Puma Exploration Discovers Large Quartz Veins at Surface With Visible Gold on Its Williams Brook Gold Property
December 08 2021 - 6:00AM
Puma Exploration Inc. (TSXV: PUMA) (the "Company" or "Puma") is
pleased to report that it has discovered a series of thick quartz
veins that contain visible gold ("VG") between the Chubby and Moose
Gold zones of its Williams Brook Gold property in New Brunswick,
Atlantic-Canada.
The discoveries were made during the Company's
ongoing stripping program that targets the favourable
rhyolite/sediment contact along the O'Neil Gold Trend (OGT) and is
designed to confirm continuous gold mineralization at surface over
the trend's 700-meters strike length (Figure 1).
Figure 1: Quartz Veins Discovered at the
O'Neil Gold Trend Between the Chubby and Moose Areas is
available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/d9b9cec3-154e-44df-bbb5-54cf91bd8d9a
Rejean Gosselin, geologist and Chairman of the
Board, noted: "We are excited about this discovery at the
Chubby-Moose gold area (Figure 2). The mineralization of these
near-surface, highly altered and large thick quartz veins is
similar to what we observed at O'Neil, Lynx, and Pepitos.
This discovery further supports the potential
for a large gold deposit that could extend over a strike length of
700 meters at Williams Brook. Building on the success of our
inaugural drilling program in other areas of the property, we will
test this new target in early 2022 to show that the gold
mineralization observed here at surface also extends at depth."
RECENT EXPLORATION HIGHLIGHTS
- Discovery of a pervasive network of altered and thick quartz
veins;
- Discovery of three (3) additional areas with visible gold, over
25 meters, in quartz vein;
- Discovery of several N340 structures in the rhyolite that could
represent important conduits to the formation of the quartz veins
and associated high-grade gold mineralization;
- The entire OGT belt is heavily oxidized and mineralized;
- Over 750 samples sent for assays (results pending);
- Compilation of a robust geological model in collaboration with
Terrane Geosciences and Mira Geoscience underway;
- Launch of a 10,000-meters drilling campaign in January
2022.
Figure 2: Drone Photography Showing the
Current Excavation Program at the Chubby-Moose
Area is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/d85f27a7-0cf7-4b10-a324-59c5cb416862
ONGOING EXPLORATION
PROGRAMPuma's ongoing surface exploration and stripping
program, launched in June 2021, is focused on testing and extending
the O'Neil Gold Trend at its Williams Brook property. Building on
the Company's success, the aggressive mechanized stripping program
continues to uncover prospective areas for high-grade gold
mineralization along the OGT. The entire 300-meters strike length
contact between the Lynx Zone up to the Moose Zone was stripped at
a width varying between 25 to 100 meters (Figure 3). The pervasive
altered rock package that hosts networks of quartz veins with
high-grade gold mineralization seen at O'Neil, Lynx, and Pepitos is
also present here. This significant discovery shows that gold
mineralization extends over 700 meters along strike from the O'Neil
area all the way to the Lynx area and that a large gold deposit is
possible at Williams Brook.
With surface gold mineralization extending at
depth, as shown by Puma's inaugural drilling program, the technical
team is aggressively sampling the uncovered quartz veins to
identify potential high-grade gold targets and improve the outcomes
of its upcoming drilling program (Figure 4). Over 750 samples have
been collected to date, with assays pending. Mapping and analysis
of structural data are also underway to further optimize the
upcoming drilling program. Terrane Geosciences mapped the
favourable rhyolite/sediment contact in the area, and the
structural features and the quartz veins orientation are currently
being analyzed to improve targeting. As long as field conditions
allow, Puma will continue to advance its surface stripping and
sampling work aggressively.
Figure 3: Mapping by Terrane Geoscience
with the Localization of High-Grade Gold Samples
(VG) is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/1d36c62d-a726-4580-bad0-ba44435e936b
Figure 4: Brecciated Host Rocks with
Visible Gold (VG) from the Chubby-Moose area is
available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/95bbf96c-deb5-4bea-a5ea-66039f172239
QUALIFIED PERSONDominique
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.
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. The Company is committed to its DEAR
strategy (Development, Exploration, Acquisition and Royalties) to
generate maximum value for shareholders with low share-
dilution.
Connect with us on Facebook / Twitter /
LinkedIn
Visit www.explorationpuma.com for more
information or contact:
Marcel Robillard,President,
(418) 750-8510;president@explorationpuma.com
Mia Boiridy,Head of Investor
Relations and Corporate Development, (250)
575-3305;mboiridy@explorationpuma.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept responsibility for the
adequacy or accuracy of this release.
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.
Puma Exploration (TSXV:PUMA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Puma Exploration (TSXV:PUMA)
Historical Stock Chart
From Jul 2023 to Jul 2024