Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is
pleased to announce results from the six (6) initial drill holes
completed at its flagship Williams Brook Gold Project located in
New Brunswick, the emerging new gold district of Atlantic, Canada.
Discovery hole WB21-02 intersected 5.55
g/t Au over 50.15 meters from surface. The mineralized and
altered zone drilled includes two main high-grade intercepts of
9.88 g/t Au over 8.60 meters and 46.94 g/t
Au over 3.85 meters. All the six (6) first holes
intersected significant high-grade gold quartz veins and quartz
networks within the altered and mineralized rhyolite (see Table 1
for significant drill results).
Figure 1: Inaugural Drilling Program at
Lynx Gold Zone of the O’Neil Gold Trend
https://www.globenewswire.com/NewsRoom/AttachmentNg/8b5b2f1b-7c1d-4da2-a2e3-f5c486190541
Table 1. Significant Drill Results at
the Lynx Gold Zone
Hole ID |
From (m) |
To (m) |
Lenght (m) |
Au (g/t) |
WB21-01 |
4,00 |
29,60 |
25,60 |
1,30 |
|
|
|
|
|
incl. |
4,00 |
9,40 |
5,40 |
5,10 |
incl. |
4,00 |
6,10 |
2,10 |
12,71 |
and |
16,50 |
17,00 |
0,50 |
2,17 |
and |
29,40 |
29,60 |
0,20 |
9,81 |
WB21-02 |
0,00 |
50,15 |
50,15 |
5,55 |
|
|
|
|
|
incl. |
7,20 |
15,80 |
8,60 |
9,88 |
incl. |
7,20 |
10,20 |
3,00 |
8,33 |
and |
13,70 |
15,80 |
2,10 |
28,52 |
|
|
|
|
|
|
21,00 |
22,00 |
1,00 |
2,89 |
|
29,00 |
30,00 |
1,00 |
1,84 |
|
31,45 |
33,00 |
1,55 |
3,77 |
|
36,20 |
37,40 |
1,20 |
0,45 |
|
|
|
|
|
incl. |
45,60 |
49,45 |
3,85 |
46,94 |
incl. |
45,60 |
46,60 |
1,00 |
69,90 |
and |
47,60 |
49,45 |
1,85 |
59,68 |
WB21-03 |
20,55 |
58,10 |
37,55 |
0,55 |
|
|
|
|
|
incl. |
20,55 |
21,65 |
1,10 |
2,78 |
and |
46,00 |
58,10 |
12,10 |
1,47 |
incl. |
55,90 |
58,10 |
2,20 |
7,81 |
WB21-04 |
13,75 |
18,90 |
5,15 |
0,26 |
|
|
|
|
|
|
13,75 |
14,35 |
0,60 |
1,10 |
|
88,00 |
88,50 |
0,50 |
0,40 |
|
|
|
|
|
|
138,30 |
143,80 |
5,50 |
0,95 |
incl. |
140,50 |
141,50 |
1,00 |
2,84 |
WB21-05 |
12,00 |
38,40 |
26,40 |
1,00 |
|
|
|
|
|
incl. |
26,00 |
38,40 |
12,40 |
2,08 |
incl. |
26,00 |
28,00 |
2,00 |
12,64 |
WB21-06 |
1,50 |
50,20 |
48,70 |
1,16 |
|
|
|
|
|
incl. |
29,00 |
49,70 |
20,70 |
2,73 |
incl. |
31,80 |
34,50 |
2,70 |
1,92 |
and |
36,00 |
37,60 |
1,60 |
1,25 |
and |
46,80 |
49,70 |
2,90 |
16,92 |
incl. |
46,80 |
48,30 |
1,50 |
24,66 |
* Stated lengths in meters are downhole core
lengths and not true widths. True widths will be calculated once
more drilling confirms the geometry of the quartz-sulphide
system.
All 18 drill holes completed to date, testing
the Lynx Zone have intercepted the mineralized and altered rhyolite
unit. Drill core from 12 other holes has been sent to the lab and
assays are pending. Following these excellent drill results, the
company has recently decided to increase its planned campaign to
10,000 meters, up from the initial 2,000 meters.
