Puma Discovers 0.41% CuEq(i) Over 200 Meters Within 486 Meters of 0.23% CuEq at Nicholas-Denys Porphyry System in New Brunswick
21 Mai 2014 - 4:46PM
Marketwired
Puma Discovers 0.41% CuEq(i) Over 200 Meters Within 486 Meters of
0.23% CuEq at Nicholas-Denys Porphyry System in New Brunswick
RIMOUSKI, QUEBEC--(Marketwired - May 21, 2014) - Puma
Exploration (TSX-VENTURE:PUM) announces the results of the first
three (3) holes of the 2014 drilling program on its
100-per-cent-owned Nicholas-Denys ("ND") porphyry system in New
Brunswick. Drillhole FND14-02 intersected 0.41% CuEq over 200
meters at the northern edge of the intrusive.
Highlights include:
- Continuous molybdenum, copper and silver mineralization over
486.4 meters grading 0.23% CuEq in FND14-02;
- A 200 meter intersect of 0.41% CuEq within the above
intersection, including 43 meters of 0.71% CuEq;
- First discovery of high grade zones within the main 4 km
diameter porphyry with more than 1% CuEq;
- Significant silver grade associated with the main mineralized
zone with 1.04 g/t Ag over 486.4m;
- Pervasive breccia and stockwork mineralization typically
associated with large porphyry systems;
- 800 meter southerly step-out hole (FND14-03) contains
continuous moly, copper and silver mineralization over 253 meters
grading 0.18% CuEq, including a higher zone with 0.30% CuEq over
26.8 meters;
- Ten (10) first priority IP targets remain to be drilled. The
integrity of the targets are confirmed by Holes FND14-02 and
FND14-03 which encountered significant sulphide
mineralization.
Holes FND14-01 and FND14-02 are located on the northwestern
boundary of the 4km diameter ND granodiorite intrusion at the
terminus of a NW-SE trending 1km wide by 5 km long fairway defined
by drillholes, mineralized trenches and prominent Induced
Polarization ("IP") and magnetic anomalies. The mineralized
Beresford copper-iron skarn zone occurs at the opposite,
southeastern terminus of the fairway.
Hole FND14-02 intersected two distinct higher grade molybdenum,
copper and silver zones within the first 500 meters of the hole
with an overall grade of 0.23% CuEq over 486.4 meters, including
200 meters grading 0.41% CuEq between 43 and 243 meters
down-hole.
The first zone represents a highly altered and fractured
granodiorite with pervasive moly, copper and silver disseminated
and stockwork mineralization from 43 meters to 243 meters (200
meters) grading 0.41% CuEq. Within this interval, two (2) high
grade zones with more than 1% CuEq were intersected with
respectively 1.31% CuEq over 8.4 meters and 1.07% CuEq over 12.4
meters. This zone is open in all directions.
The second zone corresponds to the contact of the granodiorite
with the surrounding hornfels at a vertical depth of 325 meters and
grading 0.41% CuEq over 26.4 meters which includes a richer zone of
0.85% CuEq over 6.0 meters. The mineralization found at the contact
between the granodiorite and the hornfels is interpreted to be
continuous from surface and along strike as indicated in hole
F07-09 drilled in 2007 which intersected 0.47% CuEq over 23.5
meters.
Hole FND14-03 was drilled 800 meters south of hole FND14-02
along the mineralized fairway and was designed to test another IP
target. The hole encountered molybdenum, copper and silver
mineralization over its entire length grading 0.18% CuEq over 253
meters including 14.4 meters grading 0.42% CuEq.
Table 1: Selected results from the 2014 drilling program at
Nicholas-Denys
|
|
|
|
|
|
|
|
|
|
|
|
Hole |
Dir |
Dip |
From |
|
To |
Width |
Ag |
Cu |
Mo |
|
%CuEq |
# |
(Degrees) |
(Degrees) |
m |
|
m |
m |
g/t |
ppm |
ppm |
|
Ag+Cu+Mo |
FND14-01 |
N025 |
-45 |
11.0 |
|
85.2 |
74.2 |
0.15 |
174 |
155 |
|
0.10 |
FND14-01 |
|
|
12.1 |
|
32.2 |
20.1 |
0.40 |
275 |
301 |
|
0.20 |
FND14-01 |
|
|
27.4 |
|
32.2 |
4.8 |
0.30 |
343 |
525 |
|
0.32 |
FND14-02 |
N290 |
-45 |
12.0 |
|
498.4 |
486.4 |
1.04 |
225 |
359 |
|
0.23 |
FND14-02 |
|
|
12.0 |
|
375.3 |
363.3 |
1.18 |
264 |
420 |
|
0.27 |
FND14-02 |
|
|
42.0 |
|
350.2 |
308.2 |
1.37 |
276 |
478 |
|
0.30 |
FND14-02 |
|
|
43.2 |
|
243.9 |
200.7 |
1.87 |
324 |
654 |
|
0.41 |
FND14-02 |
|
|
98.1 |
|
215.1 |
117.0 |
2.60 |
354 |
800 |
|
0.50 |
FND14-02 |
|
|
155.4 |
|
212.7 |
57.3 |
3.58 |
344 |
957 |
|
0.60 |
FND14-02 |
|
|
178.7 |
|
212.7 |
34.0 |
3.69 |
366 |
1150 |
|
