AveragePenny
2 years ago
$PUMXF $PUMA.V Puma Exploration Reports Assay Results From Fall 2022 HQ Drilling and Confirms Non-Acid Generating Rock at the Lynx Gold Zone
https://www.globenewswire.com/news-release/2023/03/30/2637736/0/en/Puma-Exploration-Reports-Assay-Results-From-Fall-2022-HQ-Drilling-and-Confirms-Non-Acid-Generating-Rock-at-the-Lynx-Gold-Zone.html
RIMOUSKI, Quebec, March 30, 2023 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the “Company” or “Puma”) is pleased to report up to 12.03 g/t gold over 1.50 m in short (only 6 to 18 m depth) HQ holes drilled last fall at the Lynx Gold Zone (“LGZ”). The holes were drilled as part of an expanded metallurgical test announced on November 15, 2022. Static Acid Base Accounting and Total Sulphur testing also determined that the rock is non-acid-generating.
“These preliminary results from our expanded metallurgical test are very positive. Our gold-bearing quartz veins contain almost no sulphide or arsenic. Bulk sampling and potential mining would therefore be non-acid-generating. These results are significant as they enable us to further de-risk a potential mining operation at the Lynx Gold Zone,” notes Marcel Robillard, President and CEO of Puma Exploration.
The expanded metallurgical test was conducted to better define the gold mineralization found at surface (within the first 10 metres) at the Lynx Gold Zone, identify opportunities and potential challenges for gold recovery and help design the flowsheet (recipe) for processing the upcoming bulk sample. Test work on 300 kg of material collected on each of the 12 main quartz veins (3,300 kg total) at the LGZ is pending and will be released in the coming weeks.
HQ DRILLING
Eight (8) HQ holes, for a total of 102 m, were drilled on three (3) main quartz veins. Drilling targeted both high- and low-grade veins (see Figure 1). Since the veins are known to dip, the holes were collared vertically to hit both the quartz veins at surface and the rhyolite underneath. Sampling of the quartz veins and the host rock was undertaken to corroborate the gold results of grab samples collected during surface exploration, verify their acid-generating potential, identify any negative implications of an open pit operation and provide valuable information for planning the upcoming bulk sample.
Consistent with results to date, the gold grades of the outcropping quartz veins assayed in the drill core reflect the gold grades from grab samples collected at surface as shown in holes WB22-114 with 25.20 g/t Au over 0.45 m, WB22-118 with 19.65 g/t Au over 0.90 m and WB22-117 with 7.99 over 0.90 m (see Figure 2). Of note and as anticipated, gold mineralization was continuous from surface with assays returning 3.05 g/t Au over 6.00 m (WB22-114), 1.23 g/t over 10.00 m (WB22-117), and 2.52 g/t Au over 10.00 m (WB22-118) (see Table 1).
AveragePenny
2 years ago
$PUMXF Puma Exploration Receives Approval for a 4,000 T Bulk Sample at Lynx Zone and Welcomes Dr. Simon Dominy to its Advisory Committee
https://www.globenewswire.com/news-release/2023/02/28/2616951/0/en/Puma-Exploration-Receives-Approval-for-a-4-000-T-Bulk-Sample-at-Lynx-Zone-and-Welcomes-Dr-Simon-Dominy-to-its-Advisory-Committee.html
RIMOUSKI, Quebec, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the “Company” or “Puma”) is pleased to announce that it has received from New Brunswick’s Department of Natural Resources and Energy Development, the authorization to proceed with a 4,000 tonnes bulk sample at the Lynx Gold Zone (“LGZ”).
Dr. Simon Dominy, an expert in the design and implementation of bulk sampling programs, will join Puma’s advisory team to supervise the Company’s Bulk Sampling Program (“BSP”) to ensure proper planning and success.
