Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is
pleased to report assays results for the surface discoveries of
Visible Gold (VG) at the Pepitos Gold Zone (see
news releases 2020-11-12, 2020-11-19) as well as additional new
results for the O’Neil Showing (see news releases 2020-09-01,
2020-09-22, 2020-10-01) on the Williams Brook Gold property.
Samples collected at the Pepitos Gold Zone from
quartz veins (3) contain fine specks of Visible Gold
(VG) graded respectively 52.10 g/t Au and
95.5 g/t Ag, 16.15 g/t Au and 58.0 g/t Ag, and
15.05 g/t Au. Other high-grade gold results
received from the Pepitos Gold Zone include 13.10 g/t Au, 4.87 g/t
Au, 3.94 g/t Au and 3.23 g/t Au (see Figure 1). All significant
gold assays for the Pepitos Gold Zone and the O’Neil Gold Zone are
listed in the Appendices 1 and 2.
Highlights and Current
Status
- Pepitos assays grading : 52.1 g/t Au, 16.1 g/t Au, 15.0
g/t Au, 13.1 g/t Au, 4.87 g/t Au*
- O’Neil new assays grading : 32.8 g/t Au, 23.1 g/t Au,
16.9 g/t Au, 8.24 g/t Au, 6.14 g/t Au*
- Pervasive Silver-enrichment includes: 95.5 g/t Ag, 57.3
g/t Ag, 48.0 g/t Ag, 25.6 g/t Ag, 13.6 g/t Ag*
- The O’Neil Gold Trend (OGT) extending over 5 km has
never been drilled
- District-scale Airborne VTEM survey of the
Triple Fault Gold Project in progress (1,100km
completed)
- Assays are pending from the Lynx, Chubby, and
Moose Gold Zones
*Rock chip and grab samples are selective by nature and may not
represent the true grade or style of mineralization across the
property.
"We are very satisfied with the initial surface
sampling at Pepitos Gold Zone which confirmed and expanded the
continuous known high-grade gold system on the Williams Brook
property. Since the initial discovery of the O’Neil high-grade gold
system, the trenching and stripping program at Pepitos expanded the
surface high-grade gold mineralisation for more than 75 meters.
Furthermore, several high-grade silver veins were identified and
could add significant value to the project," stated Marcel
Robillard, President and CEO of Puma Exploration (PUMA TSX-V). "We
are excited to have received the additional assays results for the
Lynx Zone (see news release 2020-10-22) and the first set of assays
for the Chubby and Moose Zones,” added Marcel Robillard.
Figure 1: Pepitos Gold Zone Location and
Highligths
Figure 1 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c39ff7a4-10af-44d8-bd9c-424d5907b90f
The sampling program at the Pepitos Gold Zone
confirmed the presence of silver-rich, polymetallic quartz veins on
the Williams Brook property. These silver and polymetallic veins
are an integral and representative part of the geological model
interpreted to be at Williams Brook. Table 1 shows evidence of
silver enrichment and polymetallic veins at the Pepitos Gold
Zone.
Table 1: Selected Silver-Rich
Polymetallic Results*
Sample |
X |
Y |
Lithology |
Type |
Target/Area |
Au (g/t) |
Ag (g/t) |
Bi (ppm) |
Pb (ppm) |
Zn (ppm) |
B485170 |
660220 |
5259089 |
Quartz vein |
o/c |
Pepitos |
52.10 |
95.50 |
239 |
9630 |
4520 |
B485164 |
660217 |
5259090 |
Quartz vein |
o/c |
Pepitos |
16.15 |
58.00 |
115 |
9710 |
6330 |
B484980 |
660216 |
5259091 |
Quartz vein |
o/c |
Pepitos |
0.21 |
48.00 |
103 |
7990 |
2740 |
B484877 |
660215 |
5259093 |
Quartz vein |
o/c |
Pepitos |
0.01 |
25.60 |
70 |
2310 |
710 |
B484875 |
660213 |
5259094 |
Quartz vein |
o/c |
Pepitos |
0.47 |
21.20 |
57 |
941 |
417 |
B484981 |
660214 |
5259090 |
Rhyolite |
o/c |
Pepitos |
0.02 |
18.20 |
60 |
3390 |
998 |
B484992 |
660208 |
5259096 |
Quartz vein |
o/c |
Pepitos |
0.20 |
11.00 |
32 |
1890 |
560 |
B484979 |
660216 |
5259091 |
Quartz vein |
o/c |
Pepitos |
0.14 |
10.90 |
53 |
535 |
560 |
B484873 |
660212 |
5259095 |
Quartz vein |
o/c |
Pepitos |
0.22 |
9.33 |
16 |
269 |
90 |
*Rock chip and grab samples are selective by
nature and may not represent the true grade or style of
mineralization across the property.
