Puma Exploration Inc. (TSXV: PUMA, OTC: PUXPF) (the "Company" or
"Puma") is pleased to report a near-surface high-grade gold
intersection of
34.93 g/t Au over 3.00 metres
within a wider zone assaying
6.47 g/t Au over 16.90
metres in hole WB22-25. Additional high-grade intercepts
include
22.28 g/t Au over 3.20 metres within a
wider gold intercept of
3.97 g/t Au over 22.10
metres in hole WB22-36 and
1.00 g/t Au over 33.35
metres in hole WB22-26. These new high-grade discoveries
extend by more than 300 metres to the NE, the first gold discovery
made at the OGT in 2021(Figure 1).
"These first results are very exciting. Every
hole intersected gold mineralization, and hole WB22-25 is one of
the most impressive, with more than 34 g/t gold over 3 metres. That
hole contains the highest individual gold grade since the beginning
of drilling in 2021, with 183 g/t Au over 0.50 metres. We are
systematically building our model and demonstrating again, step by
step, the gold potential of the O’Neil Gold Trend and the entire
Williams Brook Project," said Marcel Robillard, President and CEO
of Puma Exploration.
HIGHLIGHTS:
- A new high-grade gold intersection
(34,93 g/t Au over 3.0 m within a wider zone
assaying 6.47 g/t Au over 16.90 m);
- A 25 metres step-out from hole
WB22-25 intersected 22.28 g/t Au over 3.20 m
within a wider gold intercept of 3.97 g/t Au over 22.10
m in hole WB22-36;
- Several other high-grade gold
samples occur within a large lower-grade envelope : 183 g/t
over 0.50 m, 59.60g/t Au over 0.65 m, 30.50 g/t Au over 0.30 m,
23.70 g/t Au over 0.80 m, 16.50 g/t Au over 0.70 m, 14.65 g/t Au
over 0.60 m, 9.12 g/t over 0.30 m;
- Gold mineralization appears to be
associated with widespread limonitisation (Py) +
sericitization, and all holes intersected the favourable
OGT mineralized and altered horizon.
These holes tested a segment of approximately 200
metres to the northeast and along strike of the 2021 drilling
campaign highlighted by hole WB21-02 that returned two high-grade
sections of 46.94 g/t Au over 3.85 m and 28.52 g/t Au over
2.10 m (see Sept. 15, 2021 News Release). The results for
an additional 2,000 metres of drilling are expected shortly.
Figure 1: First 2022 drilling results at
the OGT accompanying this announcement is available
at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c94efbfe-4761-44c6-a28f-a1e81f16c153
Today’s results include the first 19 holes for
2,389 metres of the ongoing 10,000 metres 2022 drilling campaign.
Table 1 highlights significant results from this first set of
holes. To date, 37 holes have been drilled in this first phase of
drilling for a total of approximately 4,300 metres. Assay results
are pending for an additional 2,000 metres of core already sent to
the laboratory. They will be announced when received.Table
1: Assay result highlights from reported holes
Hole ID |
From (m) |
To (m) |
Length* (m) |
Au (g/t) |
WB22-19 |
7.00 |
31.00 |
24.00 |
0.20 |
incl. |
7.00 |
22.35 |
15.35 |
0.30 |
incl. |
7.00 |
11.50 |
4.50 |
0.90 |
incl. |
7.25 |
7.60 |
0.35 |
8.27 |
WB22-20 |
8.80 |
47.00 |
38.20 |
0.15 |
incl. |
8.80 |
14.60 |
5.80 |
0.32 |
incl. |
8.80 |
9.10 |
0.30 |
3.77 |
incl. |
14.00 |
14.60 |
0.60 |
1.18 |
|
|
|
|
|
and |
34.85 |
47.00 |
12.15 |
0.32 |
incl. |
34.85 |
35.15 |
0.30 |
5.10 |
incl. |
46.75 |
47.00 |
0.25 |
4.80 |
WB22-21 |
9.70 |
26.35 |
16.65 |
0.30 |
incl. |
15.50 |
26.35 |
10.85 |
0.42 |
incl. |
15.50 |
16.50 |
1.00 |
2.92 |
incl. |
22.10 |
22.50 |
0.40 |
1.12 |
WB22-22 |