Bulk samples are undertaken to de-risk a project by verifying local grade estimates and metallurgical test work from drill holes and/or channel samples. They also explore the scale-up potential and metallurgical responses and provide geological and geotechnical information on the extraction area. The high-grade gold mineralization at Lynx is not homogeneous but rather exhibits the “nugget effect”. Puma’s fully permitted 4,000 tonnes bulk sample will be collected from several different areas at the Lynx Gold Zone (see Figure 1) to better characterize the zone's mineralization and potential local average gold grade.
Marcel Robillard, President, and CEO commented “The 12,000 m we’ve drilled at the Lynx Gold Zone returned impressive grades, but we’d have to drill hundreds of thousands of metres to gain some certainty on the average grade of the zone. By running the bulk sample this year, we can get a better representation of the local grade around the sampling site and how it reconciles with the drilling’s predicted grade. This outside-the-box thinking will place Puma well ahead of our industry’s typical exploration timeline and be a key milestone in the advancement of the Williams Brook Gold Project.”
“The bulk sample will also move us closer to demonstrating whether we can potentially have a profitable mining operation at Williams Brook. If we can extract the gold on-site with gravity alone, we can significantly cut costs, reduce the environmental impact and streamline permitting. This would be a fantastic outcome for all stakeholders, the future of mining in New Brunswick, and our shareholders,” added Marcel.
The bulk sample is considered an exploration tool to be conducted in parallel with the upcoming planned drilling program which will begin shortly. The initial 3,000 metres of drilling will target the high-grade gold shoots interpreted from the 10,000 metres drilling program that was completed in 2022.
AveragePenny
2 years ago
$PUMXF Puma Exploration Invites You to PDAC 2023 Convention in Toronto This March
https://www.newsfilecorp.com/release/155959
Rimouski, Quebec--(Newsfile Corp. - February 27, 2023) - Puma Exploration Inc. (TSXV: PUMA) (OTCQB: PUMXF) (the "Company" or "Puma") invites shareholders and interested parties to visit Booth #IE2152 at the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 5 to Wednesday, March 8, 2023. Management and Puma's technical team will be on hand to discuss the Company's latest news and planned developments for 2023.
In addition, we invite you to attend the following presentations:
Marcel Robillard, President and CEO will present on March 7 at 10:14 am at the Corporate Presentation Forum for Investors, in Room 801A.
Mia Boiridy, Head of Investor Relations and Corporate Development will present at the Atlantic Edge Mining Investment Event, Ballroom A, Intercontinental Hotel on March 7 at 10:20 am. Attendance to this session does not require a PDAC registration. To attend click here Canada's Atlantic Edge Mining Investment Event (PDAC) Toronto 2023 Tickets, Tue, 7 Mar 2023 at 8:30 AM | Eventbrite.
Puma is also participating in the Precious metals Summit PDAC meeting program on March 7-8, 2023. If you'd like to schedule a 1 on 1 meeting, please visit www.precioussummit.com/event/pdac-2023-one-on-one-meeting-program/.
We look forward to seeing you there.
AveragePenny
2 years ago
$PUMXF Puma Exploration Strategically Increases Its Land Holdings at the Williams Brook Gold Project
https://www.globenewswire.com/news-release/2023/02/23/2614617/0/en/Puma-Exploration-Strategically-Increases-Its-Land-Holdings-at-the-Williams-Brook-Gold-Project.html
RIMOUSKI, Quebec, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to report that it has staked another 105 claims (2,300 ha) contiguous to its Williams Brook South property that now totals 8,290 ha (see Figure 1). The newly staked claims have seen very little exploration in the past. Still, they are highly prospective for gold mineralization as they exhibit the same geology as the Lynx Gold Zone.