The Williams Brook Gold property, which was the
focus of the 2020 Exploration Program, is part of the
district-scale Tripe Fault Gold Project, recently acquired in 2020
in New Brunswick, Canada. The 2020 Exploration Program included
primarily prospecting, mapping, trenching and stripping
concentrated on the O’Neil Gold Trend (see Figure 2) followed over
5 km in length.
Figure 2: The Williams Brook Property
O’Neil Gold Trend (OGT)
Figure 2 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/36dbb523-593b-4063-873a-e9a6f7f66b37
The latest important discoveries on the Williams
Brook Gold property are Visible Gold (VG) found at
the Lynx Gold Zone, with pervasive antimony and copper oxides
mineralization at the Lynx and Chubby Gold Zones. Lastly, the Moose
Zone represents the farthest mineralized zone (650 m), located
along strike of the O’Neil Showing (see Figure 3) hosting similar
altered rhyolite, quartz veins and major structures. Samples
results are still pending for the Lynx, Chubby and Moose areas and
will be released once available.
Figure 3: High-Grade Gold O’Neil
Showing
Figure 3 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1669d5b0-6808-49be-9d78-087f50077b82
O’NEIL GOLD TREND
(OGT)The O’Neil Gold Trend (OGT) is
represented as a pervasive altered and brecciated rhyolite unit
hosting significant gold showings and occurences followed by
trenching over a strike length of 5.0 km. The
favourable unit (rhyolite) is similar and parallel to the
structures hosting the “Williams 1” and “Williams 2” Gold Zones
with 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.
These trends are interpreted to be related to a
major rifting in the New Brunswick Geological events and could
represent a low sulphidation epithermal gold system. Along the OGT,
the width of the altered horizon varies from 5 to 250 meters with
an average apparent thickness of 150 meters. Numerous quartz veins,
quartz veinlets, stockworks, and breccias were observed mostly
perpendicular to the major trend and contain the gold
mineralization. The OGT has never been drilled and many gold zones
were discovered during the summer 2020 exploration campaign. Assays
are still pending for the Lynx, Chubby, and Moose Gold
Zones.
TRIPLE FAULT GOLD PROJECTThe
Triple Fault Gold Project includes three (3) properties named
Williams Brook Gold, Jonpol Gold, and Portage Lake, covering more
than 19,500 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 Gold 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 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.