Marcel Robillard, President and CEO, stated: “We
are all very excited about the initial assay results as they have
far exceeded our expectations, especially with WB21-02 returning a
metal factor of 278. The drilling is validating
the representativity of the high-grade gold samples collected at
surface and the continuity of the mineralization at depth and
laterally. The additional results should improve our model as we
continue to better understand the geometry of the mineralized
envelope along this segment of the O’Neil Gold Trend (OGT), that
remains open.”
Figure 2: The O’Neil Gold Trend Selected
Grab** Samples Collected at Surface
https://www.globenewswire.com/NewsRoom/AttachmentNg/7397221e-3e61-422a-acd7-58ace8f33139
** Selected rock grab samples are selective by
nature and may not represent the true grade or style of
mineralization across the property.
“The drill results, announced today, clearly
demonstrates the tremendous gold potential of our Williams Brook
Gold Project and confirms the appearance of a new gold district in
New Brunswick, a mining friendly jurisdiction of Atlantic. Canada.
It is no surprise that our technical team is anxious to begin the
second phase of drilling to further test the easily accessible OGT
and the other first priority targets,” added Mr Robillard.
“It is really exceptional to make such a great
gold discovery in such a short period of time and with a limited
exploration budget. This is the result of the dedicated hard work
of all the professionals working with Puma,” commented Réjean
Gosselin, Executive Chairman of the company.
SIGNIFICANT POSITIVE OBSERVATIONS FROM
THE INITIAL DRILLING RESULTS:
- The gold mineralisation
starts at surface:
- WB21-01 intersected 1.30 g/t Au
over 25.60 meters from 4.00 meters
- WB21-02 intersected 5.55 g/t Au
over 50.15 meters from surface (0m)
- WB21-05 intersected 1.16 g/t Au
over 48.70 meters from 1.50 meters
- The high-grade samples
collected at surface are representative of the mineralization at
depth:
- WB21-01 intersected 50.0 g/t Au
over 0.50 meters
- WB21-02 intersected 59.68 g/t Au
over 1.50 meters
- WB21-03 intersected 23.10 g/t Au
over 0.65 meters
- WB21-05 intersected 16.07 g/t Au
over 1.10 meters
- WB21-06 intersected 44.74 g/t Au
over 0.70 meters
- Significant mineralized and
altered thickness intersected:
- WB21-01 intersected 1.30 g/t Au
over 25.60 meters
- WB21-02 intersected 5.55 g/t Au
over 50.15 meters
- WB21-03 intersected 1.47 g/t Au
over 12.10 meters
- WB21-05 intersected 1.00 g/t Au
over 26.40 meters
- WB21-06 intersected 1.16 g/t Au
over 48.70 meters
- The high-grade surface
mineralization is extending at depth:
- WB21-02 intersected 59.68 g/t Au
over 1.50 meters from 47.60 meters
- WB21-03 intersected 23.10 g/t Au
over 0.65 meters from 56.85 meters
- WB21-04 intersected 2.84 g/t Au
over 1.10 meters from 140.50 meters
- WB21-06 intersected 44.74 g/t Au
over 0.70 meters from 47.60 meters
- The gold mineralisation is
extending in the sediments:
- WB21-04 intersected 1.92 g/t Au
over 0.70 meters from 16.80 meters
- WB21-04 intersected 2.84 g/t Au
over 1.00 meters from 140.50 meters
INAUGURAL DRILLING PROGRAM AT WILLIAMS
BROOK GOLD PROJECT
As planned, a total of 18 holes were completed
for 2,360 meters (see Table 3). The NQ core oriented maiden drill
program was conducted to test a segment of the 700-meter-long
O’Neil Gold Trend (OGT), part of the Williams Brook Gold Project.
The OGT shows a distinct 7-kilometer-long magnetic signature
highlighted by the 2021 detailed VTEM airborne survey.
Figure 3: 2021 Detailed VTEM Airborne
Survey Showing Distinct Magnetic Signature
https://www.globenewswire.com/NewsRoom/AttachmentNg/673f0674-9075-4349-a917-7d4da3c84c17
The drilling program was designed to better
understand the spatial geometry of the mineralized envelope and
discover any new potential high-grade zones extending at depth. It
was planned with the support of Terrane Geoscience Inc. who
completed, earlier this summer, a study of the alteration pattern
and structural analysis of the main vein.