Figure 1: Puma's assets in Northern New Brunswick
https://www.globenewswire.com/NewsRoom/AttachmentNg/80f104be-b288-4bd6-996e-6446c9928e88
Puma continues to secure land to increase the size of its Williams Brook Gold Project, which includes the flagship Williams Brook property, as well as the Williams Brook South, Jonpol, Portage, and Jacquet River properties. "These new land additions further consolidate our extensive ground position and increase our overall footprint in Northern New Brunswick. Puma now controls 100% of 50,000 ha of highly prospective and underexplored assets in what is now recognized as an emerging Gold District. We are committed to building a gold camp at Williams Brook project, and we'll continue to seize every opportunity to acquire ground that could increase our gold inventory," stated Marcel Robillard, President and CEO of Puma Exploration.
The new claims host felsic volcanic units in contact with sediments similar to the rocks that host the Lynx Gold Zone (see Figure 2). Very little fieldwork has ever been conducted on the new claims. Puma will proceed with detailed data compilation before applying its successful exploration method to the area.
Figure 2: Felsic volcanic units covered by the new claims
https://www.globenewswire.com/NewsRoom/AttachmentNg/8e8112f1-f556-4d71-936b-ce3ce8bdbb05
UPCOMING GOLD INVESTOR EVENTS
Puma invites shareholders and interested parties to stop by the booth, attend a presentation, or schedule a meeting at the upcoming conferences to discuss the Company's recent news and proposed developments:
Prospector and Developers Association Conference (PDAC) in Toronto
Booth IE2152
March 5-8, 2023
www.pdac.ca/convention
AveragePenny
2 years ago
$PUMXF Puma Exploration Adds Silver Exposure to Its Assets in Northern New Brunswick
https://www.globenewswire.com/news-release/2023/02/16/2609728/0/en/Puma-Exploration-Adds-Silver-Exposure-to-Its-Assets-in-Northern-New-Brunswick.html
RIMOUSKI, Quebec, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the “Company” or “Puma”) is pleased to announce that it has entered into a property agreement to add silver exposure to its current precious metals assets in Northern New Brunswick. The new acquisition, the Brunswick Au-Ag Property, with grab samples grading up to 1,300 g/t Ag and 2.42 g/t Au, adds 454 claims (10,554 ha) to Puma’s landholdings, now totalling 60,554 ha (Figure 1).
Figure 1: Puma’s assets and landholdings in Northern New Brunswick is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/0798227c-a079-4fc6-94f5-53f2b7b5a295
Marcel Robillard, President and CEO, commented, “With this acquisition, we seized the opportunity to add significant exposure to silver and increase the number of prospective targets for gold exploration on our already large holdings in Northern New Brunswick. The new claims are next to the historical Brunswick #12 and #6 mines that produced more than 700 M Oz Ag combined*. Recent prospecting work completed on the claims returned not only exceptional silver grades but also significant gold mineralization. This is a compelling reason for us to investigate this area further. The property has seen very little exploration work to date, and our team is excited to test its potential for precious and strategic metals”.
ABOUT THE BRUNSWICK AU-AG PROPERTY
The Brunswick Au-Ag property (Figure 2) is strategically located close to two (2) renowned base metals mines. Contiguous to the new property, the Brunswick #12 Mine operated from 1964 to 2013 and produced 449 M Oz Ag*. Only 2 km away, the Brunswick #6 Mine operated from 1966 to 1983 and produced 261 M Oz Ag*. *(Historic production numbers and grades provided by New Brunswick Energy & Mines, Minerals and Petroleum Division).
Figure 2: Location of the Brunswick Au-Ag property is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/a27d97c4-f205-4f46-ad25-4712879e1519
Initial prospection and sampling conducted on the property by a local prospector in 2022 confirmed the presence of high-grade silver and gold mineralization grading up to 1,300 g/t Ag and 2.42 g/t Au in a Devonian felsic intrusion.
Only limited fieldwork has been conducted on the intrusive rock as most of the effort was directed historically to the known Bathurst #12 horizon to chase VMS deposits. A small trenching operation conducted in 2022 returned high-grade samples along a 125 m-long zone with 661 g/t Ag + 0.48 g/t Au, 531 g/t Ag + 0.55 g/t Au and 376 g/t Ag + 0.56 g/t Au within the felsic intrusive rock, close to the contact with metasediments.
