Puma Exploration Identifies More High-Grade Gold Veins With up to 199 G/T* Au From Surface Sampling on Its Williams Brook Gold Property, Atlantic Canada
15 October 2021 - 12:32AM
Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is
pleased to provide additional results, which include very
high-grade gold assays of
199 g/t Au,
192
g/t Au, and
170.5 g/t Au, from the 2021
field exploration surface sampling program on the 100% controlled
Williams Brook Gold Property in New Brunswick, Atlantic Canada.
Table 1. Selected High-Grade Grab
Samples* Collected at Surface Between Lynx and Chubby
Zones
Location |
Sample |
Utm X |
Utm Y |
Lithology |
Type |
Au (g/t) |
Ag (g/t) |
Lynx-Chubby |
C099429 |
660268 |
5259314 |
Quartz Vein |
o/c |
199.00 |
18.60 |
Lynx-Chubby |
C099436 |
660263 |
5259312 |
Quartz Vein |
o/c |
192.00 |
36.20 |
Lynx-Chubby |
D279831 |
660259 |
5259307 |
Quartz Vein |
o/c |
170.50 |
38.20 |
Lynx-Chubby |
C733348 |
660281 |
5259306 |
Quartz Vein |
o/c |
52.10 |
1.88 |
Lynx-Chubby |
D279829 |
660257 |
5259296 |
Quartz Vein |
o/c |
51.40 |
22.90 |
Lynx-Chubby |
C733344 |
660279 |
5259305 |
Quartz Vein |
o/c |
50.40 |
2.75 |
Lynx-Chubby |
D279787 |
660286 |
5259367 |
Quartz Vein |
o/c |
46.80 |
1.40 |
Lynx-Chubby |
C099424 |
660275 |
5259314 |
Quartz Vein |
o/c |
46.00 |
6.29 |
Lynx-Chubby |
C099448 |
660281 |
5259314 |
Quartz Vein |
o/c |
31.60 |
1.71 |
Lynx-Chubby |
D279673 |
660304 |
5259362 |
Quartz Vein |
o/c |
31.00 |
2.74 |
Lynx-Chubby |
C099433 |
660265 |
5259313 |
Quartz Vein |
o/c |
28.60 |
3.42 |
Lynx-Chubby |
C099431 |
660267 |
5259313 |
Quartz Vein |
o/c |
26.30 |
3.43 |
Lynx-Chubby |
D279681 |
660304 |
5259360 |
Quartz Vein |
o/c |
21.30 |
3.35 |
Lynx-Chubby |
C099437 |
660261 |
5259311 |
Quartz Vein |
o/c |
19.50 |
2.13 |
Lynx-Chubby |
D279638 |
660290 |
5259347 |
Rhyolite |
o/c |
18.95 |
1.35 |
Lynx-Chubby |
C099423 |
660276 |
5259314 |
Quartz Vein |
o/c |
12.65 |
5.76 |
Lynx-Chubby |
D279818 |
660265 |
5259276 |
Rhyolite |
o/c |
9.54 |
0.75 |
Lynx-Chubby |
D279752 |
660275 |
5259365 |
Quartz vein |
o/c |
9.19 |
0.81 |
Lynx-Chubby |
C099445 |
660279 |
5259314 |
Quartz Vein |
o/c |
9.02 |
2.40 |
Lynx-Chubby |
D279763 |
660278 |
5259364 |
Quartz vein |
o/c |
8.81 |
0.99 |
Lynx-Chubby |
C099497 |
660263 |
5259341 |
Quartz Vein |
o/c |
7.46 |
0.27 |
Lynx-Chubby |
D279513 |
660289 |
5259307 |
Quartz Vein |
o/c |
6.73 |
2.19 |
Lynx-Chubby |
D279555 |
660267 |
5259359 |
Quartz vein |
o/c |
6.29 |
0.45 |
Lynx-Chubby |
C099464 |
660258 |
5259325 |
Quartz Vein |
o/c |
5.83 |
0.10 |
Lynx-Chubby |
C099430 |
660268 |
5259313 |
Quartz Vein |
o/c |
5.69 |
2.59 |
Lynx-Chubby |
D279830 |
660259 |
5259297 |
Quartz Vein |
o/c |
5.35 |
8.27 |
* Selected rock grab samples
are selective by nature and may not represent the true grade or
style
The systematic surface sampling program was
conducted along the O’Neil Gold Trend (OGT) between the Lynx and
Chubby Gold Zones, following the 2021 spring-summer stripping and
detailed mapping operations. The significant new grab samples are
illustrated in Figure 1.
