Puma Exploration Inc. (TSXV: PUMA, OTC: PUXPF) (the "Company" or
"Puma") is pleased to report results from another 24 holes for
2,814 metres of its ongoing 10,000 metres 2022 drilling campaign at
its 100%-owned Williams Brook Gold Project in Northern New
Brunswick. Several new high-grade veins were intersected at shallow
depth (from 0-50 metres), including
51.73 g/t Au over 1.85
metres and 10.70 Au over 2.00 metres in hole WB22-66 and 35.09 g/t
Au over 1.45 metres in hole WB22-39. These two (2) new
mineralized intersections are located 500 metres apart along the
O’Neil Gold Trend (“OGT”) that remains open in all directions (see
Figure 1).
HIGHLIGHTS OF REPORTED HIGH-GRADE
INTERSECTIONS*:■ WB22-39: 11.71 g/t Au over 2.50 m
(1.23 g/t Au over 24.70 m)■ WB22-57: 35.09 g/t Au
over 1.45 m (4.30 g/t Au over 12.30 m)■ WB22-58:
16.85 g/t Au over 1.20 m (1.15 g/t Au over 23.00 m)■
WB22-60: 21.00 g/t Au over 0.60 m (2.38 g/t Au over 6.20
m)■ WB22-66: 51.73 g/t Au over 1.85 m (13.49 g/t
Au over 7.15 m)■ WB22-66: 10.70 g/t Au over 2.00 m
(5.01 g/t Au over 4.40 m)*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.
The high-grade gold discovery in hole WB22-66 is
of particular interest. It was drilled in an area (gap) between the
Lynx and the Pepitos Gold zones where the thickness of the
overburden prevented stripping and trenching before drilling. More
than 30 specks of visible gold (“VG’’) were identified in hole
WB-22-66 (see Image 1) in an area that had not been sampled,
indicating that the potential of the OGT, especially in this area,
may be even higher than initially anticipated.
A total of 43 holes for 5,203 metres in the
current 10,000 metres drilling program have been reported to date
(including today results). An additional 31 holes are now being
logged with 2,127 core samples in prep for analysis. Visible gold
was identified in four (4) holes awaiting assaying (see Figure 1).
Drilling is ongoing, with a total of 8,800 metres completed to
date. The Company expects to complete its 10,000 m program as
planned this month. Pending assay results will be announced when
received, and news flow is expected to be continuous over the
summer.
Figure 1: Location of reported drill
holes (current release in pink)
https://www.globenewswire.com/NewsRoom/AttachmentNg/4fd52f45-14f2-49ef-a8fa-ab65dc51563c
"The results from our 10,000 metres 2022
drilling program provide us with phenomenal new information to
build our understanding of this exciting and prolific new
Maritimes’ Gold District on the western edge of the Bathurst Mining
Camp. " said Marcel Robillard, President and CEO of Puma
Exploration.
" We’ve already launched our fully financed
summer field exploration program to identify drilling targets for
the fall program. Thanks to our loyal and supportive shareholders,
we are fully funded, and we will continue to aggressively develop
Williams Brook.” added Marcel Robillard.
Image 1: More than 30 specks of VG in
hole WB22-66 (51.73 g/t Au over 1.85 m)
https://www.globenewswire.com/NewsRoom/AttachmentNg/7f902a57-b70d-488a-a208-783820b79688
"The ongoing 2022 drilling campaign, designed to
confirm at shallow depth the alteration and mineralization found at
surface by the aggressive grab sampling program initiated in 2019,
has proven to be extremely successful. The OGT is now recognized
and partly tested over 750 metres of strike length, and it is still
open!” added Réjean Gosselin, Executive Chairman of the Board.
Since exploration work began at the Williams
Brook Gold Project in 2019, more than 95 holes for 11,100 metres
have been completed on 750 metres of the OGT. Several holes have
returned significant gold intersections (see Table 1 and 2). These
high-grade gold intercepts appear to be the surface expression of a
large and pervasive supergene gold enrichment from a low
sulphidation epithermal quartz sulphide system. The O’Neil Gold
Trend is one of these multi-kilometric systems that are highly
prospective for gold discoveries.
