Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is
proud to announce that its first drilling program conducted at the
Williams Brook Gold Property has been successfully completed with
the discovery of significant mineralization and pervasive
alteration in all drill holes. The Williams Brook Gold Property is
located in New Brunswick within the emerging new gold district of
Atlantic, Canada (see Figure 1).
Figure 1: Location of the Inaugural
Drilling Program at the Williams Brook Gold Property
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Inaugural Drilling Program at Williams
Brook Gold PropertyAs planned, a total of 18 holes were
completed for 2,360 meters. These holes were drilled to intersect
the down-dip projection of significant high-grade gold vein
networks exposed at surface in trenches and in stripped areas at
the Lynx Gold Zone that were excavated last year and earlier this
year (see Figure 2). The drilling program was also designed to
better understand the spatial geometry of the mineralized envelope
and discover any new potential high-grade zones extending at depth.
The oriented core drilling program was planned with the support of
Terrane Geoscience Inc. who completed, earlier this summer, a study
of the alteration pattern and structural analysis of the main vein
networks.
Figure 2: Arial Drone View of the
Stripped Area from Chubby (left) to Lynx (right) Gold
Zones
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The Lynx Gold Zone is part of the 700 meters
O’Neil Gold Trend (OGT) which is open at both ends and shows a
distinct 7 kilometers long magnetic signature highlighted by the
2021 detailled VTEM airborne survey (see Figure 3).
Figure 3: Geological Mapping of the
O’Neil Gold Trend (OGT)
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Core ObservationsEvery hole
shows consistent mineralization and pervasive alteration over core
length varying between 10 m to 75 m in each hole
starting at surface. The main features observed included: abundant
quartz veins and large network of quartz veinlets showing pervasive
sericite and iron alteration. Disseminated sulphides and oxides
(galena, chalocopyrite, pyrite, sphalerite, stibinite, bornite,
covellite, tetrahedrite, and malachite) are also present within the
strong alterated intervals and within quartz veins. Visible Gold
(VG) was observed in several holes (see Figure 4a and 4b). The
veins are granulars, drusics and sometimes massive within the
altered porphyric rhyolite in contact with the sediments. The
sediments are composed of altered siltstone interbed with mudstone.
All these elements are very representative of a significant
low sulphidation epithermal model.
Figure 4a: Typical Alteration and
Mineralization Observed in the Core
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Figure 4b: Typical Alteration and
Mineralization Observed in the Core
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Marcel Robillard, President and CEO of Puma
Exploration commented : "Understanding the control of the gold
mineralization at the Lynx Gold Zone is very important to identify
any potential ore shoot present over the entire O’Neil Gold Trend
(OGT) that will be drilled within the next phase of drilling
increased from 2,000 meters to 10,000 meters. The technical team
has been working on this project for only one (1) year with major
discoveries made at surface, proving the potential for a new
emerging gold camp in an area mainly identified previously as a
Base Metals Camp.” “This project possesses all significant elements
to derisk the exploration and development because of its location
in a mining friendly jurisdiction near an important national paved
road, and finally with mineralization located at surface," added
Marcel Robillard.
Drilling ended August 20th, 2021, with 18 holes
totaling 2,360 meters being completed. The average depth per hole
ranged between 58 to 242 meters. Final core logging and sampling is
in progress with the samples of the first nine (9) holes sent to
the laboratory for assaying. Once received, assay results will be
compiled, interpreted and then released on a timely basis.
Current workThe technical team
is on site to proceed with trenching and stripping operations to
locate the favorable contact between the altered rhyolite and the
sediments along the entire O’Neil Gold trend. A large grab sampling
program with detailled mapping of the favourable contact is in
progress. Moreover, a permanent crew with one excavator moves
forward with exploration trenches in the entire area.
O’NEIL GOLD TREND
(OGT)The O’Neil Gold Trend (OGT) is a
pervasive altered and brecciated rhyolite unit hosting significant
gold showings and occurences followed by trenching over a strike
length of 700 meters. The geophysical signature of
the OGT is expressed over 7km. The favourable unit (rhyolite) is
similar and parallel to the structures hosting the “Williams 1” and
“Williams 2” Gold Zones with selected drill results of 11.2
g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over
23m.
These trends are interpreted to be related to a
major rifting in the New Brunswick Geological events and could
represent a low sulphidation epithermal gold system. Along the OGT,
the width of the altered horizon varies from 5 to 250 meters with
an average apparent thickness of 150 meters.
Numerous quartz veins, quartz veinlets,
stockworks and breccias were observed mostly perpendicular to the
major trend and contain the gold mineralization. The OGT has never
been drilled and many gold zones were discovered during the summer
2020 exploration campaign.
High-Grade Selected Grab Samples Assays
on the Prolific O’Neil Gold Trend (OGT)*:
O’Neil Gold
Zone (VG**): |
128.5
g/t Au, 44.4 g/t Au, 38.8 g/t Au, 32.8 g/t Au, 23.1 g/t
Au |
Pepitos Gold Zone (VG**): |
52.1 g/t Au, 16.1 g/t Au, 15.0 g/t Au, 13.1 g/t Au,
4.87 g/t Au |
Lynx Gold Zone (VG**): |
241.0 g/t Au, 79.8 g/t Au, 74.2 g/t Au, 63.5 g/t Au,
58.4 g/t Au |
Chubby Zone Area: |
3.5 g/t Au, 1.2 g/t Au, 1.2 g/t Au, 0.45 g/t
Au |
Moose Gold Zone: |
2.4 g/t Au, 2.1 g/t Au, 1.3 g/t Au, 1.1 g/t
Au |
* Selected rock grab samples are selective by
nature and may not represent the true grade or style ** VG: Visible
Gold
QUALIFIED PERSONSDominique
Gagné, PGeo, independent qualified person as defined by Canadian
National Instrument 43-101 standards, has reviewed and approved the
geological information reported in this news release. 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.
Gagné is independent of the Company.
QUALITY ASSURANCE/QUALITY CONTROL
(QA/QC)Rock samples were bagged, sealed and sent to the
facility of ALS CHEMEX in Moncton, New Brunswick where each sample
is dried, crushed, and pulped. The samples were crushed to 70% less
than 2mm, riffle split off 1kg, pulverise split to better than 85%
passing 75 microns (Prep-31B). A 30-gram subsplit from the
resulting pulp was then subjected to a fire assay (Au-ICP21). Other
screen sizes available. Duplicate 50g assay on screen undersize.
Assay of entire oversize fraction.
ABOUT PUMA EXPLORATIONPuma
Exploration is a Canadian-based mineral exploration company with
precious and base metals projects in early to advanced stages
located in the Famous Bathurst Mining Camp (BMC) in New Brunswick,
Canada. 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 with low shares dilution.
You can visit us on Facebook / Twitter /
LinkedInLearn more by consulting www.explorationpuma.com for
further information on Puma.Marcel Robillard, President, (418)
750-8510; president@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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