Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or
"Puma") is pleased to announce the results from its 2022 drilling
program at its 100%-owned Williams Brook Gold Project in Northern
New Brunswick. Every hole intersected gold-bearing quartz veins
with some returning additional high-grade intersections such as
14.90 g/t Au over 3.60 m in hole WB22-96 and
10.96 g/t Au over 3.75 m in hole WB22-91.
High-grade intersections are typically included within a wider gold
intersection such as 2.17 g/t Au over 25.10 m in WB22-96 and 2.00
g/t over 21.95 m in WB22-94 (see Figure 1).
FIGURE 1: High-grade gold drilling
intersections and surface grab samples at the Lynx Gold Zone
(latest assay results in
yellow)
https://www.globenewswire.com/NewsRoom/AttachmentNg/9514a172-2504-4f30-bc24-d1477170ab74
The entire dataset collected from the 10,000
metres program is currently being interpreted and modelized to
define the best drilling targets for the upcoming drill program at
the Lynx Gold Zone. So far, three (3) areas show high-grade gold
mineralization. They are already confirmed as first priority
drilling targets to verify the depth extension and the continuity
of the mineralization found near the surface (see black circles in
Figure 1).
The Lynx Gold zone is open at depth and in all
directions. It has only been drilled to a maximum depth of 75
metres vertical. All drilling assays and the gold-bearing
structural analysis of the veins and faults will be compiled before
resuming drilling to follow up on the highest gold areas confirmed
in the 2022 Winter program. An external consultant is currently
reviewing all the data, and the Company is awaiting the final
report. More information will be provided on drill targets once
received.
Multiple quartz veins/veinlets and stockworks
were intersected in the drilling, and most were associated with
intensive and pervasive limonite alteration. The 3D modelling of
the high-potential supergene gold enrichment (limonite alteration)
is illustrated in Figure 2. The drilling has confirmed, so far, the
supergene gold enrichment over a strike length of 750 metres, 75
metres wide and to a depth of 100 metres and is open in all
directions.
FIGURE 2: Lynx Gold Zone supergene gold
enrichment 3D model
https://www.globenewswire.com/NewsRoom/AttachmentNg/3f97599e-e4fc-41e8-8b75-00f538430589
Figure 2 also shows the preliminary high-grade
gold zones, which show continuity from the surface and are open at
depth. These high-grade lineaments are already confirmed as the
first priority drilling target for the upcoming drilling program.
Table 1 represents selected high-grade gold intersections in the
Lynx Gold Zone.
TABLE 1. Highlights of high-grade gold
assays in the Lynx Gold Zone
Hole ID |
From (m) |
To (m) |
Length* (m) |
Au (g/t) |
Metal Factor |
WB21-01 |
4.00 |
6.10 |
2.10 |
12.71 |
27 |
WB21-02 |
7.20 |
10.20 |
3.00 |
8.33 |
25 |
WB21-02 |
13.70 |
15.80 |
2.10 |
28.52 |
60 |
WB21-02 |
45.60 |
49,45 |
3,85 |
46.94 |
181 |
WB21-03 |
55.90 |
58.10 |
2.20 |
7.81 |
17 |
WB21-05 |
26.00 |
28.00 |
2.00 |
12.64 |
25 |
WB21-06 |
46.80 |
49.70 |
2.90 |
16.92 |
49 |
WB21-09 |
16.30 |
18.00 |
1.70 |
15.52 |
26 |
WB21-12 |
28.60 |
32.40 |
3.80 |
6.93 |
26 |
WB21-16 |
80.00 |
88.35 |
8.35 |
5.11 |
43 |
WB21-17 |
107.00 |
111.65 |
4.65 |
4.85 |
23 |
WB22-25 |
2.00 |
5.00 |
3.00 |
34.93 |
105 |
WB22-26 |
25.50 |
27.10 |
1.60 |
14.06 |
22 |
WB22-35 |
14.90 |
17.50 |
2.60 |
5.83 |
15 |
WB22-36 |
3.80 |
7.00 |
3.20 |
22.28 |
71 |
WB22-36 |
16.40 |
18.00 |
1.60 |
6.70 |
11 |
WB22-39 |
26.50 |
29.00 |
2.50 |
11.71 |
29 |
WB22-58 |
11.70 |
12.90 |
1.20 |
16.85 |
20 |
WB22-60 |
40.00 |
40.60 |
0.60 |
21.00 |
13 |
WB22-66 |
32.00 |
34.00 |
2.00 |
10.70 |
21 |
WB22-66 |
66.50 |
68.35 |
1.85 |
51.73 |
96 |
WB22-88 |
58.00 |
58.20 |
0.20 |
47.20 |
9 |
WB22-91 |
7.00 |
10.75 |
3.75 |
10.96 |
14 |
WB22-94 |
52.80 |
53.55 |
0.75 |
19.10 |
14 |
WB22-94 |
59.20 |
59.80 |
0.60 |
14.19 |
12 |
WB22-96 |
56.90 |
60.50 |
3.60 |
14.90 |
54 |
WB22-101 |
21.45 |
22.00 |
0.55 |
9.09 |
5 |
*Stated lengths in metres are downhole core
lengths and not true widths. True widths will be calculated once
more drilling confirms the geometry of the quartz-sulphide system.
