Puma Exploration Drills 5.11 g/t Au Over 8.35 Meters Within a Broader Zone Grading 0.82 g/t Au Over 78.75 Meters at Williams Brook Gold Property
12 November 2021 - 6:35AM
Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is
pleased to announce the results from the last six (6) holes drilled
within the inaugural drilling program at its Williams Brook Gold
Project located in New Brunswick, an emerging new gold district of
Atlantic, Canada.
These six (6) holes were collared to verify the
continuity of the gold mineralisation along strike toward the
O’Neil Gold Zone (holes WB21-13 and WB21-18) and toward the Chubby
Gold Zone (holes WB-14 to WB21-17). These results clearly show that
the gold mineralised envelope is open in both directions. The
mineralised zone is particularly well recognised toward the Chubby
Gold Zone where hole WB21-16 intersected from surface a broad
mineralised and altered zone of 78.75 meters grading 0.82
g/t Au including a higher grade core of 5.11 g/t
Au over 8.35 meters (see Figure 1 and Table 1).
Marcel Robillard, president and CEO of Puma
Exploration commented: “With the complete results in hand from the
2,360 meters of core-oriented maiden drilling campaign that tested
the O'Neil Gold Trend, we now better understand the different
parameters of this highly potential new gold discovery (see Figure
2). We are very enthusiastic and Puma will continue to build on the
success of its systematical and disciplined exploration by
uncovering new gold-bearing quartz veining systems along the
sediment-rhyolite contact. We have found gold on surface for more
than 350 meters of strike to date, and this is not over yet!”
Table 1. Significant Drill Results for
WB21-13 to WB21-18*
Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
WB21-13 |
23.65 |
73.00 |
49.35 |
0.30 |
incl. |
24.65 |
35.00 |
10.35 |
1.27 |
incl. |
25.25 |
33.00 |
7.75 |
1.49 |
incl. |
25.25 |
27.25 |
2.00 |
3.34 |
incl. |
26.70 |
27.25 |
0.55 |
7.53 |
and |
32.00 |
33.00 |
1.00 |
4.06 |
|
69.00 |
69.30 |
0.30 |
2.71 |
WB21-14 |
8.00 |
36.40 |
28.40 |
0.70 |
incl. |
23.70 |
33.80 |
10.10 |
1.86 |
incl. |
32.70 |
33.80 |
1.10 |
16.70 |
|
118.00 |
118.55 |
0.55 |
0.67 |
WB21-15 |
5.95 |
14.40 |
8.45 |
0.10 |
incl. |
9.50 |
10.10 |
0.60 |
0.84 |
WB21-16 |
2.30 |
109.40 |
107.10 |
0.62 |
incl. |
9.60 |
88.35 |
78.75 |
0.82 |
incl. |
9.60 |
24.50 |
14.90 |
1.34 |
incl. |
9.60 |
11.70 |
2.10 |
8.42 |
|
10.15 |
10.55 |
0.40 |
25.10 |
and |
42.95 |
88.35 |
45.40 |
1.00 |
incl. |
70.50 |
88.35 |
17.85 |
2.40 |
incl. |
80.00 |
88.35 |
8.35 |
5.11 |
incl. |
80.00 |
80.60 |
0.60 |
48.00 |
and |
86.85 |
87.30 |
0.45 |
10.60 |
and |
88.00 |
88.35 |
0.35 |
25.30 |
WB21-17 |
4.00 |
114.50 |
110.50 |
0.35 |
incl. |
4.00 |
40.00 |
36.00 |
0.43 |
incl. |
4.00 |
11.50 |
7.50 |
2.00 |
incl. |
4.00 |
7.25 |
3.25 |
4.50 |
incl. |
5.15 |
6.00 |
0.85 |
15.15 |
and |
103.70 |
114.50 |
10.80 |
2.13 |
incl. |
107.00 |
111.65 |
4.65 |
4.85 |
incl. |
107.00 |
107.60 |
0.60 |
30.10 |
WB21-18 |
24.50 |
67.00 |
42.50 |
0.11 |
incl. |
24.50 |
36.00 |
11.50 |
0.34 |
incl. |
24.50 |
26.80 |
2.30 |
1.61 |
incl. |
24.85 |
26.00 |
1.15 |
2.31 |
and |
35.60 |
36.00 |
0.40 |
0.40 |
and |
62.00 |
63.00 |
1.00 |
0.41 |
and |
87.70 |
88.80 |
1.10 |
0.56 |
* 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.
