Puma Exploration Completes Its Winter Drilling Program and Outlines Its Summer Field Exploration Program at Williams Brook
June 28 2022 - 6:00AM
Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or
"Puma") has completed its winter-spring drilling program and
launched its fully-funded 2022 summer field exploration program at
its Williams Brook Gold Project in New Brunswick, Atlantic Canada.
COMPLETION OF THE 10,000 METRES DRILLING
PROGRAM ALONG THE OGT
Puma completed its 10,000 metres drilling
program at the O’Neil Gold Trend (“OGT”) that was launched at the
end of January 2022. Ninety-seven (97) short holes were drilled for
a total of 10,348 metres. Results for the first 43 holes totalling
5,203 metres have been reported to date (see April 28, 2022 and
June 8, 2022 News Releases). The remaining 54 holes have been
logged, and visible gold was identified in five (5) holes. A total
of 2,170 core samples have been sent to ALS CHEMEX for analysis.
Assay results will be announced when received. News flow from drill
results is expected to continue over the summer.
Picture 1: OGT main site drilling
area
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2022 SUMMER EXPLORATION
PROGRAMThe fully-funded $2M summer program is devised to
identify new areas of high-grade gold mineralization at surface on
Puma’s extensive 40,000 ha land package and prepare for a 2022-2023
drilling program.
Puma continuously refines its exploration model
and discovery tools. In 2020, the Company discovered the O’Neil
Gold Trend from one initial 50 g/t Au grab sample. Puma then
further defined the OGT along a 750 metres strike length. This
summer, the Company’s exploration program will be guided by Mira
Geoscience’s Mineral Potential Index (“MPI”) map
generated by compiling and analyzing all the data gathered by Puma
since 2019 (see Figure 1). The data set includes results from more
than 5,000 metres of trenching, 5,000 grab samples, 7,500 metres of
drilling, property-wide heliborne VTEM and radiometric surveys,
structural data analysis from Terrane Geoscience and previous
geochemical soil and till surveys.
Figure 1: Map of prospective targets
(credit: Mira Geoscience)
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The MPI map shows that the OGT
may extend more than 15 km and that other similar, highly
prospective areas are present on Puma’s large land package. Work
will concentrate on the SW and NE extensions of the currently
defined OGT, the WB1 and WB2 gold occurrences (see the black
circles in Figure 1), and other areas of the Williams Brook
property that have not been previously explored.
Following the Company’s demonstrated success,
Puma will employ the same approach to identify potential targets:
prospecting, soil sampling, trenching and stripping. This proven
discovery method will identify new drilling targets for the fall
and winter of 2022-2023. Puma has already begun stripping the WB2
Gold Trend (see Picture 2) to extend and confirm the mineralization
found by a previous operator. Historical results, from Blue Note
Mining’s work in 2008, include grab samples grading up to
5.4 g/t Au and drilling intersections of
23 metres of 1.05 g/t Au within a lower grade
envelope of 0.52 g/t Au over 55 metres
(WB08-03), 0.67g/t Au over 41 metres (WB08-04)
and 0.21g/t Au over 64 metres
(WB08-05). With only limited exploration work
conducted on the WB2 to date, Puma will employ its systematic
discovery tool to extend this gold zone.
Picture 2: Current stripping operation
at the WB2 Gold trend.
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HIGH POTENTIAL EXPLORATION
MODEL
Puma’s surface and near-surface drilling results
indicate that a large epithermal/orogenic system is possible at
Williams Brook. Gold mineralization at the O’Neil Gold Trend is
characterized by significant high-grade gold intercepts within a
lower-grade envelope. This gold mineralization is interpreted to be
the surface expression of a large and pervasive supergene gold
enrichment in a low to mid sulphidation epithermal quartz sulphide
system (Figure 2). The O’Neil Gold Trend could host one of these
multi-kilometric systems that are highly prospective for gold
discoveries.
Figure 2: Potential large gold system at
Williams Brook Gold Project
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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.
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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