The metal factor is calculated from the gold grade multiplied by
the length in meters.
2021-2022 DRILLING PROGRAM AT LYNX GOLD
ZONE
A total of 113 shallow holes were drilled along
the Lynx Gold Zone, which is part of the 7 km long O’Neil Gold
Trend (“OGT”) in 2021 and 2022. The NE-SW oriented Lynx Gold Zone
was exposed on the surface by stripping over a strike length of 750
metres, and it is still open at both ends. Systematic, close-spaced
drilling was undertaken to identify high-grade gold veins and
define their spatial attitude. A few stratigraphic holes (1,300
metres) were also completed to intersect the hanging wall
sediments, the rhyolite and the footwall volcano-sediments to
better define the geological environment that contains the gold
mineralization.
All holes hit the gold-bearing
hydrothermal/orogenic system characterized by a supergene
alteration (limonite, silica, sulphides) and finely disseminated
free gold. The drilling program also confirmed that the gold grade
from surface sampling is often coincident with drilling grades.
Marcel Robillard, President and CEO of Puma,
commented, "Our 2022 10,000 m drilling program at the Lynx Gold
Zone was a great success and fulfilled all of our objectives. It
confirmed the presence of a large and fertile hydrothermal/orogenic
system at shallow depth and its continuity along strike. The
program also allowed us to refine our geological model. Some of the
drilling was specifically undertaken to better understand the
stratigraphy and gain some insights on the characteristics of gold
mineralization at the O’Neil Gold Trend. Over the coming weeks, the
interpretation of these drilling results, combined with the ongoing
surface exploration work on the property, will orient our next
exploration program.”
“The high-grade gold intersections in holes
WB22-94 and WB22-96 are of particular interest as they confirm the
extension of an enriched sector of the Lynx Gold Zone. This central
sector has now been recognized over an area covering 10,000 square
metres. Drilling confirmed that this fertile area contains multiple
high-grade gold veins open at depth along a “Gold Enrichment”
controlled by the intersection of a NW striking fault cutting the
favourable sediment-rhyolite contact. Two (2) more gold enrichment
sectors with a similar attitude have also been identified at the
Lynx Gold Zone,” added Marcel Robillard.
TABLE 2. Coordinates of reported drill
holes in this release
Hole ID |
EastingUTM Nad83 |
NorthingUTM Nad83 |
Azimuth (N) |
Angle (-) |
Length* (m) |
WB22-67 |
660 234 |
5 259 194 |
155 |
65 |
70 |
WB22-68 |
660 294 |
5 259 423 |
155 |
80 |
126 |
WB22-69 |
660 211 |
5 259 130 |
170 |
45 |
94 |
WB22-70 |
660 314 |
5 259 387 |
155 |
45 |
114 |
WB22-71 |
660 211 |
5 259 131 |
170 |
65 |
107 |
WB22-72 |
660 326 |
5 259 359 |
155 |
45 |
89 |
WB22-73 |
660 336 |
5 259 402 |
155 |
45 |
134 |
WB22-74 |
660 210 |
5 259 129 |
200 |
45 |
117 |
WB22-75 |
660 335 |
5 259 402 |
155 |
65 |
26 |
WB22-76 |
660 272 |
5 259 399 |
155 |
65 |
116 |
WB22-77 |
660 257 |
5 259 435 |
155 |
65 |
108 |
WB22-78 |
660 217 |
5 259 138 |
80 |
45 |
107 |
WB22-79 |
660 253 |
5 259 390 |
155 |
65 |
111 |
WB22-80 |
660 237 |
5 259 383 |
155 |
65 |
150 |
WB22-81 |
660 217 |
5 259 137 |
110 |
45 |
106 |
WB22-82 |
660 253 |
5 259 200 |
155 |
65 |
63 |
WB22-83 |
660 308 |
5 259 428 |
155 |
45 |
119 |
WB22-84 |