Table1: Highlights of high-grade gold
intersections at the OGT since 2021*
Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
WB21-01 |
4.00 |
6.10 |
2.10 |
12.71 |
WB21-02 |
7.20 |
10.20 |
3.00 |
8.33 |
WB21-02 |
13.70 |
15.80 |
2.10 |
28.52 |
WB21-02 |
45.60 |
49.45 |
3.85 |
46.94 |
WB21-03 |
55.90 |
58.10 |
2.20 |
7.81 |
WB21-05 |
26.00 |
28.00 |
2.00 |
12.64 |
WB21-06 |
46.80 |
49.70 |
2.90 |
16.92 |
WB21-09 |
16.30 |
18.00 |
1.70 |
15.52 |
WB21-12 |
28.60 |
32.40 |
3.80 |
6.93 |
WB21-16 |
80.00 |
88.35 |
8.35 |
5.11 |
WB21-17 |
107.00 |
111.65 |
4.65 |
4.85 |
WB22-25 |
2.00 |
5.00 |
3.00 |
34.93 |
WB22-26 |
25.50 |
27.10 |
1.60 |
14.06 |
WB22-35 |
14.90 |
17.50 |
2.60 |
5.83 |
WB22-36 |
3.80 |
7.00 |
3.20 |
22.28 |
WB22-39 |
26.50 |
29.00 |
2.50 |
11.71 |
WB22-57 |
12.40 |
13.85 |
1.45 |
35.09 |
WB22-58 |
11.70 |
12.90 |
1.20 |
16.85 |
WB22-60 |
40.00 |
40.60 |
0.60 |
21.00 |
WB22-66 |
32.00 |
34.00 |
2.00 |
10.70 |
WB22-66 |
66.50 |
68.35 |
1.85 |
51.73 |
*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. Significant assay results from
reported holes*
Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
WB22-38 |
33.00 |
33.40 |
0.40 |
0.79 |
WB22-39 |
8.30 |
33.00 |
24.70 |
1.23 |
incl. |
21.70 |
29.00 |
7.30 |
4.05 |
incl. |
26.50 |
29.00 |
2.50 |
11.71 |
WB22-42 |
20.05 |
34.60 |
14.55 |
0.14 |
incl. |
20.05 |
22.75 |
2.70 |
0.62 |
incl. |
22.50 |
22.75 |
0.25 |
2.74 |
WB22-43 |
1.80 |
27.00 |
25.20 |
0.30 |
incl. |
1.80 |
2.80 |
1.00 |
2.26 |
and |
19.70 |
24.10 |
4.40 |
1.10 |
incl. |
19.70 |
20.10 |
0.40 |
8.25 |
incl. |
23.30 |
24.10 |
0.80 |
1.47 |
and |
136.20 |
137.20 |
1.00 |
0.39 |
Table 2. Significant assay results from
reported holes (continued)*
Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
WB22-44 |
24.60 |
28.85 |
4.25 |
0.47 |
incl. |
24.60 |
26.15 |
1.55 |
0.98 |
WB22-45 |
28.10 |
35.65 |
7.55 |
0.27 |
incl. |
28.10 |
28.75 |
0.65 |
1.91 |
incl. |
35.00 |
35.65 |
0.65 |
0.88 |
WB22-46 |
11.10 |
29.60 |
18.50 |
0.16 |
incl. |
23.20 |
24.00 |
0.80 |
3.43 |
WB22-48 |
assays |
pending |
|
|
WB22-49 |
assays |
pending |
|
|
WB22-50 |
10.00 |
29.05 |
19.05 |
0.11 |
incl. |
20.45 |
20.70 |
0.25 |
2.45 |
incl. |
27.85 |
28.25 |
0.40 |
2.00 |
WB22-51 |
4.05 |
17.50 |
13.45 |
0.18 |
incl. |
4.05 |
4.60 |
0.55 |
3.73 |
WB22-52 |
8.00 |
15.30 |
7.30 |
2.13 |
incl. |
9.90 |
11.90 |
2.00 |
3.08 |
incl. |
13.80 |
15.30 |
1.50 |
5.17 |
WB22-54 |
17.95 |
25.50 |
7.55 |
1.05 |
incl. |
17.95 |
18.65 |
0.70 |
2.72 |
incl. |
21.40 |
25.50 |
4.10 |
1.46 |
incl. |
24.80 |
25.50 |
0.70 |
5.81 |
WB22-55 |
30.35 |
40.95 |
10.60 |
0.31 |
incl. |
30.35 |
31.00 |
0.65 |
4.89 |
WB22-56 |
48.35 |
49.00 |
