Puma Exploration Reports up to 121.50 g/t Gold in Grab Samples* From Last 2021 Surface Exploration Results
22 March 2022 - 9:00PM
Puma Exploration Inc. (TSXV: PUMA, OTC: PUXPF) (the "Company" or
"Puma") is pleased to report that additional surface samples
collected at its Williams Brook Gold Project in New Brunswick,
Canada, last fall have returned high-grade gold. Four (4) grab
samples* that graded above
100 g/t Au (>3 oz/t
Au) are located above Puma’s current drilling area (see
Figure 1). Results from the last 566 grab samples collected as part
of Puma's Fall 2021 stripping program at the O'Neil Gold Trend
("OGT") have now been received. High-grade gold results will
continue to be used to identify drilling targets in the Company’s
ongoing 10,000 m drilling program.
Figure 1 accompanying this
announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/89e0f6cb-54be-4b9f-a57c-4d61a182000c
From the last 566 samples collected at the OGT
last fall and reported today, 66 (11.6%) show gold grades above
1.00 g/t Au. Of these, 21 returned gold grades
above 10.00 g/t Au (see Table 1). The average
grade of this last batch (all 566) of results, ranging from below
detection limit up to 121.50 g/t Au, is
2.01 g/t Au.
Based on the Company's previous success drilling
high-grade gold areas identified at surface (grab samples* of
241.00 g/t Au, 199.00 g/t Au, 57.40 g/t Au
returned 5.55 g/t Au over 50.15 m at depth, see
Sept. 15, 2021 News Release), today’s results confirm and expand
Puma’s priority targets in its ongoing 10,000 metres drilling
program.
Table 1: Selected grab sample gold
results above 10 g/t Au
Sample ID |
Au-GRA22 |
Sample ID |
Au-GRA22 |
Sample ID |
Au-GRA22 |
Sample ID |
Au-GRA22 |
|
Au g/t |
|
Au g/t |
|
Au g/t |
|
Au g/t |
D248399 |
12.35 |
D248468 |
18.15 |
D248210 |
24.50 |
D279887 |
106.50 |
D249004 |
15.40 |
D248469 |
35.20 |
D248215 |
13.70 |
D279897 |
57.30 |
D249049 |
25.60 |
D248483 |
20.10 |
D248217 |
38.00 |
D279898 |
102.50 |
D248458 |
51.80 |
D248490 |
13.35 |
D248243 |
19.00 |
D279899 |
121.50 |
D248460 |
52.20 |
D248491 |
58.30 |
D248404 |
21.40 |
D279900 |
101.50 |
D248467 |
77.70 |
|
|
|
|
|
|
*The reader is cautioned that grab samples are
selective by nature and may not represent the true metal content of
the mineralized zone.
UPDATE ON CURRENT DRILLING
PROGRAMThe objective of the 2022 drilling program is to
test the OGT along its 750 metres strike length and confirm the
depth extension of the high-grade gold-bearing quartz veins found
on surface (see Figure 2). To date, nineteen (19) holes have been
drilled for a total of 2,390 metres.
The holes, so far, were collared northeast of
the Lynx Gold discovery, where a wide gold mineralized zone was
identified by drilling last summer, including the intersection of
5.55 g/t Au over 50.15 m in hole WB 21-02 (see Sept. 15, 2021 News
Release). The drilling targets areas where surface samples have
returned significant gold grades (> 1 g/t Au). Two thousand five
hundred (2,500) core samples have been sent to the laboratory for
assaying. Results are pending and will be released when
received.
The systematic drilling will continue toward the
O’Neil Gold Zone, located 250 meters southwest of the Lynx Gold
zone, targeting the contact between the sediments and the
rhyolite.
Figure 2 accompanying this
announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ba9da217-2062-4614-86aa-9bc0dc5b17f8
QUALIFIED PERSONDominique
Gagné, PGeo, a qualified person as defined by Canadian National
Instrument 43-101 standards, has reviewed and approved the
geological information reported in this news release.
ON-SITE QUALITY ASSURANCE/QUALITY
CONTROL ("QA/QC") MEASURESGrab samples were bagged, sealed
and sent to the facility of ALS CHEMEX in Moncton, New Brunswick,
where each sample was dried, crushed, and pulped before being fire
assayed (Au-ICP21). The remaining coarse reject portions of the
samples remain in storage for further work or verification as
needed. As part of its QA/QC program, the Company inserts external
gold standards (low to high grade) and blanks for every batch of
surface samples. All samples over 10 g/t gold or with abundant
visible gold are analyzed with gravity finish (Au-GRA22). Check
assays are routinely performed for samples with visible gold to
ascertain the gold content of the mineralization zone.
COVID-19 PRECAUTIONSPuma has
developed and implemented precautions and procedures compliant with
Québec and New Brunswick's health guidelines. Strict protocols are
in place to ensure the safety of all staff, thereby reducing the
potential for community contact and spreading of the virus.
ABOUT PUMA EXPLORATIONPuma
Exploration is a Canadian-based mineral exploration company with
precious metals projects located near 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.
Puma Exploration (TSXV:PUMA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Puma Exploration (TSXV:PUMA)
Historical Stock Chart
From Jul 2023 to Jul 2024