.12 |
0.21 |
175% |
A0753929 |
0.45 |
0.45 |
0.20 |
0.07 |
0.9 |
0.14 |
0.18 |
129% |
|
|
|
|
|
|
|
|
|
A total of 309 rock samples,
consisting of a mix of outcrops and boulders were collected on the
property during the current second phase of exploration. Most of
them are samples collected from the current trenching program.
Results are pending and will be released once they become
available.
Figure 1:
O’Neil Showing Metallic Screen
New Results
Comparison: https://www.globenewswire.com/NewsRoom/AttachmentNg/5691354c-86f7-4a22-a294-286dbea41118
O’NEIL GOLD ZONE (OGZ)The first
phase of the 2020 summer exploration program lead to the discovery
of the Gold O’Neil Showing with the presence of a significant and
pervasive Gold Trend over 2.0 km along the O’Neil Gold Zone (OGZ).
The O’Neil Showing consists of an altered and brecciated rhyolite
injected with quartz veins and quartz stockworks. The altered and
brecciated rhyolite is open in all directions
The highest gold sample, grading
128.0
g/t Au, is part of the main
quartz vein (ranging from 30-50 cm) followed and sampled, so far,
over 10 meters in length. The average gold grade samples of the
vein of 30.86
g/t Au over 10 meters (128.0 g/t Au, 35.2 g/t Au,
18 g/t Au, 14.5 g/t Au, 10.25 g/t Au, 8.33 g/t Au and 1.74 g/t
Au)*, was estimated from chip and grab samples collected
continuously every 1.5 meters on the main vein.
Following the hand and shovel cleaning of the
main vein, surrounding quartz stockworks and veinlets within the
rhyolite were found, sampled and reported respectively high grade
gold of 16.90 g/t Au,
8.24 g/t Au,
6.14 g/t Au,
3.57 g/t Au,
2.2g/t Au and
1.14 g/t Au.
TRIPLE FAULT GOLD PROJECTThe
Triple Fault Gold Project includes three (3) properties named
Williams Brook Gold, Jonpol Gold, and Portage Lake properties
covering more than 30,000 hectares of favorable gold exploration
land package. The project is located about 60 km west of Bathurst
with the paved road cross-cutting the property.
Puma is currently focusing its field work on its
first priority, the Williams Brook property. The Williams Brook
Gold property includes selected drill results of 11.2 g/t over 2.8
m, 2.1 g/t Au over 9.0 m and 1.0 g/t over 23 m, gold occurrences
grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 g/t Au in bedrock,
numerous gold soil anomalies and extremely anomalous till samples
with up to 508 gold grains that occur over an area approximately 12
by 3 kilometres.
There has been very limited drilling and
exploration in the area mapped to be part of the Dunnage Zone
hosting major gold deposits and gold occurrences in siluro-devonian
rocks and considered as an emerging gold exploration and
development district.
QUALIFIED PERSONSDominique
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.
QUALITY ASSURANCE/QUALITY CONTROL
(QA/QC)Rock samples were bagged, sealed and sent to the
facility of ALS CHEMEX in Moncton, New Brunswick where each sample
is dried, crushed, and pulped. The samples were crushed to 70% less
than 2mm, riffle split off 1kg, pulverise split to better than 85%
passing 75 microns (Prep-31B). A 30-gram subsplit from the
resulting pulp was then subjected to a fire assay (Au-ICP21). Rock
sample ICP results with gold >1g/t were subjected to a metallic
screening (Au-SCR24) 1kg pulp screened to 100 microns. Other screen
sizes available. Duplicate 50 g assay on screen undersize. Assay of
entire oversize fraction.
ABOUT PUMA
EXPLORATIONPuma Exploration is a Canadian-based mineral
exploration company with precious and base metals projects in early
to advanced stages located in the Famous Bathurst Mining Camp (BMC)
in New Brunswick, Canada. 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 with low shares
dilution.
You can visit us on Facebook / Twitter /
LinkedInLearn more by consulting www.pumaexploration.com for
further information on Puma.
Marcel Robillard, President, (418) 724-0901;
president@explorationpuma.comChristian Tweedy, Communications,
(604) 619-5810; ctweedy@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.
Photos accompanying this
announcement are available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/5691354c-86f7-4a22-a294-286dbea41118
https://www.globenewswire.com/NewsRoom/AttachmentNg/0bc178ef-dc99-4836-85cf-470360bdf0a7
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