Puma is currently compiling data to evaluate the property's potential and to define exploration targets for the upcoming summer program. Puma’s main focus remains the Williams Brook Property, where a winter drilling program will begin shortly.
Over the past 24 months, the Company has consolidated a patchwork of mining claims held by different landowners through a series of separate transactions. Most mining claims have seen little to no modern exploration work and have never been explored as a major unique land package. Puma’s discoveries and successful exploration model at the Williams Brook property may lead to additional discoveries on the new land package and continue to add to the region’s precious metal inventory.
BRUNSWICK AU-AG PROPERTY OPTION AGREEMENT
To earn a 100% undivided interest in the Brunswick Au-Ag property, Puma agrees to:
Issue 150,000 common shares of the Company and a $10,000 cash payment to the seller on the signing of the agreement;
Issue 200,000 common shares of the Company and a $10,000 cash payment to the seller at the end of the due diligence period ending July 1, 2023;
Conduct $80,000 of exploration work on the property between July 1 and December 30, 2023;
Issue 200,000 common shares of the Company and make a $20,000 cash payment to the seller on or before July 1, 2024;
Issue 250,000 common shares of the Company and make a $25,000 cash payment to the seller on or before July 1, 2025;
Issue 350,000 common shares of the Company and make a $30,000 cash payment to the seller on or before July 1, 2026.
Additional performance payments:
Make a $25,000 cash payment to the seller upon a positive preliminary economic assessment (PEA to be defined in the definitive agreement);
Make a $50,000 cash payment to the seller upon a positive feasibility study (FS to be defined in the definitive agreement);
Make a one-time cash payment of $100,000 to the seller upon commercial production (commercial production to be defined in the definitive agreement).
The seller will retain a 2% NSR (net smelter return) royalty on any commercial production from the property. Puma may purchase 50% of the NSR royalty (or 1%) for $1 million at any time. Puma retains the right of first refusal on the remaining 1% NSR royalty held by the seller. The transaction is subject to the TSX Venture Exchange approval.
GRANT OF OPTIONS
Under its Stock Option Plan and subject to regulatory acceptance, Puma has granted 3,950,000 incentive Stock Options to certain Company directors, advisors, and consultants. The options vest immediately and are exercisable at $0.25 per common share until February 15, 2025.
UPCOMING GOLD INVESTOR EVENTS
Puma management will be available to discuss the Company’s recent news and proposed developments at the following upcoming events:
Prospector and Developers Association Conference (PDAC) in Toronto
March 5-8, 2023
www.pdac.ca/convention
Precious metals Summit PDAC meeting program on March 7-8, 2023
www.precioussummit.com/event/pdac-2023-one-on-one-meeting-program/
Swiss Mining Institute Conference in Zurich
March 21-22, 2023
swissmininginstitute.ch/program-march-2023/
Deutsche Goldmesse in Frankfurt
May 5-6, 2023
deutschegoldmesse.online/2023-spring-companies/
ABOUT THE WILLIAMS BROOK GOLD PROJECT
Puma’s flagship Williams Brook Project is comprised of 6 claim blocks covering more than 50,000 ha in Northern New Brunswick, an established and mining-friendly jurisdiction, near paved roads and with excellent infrastructure nearby. Since 2021, Puma has made 4 significant gold discoveries at Williams Brook, with gold mineralization hosted in quartz veins at surface. An aggressive exploration program is planned for 2023, including a minimum of 6,000 m of drilling and a 4,000 T bulk sample.
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
Grab samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick, where each sample was dried, 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 for every batch of surface samples. 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.
