Puma Extends Mineralised Zone With High-Grade Samples up to 46,8 g/t Au, Increasing Gold Potential at the Williams Brook Gold Property
November 17 2021 - 7:00AM
Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is
pleased to announce the discovery of nine (9) new gold-bearing
quartz veins along the O’Neil Gold Trend and reports surface
samples grading up to 46.8 g/t Au, extending the gold mineralised
corridor over a continuous distance of 275 meters at its Williams
Brook Gold Project located in New Brunswick, an emerging new gold
district of Atlantic, Canada.
The ongoing systematical stripping, mapping and
sampling program along the OGT permitted to identify a swarm of 1-5
meters thick quartz veins and veinlets extending 275 meters
northeast of the Lynx Gold Zone where DDH
WB21-02 returned 5.55 g/t Au over 50.15 meters
(see Figure 1). Following these exciting new
discoveries, Puma contracted three (3) excavators, two (3) trucks
and one (1) bulldozer to keep extending the kilometric altered and
gold-mineralised corridor along the highly potential O'Neil Gold
Trend in preparation for the upcoming 10,000 meters
drilling program (see Figure 2 and Figure
4). Continuous flow of results is expected to be
generated from the work in progress.
Furthermore, the company received the assay
results from additional samples collected at surface in areas yet
untested by drilling. Values as high as 46.8 g/t Au, 31.0
g/t Au, 21.3 g/t Au, 19.2 g/t Au, 18.9 g/t Au, 18.8 g/t
Au, and 11.4 g/t Au are
reported (see Figure 3). In addition, a trend of
samples with high silver values were identified at Chubby and
Pepitos. These types of silver values are often associated with the
gold and characterise low epithermal system.
The mineralised zone is related to the contact
between rhyolite / sediment rocks oriented ~45° with a
moderate/shallow dipping to the NW and forms different high grade
(>10 g/t Au) to lower grade (0.3 g/t Au)
clusters perpendicular and parallel to the favorable contact. A
pervasive limonite alteration with disseminated sulphides also
characterises the gold-bearing corridor for more than 700
meters from the O’Neil to the Moose gold occurences along
the O’Neil Gold Trend (see Figure 4).
Those newly defined high-grade gold veins and
veinlets, more likely represent multiple cores of high-grade gold
enrichment networks (see Figure 5). These high grade cores become
first priority targets for the upcoming 10,000 meters
drilling program and could generate drill intersections
similar to the discovery hole WB21-02 with 5.55 g/t Au over
50.5m (see PR-21-09-15) implemented to test similar high
grade gold surface samples (see PR21-03-15).
O’NEIL GOLD TREND
(OGT)The O’Neil Gold Trend (OGT) is a
pervasive altered and brecciated rhyolite unit hosting significant
gold showings and occurrences followed by trenching and drilling
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
where previous operator drilled in 2008, 54.2 g/t Au over 2.8
meters and 1 g/t Au over 23 meters.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 rhyolite varies from 5 to
250 meters with an average apparent thickness of 150 meters.
The core-oriented maiden drill campaign was
completed on August 20, 2021. It consisted of 18 holes for a total
of 2,360 meters that tested a 200-meter segment of the
700-meter-long O’Neil Gold Trend (OGT). The assay results for the
twelve (12) first holes are released and all holes intersected
significant gold mineralisation including the discovery hole
WB21-02 that cut 5.55 g/t Au over 50.15 meters
from surface, including 9.88 g/t Au over 8.60
meters and 46.94 g/t Au over 3.85
meters.
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). 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.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.
Figure 1: The Gold Potential is
Confirmed over 700m Strike Length in the OGTis available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/136b2825-863a-4072-99a0-3426bbb95abeFigure
2: Current Stripping Activities at the Chubby-Moose Gold
Areasis available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/fd833194-2062-497d-9485-6d215213023d
Figure 3: Additional High-Grade Gold
Samples Found at the Chubby Gold Area is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/6028b751-d5cb-49fd-807b-d84b8c5a2a1d
Figure 4: Current Stripping at
Chubby-Moose Gold Areas is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/16e6c6f4-faef-45b8-b579-52eda81745f5
Figure 5: Extensive Network of Veins
Discovered Between the Chubby and Moose Gold Zonesis
available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/303308ff-ac2f-498b-a25e-57d78aa6bb51
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