SUMMARY OF THE INAUGURAL DRILLING
PROGRAM AT WILLIAMS BROOK
- The holes intersected continuous pervasive alteration and
mineralisation from surface:
- WB21-01 grades 1.30 g/t Au over 25.6m including 5.50g/t Au over
6.4m
- WB21-02 grades 5.50 g/t Au over 50.5m including 46.94
g/t Au over 3.9m
- WB21-03 grades 0.55 g/t Au over 37.6m including 7.81 g/t Au
over 2.2m
- WB21-05 grades 1.00 g/t Au over 26.4m including 12.64 g/t Au
over 2.0m
- WB21-06 grades 1.16 g/t Au over 48.7m including 16.92
g/t Au over 2.9m
- WB21-07 grades 0.46 g/t Au over 25.6m including 5.40 g/t Au
over 0.9m
- WB21-08 grades 0.46 g/t Au over 25.5m including 8.96 g/t Au
over 1.1m
- WB21-09 grades 1.07 g/t Au over 36.0m including 15.52
g/t Au over 1.7m
- WB21-10 grades 1.07 g/t Au over 14.4m including 4.17 g/t Au
over 2.0m
- WB21-12 grades 1.00 g/t Au over 40.6m including 6.93
g/t Au over 3.8m
- WB21-13 grades 0.30 g/t Au over 49.4m including 7.53 g/t Au
over 0.6m
- WB21-14 grades 0.70 g/t Au over 28.4m including 16.7 g/t Au
over 1.1m
- WB21-16 grades 0.82 g/t Au over 78.8m including 5.11
g/t Au over 8.4m
- WB21-17 grades 0.35 g/t Au over 110.5m including 4.85 g/t Au
over 4.7m
- Very high-grade samples collected
at depth are representative of surface grab samples:
- WB21-02 grades 69.9 g/t Au over
1.0m at 46.5m down the hole
- WB21-03 grades 23.1 g/t Au over
0.65m at 56.85m down the hole
- WB21-06 grades 72.1 g/t Au over
0.30m at 47.6m down the hole
- WB21-14 grades 89.1 g/t Au over
0.20m at 33.6m down the hole
- WB21-16 grades 48.1 g/t Au over
0.60m at 80.0m down the hole
- WB21-17 grades 30.1 g/t Au over
0.60m at 107.0m down the hole
- Significant gold mineralisation is
extending in the deeper holes:
- WB21-04 grades 2.84 g/t Au over
1.0m at 140.5m
- WB21-07 grades 3.42 g/t Au over
0.35m at 149.65m
- WB21-16 grades 25.3 g/t Au over
0.35m at 88.0m
- WB21-17 grades 30.1 g/t Au over
0.6m at 107.0m
- Significant high-grade gold
mineralisation observed in the rhyolite is now recognized in the
sediments thus increasing the potential size of the favourable
corridor. These drill intercepts are listed here: 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.
Table 2. Technical Information About the
Drill Holes Released
Hole ID |
Utm X |
Utm Y |
Orientation |
Angle |
Length (m) |
WB21-13 |
660235 |
5259260 |
N155º |
-45 º |
110 |
WB21-14 |
660262 |
5259372 |
N155º |
-45 º |
124 |
WB21-15 |
660262 |
5259372 |
N155º |
-65 º |
83 |
WB21-16 |
660281 |
5259380 |
N155º |
-45 º |
149 |
WB21-17 |
660281 |
5259380 |
N155º |
-55 º |
242 |
WB21-18 |
660208 |
5259247 |
N155º |
-45 º |
119 |
CURRENT WORK PROGRAM AT WILLIAMS BROOK
GOLD PROJECT
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. Additional grab samples results are pending,
including the discovery of quartz veins with visible gold between
the Chubby and the Moose Gold Zones (see Figure 3).
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 gold 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.
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.
Figure 1: Alteration and Mineralisation
Intersected in Drillhole WB21-16 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/55dae76a-65d8-424d-a749-d242c3eec585
Figure 2: Mineralised and Altered Zone
Defined by the 2021 Inaugural Drilling Program is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b091f786-1b16-42c7-a64a-c27a0a093b57
Figure 3: Current Stripping Between the
Chubby and Moose Gold Zones is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0b7aa9a9-9ed9-44e0-9f89-0a85b3fc1418
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