Puma Exploration Provides Update on Current Drilling Program, Reports Impressive Quartz Veining and Breccia in Core
February 22 2022 - 6:00AM
Puma Exploration Inc. (TSXV: PUMA, OTC: PUXPF) (the "Company" or
"Puma") is pleased to provide an update on its ongoing 10,000
metres diamond drilling program at its Williams Brook Gold Project
in New Brunswick, Atlantic-Canada. The objective of the 2022
drilling program is to test the O’Neil Gold Trend (“OGT”) along its
750 metres strike length and confirm the depth extension of the
high-grade gold found by surface exploration (see Figure 1).
To date, eleven (11) holes have been drilled for
a total of 965 metres. Those holes were collared between100 to 200
metres northeast of the Lynx Gold area, where a wide gold
mineralized zone was identified by drilling last summer, including
an intersection of 5.55 g/t Au over 50.15 m in hole WB 21-02 (see
Sept. 15, 2021 News Release).
HIGHLIGHTS OF THE CURRENT DRILLING
PROGRAM
- To date, eleven (11) holes
have been completed for a total of 965 metres.
- 681 core samples have been
sent to the laboratory for gold assaying.
- The holes are located
between 100 and 200 metres from the area drilled in
2021.
- All holes intersected, over
core lengths of 25 to 50 metres, the targetted favourable
gold-bearing horizon of quartz veins and quartz stockwork in
altered sediment and rhyolite.
- Visible gold was observed
in hole WB22-19 in a quartz vein in altered sediment at the contact
with the rhyolite (Figure 2).
- Hole WB22-26 intersected
the complete lithological sequence from top to bottom; Sediment
(hanging wall), Rhyolite and Black Shale (footwall).
- Hole WB22-29 intersected a
20 metres-thick continuous quartz vein/breccia system, the thickest
intersected thus far at the OGT.
- Preliminary observations
suggest that the targetted horizon dips 30 to 40 degrees which is
suitable for a potential open-pit operation.
Upon initial visual inspection, the recently
completed drill holes show the same mineralized quartz veins and
stockwork, including visible gold, at the contact of the altered
and brecciated rhyolite and sediments that was observed and sampled
on surface and that was intersected in the Company’s inaugural 2021
drill program (see Figure 3). A total of 681 core samples have been
sent to the lab, and results will be released when received.
"We are extremely pleased with how drilling is
progressing. The visual is exceptional on preliminary inspection of
the core with pervasive mineralization and alteration over
significant width and impressive strike length. So far, we’ve only
completed about 10% of our diamond drilling program at the O’Neil
Gold Trend. We have many priority targets still to test, but our
work to date indicates that Williams Brook has the potential to
become a major gold find in New Brunswick." notes Marcel Robillard,
President and CEO.
"The coming months will be exciting for Puma as
we are looking forward to assay results from the final batch of
surface samples from our fall exploration program and the first
core assay results from our ongoing 2022 drilling campaign. Our
Williams Brook Gold Project is poised to elevate Puma from a
little-known junior exploration company to a serious player in
Atlantic Canada’s gold space, " mentioned Réjean Gosselin,
Executive Chairman of Puma Exploration.
QUALIFIED PERSONDominique
Gagné, PGeo, a qualified person as defined by Canadian National
Instrument 43-101 standards, has reviewed and approved the
geological information reported in this news release.
ON-SITE QUALITY ASSURANCE/QUALITY
CONTROL ("QA/QC") MEASURESDrill core samples are bagged,
sealed and sent to the facility of ALS CHEMEX in Moncton, New
Brunswick, where each sample is crushed and pulped before being
fire assayed (Au-ICP21). The remaining coarse reject portions of
the samples remain in storage for further work or verification as
needed. As part of its QA/QC program, the Company inserts external
gold standards (low to high grade) and blanks every 20 samples in
addition to standards, blanks, and duplicates. All samples over 10
g/t gold or with abundant visible gold are analyzed with gravity
finish (Au-GRA22). Check assays are routinely performed for samples
with visible gold to ascertain the gold content of the
mineralization zone.
COVID-19 PRECAUTIONSPuma has
developed and implemented precautions and procedures compliant with
Québec and New Brunswick's health guidelines. Strict protocols are
in place to ensure the safety of all staff, thereby reducing the
potential of community contact and spreading of the virus.
ABOUT PUMA EXPLORATIONPuma
Exploration is a Canadian-based mineral exploration company with
precious metals projects located near 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.
Figure 1 - Current drilling program at
the OGT is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/5db87ca9-43fa-45a2-bde8-3cfcdcdc315c
Figure 2 - Visible gold (“VG”)
identified in hole WB22-19 is available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/cef7ed47-6d62-44f8-9757-b8226265a1ec
Figure 3 - Typical quartz vein
brecciated and mineralized in sediment (hanging
wall) is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/010d472f-5423-4021-9aad-e183b8bf4427
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