Puma Exploration Completes Property-Scale Airborne Radiometric Survey
06 December 2021 - 10:00PM
Puma Exploration Inc. (TSXV: PUMA) (the “Company” or “Puma”) is
pleased to announce that it has completed a 2,185 line-km airborne
radiometric survey that covers the entirety of its 20,000 ha
Williams Brook Property in New Brunswick, Atlantic-Canada. The
radiometric survey will help identify potassic alteration and
potential associated gold mineralisation across the property.
Figure 1: Heliborne Radiometric Survey in
Progress at Williams Brook accompanying this
announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1bba7c7a-1639-43e7-86d4-0f4e407f965f
In addition, building on the success of its
inaugural drilling program, Puma extended its 2021 VTEM and
magnetic survey to cover an additional 1,015 line-km over the new
claims staked and optioned in 2021. The geophysical signature of
Puma’s major discovery of 5.55 g/t Au over 50.15 m along the O’Neil
Gold Trend (“OGT”) (see Sept. 15, 2021 press release) will be
applied to the new VTEM data set to identify new prospective
anomalies.
The compilation and analysis of the new VTEM
data along with the radiometric survey, the latest assay results,
and structural and surface mapping data will identify new drilling
targets for Puma’s upcoming 10,000 m drilling program.
PAIRING GEOPHYSICS WITH THE LATEST DRILL
RESULTS TO INFORM THE NEXT ROUND OF DRILLINGThis summer,
Puma successfully drilled 2,300 m at Williams Brook and made a
major discovery with 5.55 g/t Au over 50.15 m along the O’Neil Gold
Trend (“OGT”) within the inaugural drilling program which include
continuous and extensive gold mineralisation from surface as
1.16g/t Au over 48.70 meters. High-grade gold mineralisation was
found to occur along the prominent geophysical anomaly identified
by the Winter 2021 survey, at the contact between rhyolite and
sediments, in networks of brecciated quartz veins. 3D structural
analysis of the quartz veins is being carried out to determine the
orientation and dip of the high-grade gold-bearing veins to
optimize future drilling operations.
The 2021 VTEM survey indicated that the OGT
extends for over 7 km. The newly expanded survey will map the
rhyolite and sediment contact across the 20,000 ha property. The
geophysical signature of Puma’s latest discovery will also be
applied to the new data set to identify additional prospective
targets across the land package.
HIGH-RESOLUTION AIRBORNE RADIOMETRIC
SURVEYEpithermal gold deposits range from thin quartz
veins to large disseminated deposits located in various geological
environments. They exhibit a wide range of geophysical signatures.
Hydrothermal alteration in these deposits causes pronounced changes
in the physical properties of rocks. Magnetic susceptibility and
remanence decrease; potassium content commonly increases, causing
an increase in radioactivity; electrical resistivity changes by up
to two orders of magnitude; and density increases or decreases
depending on the nature of the host rock and alteration
processes.
Airborne radiometric surveys determine the
natural radioactivity of near-surface rocks and soils using a
gamma-ray spectrometer installed in a helicopter. They are useful
in mapping the large potassic-alteration haloes of low sulphidation
epithermal Au-Ag deposits that often extend over several square
kilometres.
Figure 2: Detailed Flight Path for the
Entire Williams Brook Heliborne Geophysical
Survey accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a073cff7-5591-4e65-9fc8-039db3e68e47
QUALIFIED PERSONDominique
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.
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. The Company is committed to its DEAR
strategy (Development, Exploration, Acquisition and Royalties) to
generate maximum value for shareholders with low share-
dilution.Connect with us on Facebook / Twitter / LinkedInVisit
www.explorationpuma.com for more information or contact:Marcel
Robillard,President, (418)
750-8510;president@explorationpuma.com
Mia Boiridy,Head of Investor Relations and
Corporate Development, (250) 575-3305;
mboiridy@explorationpuma.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept responsibility for the
adequacy or accuracy of this release.
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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