660 250 |
5 259 268 |
155 |
45 |
91 |
WB22-85 |
660 288 |
5 259 477 |
155 |
45 |
149 |
WB22-86 |
660 284 |
5 259 326 |
155 |
45 |
81 |
WB22-87 |
660 268 |
5 259 221 |
155 |
45 |
112 |
WB22-88 |
660 283 |
5 259 327 |
155 |
65 |
112 |
WB22-89 |
660 268 |
5 259 222 |
155 |
65 |
123 |
WB22-90 |
660 280 |
5 259 193 |
155 |
45 |
104 |
WB22-91 |
660 281 |
5 259 381 |
155 |
45 |
110 |
WB22-92 |
660 219 |
5 259 180 |
155 |
45 |
99 |
WB22-93 |
660 296 |
5 259 344 |
155 |
45 |
104 |
WB22-94 |
660 226 |
5 259 353 |
155 |
65 |
147 |
WB22-95 |
660 296 |
5 259 344 |
155 |
65 |
65 |
WB22-96 |
660 226 |
5 259 354 |
155 |
80 |
116 |
WB22-97 |
660 311 |
5 259 307 |
155 |
45 |
82 |
WB22-98 |
660 226 |
5 259 352 |
155 |
45 |
103 |
WB22-99 |
660 378 |
5 259 579 |
155 |
45 |
97 |
WB22-100 |
660 310 |
5 259 308 |
155 |
65 |
74 |
WB22-101 |
660 378 |
5 259 580 |
155 |
65 |
56 |
WB22-102 |
660 339 |
5 259 332 |
155 |
45 |
73 |
WB22-103 |
660 397 |
5 259 537 |
155 |
45 |
91 |
WB22-104 |
660 339 |
5 259 332 |
155 |
65 |
74 |
WB22-105 |
660 397 |
5 259 538 |
155 |
65 |
86 |
WB22-106 |
660 287 |
5 259 292 |
155 |
45 |
69 |
WB22-107 |
660 413 |
5 259 589 |
155 |
45 |
109 |
WB22-108 |
660 376 |
5 259 379 |
200 |
45 |
82 |
WB22-109 |
660 412 |
5 259 589 |
155 |
65 |
83 |
WB22-110 |
660 351 |
5 259 486 |
155 |
65 |
54 |
WB22-111 |
660 379 |
5 259 493 |
155 |
45 |
67 |
WB22-112 |
660 362 |
5 259 428 |
235 |
45 |
77 |
WB22-113 |
660 449 |
5 259 635 |
155 |
45 |
103 |
*Stated lengths in metres are downhole core
lengths and not true widths. True widths will be calculated once
more drilling confirms the geometry of the quartz-sulphide
system.
TABLE 3. Additional significant assay
results in this release
Hole ID |
From (m) |
To (m) |
Length* (m) |
Au (g/t) |
WB22-70 |
4.35 |
4.70 |
0.35 |
0.59 |
WB22-71 |
11.80 |
12.70 |
0.90 |
2.57 |
WB22-72 |
30.25 |
30.90 |
0.65 |
1.93 |
WB22-75 |
4.00 |
5.80 |
1.80 |
0.92 |
incl. |
4.40 |
4.85 |
0.45 |
2.43 |
WB22-77 |
47.75 |
64.00 |
16.25 |
0.15 |
incl. |
58.20 |
64.00 |
5.80 |
0.34 |
incl. |
58.20 |
58.60 |
0.40 |
2.69 |
WB22-79 |
29.60 |
32.75 |
3.15 |
1.11 |
incl. |
29.60 |
30.15 |
0.55 |
1.77 |
incl. |
32.45 |
32.75 |
0.30 |
5.19 |
WB22-82 |
36.40 |
37.30 |
0.90 |
0.32 |
WB22-83 |
9.95 |
10.40 |
0.45 |
0.14 |
and |
93.30 |
93.80 |
0.50 |
0.72 |
and |
107.80 |
111.90 |
4.10 |
0.60 |
incl. |
108.80 |
111.10 |
2.30 |
0.91 |
incl. |
110.60 |
111.10 |
0.50 |
1.70 |
WB22-84 |
84.80 |
85.40 |
0.60 |
2.18 |
WB22-85 |
131.50 |
132.50 |
1.00 |
0.47 |
WB22-86 |
17.50 |
19.00 |
1.50 |
2.30 |
and |
31.95 |
32.20 |
0.25 |
0.43 |
and |
47.70 |
48.70 |
1.00 |
0.27 |
and |
59.00 |
60.00 |
1.00 |
0.42 |
WB22-87 |
14.50 |
15.70 |
1.20 |
0.72 |
incl. |
14.50 |
14.80 |
0.30 |
2.72 |
WB22-88 |
13.60 |
14.20 |
0.60 |
1.26 |
and |
50.70 |
59.90 |
9.20 |
1.20 |
incl. |
57.20 |
59.90 |
2.70 |
4.00 |
incl. |
58.00 |
58.20 |
0.20 |
47.20 |
WB22-90 |
5.60 |
11.70 |
6.10 |
1.28 |
and |
5.60 |
6.75 |
1.15 |
4.22 |
and |
10.80 |
11.70 |
0.90 |
3.25 |
WB22-91 |
6.55 |
12.00 |
5.45 |
7.60 |
incl. |
7.00 |
10.75 |
3.75 |
10.96 |
incl. |
7.00 |
8.65 |
1.65 |
23.24 |
and |
36.55 |
37.25 |
0.70 |
0.16 |
WB22-92 |
15.00 |
15.50 |
0.50 |
0.20 |
incl. |
61.45 |
62.50 |
1.05 |
2.87 |
incl. |
62.05 |
62.50 |
0.45 |
6.15 |
WB22-93 |
33.95 |
50.00 |
16.05 |
0.47 |
incl. |
33.95 |
36.75 |
2.80 |
1.25 |
and |
45.70 |
46.70 |
1.00 |
3.06 |
WB22-94 |