APPENDIX 1 : SIGNIFICANT (> 0.1 G/T
AU) AT PEPITOS GOLD ZONE *
Sample |
Lithology |
Type |
Target/Area |
Au (g/t) |
Ag (g/t) |
Released |
B485170 |
Quartz vein |
Outcrop |
Pepitos |
52.10 |
95.50 |
New |
B485164 |
Quartz vein |
Outcrop |
Pepitos |
16.15 |
58.00 |
New |
B485154 |
Quartz vein |
Outcrop |
Pepitos |
15.05 |
0.21 |
New |
B484990 |
Quartz vein |
Outcrop |
Pepitos |
13.10 |
0.35 |
New |
B484993 |
Quartz vein |
Outcrop |
Pepitos |
3.94 |
0.11 |
New |
B485169 |
Quartz vein |
Outcrop |
Pepitos |
3.23 |
0.19 |
New |
B485152 |
Quartz vein |
Outcrop |
Pepitos |
0.59 |
0.25 |
New |
B484875 |
Quartz vein |
Outcrop |
Pepitos |
0.47 |
21.20 |
New |
B484994 |
Quartz vein |
Outcrop |
Pepitos |
0.37 |
0.22 |
New |
B484984 |
Quartz vein |
Outcrop |
Pepitos |
0.32 |
0.08 |
New |
B485165 |
Quartz vein |
Outcrop |
Pepitos |
0.31 |
1.88 |
New |
B485153 |
Quartz vein |
Outcrop |
Pepitos |
0.23 |
0.05 |
New |
B484873 |
Quartz vein |
Outcrop |
Pepitos |
0.22 |
9.33 |
New |
B485171 |
Quartz vein |
Outcrop |
Pepitos |
0.22 |
3.52 |
New |
B484980 |
Quartz vein |
Outcrop |
Pepitos |
0.21 |
48.00 |
New |
B484992 |
Quartz vein |
Outcrop |
Pepitos |
0.20 |
11.00 |
New |
B484979 |
Quartz vein |
Outcrop |
Pepitos |
0.14 |
10.90 |
New |
B484981 |
Rhyolite |
Outcrop |
Pepitos |
0.02 |
18.20 |
New |
B484877 |
Quartz vein |
Outcrop |
Pepitos |
0.01 |
25.60 |
New |
*Rock chip and grab samples are selective by
nature and may not represent the true grade or style of
mineralization across the property.
APPENDIX 2 : SIGNIFICANT (> 0.2 G/T
AU) AT O’NEIL GOLD ZONE *
Sample |
Lithology |
Type |
Target/Area |
Au (g/t) |
Ag (g/t) |
Released |
PA-20-017 |
Quartz vein |
Outcrop |
O'Neil |
128.00 |
21.70 |
01/10/20 |
A0753941 |
Quartz vein |
Outcrop |
O'Neil |
44.40 |
13.65 |
01/09/20 |
A0753906 |
Quartz vein |
Outcrop |
O'Neil |
38.80 |
2.01 |
01/09/20 |
A0753658 |
Quartz vein |
Outcrop |
O'Neil |
32.80 |
8.23 |
NEW |
B484704 |
Quartz vein |
Outcrop |
O'Neil |
23.10 |
0.67 |
NEW |
PA-20-016 |
Quartz vein |
Outcrop |
O'Neil |
21.00 |
6.40 |
01/09/20 |
A0753942 |
Quartz vein |
Outcrop |
O'Neil |
16.90 |
0.54 |
22/09/20 |
PA-20-020 |
Quartz vein |
Outcrop |
O'Neil |
15.95 |
1.40 |
01/09/20 |
PD20-10 |
Quartz vein |
Outcrop |
O'Neil |
8.24 |
1.78 |
01/09/20 |
A0753904 |
Quartz vein |
Outcrop |
O'Neil |
7.38 |
2.61 |
01/09/20 |
A0753701 |
Quartz vein |
Outcrop |
O'Neil |
6.87 |
1.33 |
NEW |
A0753905 |
Quartz vein |
Outcrop |
O'Neil |
6.63 |
0.65 |
01/09/20 |
A0753900 |
Quartz vein |
Outcrop |
O'Neil |
6.14 |
0.54 |
01/09/20 |
A0753897 |
Quartz vein |
Outcrop |
O'Neil |
5.55 |
0.48 |
01/09/20 |
