Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) has
found additional occurrences (2) of visible gold (VG) in trench
TR20-28, located 35 m east of the O’Neil High-Grade Gold Showing.
The discovery was made during the detailed mapping of the trench,
following the cleaning work (see figure 1).
Figure 1:
Location of the
Visible
Gold (VG) at Williams
Brook Property is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/c0d03b4c-b823-4516-84aa-93ad3b5a03f1
The visible gold (VG) is variably detected in 0.5
to 3.0 millimeters disseminated blebs in a quartz veins breccia
that show pervasive alteration of Chlorite + Sericite. The quartz
veins containing the visible gold (VG) are oriented ~N290 and seem
to be part of a major extensional system (Riedel type) located near
the major structures that are trending NW.
Figure
2: Visible Gold in
the Quartz
Breccia at O’Neil Gold
Zone (OGZ) is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/fd34ef4d-5671-498d-ad2b-c08ca55d8f58
Marcel Robillard, Puma's President & CEO
stated, “While the Company is quick to assert the presence of
visible gold, it is not necessarily indicative of mineralisation
throughout all the samples at O’Neil. However, it does augur well
for further gold potential discoveries at Williams Brook
property”.
“It’s a very exciting time for Puma Exploration
with the discovery of additional visible gold (VG) at the O’Neil
Gold Zone (OGZ), the confirmation of the O’Neil Gold Trend (OGT)
for more than 5.0 km, and with more than 500 samples currently at
the laboratory for gold assaying with results that should be
received shortly.” Added Marcel Robillard.
O’NEIL GOLD
TREND
(OGT)The first
phase of the 2020 summer exploration program lead to the discovery
of the O’Neil Gold Showing with the presence of a significant and
pervasive potential gold trend over 5.0 km along the O’Neil Gold
Trend (OGT). 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 sample 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, Jonpol Gold, and Portage Lake, covering more than
41,500 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
property includes selected drill results of 11.2 g/t over 2.8m, 2.1
g/t Au over 9.0m, and 1.0 g/t over 23m, 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
kilometers.
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.
Images accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/c0d03b4c-b823-4516-84aa-93ad3b5a03f1
https://www.globenewswire.com/NewsRoom/AttachmentNg/fd34ef4d-5671-498d-ad2b-c08ca55d8f58
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