52.80 |
81.70 |
28.90 |
1.52 |
incl. |
52.80 |
74.75 |
21.95 |
2.00 |
incl. |
52.80 |
70.30 |
17.50 |
2.47 |
incl. |
52.80 |
53.55 |
0.75 |
19.10 |
and |
59.20 |
59.80 |
0.60 |
14.19 |
and |
63.20 |
64.90 |
1.70 |
7.30 |
and |
69.25 |
70.30 |
1.05 |
7.07 |
and |
72.90 |
73.40 |
0.50 |
1.02 |
WB22-95 |
27.40 |
29.00 |
1.60 |
1.08 |
WB22-96 |
56.90 |
82.00 |
25.10 |
2.17 |
incl. |
56.90 |
66.00 |
9.10 |
5.94 |
incl. |
56.90 |
60.50 |
3.60 |
14.90 |
WB22-97 |
16.70 |
17.70 |
1.00 |
2.39 |
WB22-98 |
46.90 |
47.10 |
0.20 |
1.53 |
WB22-99 |
19.00 |
19.20 |
0.20 |
0.46 |
WB22-101 |
21.45 |
22.00 |
0.55 |
9.09 |
WB22-103 |
11.45 |
12.20 |
0.75 |
1.77 |
WB22-106 |
5.00 |
6.00 |
1.00 |
2.82 |
WB22-107 |
21.15 |
21.90 |
0.75 |
0.40 |
and |
42.55 |
42.85 |
0.30 |
0.85 |
WB22-109 |
70.50 |
71.55 |
1.05 |
3.71 |
WB22-110 |
6.40 |
17.20 |
10.80 |
0.53 |
and |
14.60 |
17.20 |
2.60 |
1.13 |
WB22-113 |
3.70 |
4.00 |
0.30 |
2.41 |
*Stated lengths in metres are downhole core
lengths and not true widths. True widths will be calculated once
more drilling confirms the geometry of the quartz-sulphide
system.
ABOUT THE WILLIAMS BROOK GOLD PROJECT
AND THE LYNX GOLD ZONE
The Williams Brook Gold Project
is comprised of 4 claim blocks covering more than 40,000 ha in an
established and mining-friendly jurisdiction, near paved roads and
with excellent infrastructure in place (Figure 3).
FIGURE 3: The Williams Brook Gold Project
main zones
https://www.globenewswire.com/NewsRoom/AttachmentNg/668f2d72-5021-415f-893a-6498944e43e2
The Lynx Gold Zone is
interpreted to be a mineralized felsic dome within a large
epithermal/orogenic gold system part of the Appalachian Orogeny.
The high-grade gold mineralization is characterized by finely
disseminated gold in quartz (veins, veinlets, stockworks, breccias)
affected by pervasive supergene alteration. The stratigraphy of the
dome is well defined and typical: fine laminated turbidite-type
sedimentary unit, rhyolite breccia with sedimentary fragments,
massive rhyolite unit and sedimentary and volcano-clastic units.
The contact between the sediment and the rhyolite allowed for the
movement of gold-bearing fluids and is characterized by highly
silicified iron oxide carbonates and intense sericite alteration.
The Lynx Gold Zone was discovered in 2020 by high-grade surface
samples and later recognized at depth in 2021 by hole WB21-02 that
intersected 5.55 g/t Au over 50.15 m from surface,
including two high-grade gold veins with 9.88 g/t Au over
8.60 m and 46.94 g/t Au over 3.85 m.
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") MEASURESDrill core samples are bagged,
sealed and sent to the facility of ALS CHEMEX in Moncton, New
Brunswick, where each sample is 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 every 20 samples in
addition to standards, blanks, and duplicates.
All samples over 10 g/t gold or with abundant
visible gold are analyzed with a gravity finish (Au-GRA22). Check
assays are routinely performed for samples with visible gold to
ascertain the gold content of the mineralization zone.
ABOUT PUMA EXPLORATION
Puma Exploration is a Canadian-based mineral
exploration company with precious metals projects located near 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 /
LinkedInVisit 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.
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