Puma Samples High Grade Outcrop Grading 109.5 g/t Gold From Selected Grab Sample* at Its Flagship Triple Fault Gold Project, ...
September 01 2020 - 7:00AM
Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is
pleased to announce the initial results of its summer exploration
program conducted on the Williams Brook Property of its flagship
Project; The Triple Fault Gold, in Northern New Brunswick, an
Atlantic Province of Canada.
HIGHLIGTHS:
- High grade gold rock sample,
grading 109.5 g/t Au from selected grab sample*
collected at the O’Neil Showing.
- The average gold grade samples of
the vein is 27.4 g/t Au over 10 meters (109.5 g/t
Au, 38.8 g/t Au, 21.0 g/t Au 7.38 g/t Au 6.63 g/t Au, 5.55 g/t Au
and 2.94 g/t Au)*.
- The high grade gold quartz vein
(ranging from 30-50cm) has been followed, so far, over 10 meters in
length.
- Quartz stockworks and veinlets
within the surrounding rhyolite returned respectively high grade
gold of 8.24 g/t Au, 6.14 g/t Au, 3.57 g/t Au and 1.14 g/t
Au.
- The altered and brecciated rhyolite
is open in all directions and now exposed for 10 meters by 10
meters.*Rock chip and grab samples are selective by nature and may
not represent the true grade or style of mineralization across the
property.
Marcel Robillard, Puma's President & CEO
stated, "We are very excited with our first phase of exploration at
Williams Brook with the discovery of the high gold grade outcrop on
the property in an area that was never trenched or drilled before.
We are surprised by the consistency of the high grade results at
the O’Neil showing in the main vein but also within the surrounding
rhyolite which demonstrate the gold potential of our new flagship
project in New Brunswick to host large gold deposits as the other
similar players in the Atlantic Gold District. The technical teams
are currently prioritizing the O’Neil Showing for detailed mapping,
including additional sampling and trenching in order to verify the
extensions and define drill targets."
O’NEIL GOLD ZONE (OGZ)The first
phase of the 2020 summer exploration program lead to the discovery
of a high grade gold system; the O’Neil showing. The highest gold
sample, grading 109.5 g/t Au, is part of a quartz
vein (ranging from 30-50cm) followed and sampled, so far, over 10
meters in length. The average gold grade samples of the vein of
27.4 g/t Au over 10 meters (109.5 g/t Au, 38.8 g/t
Au, 21.0 g/t Au 7.38 g/t Au 6.63 g/t Au, 5.55 g/t Au and 2.94 g/t
Au)*, was estimated from chip and grab samples collected
continuously every 1.5 meters on the main vein (see Picture 1 of
the O’Neil Showing and Picture 2 of the rock samples).
Picture 1: O’Neil
Showing is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d0e6e704-2ea5-4ef1-8f73-33d2e097ebff
The O’Neil showing (outcrop) consists of an
altered and brecciated rhyolite injected with quartz veins and
quartz stockworks. The main vein is rusty and contains disseminated
sulphides such as sphalerite, galena, and chalcopyrite. Following
the hand and shovel cleaning of the main vein, surrounding quartz
stockworks and veinlets within the rhyolite were found, sampled and
reported respectively high grade gold of 8.24 g/t Au, 6.14
g/t Au, 3.57 g/t Au and 1.14 g/t Au.The altered and
brecciated rhyolite is open in all directions and now exposed for
10 meters by 10 meters. More work is currently in progress at the
O’Neil Showing to better define and understand the gold system. It
is noted that this area has never been trenched or drilled in the
past.
Picture 2: Grab Samples collected at the
O’Neil Showing is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/8336d4ba-a3b6-4af5-91de-1c9a8a133b53
2020 SUMMER EXPLORATION
PROGRAMConcurrently with the initial work done on the
O’Neil Showing, the early phase of the summer exploration program
incorporated large detailed prospecting and mapping mainly focused
on the southern part on the Williams Brook property which include
the main gold bearing zones (GZ) interpreted and
known below (see Map 1) :
■ O’Neil Gold Zone
(OGZ)■ Williams 1 Gold Zone
(W1GZ)■ Williams 2 Gold Zone
(W2GZ)■ Ramsay Gold Zone
(RGZ)
Map 1: The Main Gold Zones at the
Williams Brook property is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d5c5fe33-1ef5-491a-8ff4-16342b13bb59
A total of 175 rock samples, consisting of a mix
of outcrops and boulders were collected on the property during this
early reconnaissance stage of exploration. Most of them are quartz
and rhyolite samples. Results are pending and will be released once
they become available.
TRIPLE FAULT GOLD PROJECTThe
Triple Fault Gold Project includes three (3) properties named
Williams Brook Gold, Jonpol Gold, and Portage Lake properties
covering more than 30,000 hectares of favorable gold exploration
land package. The project is located about 60km west of Bathurst
with the paved road cross-cutting the property.
Puma is currently focusing its field work on its
first priority, the Williams Brook property. The Williams Brook
Gold property includes selected drill results of 11.2 g/t over
2.8m, 2.1 g/t Au over 9.0m and 1.0 g/t over 23m, gold occurrences
grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 g/t Au in bedrock,
numerous gold soil anomalies and extremely anomalous till samples
with up to 508 gold grains that occur over an area approximately 12
by 3 kilometres.
There has been very limited drilling and
exploration in the area mapped to be part of The Dunnage Zone
hosting major gold deposits and gold occurrences in siluro-devonian
rocks and considered as an emerging gold exploration and
development district.
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). Rock
sample ICP results with gold >1g/t were subjected to a metallic
screening (Au-SCR24) 1kg pulp screened to 100 microns. 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.pumaexploration.com for
further information on Puma.Marcel Robillard, President(418)
724-0901president@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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