Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or
"Puma") is pleased to announce that it has strategically increased
its land holdings by 7,391 hectares at its 100%-owned Williams
Brook Gold Project in Northern New Brunswick (see Figure 1).
The Company staked two (2) contiguous claim
blocks (the Northern Rocky Brook and Jacquet River properties)
covering 340 claims northeast of Puma’s current holdings and close
to the Rocky Brook Millstream fault (“RBMF”). The RBMF stretches
over 200 km and is a major control for gold deposition. Several
major gold deposits from Maine to Ireland (Oceana Gold, New Found
Gold, Marathon Gold, Dalradian Gold) occur close to similar
orogenic faults or their subsidiaries.
Puma’s Williams Brook Gold Project is flanked by
the Rocky Brook Millstream fault (“RBMF”), a major regional
structure formed during the Appalachian Orogeny and a significant
control for gold deposition in the region. This orogenic gold
environment is host to several large gold occurrences and
deposits.
Puma’s recent gold discoveries indicate that a
large gold system is at play at Williams Brook and that a gold camp
is possible in the region. With this in mind, the Company set out
to strategically acquire all available prospective ground fault
that hosts the favourable felsic volcanic and sedimentary units
shown to carry gold in the vicinity of the Rocky Brook Millstream
fault.
The newly staked Northern Rocky Brook and
Jacquet River properties are located close to paved roads and are
readily accessible by logging roads. Historically, very little
exploration was conducted on the claims. Puma’s discovery tool,
developed through its work on the Lynx Gold Zone at the Williams
Brook property, has the potential to uncover significant gold
mineralization there.
No immediate fieldwork is planned on the new
properties this fall. The Company’s focus will remain on the Lynx
Gold Zone at the Williams Brook property. A detailed compilation of
historical data will be completed this winter to highlight
prospective areas and assess their priority ranking for the 2023
field season.
ABOUT THE WILLIAMS BROOK GOLD PROJECT
AND THE LYNX GOLD ZONE
The Williams Brook Gold Project
is comprised of 6 claim blocks covering more than 47,300 ha in an
established and mining-friendly jurisdiction, near paved roads and
with excellent infrastructure in place (Figure 2).
The Lynx Gold Zone is
interpreted to be a mineralized felsic dome within a large
epithermal/orogenic gold system part of the Appalachian Orogeny.
The high-grade gold mineralization is characterized by finely
disseminated gold in quartz (veins, veinlets, stockworks, breccias)
affected by pervasive supergene alteration. The stratigraphy of the
dome is well-defined and typical: fine laminated turbidite-type
sedimentary unit, rhyolite breccia with sedimentary fragments,
massive rhyolite unit and sedimentary and volcano-clastic units.
The contact between the sediment and the rhyolite allowed for the
movement of gold-bearing fluids and is characterized by highly
silicified iron oxide carbonates and intense sericite alteration.
The Lynx Gold Zone was discovered in 2020 by high-grade surface
samples and later recognized at depth in 2021 by hole
WB21-02 that intersected 5.55 g/t Au over 50.15 m
from surface, including two high-grade gold veins with 9.88 g/t Au
over 8.60 m and 46.94 g/t Au over 3.85 m.
UPCOMING WEBINARPuma invites
shareholders and other interested parties to participate in a
webinar today, Monday, October 17, 2022, at 4:00 pm
EST. Marcel Robillard, President and CEO, will provide an
overview of the 2022 Exploration Program and answer questions.
Click on
https://us06web.zoom.us/webinar/register/WN_AggStrceSKKGaCGRvs1CKg
to register.
QUALIFIED PERSON
Dominique 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 a 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.
Images accompanying this announcement are
available at:
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