0.65 |
0.56 |
WB22-57 |
2.70 |
15.00 |
12.30 |
4.30 |
incl. |
2.70 |
3.50 |
0.80 |
1.97 |
and |
9.55 |
13.85 |
4.30 |
11.91 |
incl. |
12.40 |
13.85 |
1.45 |
35.09 |
and |
66.40 |
67.40 |
1.00 |
0.45 |
and |
71.50 |
72.30 |
0.80 |
0.56 |
WB22-58 |
8.00 |
31.00 |
23.00 |
1.15 |
incl. |
8.00 |
16.00 |
8.00 |
3.28 |
incl. |
10.10 |
12.90 |
2.80 |
8.57 |
incl. |
11.70 |
12.90 |
1.20 |
16.85 |
WB22-59 |
23.90 |
28.25 |
4.35 |
0.59 |
incl. |
27.00 |
28.25 |
1.25 |
1.26 |
Table 2. Significant assay results from
reported holes (continued)*
WB22-60 |
38.50 |
44.70 |
6.20 |
2.38 |
incl. |
38.50 |
42.50 |
4.00 |
3.73 |
incl. |
40.00 |
40.60 |
0.60 |
21.00 |
WB22-62 |
77.80 |
78.30 |
0.50 |
0.49 |
WB22-63 |
assays |
pending |
|
|
WB22-64 |
assays |
pending |
|
|
WB22-65 |
assays |
pending |
|
|
WB22-66 |
30.60 |
35.00 |
4.40 |
5.01 |
incl. |
32.00 |
34.00 |
2.00 |
10.70 |
and |
66.25 |
73.40 |
7.15 |
13.49 |
incl. |
66.50 |
68.35 |
1.85 |
51.73 |
*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 3: Coordinates of reported drill
holes
DDH # |
Easting UTM Nad83 |
Northing UTM Nad83 |
Elevation (m) |
Az (°) |
Dip (°) |
Length (m) |
WB22-38 |
660 351 |
5 259 553 |
387 |
160 |
65 |
137 |
WB22-39 |
660 346 |
5 259 540 |
387 |
155 |
65 |
128 |
WB22-40 |
660 341 |
5 259 527 |
388 |
155 |
65 |
152 |
WB22-41 |
660 332 |
5 259 522 |
387 |
155 |
65 |
137 |
WB22-42 |
660 332 |
5 259 501 |
388 |
155 |
65 |
146 |
WB22-43 |
660 322 |
5 259 497 |
388 |
155 |
65 |
140 |
WB22-44 |
660 332 |
5 259 479 |
386 |
155 |
45 |
118 |
WB22-45 |
660 332 |
5 259 479 |
386 |
155 |
65 |
92 |
WB22-46 |
660 327 |
5 259 466 |
388 |
155 |
45 |
79 |
WB22-47 |
660 327 |
5 259 466 |
388 |
155 |
65 |
97 |
WB22-50 |
660 321 |
5 259 452 |
388 |
155 |
65 |
65 |
WB22-51 |
660 323 |
5 259 425 |
388 |
155 |
45 |
116.5 |
WB22-52 |
660 323 |
5 259 425 |
388 |
155 |
65 |
89 |
WB22-53 |
660 323 |
5 259 425 |
388 |
65 |
45 |
86 |
WB22-54 |
660 323 |
5 259 425 |
388 |
65 |
65 |
65 |
WB22-55 |
660 303 |
5 259 405 |
390 |
155 |
45 |
104.5 |
WB22-56 |
660 294 |
5 259 423 |
390 |
155 |
65 |
163 |
WB22-57 |
660 294 |
5 259 386 |
390 |
155 |
45 |
86 |
WB22-58 |
660 294 |
5 259 386 |
390 |
155 |
65 |
100 |
WB22-59 |
660 285 |
5 259 404 |
390 |
155 |
65 |
117 |
WB22-60 |
660 213 |
5 259 317 |
389 |
115 |
65 |
230 |
WB22-61 |
660 190 |
5 259 328 |
388 |
115 |
65 |
138 |
WB22-62 |
660 192 |
5 259 327 |
388 |
155 |
45 |
100 |
24 Holes |
|
|
|
|
|
2,814 Metres |
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") MEASURES
Drill 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.
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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