0.70 |
25.00 |
24.30 |
0.47 |
incl. |
6.10 |
25.00 |
18.90 |
0.60 |
incl. |
6.10 |
7.10 |
1.00 |
1.95 |
incl. |
21.30 |
25.00 |
3.70 |
2.40 |
incl. |
21.30 |
22.05 |
0.75 |
3.02 |
incl. |
22.05 |
23.00 |
0.95 |
4.37 |
incl. |
24.00 |
25.00 |
1.00 |
2.13 |
WB22-23 |
10.00 |
28.00 |
18.00 |
0.33 |
incl. |
10.00 |
11.00 |
1.00 |
1.34 |
incl. |
27.45 |
28.00 |
0.55 |
7.83 |
WB22-24 |
6.50 |
35.00 |
28.50 |
0.44 |
incl. |
6.50 |
11.85 |
5.35 |
1.12 |
incl. |
6.50 |
7.50 |
1.00 |
5.55 |
incl. |
11.40 |
11.85 |
0.45 |
0.93 |
|
|
|
|
|
and |
18.80 |
27.40 |
8.60 |
0.73 |
incl. |
21.35 |
27.40 |
6.05 |
1.00 |
incl. |
20.80 |
23.50 |
2.70 |
2.07 |
incl. |
21.35 |
21.65 |
0.30 |
1.95 |
and |
21.65 |
22.00 |
0.35 |
4.77 |
and |
22.40 |
22.80 |
0.40 |
5.73 |
and |
22.80 |
23.50 |
0.70 |
0.93 |
and |
27.10 |
27.40 |
0.30 |
0.96 |
Table 1. Assay result highlights from
reported holes
(continued)
Hole ID |
From (m) |
To (m) |
Length* (m) |
Au (g/t) |
WB22-25 |
1.40 |
36.75 |
35.35 |
3.12 |
incl. |
1.40 |
18.30 |
16.90 |
6.47 |
incl. |
2.00 |
5.00 |
3.00 |
34.93 |
incl. |
2.00 |
2.90 |
0.90 |
2.61 |
and |
2.90 |
3.50 |
0.60 |
14.65 |
and |
3.50 |
4.00 |
0.50 |
183.00 |
and |
4.00 |
4.45 |
0.45 |
4.00 |
and |
4.45 |
5.00 |
0.55 |
0.63 |
|
|
|
|
|
and |
11.00 |
18.30 |
7.30 |
0.60 |
incl. |
11.00 |
12.20 |
1.20 |
1.92 |
and |
14.90 |
15.30 |
0.40 |
2.34 |
incl. |
17.25 |
18.30 |
1.05 |
1.05 |
and |
35.70 |
36.75 |
1.05 |
0.61 |
WB22-26 |
20.20 |
58.00 |
37.80 |
0.92 |
incl. |
20.20 |
53.55 |
33.35 |
1.00 |
incl. |
20.20 |
34.50 |
14.30 |
2.18 |
incl. |
20.20 |
27.10 |
6.90 |
4.41 |
incl. |
20.20 |
21.45 |
1.25 |
5.70 |
incl. |
25.50 |
26.50 |
1.00 |
22.00 |
incl. |
53.15 |
53.55 |
0.40 |
4.31 |
incl. |
57.00 |
58.00 |
1.00 |
1.22 |
WB22-27 |
29.70 |
32.20 |
2.50 |
0.59 |
incl. |
29.70 |
30.65 |
0.95 |
0.92 |
WB22-28 |
27.70 |
28.95 |
1.25 |
2.89 |
incl. |
27.70 |
28.15 |
0.45 |
6.61 |
|
28.15 |
28.95 |
0.80 |
0.79 |
WB22-29 |
17.00 |
79.15 |
62.15 |
0.16 |
incl. |
17.00 |
24.70 |
7.70 |
0.49 |
incl. |
17.00 |
17.70 |
0.70 |
4.21 |
and |
21.00 |
22.00 |
1.00 |
0.56 |
|
40.00 |
41.00 |
1.00 |
0.50 |
|
|
|
|
|
and |
57.10 |
79.15 |
22.05 |
0.25 |
incl. |
57.10 |
58.00 |
0.90 |
0.87 |
incl. |
63.00 |
64.00 |
1.00 |
1.10 |
incl. |
78.50 |
79.15 |
0.65 |
2.97 |
Table 1. Assay result highlights from
reported holes
(continued)
Hole ID |
From (m) |
To (m) |
Length* (m) |
Au (g/t) |
WB22-30 |
90.50 |
92.55 |
2.05 |
1.75 |
incl. |
90.50 |
91.00 |
0.50 |
4.79 |
and |
91.00 |
92.00 |
1.00 |
0.96 |
|
111.30 |
111.75 |
0.45 |
0.85 |
WB22-31 |
NIL |
|
|
|
WB22-32 |
3.70 |
49.00 |
45.30 |
0.40 |
incl. |
3.70 |
46.35 |
42.65 |
0.42 |
incl. |
3.70 |
19.95 |
16.25 |
0.97 |
incl. |
3.70 |
10.00 |
6.30 |
2.46 |
incl. |
3.70 |
7.00 |
3.30 |
3.25 |
and |
27.25 |
27.70 |
0.45 |
1.30 |
and |
46.00 |
46.35 |
0.35 |
1.23 |
WB22-33 |
7.80 |
48.00 |
40.20 |
0.29 |
incl. |
7.80 |
31.30 |
23.50 |
0.46 |
incl. |
16.05 |
31.30 |
15.25 |
0.66 |
incl. |
29.90 |
31.30 |
1.40 |
6.77 |
incl. |
30.35 |
30.65 |
0.30 |
30.50 |
WB22-34 |
12.90 |
31.00 |
18.10 |
0.22 |
incl. |
12.90 |
13.15 |
0.25 |
0.59 |
|
|
|
|
|
and |
25.45 |
28.95 |
3.50 |
0.64 |
incl. |
26.45 |
28.45 |
2.00 |
0.89 |
incl. |
26.45 |
26.95 |
0.50 |
2.72 |
and |
28.00 |
28.45 |
0.45 |
0.91 |
WB22-35 |
14.00 |
22.85 |
8.85 |
1.78 |
incl. |
14.90 |
17.50 |
2.60 |
5.83 |
incl. |
14.90 |
16.50 |
1.60 |
7.86 |
and |
22.20 |
22.85 |
0.65 |
0.62 |
WB22-36 |
3.80 |
25.90 |
22.10 |
3.97 |
incl. |
3.80 |
18.00 |
14.20 |
5.79 |
incl. |
