Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the “Company” or
“Puma”) is pleased to announce that drilling will begin shortly on
its 100%-owned Williams Brook Gold Project in Northern New
Brunswick, Atlantic Canada. A technical crew will be mobilized next
week in preparation for the Company’s planned 2023 drilling
program.
The first phase of drilling will focus on
definition and expansion of the high-grade gold intercepts (see
Table 1) and interpreted high-grade gold shoots at the Lynx Gold
Zone (“LGZ”). The LGZ is Puma’s main area of focus. The zone
currently covers 750 m of strike, a 75 m width, and has been
defined to a depth of ~100 m.
Since 2021, Puma has systematically drilled
13,100 metres at the LGZ along the favourable rhyolite/sediment
contact that hosts gold-bearing quartz veins. Recent data
compilation has identified three main areas of gold enrichment with
several potential high-grade gold shoots that plunge 25 degrees NE
(see Figure 1). Extending these high-grade gold shoots at depth is
Puma’s priority in the upcoming 2023 Drilling Program.
Table 1: High-grade gold intercepts
targeted for the 2023 drilling program
Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
WB21-01 |
4.00 |
6.10 |
2.10 |
12.71 |
WB21-02 |
0.00 |
50.15 |
50.15 |
5.55 |
incl. |
7.20 |
10.20 |
3.00 |
8.33 |
and |
13.70 |
15.80 |
2.10 |
28.52 |
and |
45.60 |
49.45 |
3.85 |
46.94 |
WB21-06 |
46.80 |
49.70 |
2.90 |
16.92 |
WB21-16 |
80.00 |
88.35 |
8.35 |
5.11 |
WB22-25 |
1.40 |
11.70 |
10.30 |
10.72 |
WB22-26 |
21.25 |
26.50 |
5.25 |
5.13 |
WB22-36 |
3.80 |
18.00 |
14.20 |
5.83 |
WB22-57 |
2.70 |
15.00 |
12.30 |
4.30 |
WB22-66 |
31.40 |
67.55 |
36.15 |
3.25 |
incl. |
30.60 |
35.00 |
4.40 |
5.01 |
and |
66.25 |
73.40 |
7.15 |
13.49 |
WB22-91 |
6.55 |
10.75 |
4.20 |
9.84 |
WB22-96 |
56.90 |
60.50 |
3.60 |
14.90 |
Marcel Robillard, President, and CEO commented:
“The Lynx Gold Zone has significant expansion potential. Our
upcoming drilling season will focus on confirming and expanding the
interpreted high-grade gold shoots at depth and step-out drilling
will add to the zone’s gold inventory. The Williams Brook Gold
Project represents one of the hottest gold exploration plays in New
Brunswick and we’re excited to further develop our asset in
2023.”
Figure 1: Interpreted high-grade gold
shoots to be tested at the Lynx Gold Zone is
available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/887b61c9-17e7-4f89-8168-ed5771ac5e10
Following this first 3,000 to 4,000 m of
drilling for the high-grade gold depth expansion of the Lynx Gold
zone, the drill rig will be moved to test the favourable
rhyolite/sediment contact along a 3 km extension to the northeast
which is underlain by a large magnetic anomaly that could represent
the source of the gold mineralisation (see Figure 2). The planned
3,000 m of drilling will target high-grade mineralisation sampled
during last fall’s surface trenching program at the Lynx Gold
zone.
MAIN OBJECTIVES OF THE 2023 DRILLING
PROGRAM
■ Test the interpreted high-grade gold shoots in
the core of the Lynx Gold zone and extend them beyond 100 m
depth;
■ Confirm that the high-grade gold
mineralisation sampled at surface along the 3 km NE extension of
the LGZ continues at depth;
■ Define an internal block model of the gold
mineralisation at surface in preparation for the selection of the
upcoming 4,000t bulk sample (see February 28, 2023, News
Release);
■ Test new regional targets along strike beyond
the 3 km extension.
Figure 2: Lynx Gold Zone expansion
drilling targets along a large magnetic anomaly is
available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/55b68696-b3a0-4248-916b-32494f30bb4c
UPCOMING GOLD INVESTOR
EVENTS
Puma invites shareholders and interested parties to
schedule a meeting at the upcoming conferences to discuss the
Company's recent news and proposed developments:
- Swiss Mining Institute Conference in
ZurichMarch 21-22, 2023
swissmininginstitute.ch/program-march-2023/
- Deutsche Goldmesse in Frankfurt
May 5-6,
2023deutschegoldmesse.online/2023-spring-companies/
- 121 Mining Investment Event in
London
May 9-10, 2023121 Mining Investment London | 1-2-1
meetings between mining companies and investors (weare121.com)
ABOUT THE WILLIAMS BROOK GOLD
PROJECT
Puma's flagship Williams Brook Gold Project
covers more than 50,000 ha in Northern New Brunswick, an
established and mining-friendly jurisdiction, near paved roads and
with excellent infrastructure nearby. Since 2021, Puma has made
four (4) significant gold discoveries at Williams Brook, with gold
mineralization hosted in quartz veins at surface.
An aggressive exploration program is planned for
2023, including a minimum of 6,000 m of drilling and a 4,000 T bulk
sample.
QUALIFIED PERSON
Dominique Gagné, P.Geo., 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 EXPLORATION
Puma Exploration is a Canadian-based mineral
exploration company with precious metals projects near New
Brunswick, Canada's Famous Bathurst Mining Camp ("BMC"). The
Company is committed to deploying 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 and
CEO, (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 several 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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