Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is
pleased to announce that it has contracted Geotech Ltd. of Aurora,
Ontario to carry out a helicopter-borne survey (VTEMtm Plus) to
cover the Company’s flagship 100%-owned Triple Fault Gold Project
(19,000 hectares). The survey area is approximately 2,855 lines-kms
over 2 blocks with detailed line spacing of 100 meters (see Figure
1).
Figure 1: Airborne Geophysical Survey at Triple Fault
Gold Project
Modelling this new airborne geophysics data,
which covers known gold mineralization and gold trends on the
Williams Brook property, will be conducted in combination with the
analysis of previous drilling, geochemical anomalies, and new
geologic information collected during the current trenching and
stripping program to quickly refine and prioritize drill targets
for the next phase of exploration on the Williams Brook
property.
Figure 2: Main Gold Trends on the Williams Brook
property
To date, four (4) multi-kilometer-scale parallel
target areas have been identified on the Williams Brook property
(see Figure 2). Within these major gold trends, a very limited
amount of drill testing has been conducted, which has demonstrated
the presence of significant gold mineralization grading up to
11.2 g/t Au over 2.8m and 1.0 g/t Au over 23.0m.
The newly discovered O’Neil Gold Trend follows over 5 km and has
never been drilled.
“With the addition of the new airborne survey,
which should show distinctive signatures over areas of known
mineralization, along with the new exploration results from the
current 2020 trenching program (with more than 800 samples results
pending), the Company will be able to develop a predictive model of
the geological and structural controls for gold mineralization and
to guide future gold exploration in the area.” Notes Marcel
Robillard, President and CEO of Puma Exploration.
The survey will also cover the 100%-owned Jonpol
Gold, Portage Lake, and Murray Brook West properties, for which the
new accurate and detailed data will be useful to initiate field
exploration next summer on these properties.
Figure 3: The Triple Fault Gold Project Properties
Covered by the Airborne Survey
Marcel Robillard, Puma's President & CEO
stated, “The acquisition and modelling of this airborne geophysical
survey is a major step for the entire Triple Fault Gold project,
which was only acquired in 2020. The combination of significant
recent discoveries in addition to the geochemical and geophysical
data layers will allow Puma to refine and prioritize drill targets
with the objective of identifying areas with the best gold
potential. We look forward to providing additional updates on the
field work programs on the Williams Brook property.”
O’NEIL GOLD TREND (OGT)The
first phase of the 2020 summer exploration program lead to the
discovery of the GOLD O’Neil 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 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) 724-0901;
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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