Puma Exploration Discovers New Visible Gold-Bearing Zone at Williams Brook Gold Property
November 04 2021 - 9:52AM
Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”)
is pleased to announce that its ongoing surface trenching and
stripping programs have uncovered a new 100 meter-long high density
quartz veining zone with visible gold (VG) at its Williams Brook
Gold Project located in New Brunswick, an emerging new gold
district of Atlantic, Canada.
A large zone of quartz veins and veinlets has
been found by the continuous program of trenching and stripping
along the OGT. The new zone is located 150 meters NE of Lynx (see
Figure 1). It can be followed for more than 100 meters, so far, on
surface, between the Chubby and Moose Gold Zones. Visible gold (VG)
has been identified in a quartz/iron oxides vein.
Figure 1: O’Neil Gold Trend New
Discovery
Maphttps://www.globenewswire.com/NewsRoom/AttachmentNg/16f81e4f-5a8d-4266-8fc1-ab93e205fd74
This new occurrence of numerous gold-bearing
quartz veins (see Figure 2) coincides with a sudden change in the
direction of the rhyolite/sediment contact as predicted by our
structural model. As other similar flexures of the lithological
contact are expected, trenching and stripping will continue moving
NE along the OGT with two excavators, two trucks and one bulldozer
as long as the weather permits (see Figure 3).
Figure 2: Uncovered Intense Quartz
Network Between the Chubby and Moose Gold
Zoneshttps://www.globenewswire.com/NewsRoom/AttachmentNg/38939d1a-818f-4469-a6ea-a3d992f188f3
Marcel Robillard, President and CEO, stated:
“The discovery of this new significant high density quartz veining
zone containing visible gold confirms that the exploration model of
our technical team works perfectly. Actual stripping is widening
this new gold-bearing quartz zone in preparation for intense
sampling. The size, the abundance of quartz, the alteration and the
visible gold makes this new occurence a premium drill target!”
These gold bearing quartz veins networks are
consistent along the favorable contact sediment/rhyolite and recent
sampling results (see PR 2021-10-14) confirmed the presence of
other similar systems along strike within the 7 kilometers
potential O’Neil Gold Trend. Stripping and intense sampling will
then be extended an additional 300 meters NE toward the Moose Gold
Zone and beyond.
Figure 3: Current Stripping Operation at
the O’Neil Gold Trend
(OGT)https://www.globenewswire.com/NewsRoom/AttachmentNg/961ac7ea-2680-40ef-8b72-fd9f2617a653
O’NEIL GOLD TREND
(OGT)The O’Neil Gold Trend (OGT) is a
pervasive altered and brecciated rhyolite unit hosting significant
gold showings and occurrences followed by trenching and drilling
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
where in 2008, previous operator drilled grades of 54.2 g/t Au over
2.8 meters and 1 g/t Au over 23 meters.
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.
The core-oriented maiden drill campaign was
completed on August 20, 2021. It consisted of 18 holes for a total
of 2,360 meters that tested a 200-meter segment of the
700-meter-long O’Neil Gold Trend (OGT). The assay results for the
twelve (12) first holes are released and all holes intersected
significant gold mineralisation including the discovery hole
WB21-02 that cut 5.55 g/t Au over 50.15 meters
from surface, including 9.88 g/t Au over 8.60
meters and 46.94 g/t Au over 3.85 meters.
The assays are pending for the remaining 6 drill holes.
High-Grade Selected Grab Samples Assays
on the Prolific O’Neil Gold Trend (OGT)*:
O’Neil Gold Zone: |
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: |
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: |
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
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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