AveragePenny
2 years ago
$PUMXF Puma Exploration Outlines Its Accomplishments and 2023 Exploration Plans at the Williams Brook Gold Project
https://www.globenewswire.com/news-release/2023/02/09/2604906/0/en/Puma-Exploration-Outlines-Its-Accomplishments-and-2023-Exploration-Plans-at-the-Williams-Brook-Gold-Project.html
RIMOUSKI, Quebec, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to outline its key accomplishments and discoveries made at its Williams Brook Gold Project in 2022 and present its 2023 Exploration Program.
Marcel Robillard, President and CEO of Puma, stated: “In only 2 years, we have identified 4 separate high-grade gold zones at surface with significant room for expansion in one of the best jurisdictions in Canada. We’ve grown Puma’s market cap from C$5M to C$30M with only C$7M of exploration investment. Our tried and true exploration methodology has shown that the mineralization at the Lynx Gold Zone extends 750 m along trend and to a depth of about 100 m, and is open both laterally and at depth. Our 2022 discoveries, the Jaguar, Cougar and Panthera Gold Zones likely represent additional gold areas on our large land package. The potential of the Williams Brook property is significant and we will continue to add gold discoveries to its inventory as we work towards defining a resource at Lynx.”
PUMA’S KEY ACCOMPLISHMENTS
Proved, through drilling, the continuity of high-grade gold mineralization at the Lynx Gold Zone over a length of 750 m along strike, a width of 75 m and a depth of 100 m (remains open for expansion).
Identified a series of high-grade gold shoots that plunge 25° to the northeast.
Conducted a preliminary metallurgical test on samples drilled in 2021 that returned 92% gold recovery by gravity alone and up to 99.7% by floatation with minimal cyanidation.
Initiated an advanced metallurgical test on twelve (12) quartz veins located at surface totalling 3,000 kg of material.
Excavated 112 trenches spanning 17.1 km and collected 2,629 grab samples.
Completed 2 distinct soil surveys (over 8 km2) and collected 2,686 soil samples.
Discovered three (3) other gold zones kilometres away from Lynx confirming the potential for a gold camp at Williams Brook (Figure 1).
Secured 100% ownership of more than 49,000 ha of prospective land in northern New Brunswick.
Successfully fundraised and developed a loyal shareholder base with key institutional investors.
Established partnerships with industry specialists to optimize exploration and development.
Developed a low-cost exploration model – with only C$7M invested on site to date.
Figure 1. Main Gold Zones on the Williams Brook Property is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e0ef8f95-000d-4d34-8e17-8135a9493d0c
2023 DEVELOPMENT PLAN – CONTINUED GROWTH
LYNX GOLD ZONE (“LGZ”)
High-Grade Zone Extension
1) 3,000 m of exploratory drilling down to approximately 200 metres will confirm at depth the higher-grade mineralized intercepts identified in 2023 (Figure 2). This initial winter drilling program is scheduled to begin shortly and is designed to identify the best gold zones to drill at depth for a follow-up summer/fall drilling program.
Figure 2. Lynx Gold Zone high-grade gold mineralization interpolation is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1386577a-cffb-48a4-a3b2-d8aea649d562
2) 3,000 m of step-out drilling will focus on the expansion of the LGZ to the northeast along a 3 km corridor (Figure 3). Grab samples collected during the 2022 exploration program (see results below) confirmed the NE extension of the favourable contact and identified drilling targets for the upcoming program.
Figure 3. Lynx Gold Zone 2023 step-out drilling plan is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1913d0d5-ce55-4187-a655-a317edb1bbd1
Bulk Sample – characterizing the Lynx Gold Zone
Mineralization at the Lynx Gold Zone occurs as higher-grade gold veins of varying width within a lower-grade envelope. In consultation with industry experts, Puma has elected to conduct a bulk sample at the LGZ in 2023. The test will provide the average grade of the mineralization and the flow sheet for gold recovery in preparation for a resource estimation. The application for a 4,000 Tonnes bulk sample has already been submitted.
