Puma Exploration Drilled 1.00 g/t Au Over 40.6 Meters and Extends the Gold Mineralised Zone Into the Sediments at Williams Brook Gold Property
22 October 2021 - 1:33AM
Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is
pleased to announce the results from six (6) additional drill holes
completed within the inaugural drilling program at its flagship
Williams Brook Gold Project located in New Brunswick, an emerging
new gold district of Atlantic, Canada.
These six (6) holes were collared to test the
extension into the sediments of the gold bearing quartz veins
intersected within the altered rhyolite by the previously announced
six (6) drill holes (see Figure 1). These results clearly show that
the gold mineralised envelope extends within the sediments and is
not restrained to the altered rhyolite near the lithological
contact.
HIGHLIGHTS
- All six (6) holes intersected continuous pervasive alteration
and mineralisation:
- WB21-12 grade 1.00 g/t Au over 40.6m including 6.93 g/t Au over
3.8m
- WB21-09 grade 1.07 g/t Au over 36.0m including 15.52 g/t Au
over 1.7m
- WB21-10 grade 1.07 g/t Au over 14.4m including 2.24 g/t Au over
6.0m
- Gold contained in quartz veins networks intersected at depth
duplicates very well the surface grab samples assays.
- Significant gold mineralisation observed in the rhyolite is now
recognized in the sediments thus increasing the potential siz eof
the favourable corridor.
- High grade gold veins extending in the sediments such as: 48.2
g/t Au over 0.4m, 22.2 g/t Au over 0.7m, 20.0 g/t Au over 0.5m,
19.9 g/t Au over 0.5m and 18.8 g/t Au over 0.5m.
Marcel Robillard, President and CEO, stated: “We
are pleased to confirm that the significant high grade gold
intercepts are not limited to the altered rhyolite but also extend
into the sediments. It is in line with our structural model of a
N260 oriented high-grade gold bearing quartz veins network open on
both side and at depth. So far, results are impressive for a first
initial 2,300 meters drilling campaign and needless to say that we
can’t wait to launch the planned 10,000m soon!''
Figure 1. Map of the Lynx Zone Drill
Resultshttps://www.globenewswire.com/NewsRoom/AttachmentNg/76dc6864-0afa-4b7d-8c06-bb23e4c2994b
These gold bearing quartz veins networks are
consistent along the favorable contact sediment/rhyolite and recent
sampling results (see PR 2021-10-14) confirmed the presence of
other similar systems along strike within the 7 kilometers
potential O’Neil Gold Trend. Stripping and intense sampling will
then be extended an additional 300 meters NE toward the Moose Gold
Zone.
Table 1. Significant Drill Results for
WB21-06 to WB21-12*
Hole ID |
From (m) |
To (m) |
Lenght (m) |
Au (g/t) |
WB21-07 |
8.40 |
34.00 |
25.60 |
0.46 |
Incl. |
8.40 |
9.85 |
1.45 |
2.18 |
and |
25.00 |
33.00 |
8.00 |
0.95 |
Incl. |
25.00 |
25.90 |
0.90 |
5.40 |
Incl. |
32.00 |
33.00 |
1.00 |
1.22 |
|
|
|
|
|
|
146.75 |
150.00 |
3.25 |
0.49 |
Incl. |
149.40 |
150.00 |
0.60 |
2.14 |
WB21-08 |
8.00 |
33.50 |
25.50 |
0.46 |
Incl. |
8.50 |
10.10 |
1.60 |
5.93 |
and |
9.05 |
10.10 |
1.05 |
8.96 |
|
|
|
|
|
|
25.80 |
27.90 |
2.10 |
0.62 |
|
|
|
|
|
|
65.30 |
65.75 |
0.45 |
1.17 |
WB21-09 |
15.00 |
51.00 |
36.00 |
1.07 |
Incl. |
15.00 |
18.40 |
3.40 |
8.04 |
Incl. |
16.30 |
18.00 |
1.70 |
15.52 |
and |
38.00 |
39.00 |
1.00 |
10.24 |
Incl. |
38.50 |
39.00 |
0.50 |
20.00 |
WB21-10 |
17.20 |
31.60 |
14.40 |
1.07 |
Incl. |
17.20 |
23.20 |
6.00 |
2.24 |
Incl. |
19.20 |
21.20 |
2.00 |
4.17 |
WB21-11 |
21.50 |
45.85 |
24.35 |
0.23 |
Incl. |
21.50 |
23.50 |
2.00 |
1.00 |
and |
45.40 |
46.50 |
1.10 |
1.97 |
WB21-12 |
28.40 |
69.00 |
40.60 |
1.00 |
Incl. |
28.40 |
54.00 |
25.60 |
1.58 |
Incl. |
28.60 |
35.00 |
6.40 |
4.83 |
Incl. |
28.60 |
32.40 |
3.80 |
6.93 |
|
|
|
|
|
Incl. |
28.60 |
29.00 |
0.40 |
48.20 |
and |
32.00 |
32.40 |
0.40 |
12.75 |
and |
34.50 |
35.00 |
0.50 |
5.02 |
and |
53.00 |
54.00 |
1.00 |
8.54 |
* Stated lengths in meters are downhole core
lengths and not true widths. True widths will be calculated once
more drilling confirms the geometry of the quartz-sulphide
system.
CURRENT WORK PROGRAM AT WILLIAMS BROOK
GOLD PROJECTPuma'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 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 on the Figure 2.
Figure 2. Current Work in Progress at
O’Neil Gold
Trendhttps://www.globenewswire.com/NewsRoom/AttachmentNg/b531a39f-72f2-4db9-ba61-ab2859374c2b
Table 2. Technical Informations About
the Drill Holes Released
Hole ID |
Utm X |
Utm Y |
Orientation |
Angle |
Lenght (m) |
WB21-07 |
660253 |
5259313 |
N155º |
-45 º |
210 |
WB21-08 |
660253 |
5259314 |
N155º |
-65 º |
139 |
WB21-09 |
660236 |
5259306 |
N155º |
-45 º |
99 |
WB21-10 |
660236 |
5259306 |
N155º |
-65 º |
98 |
WB21-11 |
660219 |
5259296 |
N155º |
-45 º |
58 |
WB21-12 |
660219 |
5259297 |
N155º |
-65 º |
150 |
WB21-13 |
660235 |
5259260 |
N155º |
-45 º |
110 |
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.
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
twelve (12) first holes are released and all 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 6 drill holes.
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 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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