Puma Adds More Claims at Chester VMS Deposit
14 November 2019 - 7:48AM
Puma Exploration Inc. (
the “Company” or “Puma”) is
pleased to announce that following the initial data compilation and
preliminary field reconnaissance, the Company has added 139
additional claims units for a total of 3,054 additional hectares
surrounding the original Chester property boundary. The Chester
property has almost doubled in size and is now composed of 303
claims covering a total of 6,654 hectares (66.5 km2) strategically
located approximately 25 kilometers south west of three major VMS
deposits: Halfmile Lake, Stratmat, and Heath Steele.
The additional claims cover adjacent areas with
excellent exploration potential derived from new interpretation of
the local geology, the structural features, the geophysical
signatures, and already defined targets predicted by CARDS
Artificial Intelligence (AI) technology completed by Windfall
Geotek (TSXV-AIIM) for the entire Bathurst Mining Camp in 2013.
Puma has reviewed the CARDS AI evaluation
generated for the Bathurst Camp and has decided to hire Windfall
Geotek to proceed with a more detailed, property scale, evaluation
of the Chester property. The goal is to refine the regionale VMS
signature and to assist us in finding new mineralized areas with
the same geological features of the Chester Deposit.
CHESTER PROPERTY HIGHLIGHTS
- Previous Mining Development included a portal
and ramp (600m) development driven into the copper feeder
(Stringer) zones on two (2) stopes from which 30,000 tonnes
bulk samples grading 2.0% Cu were mined by the Sullivan
Group in the early ’70s.
- Historical Resources estimate on the West Zone
(Copper Stringer) of the Property with of 3,489,000 tonnes
grading 1.30% Cu reported in 2008 and updated in
2014*.
- Robust Metallurgical Test conducted to date
indicates that concentrate grades in the range of 27-28% Cu could
be produced at copper recoveries of 97-98% by
standard flotation circuits.
- Significant Exploration Potential with strong
exploration targets remain uninvestigated and include Cu-Pb-Zn soil
anomalies, gravity and magnetic geophysical anomalies including the
newly CARDS targets.
* Puma has not taken steps to identify what work
needs to be undertaken to upgrade or verify the historical resource
estimate as current mineral resources or mineral reserves. A
qualified person from Puma or independent third party has not done
sufficient work to classify the historical resource estimate as a
current resource estimate or current mineral reserves. Puma is not
treating the historical resource estimate as a current resource
estimate or mineral reserves. There is no certainty that additional
work will replicate the initial results.
ABOUT CHESTER
The Chester property is known to contain a
copper Deposit containing three (3) zones; the Central Zone, the
East Zone, and the West Zone (Copper Stringer) located at the
surface. Only the West Zone has been included in the NI 43-101
resources calculation in 2008 and updated in 2014. The copper
deposit has historical measured & indicated resources of
1,400,000 tonnes grading 1.38% Cu and 3.5 g/t Ag and inferred
resources of 2,089,000 tonnes grading 1.26% Cu (assayed for Cu
only) as reported in the NI 43-101 Technical Report entitled
“Technical Report - Chester Copper Property New Brunswick Canada”
(effective March 07, 2014) prepared by Robert C. Sim, P. Geo., for
Explor Resources and filed on www.sedar.com. Puma is not treating
the “historical resources estimate” as a “current resources
estimate” or “mineral reserves”, as it has not taken steps to
identify what work needs to be done to verify, upgrade or
re-classify the “historical resources estimate” using a qualified
person from Puma or independent third party.
Significant previous drill results at Chester
property
Feeder Zone (Surface to 50m) |
Massive Sulphide Zone (Surface to 50m) |
4.8% Cu over 20.3 meters |
10.8% Zn + 4.5% Pb over 5.6 meters |
3.4% Cu over 25.0 meters |
7.4% Zn + 2.3% Pb over 6.1 meters |
6.0% Cu over 13.1 meters |
8.0% Zn + 3.9% Pb over 7.0 meters |
8.0% Cu over 5.2 meters |
8.5% Zn + 4.0% Pb over 7.9 meters |
4.9% Cu over 14.2 meters |
7.0% Zn + 2.6% Pb over 15.6 meters |
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ABOUT PUMA EXPLORATION
Puma Exploration is a Canadian-based mineral
exploration company with precious and base metals projects in early
to advanced stages. While our priority remains to finalize the
acquisition of the Murray Brook project in New Brunswick, great
efforts will be made by the Company in the coming years to deploy
its DEAR strategy (Development, Exploration, Acquisition and
Royalties) in order to generate maximum value for shareholders.
QUALIFIED PERSONS AND QC/AC
Technical information provided in this news
release was prepared and reviewed by Marcel Robillard, P.Geo.,
qualified person as defined by NI 43-101. 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. Mr.
Robillard is not independent of the Company, as he is President of
Puma Exploration.
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Learn more by consulting www.pumaexploration.com
for further information on Puma.
Marcel Robillard, President(418)
724-0901president@explorationpuma.com
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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