3.80 |
8.35 |
4.55 |
15.72 |
incl. |
3.80 |
7.00 |
3.20 |
22.28 |
incl. |
3.80 |
4.50 |
0.70 |
16.50 |
and |
4.50 |
5.15 |
0.65 |
59.60 |
and |
5.15 |
7.00 |
1.85 |
11.35 |
incl. |
16.40 |
18.00 |
1.60 |
6.70 |
and |
24.65 |
25.90 |
1.25 |
3.90 |
WB22-37 |
2.15 |
22.90 |
20.75 |
0.11 |
incl. |
11.00 |
14.70 |
3.70 |
0.50 |
incl. |
12.00 |
13.00 |
1.00 |
0.95 |
incl. |
13.45 |
13.85 |
0.40 |
0.79 |
*Stated lengths in metres are downhole core
lengths and not true widths. True widths will be calculated once
more drilling confirms the geometry of the quartz-sulphide
system.
Table 2: Coordinates and length of
reported drill holes
DDH # |
Easting UTM Nad83 |
Northing UTM Nad83 |
Elevation (m) |
Az (°) |
Dip (°) |
Length (m) |
WB22-19 |
660 354 |
5 259 522 |
385 |
115 |
-45 |
100 |
WB22-20 |
660 354 |
5 259 522 |
385 |
115 |
-65 |
101 |
WB22-21 |
660 354 |
5 259 522 |
385 |
160 |
-45 |
106 |
WB22-22 |
660 354 |
5 259 522 |
385 |
160 |
-65 |
101 |
WB22-23 |
660 363 |
5 259 487 |
385 |
160 |
-45 |
54 |
WB22-24 |
660 341 |
5 259 481 |
386 |
155 |
-45 |
88 |
WB22-25 |
660 341 |
5 259 482 |
386 |
155 |
-65 |
74 |
WB22-26 |
660 316 |
5 259 541 |
387 |
115 |
-65 |
145 |
WB22-27 |
660 323 |
5 259 461 |
388 |
115 |
-45 |
52 |
WB22-28 |
660 322 |
5 259 462 |
388 |
115 |
-65 |
143 |
WB22-29 |
660 287 |
5 259 479 |
388 |
115 |
-65 |
158 |
WB22-30 |
660 232 |
5 259 504 |
386 |
115 |
-65 |
224 |
WB22-31 |
660 235 |
5 259 577 |
382 |
115 |
-65 |
239 |
WB22-32 |
660 359 |
5 259 535 |
385 |
155 |
-45 |
136 |
WB22-33 |
660 359 |
5 259 535 |
385 |
155 |
-65 |
116 |
WB22-34 |
660 349 |
5 259 509 |
386 |
155 |
-45 |
142 |
WB22-35 |
660 349 |
5 259 509 |
386 |
155 |
-65 |
113 |
WB22-36 |
660 340 |
5 259 505 |
387 |
155 |
-45 |
156 |
WB22-37 |
660 340 |
5 259 505 |
387 |
155 |
65 |
142 |
19 Holes |
|
|
|
|
|
2,389 Metres |
The recently completed drill holes and field
observations show the same mineralized quartz veins and stockworks
with disseminated sulphides locally (pyrite, galena, sphalerite,
malachite, azurite, tetrahedrite) and sporadic visible gold within
widespread limonite (py) + sericite alteration (Figure 2). The
alteration appears to be localized at the contact between
brecciated rhyolite and sediments and along the major high-grade
quartz veins.
Figure 2: Example of pervasive alteration
and mineralization accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b8094431-78e2-48ef-a910-72837ef0b936
ONGOING 10,000M DRILLING PROGRAM AT THE
OGTFollowing the success of the initial 2021 stripping and
drilling program, the 2022 drilling campaign was designed to
confirm the extent at shallow depth of the alteration and
mineralization found at surface along the OGT. Since drilling began
in late January, more than 37 holes for 4,300 metres have been
completed (Figure 3).
Puma’s technical team estimates that the 10,000
metres drilling campaign will be completed in June, after which the
2022 field exploration program will begin over the entire property.
A detailed exploration program is being prepared and will be
announced shortly. It will focus on first priority targets defined
from the current geophysical, geochemical and drilling
compilation.
Figure 3: Localisation of the O’Neil Gold
Trend (OGT) accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/cf56a4b3-c54a-442b-a5a3-d9dde162a6d0
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 / LinkedInVisit 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.
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