0.71 |
FND14-02 |
|
|
194.3 |
|
215.1 |
20.8 |
4.71 |
354 |
1402 |
|
0.86 |
|
|
|
|
|
|
|
|
|
|
|
|
FND14-02 |
|
|
110.1 |
|
118.5 |
8.4 |
7.11 |
561 |
2147 |
|
1.31 |
FND14-02 |
|
|
202.7 |
|
215.1 |
12.4 |
4.88 |
387 |
1790 |
|
1.07 |
FND14-02 |
|
|
100.5 |
|
118.5 |
18.0 |
3.91 |
454 |
1397 |
|
0.85 |
|
|
|
|
|
|
|
|
|
|
|
|
FND14-02 |
|
|
467.2 |
|
498.4 |
31.2 |
1.36 |
206 |
613 |
|
0.37 |
FND14-02 |
|
|
468.4 |
|
494.8 |
26.4 |
1.44 |
220 |
689 |
|
0.41 |
FND14-02 |
|
|
479.1 |
|
481.7 |
2.6 |
12.35 |
810 |
2794 |
|
1.75 |
FND14-03 |
N225 |
-45 |
37.4 |
|
290.4 |
253.0 |
0.34 |
335 |
256 |
|
0.18 |
FND14-03 |
|
|
173.2 |
|
290.4 |
117.2 |
0.17 |
283 |
333 |
|
0.21 |
FND14-03 |
|
|
206.8 |
|
290.4 |
83.6 |
0.17 |
287 |
395 |
|
0.25 |
FND14-03 |
|
|
263.6 |
|
290.4 |
26.8 |
0.12 |
282 |
487 |
|
0.30 |
FND14-03 |
|
|
276.0 |
|
290.4 |
14.4 |
0.13 |
288 |
707 |
|
0.42 |
FND14-03 |
|
|
277.8 |
|
283.0 |
5.2 |
0.26 |
322 |
1076 |
|
0.62 |
*CuEq (copper-equivalent) has been used to express the combined
value of copper, molybdenum and silver as a percentage of copper,
and is provided for illustrative purposes only. No allowances have
been made for recovery losses that may occur should mining
eventually result. Calculations use metal prices of $2.75/lbs
copper, $22/oz silver and $15/lbs molybdenum using the formula
CuEq% = Cu% + (Ag g/t X 0.0116) + (Mo% X 5.45).
Marcel Robillard, President of Puma Exploration stated: "We are
delighted with the results of the initial phase of the 2014
drilling program. We consider these results to be impressive. We
assess our progress by comparing our intercept and grade results
with the geometry and grade parameters of all known global porphyry
systems as set out in the comprehensive US Geological Survey
statistical analysis of 422 porphyry systems referenced below**.
Hole FND14-02 with its 486 meters of 0.23% CuEq places us at the
25th percentile of all 422 deposits and the 200 meters of 0.41%
CuEq places the intercept just short of the average grade of 0.44%
Cu and somewhat below the 50th percentile value of 0.50% for all
surveyed deposits."
''Our work over the past three years has consistently confirmed
the existence of three very large adjoining and related mineral
systems named as Porphyry system which includes the granodiorite
intrusive, the skarn horizon and the gold-silver-lead-zinc belt.
Now the discovery of high grade moly and copper in the porphyry is
a major step in the ND property development".
About Nicholas-Denys
Nicholas-Denys 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 kms from the
city of Bathurst and 20 kms from a deep-water Atlantic port and the
nearby Glencore Xstrata smelter at Belledune. It is also located 10
kms south of Puma's Turgeon copper-zinc VMS exploration project.
Access is excellent with a commercial airport near Bathurst, a
nearby railroad and with paved roads running through the property.
The project consists of three genetically and spatially related
plays: the large 4 km diameter ND porphyry intrusion, the adjacent
10 km long Main Fault zone including the skarn horizon and, about 1
km to the southeast, the parallel 10 km long Rocky Brook
mineralized Ag-Pb-Zn fault corridor.
About Puma Exploration
Puma Exploration is a Canadian mineral exploration company with
advanced precious and base metals projects in Canada. The Company's
major assets are the Nicholas-Denys Project and Turgeon Copper
Project in New Brunswick and the Little Stull Lake Gold Project in
Manitoba. Puma is focusing now its exploration efforts in New
Brunswick, Canada.
Learn more by clicking here: www.pumaexploration.com
**Porphyry Copper Deposits of the World: Database and Grade and
Tonnage Models, 2008, United States Geological Survey Open-File
Report 2008-1155, 2008.
The contents of this press release were prepared by Dominique
Gagné 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. Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts 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 Exploration Inc. 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 Exploration 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.
Marcel Robillard. PresidentPuma Exploration(418) 724-0901Toll
free: (800) 321-8564president@explorationpuma.com
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