As mineral exploration companies across Canada seek new mining locations, one location stands out every year as a top contender. New Brunswick is a province rich in natural resources with mining-friendly policies, substantial infrastructure, a comprehensive regulatory regime and a competitive tax regime. Each year, New Brunswick ranks among the top places in the world for mineral exploration in the Fraser Institute’s Annual Survey of Mining Companies.
New Brunswick is home to the Bathurst Mining Camp (BMC) which is one of the most prolific mining camps for base metals in Canada. The BMC hosts 46 mineral deposits of which 25 comprise reserves of 1 million tonnes or more. The BMC also hosted the Brunswick #12 mine, one of the largest underground zinc mines in the world. As a result, companies with mineral projects in New Brunswick’s Bathurst Mining Camp will likely be of particular interest to investors seeking upside potential.
Puma Exploration Inc. (TSXV:PUMA,OTC:PUXPF) is a Canadian mineral exploration company focused on developing a portfolio of high-grade precious and base metals projects located near and inside the prolific Bathurst Mining Camp in New Brunswick, Canada. The company is led by a highly experienced management team with decades of experience in mining exploration and development. In 2014, the company received the Prospector of the Year award from The New Brunswick Prospectors and Developers Association.
Puma Exploration’s flagship Triple Fault Gold project is a district-scale land package of over 41,500 hectares and is located approximately 60 kilometres west of the Bathurst Mining Camp. The Triple Fault Gold project consists of three highly prospective properties –– Williams Brook, Jonpol and Portage.
“We have found the best hole ever, it’s a dream come true,” said CEO of Puma Exploration Marcel Robillard.
In September 2021, the company announced impressive initial drill results of 5.55 gpt of gold over 50.15 metres from the surface of its 20,000-hectare Williams Brook Gold property. The notable property is a major discovery for Puma Exploration and is fully controlled by the company. In October 2021, the company announced high-grade gold assays recovered from its 2021 field exploration surface sampling program on its Williams Brook Gold property. The results include 199 g/t Au, 192 g/t Au, and 170.5 g/t Au. he company also drilled 1.00 g/t Au over 40.6 Meters extending the gold mineralised zone Into the sediments
Great efforts will be made by the company in the coming years to deploy its DEAR strategy (Development, Exploration, Acquisition and Royalties) to generate maximum value for shareholders with low shares dilution.
The company is currently awaiting further assay results from its 2021 drill program on the Williams Brook Gold property. The 2021 field exploration surface sampling program is currently underway. Puma Exploration is also dedicated to ESG initiatives by following the principles of sustainable development, social responsibility and social acceptability.
Puma Exploration’s Company Highlights
- Puma Exploration is developing a portfolio of high-grade precious and base metals projects located near and inside the prolific Bathurst Mining Camp in New Brunswick, Canada.
- Puma Exploration’s flagship Triple Fault Gold project is a district-scale land package of over 41,500 hectares located near the Bathurst Mining Camp in New Brunswick.
- The Williams Brook property is a notable and major discovery that includes initial drill results of 5.55 gpt of gold over 50.15 metres from the surface.
- The company will be utilizing its DEAR strategy (Development, Exploration, Acquisition and Royalties) to generate maximum value for shareholders with low shares dilution.
- The company is also dedicated to ESG initiatives by following the principles of sustainable development, social responsibility and social acceptability.
Puma Exploration’s Key Projects
Triple Fault Gold
The Triple Fault Gold project is a district-scale land package of over 41,500 hectares located approximately 60 kilometres west of Bathurst. The project features excellent infrastructure and access to paved roads. The Triple Fault Gold project consists of three properties –– Williams Brook, Jonpol and Portage.
The Jonpol property features 150 claim blocks spanning 10,000 hectares. The property is located 20 kilometres east of the Williams Brook property. Drilling on the Jonpol property returned 1.13 gpt of gold over 12.0 metres, 1.37 gpt of gold over 6.0 metres, 1.37 gpt of gold over 1.4 metres, 3.89 gpt of gold over 1.0 metres and 2.78 gpt of gold over 1.5 metres. Grab sample results include 14.83 and 10.6 gpt of gold. The property features limited diamond drilling but based on gold occurrences, the property may feature additional mineralization.
The most notable property is Williams Brook which is a major gold discovery. The 100 percent controlled Williams Brook is over 20,000 hectares and features many gold occurrences over 10 gpt with significant high-grade gold veins and three known gold trends. The drilling program on Williams Brook for 2021 has already been completed with assay results currently underway on 18 drill holes. The 2021 drill program returned an impressive 5.55 gpt of gold over 50.15 metres. The 2021 field exploration surface sampling program identified more high-grade gold veins with up to 199 gpt of gold. The company is currently continuing an aggressive exploration program on the O’Neil gold trend on the Williams Brook Gold property.