B485013 |
Quartz vein |
Outcrop |
O'Neil |
4.87 |
0.71 |
NEW |
A0753472 |
Quartz vein |
Outcrop |
O'Neil |
3.78 |
0.95 |
NEW |
B484705 |
Quartz vein |
Outcrop |
O'Neil |
3.78 |
0.69 |
NEW |
A0753901 |
Quartz vein |
Outcrop |
O'Neil |
3.57 |
0.15 |
01/09/20 |
B485091 |
Rhyolite |
Outcrop |
O'Neil |
2.99 |
0.84 |
NEW |
A0753898 |
Quartz vein |
Outcrop |
O'Neil |
2.94 |
1.34 |
01/09/20 |
A0753651 |
Quartz vein |
Outcrop |
O'Neil |
2.22 |
4.53 |
22/09/20 |
A0753702 |
Quartz vein |
Outcrop |
O'Neil |
2.04 |
0.20 |
NEW |
B484746 |
Rhyolite |
Outcrop |
O'Neil |
1.86 |
0.31 |
NEW |
B484703 |
Quartz vein |
Outcrop |
O'Neil |
1.80 |
0.14 |
NEW |
B485077 |
Quartz vein |
Outcrop |
O'Neil |
1.76 |
0.45 |
NEW |
B484731 |
Rhyolite |
Outcrop |
O'Neil |
1.59 |
1.15 |
NEW |
B484749 |
Rhyolite |
Outcrop |
O'Neil |
1.49 |
0.09 |
NEW |
A0753947 |
Quartz vein |
Outcrop |
O'Neil |
1.37 |
0.15 |
NEW |
A0753903 |
Quartz vein |
Outcrop |
O'Neil |
1.14 |
0.09 |
01/09/20 |
B484702 |
Quartz vein |
Outcrop |
O'Neil |
1.05 |
0.04 |
NEW |
A0753654 |
Quartz vein |
Outcrop |
O'Neil |
0.97 |
0.10 |
NEW |
B484735 |
Rhyolite |
Outcrop |
O'Neil |
0.79 |
0.48 |
NEW |
B485071 |
Quartz vein |
Outcrop |
O'Neil |
0.72 |
0.56 |
NEW |
B485042 |
Rhyolite |
Outcrop |
O'Neil |
0.67 |
0.67 |
NEW |
A0753703 |
Quartz vein |
Outcrop |
O'Neil |
0.65 |
0.07 |
NEW |
B484736 |
Rhyolite |
Outcrop |
O'Neil |
0.60 |
0.77 |
NEW |
B485065 |
Quartz vein |
Outcrop |
O'Neil |
0.51 |
1.94 |
NEW |
A0753929 |
Rhyolite |
Outcrop |
O'Neil |
0.46 |
0.06 |
NEW |
B484732 |
Rhyolite |
Outcrop |
O'Neil |
0.39 |
0.20 |
NEW |
B485057 |
Quartz vein |
Outcrop |
O'Neil |
0.37 |
0.08 |
NEW |
B485062 |
Quartz vein |
Outcrop |
O'Neil |
0.37 |
1.02 |
NEW |
B484701 |
Quartz vein |
Outcrop |
O'Neil |
0.37 |
0.15 |
NEW |
A0753928 |
Quartz vein |
Outcrop |
O'Neil |
0.34 |
0.05 |
NEW |
B484730 |
Rhyolite |
Outcrop |
O'Neil |
0.29 |
0.13 |
NEW |
B485094 |
Rhyolite |
Outcrop |
O'Neil |
0.29 |
1.57 |
NEW |
A0753988 |
Rhyolite |
Outcrop |
O'Neil |
0.27 |
0.23 |
NEW |
B485043 |
Rhyolite |
Outcrop |
O'Neil |
0.27 |
0.08 |
NEW |
A0753782 |
Rhyolite |
Outcrop |
O'Neil |
0.25 |
0.10 |
NEW |
A0753459 |
Quartz vein |
Outcrop |
O'Neil |
0.25 |
0.16 |
NEW |
B484706 |
Quartz vein |
Outcrop |
O'Neil |
0.25 |
0.07 |
NEW |
*Rock chip and grab samples are selective by
nature and may not represent the true grade or style of
mineralization across the property.
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.comArness Cordick, Communications
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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