Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or
"Puma") is pleased to announce that it has launched a significant
metallurgical study at its Williams Brook Gold Project following
exceptional results from a preliminary metallurgical test conducted
this past summer. Mineral processing recovered up to
99.7%
gold from samples drilled in 2021 at the Lynx Gold Zone
(“LGZ”).
The larger-scale testing is designed to increase
the representativity of the initial results and enhance the gold
recovery at the Lynx Gold Zone. The expanded test will be
instrumental in optimising Puma’s ongoing development at the LGZ
and will provide valuable data as the Company prepares for a bulk
sample.
HIGHLIGHTS OF THE PRELIMINARY
STUDY:
- Gold recovery ranged from
98.7% to 99.7%;
- Simple gravity,
using only a bench scale Knelson concentrator, recovered
92% gold;
- The head grade of low-grade
material was calculated at 1.49 g/t Au vs 0.46 g/t Au (measured),
indicating that a “nugget effect” is at play;
- Recovery required little
cyanide - only 0.19 kg/t to 1.98 kg/t for optimal
recovery;
- LGZ samples contain
negligible arsenic and
sulfur.
Puma contracted Research & Productivity
Council (“RPC”) from Fredericton, New Brunswick, an accredited
laboratory, to conduct a preliminary recovery program on pulps and
rejects from selected high-grade and low-grade drill core samples
collected during its 2021 drilling campaign at the Lynx Gold Zone.
Nearly 3,000 samples were processed, including 11 kg of high-grade
quartz-rhyolite pulp samples, 9.5 kg and 6.5 kg of low-grade
quartz-rhyolite pulp samples and low-grade quartz-rhyolite reject
samples.
A centrifugal gravity concentration test was
conducted on the homogenised low-grade reject samples. At a grind
size of 100% passing 1.0 mm, a concentrate grading 35.0 g/t
Au was produced in 3.9% of the mass to give a
recovery of 92% Au. Also, the test head grade was
calculated at 1.49 g/t Au whereas the material measured 0.46 g/t
Au, indicating that the material is subject to the nugget
effect.
A standard cyanidation extraction was also
completed to maximise gold recovery. The high-grade rejects,
low-grade pulps and low-grade rejects underwent bottle roll
cyanidation. Gold recoveries were 99.7%, 98.7% and
99.2%, respectively. The full report will be available on
Puma’s website.
CURRENT EXPANDED METALLURGICAL
PROGRAM
Drilling has confirmed that the Lynx Gold Zone
hosts a significant gold system. Puma’s expanded metallurgical
program is designed to better define the quality of gold
mineralisation at the Lynx Gold Zone, identify opportunities and
potential challenges and further optimise recovery. The study will
also provide Puma with a flowsheet (recipe) for processing a future
bulk sample.
For this advanced study, the following material
from the Lynx Gold Zone will be processed:
- Samples from eight
(8) new HQ holes drilled this fall;
- Grab, chip and channel samples
collected from 12 significant gold-bearing quartz veins uncovered
during this fall’s stripping operation.
HQ drill holesEight (8) HQ
holes, for a total of 102 m, were drilled on three (3) main quartz
veins (Figure1). Half of the core was sent to RPC for the recovery
tests, and the other half was split and sent to the ALS Chemex lab
for gold assaying. The core sent to RPC will be blended to make one
(1) representative sample for each hole. The holes vary in length
from 6 metres to 18 metres (see Table 1).
Figure 1. Location of the eight (8) HQ
holes drilled at the LGZ
https://www.globenewswire.com/NewsRoom/AttachmentNg/4c620728-50b2-47c1-babb-af6bd91bc11a
Table 1. Coordinates of HQ
holes
Hole |
UTM Nad83 Z19 EAST |
UTM Nad83 Z19 NORTH |
AZM (N) |
Dip (-) |
Length (m) |
WB22-114 |
660263 |
5259312 |
360 |
90 |
6 |
WB22-115 |
660270 |
5259304 |
360 |
90 |
6 |
WB22-116 |
660274 |
5259305 |
350 |
80 |
9 |
WB22-117 |
660278 |
5259305 |
350 |
80 |
18 |
WB22-118 |
660280 |
5259306 |
360 |
90 |
18 |
WB22-119 |
660267 |
5259314 |
360 |
90 |
9 |
WB22-120 |
660271 |
5259348 |
360 |
90 |
18 |
WB22-121 |
660279 |
5259348 |
360 |
90 |
18 |
Surface sampling of quartz
veins
To get a better representation of the
mineralisation at the Lynx Gold Zone for the advanced recovery
tests, Puma also sampled material from quartz veins uncovered at
surface by this summer’s stripping operation. Grab, chip and
channel samples were collected from 12 large quartz veins (see
Picture 1 and Figure 2) representing a strike length of over 600
metres at the Lynx Gold Zone. Samples from each vein were blended
to represent that vein and sent to RPC. A total of twelve 45-gallon
drums (one for each vein), totalling about 300 kg (600 lbs) each,
were sent for testing.
Assay results are expected in 45-60 days, with
the advanced metallurgical tests completed in 90-120 days. Results
will be announced when received.
Picture 1. Typical quartz vein sampled
at the LGZ
https://www.globenewswire.com/NewsRoom/AttachmentNg/5431434c-1fde-4136-b433-079a8eb6b325
Figure 2. Location of the 12 significant
quartz veins sampled at the LGZ
https://www.globenewswire.com/NewsRoom/AttachmentNg/87c7653d-864d-4bff-8e3b-9fbf1ef696ed
ABOUT THE WILLIAMS BROOK GOLD PROJECT
AND THE LYNX GOLD ZONE
The Williams Brook Gold Project
is comprised of 6 claim blocks covering more than 46,000 ha in an
established and mining-friendly jurisdiction, near paved roads and
with excellent infrastructure in place (Figure 3).
FIGURE 3: The Williams Brook Gold
Project
https://www.globenewswire.com/NewsRoom/AttachmentNg/83000917-a211-4344-804f-7bd06255d538
The Lynx Gold Zone is
interpreted to be a mineralised felsic dome within a large
epithermal/orogenic gold system part of the Appalachian Orogeny.
The high-grade gold mineralisation is characterised by finely
disseminated gold in quartz (veins, veinlets, stockworks, breccias)
affected by pervasive supergene alteration. The stratigraphy of the
dome is well-defined and typical: fine laminated turbidite-type
sedimentary unit, rhyolite breccia with sedimentary fragments,
massive rhyolite unit and sedimentary and volcano-clastic units.
The contact between the sediment and the rhyolite allowed for the
movement of gold-bearing fluids and is characterised by highly
silicified iron oxide carbonates and intense sericite alteration.
The Lynx Gold Zone was discovered in 2020 by high-grade surface
samples and later recognised at depth in 2021 by hole
WB21-02 that intersected 5.55 g/t Au over 50.15 m
from surface, including two high-grade gold veins with 9.88 g/t Au
over 8.60 m and 46.94 g/t Au over 3.85 m.
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.
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.
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