OTHER GOLD DISCOVERIES
Following the drilling success at Lynx, Puma will apply its successful low-cost discovery model to other parts of the property. Expanded surface work will be conducted at the Jaguar (“JGZ”), Cougar (“CGZ”) and Panthera (“PGZ”) Gold Zones to identify future drilling targets. Grab samples collected from the last trenching program at Jaguar and Cougar confirm the gold potential of the areas (Figure 4). A petrographic study is currently in progress to assess the similarity between gold mineralization at the JGZ and LGZ.
Figure 4. Jaguar and Cougar Gold Zones compilation map is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5059e914-1ed0-47bc-b5d3-d49d72840ad1
NEW OPPORTUNITIES
Puma Exploration continues to seek new opportunities in New Brunswick and is committed to being a leader in mineral exploration in the province. Though its DEAR strategy (Development, Exploration, Acquisition and Royalties), Puma is focused on generating maximum value for shareholders with low share dilution.
Thugmuffin
2 years ago
$PUXPF Puma Exploration Discovers Several New High-grade Gold Zones at Williams Brook, Including 51.73 G/t Gold Over 1.85 MPress Release | 06/08/2022
RIMOUSKI, Quebec, June 08, 2022 (GLOBE NEWSWIRE) -- 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 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 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 EXPLORATION
Puma 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.
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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.
doinit
9 years ago
Message body
Puma plans trenching, stripping at Rocky Brook
2015-11-16 05:45 PT - News Release
Mr. Marcel Robillard reports
PUMA EXPLORES THE HIGH GRADE ZONES OF THE ROCKY BROOK AG-AU-PB-ZN PROJECT
Puma Exploration Inc. is actively defining and exploring its mineralized polymetallic lenses along the 15-kilometre Rocky Brook project in New Brunswick, focusing mainly on the highest grade silver and gold portions.
Puma's geologists have compiled and selected the highest potential within each of the main six lenses along this trend showing the highest silver and gold grades in order to evaluate and expand on their size. These mineralized lenses, namely Hache, Shaft, Henry, Henry East, Half Mile and Pine Tree, are spread over a distance of six kilometres and have received very little advanced exploration work to date. Three-dimensional modelling focusing on the high-grade portions of each lens containing at least 300 grams per tonne (g/t) Ag (10 ounces per ton) is currently under way. Surface trenching and stripping programs will be conducted in the vicinity of these zones in order to increase their size and extent.
Hache lens
The Hache lens has received the most focus to date including a total of 87 drill holes, which represents about 50 per cent of the project's drilling (172 drill holes), which was directed to the exploration and definition of the central part of the Hache zone. In 2008, a compliant NI 43-101 resource estimate outlined an indicated mineral resource of 1.11 million ounces of silver within the first 100 metres from surface over an area of only 100 by 50 metres (see news release on Feb. 27, 2008, filed on SEDAR). These resources include some sections of high very high-grade silver content which are currently being modelled in order to showcase the shape and size of the silver enrichment. Follow-up will include with exploration along strike within 25 metres of surface. Since the 2008 resource estimate, 84 additional drill holes were completed from the Hache to the Shaft zones over a strike length of 700 metres.
Geology
The 15 km long by two km wide Rocky Brook corridor is a major mineralized structure which contains the main silver-gold-lead-zinc lenses centred on the Rocky-Brook-Millstream fault which is interpreted to have played a major role in the enrichment of the mineralized lenses. This fault can be followed over a strike length of more than six kilometres. The intersection of this major structure with minor transverse norhtwest-southeast faults is the primary exploration target for the richest silver-gold-lead-zinc deposits as defined by Puma geologists.
The main lenses are composed of massive to disseminated sulphides enclosed within a highly altered rock close to the contact within the Rocky-Brook-Millstream fault. The lenses are subvertical and range in thickness from one to 25 metres.
