Puma Exploration Discovers More Quartz Veins and Visible Gold at Lynx on the Williams Brook Gold Property in New Brunswick, C...
June 17 2021 - 9:44AM
Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is
pleased to report the discovery of additional quartz veins and
veinlets at surface at the Lynx Gold Zone. Visible Gold (VG) has
been observed in the quartz veins (Figure 1). The mineralisation is
hosted in a strongly altered rhyolite at the contact with
sediments.
Figure 1: Additional Visible Gold
Discovered at Lynx Gold Zone is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/737ed284-dc71-40f6-b5bd-655a34bb3944
Currently, stripping is in progress at Lynx with
two (2) excavators allowing the cleaning and mapping of the initial
discovery and expanding the overall size of the gold zone at
surface (Figure 2). “Puma's systematic exploration program advances
as expected and continues to deliver exceptional results.” Notes
Marcel Robillard, President and CEO of Puma Exploration.
“The Company will mobilize the drill rig on site
shortly to initiate its first drilling program at the Williams
Brook Gold Property.” Added Marcel Robillard
Figure 2: Current Stripping at Lynx Gold
Zone in Preparation for Drilling Operations is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/6c8bc1c3-c809-4473-8bf6-27d0bf8a0bbb
Highlights :
- More visible gold (VG) with sulphides (Sp-Ga-Cpy) was found at
surface in quartz veins.
- Many more quartz veins were discovered, so far, on Lynx. Those
veins are part of a network of crisscrossing veins and
veinlets.
- The Lynx Gold Zone is now exposed 90 meters long by 25 meters
wide and is open in all directions.
- The structural characterization by Stefan Kruse of Terrane
Geoscience identified two main veins sets hosting the
mineralization (Figure 3).
- The contact between the rhyolite and the sediments appears to
be the main control of the gold-bearing quartz veins.
- The drill pads are prepared and ready for the drilling
operations.
Figure 3: Two Main Veins Sets Hosting the
Gold Mineralisation from O’Neil to Lynx is available
at
https://www.globenewswire.com/NewsRoom/AttachmentNg/6ffd1b97-f6cc-4565-ad4e-9c0737ca90b6
The 2021 summer field exploration program is
targeting the Williams Brook Gold property (see Figure 4) with the
focus on the recent major discovery named O’Neil Gold Trend (OGT)
followed by trenching over 700m with bonanza
grades up to 241.0 g/t Au (see news released
2021-03-31).
O’Neil Gold Trend (OGT)
The O’Neil Gold Trend (OGT) is
a pervasive altered and brecciated rhyolite unit hosting
significant gold showings and occurences followed by trenching over
a strike length of 700 meters. The geophysical
signature of the OGT is expressed over 7km. 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.
Figure 4: Williams Brook Gold Property Main
Targets Areas is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5d6d5051-91af-4512-8b8d-70ae98da9bd1
High-Grade Selected Grab Samples Assays
on the Prolific O’Neil Gold Trend (OGT)*:
O’Neil Gold Zone (VG**): |
128.5 g/t Au, 44.4 g/t Au, 38.8 g/t Au,
32.8 g/t Au, 23.1 g/t Au |
Pepitos Gold Zone (VG**): |
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 |
Lynx Gold Zone (VG**): |
241.0 g/t Au, 79.8 g/t Au, 74.2 g/t Au, 63.5 g/t Au, 58.4
g/t Au |
Chubby Zone Area: |
3.5 g/t Au, 1.2 g/t Au, 1.2 g/t Au, 0.45 g/t
Au |
Moose Gold Zone: |
2.4 g/t Au, 2.1 g/t Au, 1.3 g/t Au, 1.1 g/t
Au |
* Selected rock grab samples are selective by
nature and may not represent the true grade or style ** VG: Visible
Gold
QUALIFIED PERSONS
Dominique 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). Other
screen sizes available. Duplicate 50g assay on screen undersize.
Assay of entire oversize fraction.
ABOUT PUMA EXPLORATION
Puma 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.explorationpuma.com for
further information on Puma.Marcel Robillard, President, (418)
750-8510; president@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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