Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the “Company” or
“Puma”) is pleased to outline the ongoing progress of its 2023
exploration program at its 100%-owned Williams Brook Gold Project
in Northern New Brunswick, Atlantic Canada. The program has
successfully shown that gold mineralization extends to 150 m
vertical depth at the Lynx Gold Zone (“LGZ”) following Phase 1
drilling (see August 23, 2023, News Release). With assay results
pending, the Company is now focused on demonstrating the continuity
of gold mineralization along the 4 km extension of the Lynx Gold
Trend (“LGT”) to increase the total gold inventory of the 44,000-ha
land package.
2023 Program Highlights to Date
- An expanded Phase 1 2023 drilling
program was completed with 3,475 metres (24 drill holes);
- A new gold showing, the Tiger Gold
Zone, was discovered 350 m from the LGZ along the Lynx Gold Trend
(“LGT”);
- 24 new trenches were dug on the
Williams Brook property;
- An inaugural surface exploration
program was launched at the Jonpol property;
- Terrane Geosciences flew a detailed
aerial drone survey (1.4km x 0.6km);
- The metallurgical study launched
last Fall is progressing.
- Tree cutting was initiated along
the LGT to facilitate trenching and stripping along its 4 km
extension in preparation for the upcoming phase 2 drilling
program.
Puma’s president and CEO, Marcel Robillard,
commented, “Our 2023 exploration program has surpassed all
expectations. As we await results from our Phase 1 drilling at
Lynx, we are excited to test the extension of the Lynx Gold Trend
along the 4 km extension we identified last year. In preparation
for our drilling program, we completed additional trenching and
sampling to better target drilling and maximize returns. We are
encouraged by the robustness of our discovery model and feel that
our methodology will again produce results.”
The 2023 Exploration
Program
Puma is focused on building a gold camp in
Northern New Brunswick. Since 2021, the Company made four (4)
significant gold discoveries at the Williams Brook Gold Project –
the Lynx (”LGZ”), Jaguar (“JGZ”), Cougar (“CGZ”) and Panthera
(“PGZ”) Gold Zones. The Company’s current focus, the LGZ, has major
expansion potential, as evidenced by the recent drilling campaign
and the numerous gold occurrences identified along its 4 km strike
extension.Surface exploration work this summer, along the Lynx Gold
Trend, expanded a gold showing identified last year: the newly
named Tiger Gold Zone (“TGZ”), located 350 m away from the LGZ, has
now been traced over 100 m (Figure 1). Like the LGZ, the gold
mineralization at the TGZ occurs in quartz veins, showing limonite
alteration at the contact between the rhyolite and sediment. The
Tiger Gold Zone is undergoing surface exploration work in
preparation for an inaugural drilling program later this year
(Figure 2).
Figure 1. Location of the Tiger Gold
Zone along the Lynx Gold Trend
Figure 2. Drilling target for potential
lateral extension
Initial surface sampling results at the Jaguar,
Cougar and Panthera Gold Zones reported last year were impressive
(see Oct.20, 2022, Nov. 2, 2022, and Jan.19, 2023, News Releases).
Following Puma’s proven discovery method, the Company launched its
next development phase to include an expanded stripping and
trenching program on the gold occurrences discovered in 2022. This
program is identifying drilling targets for the zones' upcoming
inaugural drilling program. Puma believes that the CGZ, JGZ and PGZ
could substantially increase the gold inventory at Williams Brook
(Figure 3).
With its objective to build a gold camp at the
Williams Brook Gold Project, Puma also used Windfall Geotek’s
(TSX.V: WIN) with their AI System (Artificial intelligence “AI”
technology) to identify and prioritize targets on other areas of
the Williams Brook property and the other properties of the project
package. CARDS identified several areas of interest close to the
Lynx and Jaguar Gold zones that will be mapped, prospected and soil
sampled to identify prospective areas for future development (see
white area outlined on Figure 3).
Figure 3. Focus areas to increase gold
inventory at Williams Brook Gold
Table 1. Highlights of recent sampling
at Williams Brook (WB) *
Sample # |
Property |
Work Type |
East X |
North Y |
Rock Name |
Au grade (g/t) |
G237029 |
WB |
Trench |
660343 |
5259477 |
Quartz vein |
288.00 |
G237027 |
WB |
Trench |
660341 |
5259474 |
Quartz vein |
35.20 |
G239616 |
WB |
Trench |
660424 |
5259545 |
Quartz vein |
26.00 |
G236936 |
WB |
Trench |
660238 |
5259246 |
Quartz vein |
13.20 |
G236937 |
WB |
Trench |
660237 |
5259247 |
Quartz vein |
12.45 |
G238377 |
WB |
Trench |
660872 |
5259928 |
Quartz vein |
4.58 |
G236939 |
WB |
Trench |
660235 |
5259245 |
Quartz vein |
3.98 |
G236941 |
WB |
Trench |
660239 |
5259246 |
Quartz vein |
3.58 |
G236962 |
WB |
Trench |
660426 |
5259553 |
Quartz vein |
3.46 |
G239606 |
WB |
Trench |
660426 |
5259549 |
Quartz vein |
3.13 |
G237030 |
WB |
Trench |
660343 |
5259478 |
Quartz vein |
2.78 |
G239605 |
WB |
Trench |
660426 |
5259551 |
Quartz vein |
2.64 |
G236990 |
WB |
Trench |
660393 |
5259406 |
Quartz vein |
2.53 |
G239629 |
WB |
Trench |
660388 |
5259401 |
Quartz vein |
1.94 |
G236959 |
WB |
Trench |
660428 |
5259552 |
Quartz vein |
1.72 |
G239787 |
WB |
Trench |
660465 |
5259531 |
Quartz vein |
1.72 |
G236909 |
WB |
Trench |
660252 |
5259166 |
Quartz vein |
1.59 |
G239609 |
WB |
Trench |
660425 |
5259548 |
Quartz vein |
1.49 |
G236935 |
WB |
Trench |
660237 |
5259251 |
Rhyolite |
1.37 |
G236931 |
WB |
Trench |
660243 |
5259248 |
Rhyolite |
1.15 |
G236940 |
WB |
Trench |
660239 |
5259245 |
Quartz vein |
1.08 |
*The reader is cautioned that grab samples are
selective by nature and may not represent the true metal content of
the mineralized zone.