The first 380 surface grab samples received, so
far, illustrate perfectly the very high-grade gold enrichment
contact between the sediments and the rhyolite. The arithmetic
average of the 380 new samples collected is 3.14 g/t Au which
includes all the results from below detection limit to a maximum
value of 199 g/t Au. A total of 103 samples returned values over
0.3 g/t Au including 66 that assayed better than 1.0 g/t Au. The
assay results from an additional 214 samples from the current
systematic surface sampling program between the Lynx and Chubby
Gold Zones are still pending and are shown on Figure 1 towards the
Chubby Gold Zone.
INAUGURAL DRILLING PROGRAM AT WILLIAMS
BROOK GOLD PROJECT
The core-oriented maiden drill campaign was
completed on August 20, 2021. It consisted of 18 holes for a total
of 2,360 meters that tested a 200-meter segment of the
700-meter-long O’Neil Gold Trend (OGT). The assay results for the
first six holes were released mid-September and all six (6) holes
intersected significant gold mineralisation including the discovery
hole WB21-02 that cut 5.55 g/t Au over 50.15
meters from surface, including 9.88 g/t Au over
8.60 meters and 46.94 g/t Au over 3.85
meters. The assays are pending for the remaining 12 drill
holes.
Marcel Robillard, President and CEO, stated:
"Once again our Williams Brook Gold Project rewards us with
tremendous gold results from our grab sampling program. We proved
that the assays from surface grab samples can be duplicated by the
drilling results. The first six (6) holes released (see news
15/09/2021) are representative of the mineralisation outlined at
surface and we are extremely confident that the next drill campaign
will be a success”.
Puma's technical team continues to better define
and extend the gold zones on surface by prospecting, trenching,
stripping, and intense sampling in preparation for the next
drilling campaign scheduled for later in 2021. Also, a ground IP
geophysical test survey is in progress over the OGT to see if the
high-grade gold zones have a specific geophysical signature.
Current work programs are highlighted in Figure 2.
O’NEIL GOLD TREND (OGT)
The O’Neil Gold Trend (OGT) is
a pervasive altered and brecciated rhyolite unit hosting
significant gold showings and occurrences followed by trenching and
drilling 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
where previous operator drilled in 2008, 54.2 g/t Au over 2.8
meters and 1 g/t Au over 23 meters.
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 rhyolite varies from 5 to 250 meters with an
average apparent thickness of 150 meters.
Discovery hole WB21-02 intersected 5.55
g/t Au over 50.15 meters from surface. The mineralised and
altered zone drilled includes two main high-grade intercepts of
9.88 g/t Au over 8.60 meters and 46.94 g/t
Au over 3.85 meters. All the six (6) first holes
intersected significant high-grade gold quartz veins and quartz
networks within the altered and mineralised rhyolite.
High-Grade Selected Grab Samples Assays on
the Prolific O’Neil Gold Trend (OGT)*: |
O’Neil Gold Zone: |
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: |
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: |
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
QUALIFIED PERSONS
Dominique 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 EXPLORATION
Puma 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 /
LinkedIn
Learn 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.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/d1648d3b-1a0b-4253-85c7-82bbda635d3f
https://www.globenewswire.com/NewsRoom/AttachmentNg/ae11190a-4ef9-4401-a5da-3963c528ffe5
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