Puma Exploration Inc. (TSXV: PUMA, OTC: PUXP) (the "Company" or
"Puma") is pleased to share its fully-funded exploration strategy
and program for 2022. The Company successfully closed on December
17, 2021, a brokered private placement for total gross proceeds of
C$5,000,000.
Figure 1: 2022 Exploration Strategy and
Planned Programs is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/32ac6395-298a-4ade-a06a-6402ddf3960f
The 2022 exploration program will strategically
target three (3) project areas, each with specific tasks and
objectives (see Figure 1). The program may be adjusted as the assay
results from over 750 samples collected during the Fall 2021
surface exploration program, including the surface grab samples
with visible gold ("VG") collected in the Chubby-Moose area, are
received in the coming weeks.
The final interpretation of the VTEM, MAG and
Radiometric heliborne detailed surveys, drilling and mapping data,
and the compilation of a new 3D geological model will further guide
the 2022 exploration program.
O'NEIL GOLD TREND DRILLING
PROGRAMPuma's priority for 2022 is launching a 10,000
metres drilling program in January 2022 that will target the O'Neil
Gold trend (OGT). Trenching, stripping and drilling at the OGT in
2021confirmed continuous gold mineralization for over 750 metres
with locally, very high-grade gold content. The initial 2022
drilling program will target three main areas of the OGT (see
Figure 2).
Figure 2: First Priority Target Areas of
the O'Neil Gold Trend to be Drilled is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3c8cc056-7245-4e8a-96fd-69566d7e452b
The first three (3) priority areas include:
A) The newly discovered quartz veins system with
visible gold (VG) located between the Chubby and Moose gold zones
(see December 8, 2021, News Release);B) The area west of holes
WB21-16 and WB21-17 where grab samples with VG were collected this
fall;C) The western extent of hole WB21-02 where 5.50 g/t Au over
50.15 m was intersected; andD) The Petitos-O'Neil gold zones
located at the southern end of the OGT
WILLIAMS BROOK PROPERTY-SCALE
EXPLORATION PROGRAMFollowing current interpretation and
modelization, the summer 2022 exploration program will include
property-scale exploration targeting the most prospective areas
identified by the 2021 exploration programs and surveys.
Property-scale, VTEM, Mag, and Radiometric surveys over the entire
Williams Brook Property (see Figure 3) in addition to surface
exploration and highlighted several prospective areas within the
20,000 hectares land package.
Figure 3: First Priority Target Areas
Over the Entire Williams Brook Property is available
at
https://www.globenewswire.com/NewsRoom/AttachmentNg/aad0308e-2954-49ee-a3a1-49e77730f456
During the first quarter of 2022, Puma will
generate more advanced exploration targets, including trenching and
stripping (see Figure 3). To date, three (3) priority areas have
been identified:
- The entire 7km length of the O'Neil
Gold trend;
- The Williams 1 and Williams 2 gold
trends; and,
- The Ramsay Brook area.
The objective of the summer exploration program
at the property-scale will be to identify promising targets for an
additional fully-funded 5,000 metres drilling program to be
launched in the fall.
WILLIAMS BROOK CAMP-SCALE EXPLORATION
PROGRAMFollowing the current compilation work of Puma's
entire landholdings, the Company will launch a Camp-Scale
Exploration program (see Figure 4) in the summer of 2022 to cover
the Williams Brook South, Jonpol and the Portage properties. The
regional surface exploration program will include prospecting,
mapping and trenching. The targets will be generated from the
regional detailed heliborne geophysical survey done in 2021, the
compilation of soil anomalies and the knowledge acquired over the
last two years modelling the O'Neil Gold Trend discovery.
Figure 4: Camp-Scale Exploration to be
Conducted in 2022 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4138136a-bc61-4e02-9a5e-1ac31a5e12d3
10% of the current $5M exploration budget is
allocated to camp-scale exploration. The main objective of this
program is to locate the next gold trend on those properties for
the 2023 exploration program.
The proposed programs and exploration plans are
based on current information and strategy and may change without
notice following new results, acquisitions or developments. The
Company will keep shareholders informed with regular new releases
and communication.
QUALIFIED PERSONDominique
Gagné, PGeo, a qualified person as defined by Canadian National
Instrument 43-101 standards, has reviewed and approved the
geological information reported in this news release.
ABOUT PUMA EXPLORATIONPuma
Exploration is a Canadian-based mineral exploration company with
precious metals projects in early to advanced stages located in the
Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. The
Company is committed to its DEAR strategy
(Development, Exploration, Acquisition and Royalties) to generate
maximum value for shareholders with low share-dilution.
Connect with us on Facebook / Twitter /
LinkedIn
Visit www.explorationpuma.com for more
information or contact:
Marcel Robillard,President,
(418) 750-8510;president@explorationpuma.com
Mia Boiridy,Head of Investor
Relations and Corporate Development, (250) 575-3305;
mboiridy@explorationpuma.com.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept responsibility for the
adequacy or accuracy of this release.
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.
Puma Exploration (TSXV:PUMA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Puma Exploration (TSXV:PUMA)
Historical Stock Chart
From Jul 2023 to Jul 2024