Termination of Option Agreement
Puma entered a property agreement to acquire the
Brunswick Au-Ag Property (454 claims for 10,554 ha) near the
historic Brunswick 12 mine last winter (see February 16, 2023, News
Release). After completing its due diligence, including data
compilation and an initial surface exploration work, the Company
has elected not to pursue further work on the property and
terminate the option agreement.
Upcoming Gold Investor Events
Puma invites shareholders and interested parties to schedule a
meeting at the upcoming conferences to discuss the Company's recent
news and proposed developments. Click on the links to register.
- 121 Mining Investment New YorkOctober 23-24,
2023
- Explor 2023, Montreal, QCOct 30 – Nov. 2,
2023Marcel Robillard will present on Nov. 1 at 3:40 p.m. Click here
for details.
- EMP New Brunswick, Fredericton, NBOct. 29 -31,
2023Marcel Robillard will present on Oct. 30 at 3:30 p.m.
- 121 Mining Investment London, UKNovember
20-21, 2023
About the Williams Brook Gold Project
Puma's flagship Williams Brook Gold Project
comprises six (6) claims blocks covering more than 44,650 ha in
Northern New Brunswick, an established and mining-friendly
jurisdiction near paved roads and with excellent infrastructure
nearby. The land package is located near 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.
Since 2021, and with less than $10M of
exploration investment, Puma has made multiple gold discoveries at
the Williams Brook property and believes that the property hosts a
large orogenic/epithermal gold. Puma’s ongoing exploration programs
are focused on building a gold camp in Northern New Brunswick.
Figure 4. Main gold showings and occurrences at the
Williams Brook Gold Project
Qualified Person
The technical information of this release was
reviewed and approved by Dominique Gagne, PGeo, a consultant of
Puma and a qualified person as defined by the National Instrument
43-101 - Standards of Disclosure for Mineral Projects.
On-Site Quality Assurance/Quality Control (“QA/QC”)
Measures
Drill core and surface 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 Exploration
Puma Exploration is a Canadian-based mineral
exploration company with precious metals projects in New Brunswick,
near Canada's Famous Bathurst Mining Camp ("BMC"). Puma has a long
history in Northern New Brunswick, having worked on regional
projects for over 15 years. As a first mover, the Company quickly
and strategically accumulated an impressive 44,650 ha of
prospective gold landholdings in the area. Puma’s successful
exploration methodology combines old prospecting methods with
detailed trenching and up-to-date technology, such as Artificial
Intelligence (“AI”), to facilitate an understanding of the geology
and associated mineralized systems. Armed with geophysical surveys,
geochemical data and consultants’ expertise, Puma has developed a
perfect low-cost exploration tool to discover gold at shallow
depths and maximize drilling results.
The Company is also committed to deploying its
DEAR strategy (Development,
Exploration, Acquisition, and
Royalties) to generate maximum value for
shareholders with low share dilution.
Connect with us on Facebook / Twitter /
LinkedIn.
Visit www.explorationpuma.com for more
information or contact:
Marcel Robillard, President and
CEO, (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) 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 several known and unknown risks, uncertainties,
and other factors that 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. The quarterly and annual reports and
the documents submitted to the securities administration describe
these risks and uncertainties.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/667cc779-859d-4bc5-85c6-390dbaefd3bc
https://www.globenewswire.com/NewsRoom/AttachmentNg/9ef3a60c-8eba-419c-a0bc-2d1625648183
https://www.globenewswire.com/NewsRoom/AttachmentNg/2556a698-3bea-4137-8ad7-a99d9e33ab14
https://www.globenewswire.com/NewsRoom/AttachmentNg/9d313935-44e0-4419-a64f-89e74199aa06
Puma Exploration (TSXV:PUMA)
Historical Stock Chart
Von Apr 2024 bis Mai 2024
Puma Exploration (TSXV:PUMA)
Historical Stock Chart
Von Mai 2023 bis Mai 2024