Fieldwork
The most effective way to explore the area is through trenching. The area is covered by thin overburden, usually less than one metre thick and mineralization outcrops on surface. These features facilitate the access to new data and information that could lead to new discoveries at minimum cost compared with a drilling program. More than 15 kilometres of trenches have been done since 2011 on the Rocky Brook Corridor and have led to the many successful drilling programs as shown in the attached table.
SELECTED DRILL HOLES INTERCEPTS WITHIN THE ROCKY-BROOK CORRIDOR
Rocky Brook Drill hole From To Length Ag Au Pb Zn
RBM fault corridor No. m m m g/t g/t % %
Hache lens F07-15 70.9 79.3 8.3 720 3.8 3.5 5.3
87 drill holes F07-16 46.0 49.0 3.0 679 1.8 8.3 5.1
F07-31 26.1 30.7 4.6 503 2.1 2.2 3.0
F07-32 27.2 32.5 5.3 540 1.0 2.7 3.3
F08-36 158.0 161.3 3.3 373 3.2 1.0 1.1
FH12-04 72.9 79.2 6.4 446 1.5 2.2 5.8
Shaft lens F06-01 40.0 52.7 12.7 257 1.1 1.1 2.4
51 drill holes F07-10 73.2 78.8 5.6 138 0.9 5.3 1.7
F08-41 199.0 203.0 4.0 133 0.2 3.4 2.1
F08-56 182.0 187.2 5.2 235 1.3 0.7 1.2
F08-68 85.1 88.3 3.2 278 0.8 7.8 8.0
Henry-East lens FH12-04 11.5 20.6 9.1 92 1.1 0.8 0.7
13 drill holes FH12-05 36.6 41.0 4.4 454 2.3 3.0 3.7
FH12-06 12.2 13.3 1.1 194 1.6 4.1 3.0
FH12-09 11.2 15.8 4.6 81 1.0 0.9 0.9
FH12-10 31.2 34.2 3.0 187 2.3 1.5 1.5
Henry lens F06-11 35.0 37.0 2.0 217 1.6 2.8 1.6
Three drill holes F06-12 48.5 52.0 3.5 183 0.9 3.6 2.1
Lentille Half Mile
lens F05-12 69.5 70.0 0.5 82 0.1 2.7 2.8
Four drill holes F05-13 78.8 80.7 1.9 92 0.1 3.4 2.0
Pine Tree lens F05-06 46.0 48.5 2.5 116 0.7 3.3 3.4
14 drill holes F05-07 11.4 15.6 4.2 91 1.9 3.5 4.2
F05-08 35.8 38.8 3.0 107 0.4 4.6 5.1
F05-16 143.7 146.1 2.4 111 0.8 5.8 4.7
PT09-03 65.3 72.9 7.7 81 1.7 3.0 2.0
"The Rocky Brook project has always been one of the more exciting assets for Puma. Since 2011, we have constantly conducted fieldwork to increase the knowledge of the mineralized systems. With the current work, we will be able to better evaluate the potential size of the very high-grade silver portion within each lens at a relatively low cost," noted Marcel Robillard, Puma Exploration's president.
About Rocky Brook
Rocky Brook is located in mining-friendly New Brunswick, near sea level in the established Bathurst mining camp which welcomes employment opportunities. The property is located 15 km from the city of Bathurst and 20 km from a deepwater Atlantic port and the nearby Glencore smelter at Belledune. Access is excellent with a commercial airport near Bathurst, a nearby railway and with paved roads running through the property. The project consists of a 15 km long by 1.5 km wide Rocky Brook mineralized corridor adjacent and spatially related with the large four km diameter Beresford copper porphyry intrusion.
The contents of this press release were prepared by Dominique Gagne, a qualified person as defined in NI 43-101. The samples were analyzed at the ALS Chemex laboratory in Val d'Or using the atomic absorption and ICP methods. There is not enough drilling data presently available to determine the shape and true width of the mineralized zone.
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