Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is
pleased to announce the discovery of a robust network of quartz
veins with
Visible Gold (VG) at the newly
discovered “Pepitos Gold Zone” (PEPITOS) of the O’Neil Gold Trend
(see Figure 1). The Visible Gold (VG) was observed at 5 different
locations within the stripped area.
The quartz veins network discovered at PEPITOS
is interpreted to be related with an extensional system (Riedel
type) associated with the main structures trending NW identified on
the Williams Brook property. During the stripping and cleaning
operations, at the new zone PEPITOS, the technical team has
identified multiple continuous gold bearing quartz veins with
significant VG and sulphides (Ga+Sp+Cpy) mineralization over a
strike length, so far, of about 40 meters for each vein (see Figure
2). The zone is located only 35 meters East of the O’Neil Showing
and still expands further towards the East.
Highlights :► Discovery of a
robust network of quartz
veins with VG + sulphides at the "PEPITOS GOLD ZONE"► Over
300 samples results are pending
at the "PEPITOS GOLD ZONE"► Continous Gold Trend confirmed
over 75 m from O’Neil Showing to
the "PEPITOS GOLD ZONE"► The veins exposed, are
typically striking between 250° to 320° (network) similar to
O’Neil► The O’Neil Gold Trend (OGT) extends over 5 km and has
never been
drilled
Marcel Robillard, Puma's President & CEO
stated, “Our 2020 field work continues to impress with great
discoveries made at the surface which confirm the potential of this
district-scale gold project to host significant gold deposits. It’s
important to note that all the gold discoveries made so far, along
the the O’Neil Gold Trend (OGT), are located at the surface and
will be used to direct the first drilling program at O’Neil Gold
Trend. Typically major gold deposits begin at the surface and
extend at depth, along fractures similar to the ones found on the
Williams Brook property.”
Figure 1: The O’Neil Gold
Trend (OGT) Extends
Over 5 km and
Has
Never
Been
Drilled is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/bc4b22c7-bf81-4a14-ae8a-7336d896c0ab
Figure
2: Location of
the Pepitos Zone of the Williams
Brook Gold Trend is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/e282a22d-de53-4524-bfaa-5fd7e24d47de
An aggressive program of surface excavation and
stripping is currently in progress at the new Pepitos Gold Zone. So
far, the stripped area is about 40 m x 40 m, where detailed
mapping, sampling, and surveying will be completed (see Figure 3).
The objective of the current work is to further evaluate the
surface expression of the main structures, the alteration and the
gold mineralization to apply the findings over the entire Gold
Trends within the whole Williams Brook property.
Figure 3:
The New Pepitos Gold Zone with
Visible Gold (VG)
Samples
Location is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/d3103a83-f4e2-4d7d-b9a8-4baadb673541
The Visible Gold (VG) was observed in multiple
veins, ranging from 0.10 m to 0.40 m wide, exposed at the surface
over a distance of 40 meters each, and is variably detected in 0.5
to 3.0 millimeters disseminated blebs in a quartz veins breccia
that show pervasive alteration of Chlorite + Sericite. The system
remains open in all directions.
O’NEIL GOLD TREND (OGT)The
first phase of the 2020 summer exploration program led to the
discovery of the O’Neil Gold Showing with the presence of a
significant and pervasive potential gold trend over 5.0 km along
the O’Neil Gold Trend (OGT). The O’Neil Showing consists of an
altered and brecciated rhyolite injected with quartz veins and
quartz stockworks. The altered and brecciated rhyolite is open in
all directions.
The highest gold sample, grading 128.0
g/t Au, is part of the main quartz vein (ranging from
30-50 cm) followed and sampled, so far, over 10 meters in length.
The average gold grade sample of the vein of 30.86 g/t Au
over 10 meters (128.0 g/t Au, 35.2 g/t Au, 18 g/t Au, 14.5
g/t Au, 10.25 g/t Au, 8.33 g/t Au and 1.74 g/t Au), was estimated
from chip and grab samples collected continuously every 1.5 meters
on the main vein.
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 16.90 g/t Au, 8.24 g/t Au, 6.14
g/t Au, 3.57 g/t Au, 2.2g/t Au, and 1.14 g/t Au.
TRIPLE FAULT GOLD PROJECTThe
Triple Fault Gold Project includes three (3) properties named
Williams Brook, Jonpol Gold, and Portage Lake, covering more than
41,500 hectares of favorable gold exploration land package. The
project is located about 60 km 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
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
kilometers.
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 50 g 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) 724-0901;
president@explorationpuma.comChristian Tweedy, Communications,
(604) 619-5810; ctweedy@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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