The holes were oriented to intersect the
down-dip projection of significant high-grade gold vein networks
exposed at surface in trenches and in stripped areas at the Lynx
Gold Zone along the O’Neil Gold Trend (OGT).
Table 3. Technical Information About the
Drill Holes Released
Hole ID |
Utm X |
Utm Y |
Orientation |
Angle |
Lenght (m) |
WB21-01 |
660264 |
5259318 |
N155º |
-45 º |
134 |
WB21-02 |
660264 |
5259318 |
N155º |
-45 º |
140 |
WB21-03 |
660252 |
5259345 |
N155º |
-45 º |
80 |
WB21-04 |
660252 |
5259345 |
N155º |
-45 º |
170 |
WB21-05 |
660274 |
5259322 |
N155º |
-45 º |
107 |
WB21-06 |
660273 |
5259322 |
N155º |
-45 º |
152 |
CORE OBSERVATIONS
Each of the 18 diamond drill holes show
consistent mineralization and pervasive alteration over core length
varying between 10 m to 75 m starting at surface. The main features
observed included: abundant quartz veins and large network of
quartz veinlets showing pervasive sericite and iron alteration.
Disseminated sulphides and oxides (galena, chalocopyrite, pyrite,
sphalerite, stibinite, bornite, covellite, tetrahedrite and
malachite) were also present within the strong alterated intervals
and within quartz veins. Visible Gold (VG) was observed in many
holes. The veins are granulars, drusics, and sometimes massive
within the altered porphyric rhyolite in contact with the
sediments. The sediments are composed of altered siltstone interbed
with mudstone.
Figure 4: High-Grade Gold Core from
WB21-02
https://www.globenewswire.com/NewsRoom/AttachmentNg/33f1ed14-8858-4dcb-81af-b74a21b396cb
Drilling ended August 20th, 2021, with 18 holes
totaling 2,360 meters having been completed. The average depth per
hole ranged between 58 to 242 meters. Final core logging and
sampling is completed with the samples of all the holes sent to the
laboratory for assaying. Once received, assay results will be
compiled, interpreted and then released on a timely basis.
CURRENT WORKThe technical team
is on site to proceed with trenching and stripping operations to
extend the favorable contact between the altered rhyolite and the
sediments along the entire O’Neil Gold Trend. A large grab sampling
program with detailed mapping of the favourable contact is in
progress. A permanent crew with one excavator moves forward with
exploration trenches in the entire area. Drill pads for the next
core oriented drill campaign are also being prepared.
O’NEIL GOLD TREND
(OGT)The O’Neil Gold Trend (OGT) is a
pervasive altered and brecciated rhyolite unit hosting significant
gold showings and occurences followed by trenching over a strike
length of 700 meters. The geophysical signature of
the OGT is expressed over 7km. The favourable unit (rhyolite) is
similar and parallel to the structures hosting the “Williams 1” and
“Williams 2” Gold Zones.
These trends are interpreted to be related to a
major rifting in the New Brunswick Geological events and could
represent a low sulphidation epithermal gold system. Along the OGT,
the width of the rhyolite varies from 5 to 250 meters with an
average apparent thickness of 150 meters.
High-Grade Selected Grab Samples Assays
on the Prolific O’Neil Gold Trend (OGT)*:
O’Neil Gold Zone (VG**): |
|
128.5 g/t Au, 44.4 g/t Au, 38.8 g/t Au,
32.8 g/t Au, 23.1 g/t Au |
Pepitos Gold Zone (VG**): |
|
52.1 g/t Au, 16.1 g/t Au, 15.0 g/t Au, 13.1 g/t Au,
4.87 g/t Au |
Lynx Gold Zone (VG**): |
|
241.0 g/t Au, 79.8 g/t Au, 74.2 g/t Au, 63.5 g/t Au,
58.4 g/t Au |
Chubby Zone Area: |
|
3.5 g/t Au, 1.2 g/t Au, 1.2 g/t Au, 0.45 g/t
Au |
Moose Gold Zone: |
|
2.4 g/t Au, 2.1 g/t Au, 1.3 g/t Au, 1.1 g/t
Au |
* Selected rock grab samples are selective by
nature and may not represent the true grade or style** VG: Visible
Gold
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). Other
screen sizes available. Duplicate 50g 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.explorationpuma.com for
further information on Puma.Marcel Robillard, President, (418)
750-8510; 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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