Puma Exploration Inc. (TSXV: PUMA, OTC: PUXPF) (the "Company" or
"Puma") is pleased to announce the launch of its 2022 Exploration
Program at its Flagship Williams Brook Gold Property located in New
Brunswick, Atlantic-Canada. The 2022 program (see December 17,
2021, News Release) includes an initial 10,000 metres diamond
drilling program that will target the most prospective areas
identified to date of the O'Neil Gold Trend ("OGT").
The drilling program, expected to begin on
January 17, will target the most promising gold zones of the OGT
discovered in 2021 through surface exploration work (see Figure 1).
The inaugural 2,300 metres of drilling at the OGT's Lynx Zone
returned 5.50 g/t Au over 50.15 m in hole WB21-02
(see Sept.15, 2021, News Release). Building on that success, the
2022 drilling at the OGT will focus on the currently excavated,
mapped, and sampled 750-metres trend to maximize success.
Last fall, 750 grab samples were collected along
the favourable rhyolite/sediment contact to confirm the continuity
of gold mineralization at surface along the O'Neil Gold Trend (see
Dec.8, 2021, News Release). Results from 50 grab samples received
to date include 51.70 g/t Au, 28.70 g/t Au, 27.20 g/t Au,
23.10 g/t Au, 18.50 g/t Au* (see Table 1) and show that
high-grade gold mineralization is both significant and appears
continuous along the OGT. The first target of the 2022 10,000
metres drilling program will be an area northeast of the Lynx Gold
Zone, where new grab samples returned up to 51.70 g/t
Au*.
Table 1: Selected High-Grade Gold
Results (over 1g/t Au) from Reported Grab Samples
|
Au-AA24 |
Au-GRA22 |
Sample ID |
Au g/t |
Au g/t |
D248073 |
6.41 |
|
D248088 |
3.89 |
|
D248089 |
4.11 |
|
D248090 |
>10.0 |
51.70 |
D248091 |
8.95 |
|
D248092 |
>10.0 |
18.55 |
D248093 |
5.05 |
|
D248094 |
>10.0 |
28.70 |
D248095 |
1.30 |
|
D248096 |
5.18 |
|
D248007 |
>10.0 |
23.10 |
D248013 |
4.55 |
|
D247671 |
6.64 |
|
D247672 |
1.88 |
|
D247673 |
7.91 |
|
D247674 |
3.55 |
|
D247675 |
1.76 |
|
D247676 |
5.31 |
|
D247677 |
>10.0 |
27.2 |
*The reader is cautioned that grab samples are
selective by nature and may not represent the true metal content of
the mineralized zone.
"Our technical team has been very systematic in
its approach to exploration over the last 18 months. The knowledge
we acquired led to a very successful inaugural drilling program at
the Lynx area of the O'Neil Gold Trend ("OGT"). As we embark on
drilling this follow-up 10,000 metres at the OGT, the compilation
of grab sample results, geophysical data, geology, and structural
mapping will enable us to optimize our targets and maximize our
chance of success. 2022 will be a transformational year for Puma,
and investors can expect regular news as we aggressively develop
the Williams Brook Gold Project." commented Marcel Robillard,
President & CEO of Puma Exploration.
UPCOMING WEBINARPuma is
providing an opportunity for shareholders and other interested
parties to participate in a webinar on Monday, January 17,
2022, at 4:00 pm EST. Marcel Robillard, President and CEO,
will provide an overview of the 2022 Exploration Program and answer
questions.
Click on the following link
https://zoom.us/webinar/register/WN_ExOOMMeHQZK7N_6d0rvPjg to
register. After registering, you will receive a confirmation email
containing information about joining the webinar.
CHANGES IN AUDIT COMMITTEEThe
Company announces that Michel Fontaine, an independent director,
has replaced Marcel Robillard to join Laura Arenada and Richard
Thibault on the Audit Committee.
INVESTOR RELATIONS CONTRACTPuma
is pleased to announce that it has retained the services of MI3
Communications Inc. ("MI3"), a Montreal-based financial
communications company to spearhead Puma's investor relations. MI3
will provide various services: lead market awareness campaigns and
facilitate meetings with new investors (institutional, brokers,
pro-traders, mining analysts, and active high net worth
investors).
Under the terms of the engagement, Puma has
agreed to pay MI3 C$5,000/month for an initial 12-months term
beginning December 1, 2021, and has granted MI3 100,000 Stock
Options exercisable at C$0.40 per common share until December 1,
2023 (see Dec. 1, 2021, News Release) The MI3 agreement and all
stock options granted are subject to TSXV regulatory approval.
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.
ON-SITE QUALITY ASSURANCE/QUALITY
CONTROL ("QA/QC") MEASURESGrab samples were bagged, sealed
and sent to the facility of ALS CHEMEX in Moncton, New Brunswick,
where each sample was dried, crushed, and pulped before being fire
assayed (Au-ICP21). The remaining coarse reject portions of the
samples remain in storage for further work or verification as
needed. As part of its QA/QC program, the Company inserts external
gold standards (low to high grade) and blanks for every batch of
surface samples. All samples over 10 g/t gold or with abundant
visible gold are analyzed using gravity finish (Au-GRA22). Check
assays are routinely performed for samples with visible gold to
ascertain the gold content of the mineralization zone.
COVID-19 PRECAUTIONSPuma has
developed and implemented precautions and procedures compliant with
Québec and New Brunswick's health guidelines. Strict protocols are
in place to ensure the safety of all staff, thereby reducing the
potential for community contact and spreading of the virus.
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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1effad9e-c472-49ba-a806-8162be454cfa
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