The Portage property contains significant copper, nickel and cobalt mineralization. Trenching on the property in 2017 found significant iron, copper, nickel and cobalt. Grab samples on the Portage property found grades at 1.46 gpt and 0.35 gpt of gold. The company strongly believes that this property has strong potential for significant discoveries given its limited advanced work history.
The Chester project is a 3,600-hectare copper project located 25 kilometres southwest of three significant deposits. These three notable VMS deposits are owned by Trevali Mining (TSX:TV) and include Halfmile Lake, Stratmat and Health Steele. The property features near-surface copper deposits in three zones, including the Central Zone, the East Zone and the West Zone (Copper Stringer).
Previous operators reported historical resources totalling 16.8 million tonnes at 0.76 percent on the Chester deposit divided into the three zones. In 2014, a resource estimate based on the West Zone was produced. The estimate includes measured and indicated resources of 1,400,000 tonnes at grades of 1.38 percent of copper and 3.5 gpt of silver and inferred resources of 2,089,000 tonnes at grades of 1.26 percent of copper. The inferred resource estimate only assayed for copper which suggests that other mineralization may be inferred.
The Legacy project is a 499.4-hectare copper project consisting of two blocks of claims in Restigouche County, New Brunswick. The project is approximately 100 kilometres west of Bathurst and approximately 40 kilometres from Saint Quentin. The property is owned under the company’s wholly-owned Murray Brook Minerals Inc. subsidiary. The property features the notable Legacy deposit, two main prospect zones which are Hornfels and J.J. Gold and several other geophysical targets.
A historical resource of 1,040,000 tonnes at grades of 0.74 percent of copper and 5.15 gpt of silver was estimated by SKR Consulting in 2015. Mineralization on the property is contained in three steeply dipping mineralized zones varying from 1.5 metres to 12.1 metres in width. The drilling and resource model on the Legacy project indicates that the mineralization continues with depth and that additional tonnage could be delineated with additional drilling.
The Turgeon project is a 6.7 square kilometre copper project that consists of 31 claims. The property is accessible by road year-round and has an electrical transport line. The Turgeon project is located 5 kilometres south of the Belledune deep water port. The property is owned under the company’s wholly-owned Murray Brook Minerals Inc. subsidiary. The Turgeon project features multiple notable deposits including the Powerline, Zinc Zone and Dragon Zone.
Drilling by Esso Minerals in 1983 identified a historical resource of 1.4 to 2.0 million tonnes at grades of 1.5 percent copper and 4 percent zinc. The historical resource estimate was based on the Powerline and Zinc Zone deposits only. To date, approximately 100 holes have been drilled on the deposit which has returned an impressive 25,000 metres of core.
In 2013, Puma Exploration discovered the Dragon Zone on the Turgeon property which is approximately 200 metres south of the Powerline and Zinc Zones. Drilling on the property in 2013 returned substantial sulphides at grades of 1.01 of copper and 0.78 percent of zinc. Drilling on the property in 2014 found grades even higher at 5.66 percent of zinc, 0.38 percent of copper and 2.3 percent gpt of silver. Further drilling found zinc as high as 10.05 percent.
The Brunswick CARDS project is a copper project that is located north of the Chester project and southeast of the past operating East Steel mine. The property is owned under the company’s wholly-owned Murray Brook Minerals subsidiary. Brunswick CARDS was secured with a prospector and a private company with the CARDS system that was developed by Windfall Geotek (TSXV:WIN).
Murray Brook West
The Murray Brook West project is a grassroots copper project that hosts two anomalous zone discoveries. The property is owned under the company’s wholly-owned Murray Brook Minerals Inc. subsidiary. Trenching was conducted on the property in 2018 with 138 samples collected. In the same year, induced polarization and resistivity geophysical surveys were completed on 28/1 kilometre lines.
Puma Exploration’s Management Team
Marcel Robillard – CEO, President and Chairman of the Board
Marcel Robillard is a geologist who graduated in 1993 from the University of Quebec in Montreal. He also holds a Master of Earth Sciences obtained in 1995. From 1998 to 2007, he acted as a project geologist and project manager for Géominex which is a consulting firm in geology and mining exploration. Since 2007, Robillard has been on the board of directors of Puma Exploration (PUMA:TSX-V) in addition to being CEO of Puma Exploration since 2010.
Richard Thibault – Director
Richard Thibault has a B.Sc. in Mining Engineering from Queen’s University in Canada. He is a Professional Engineer (P.Eng.) with over 40 years of mining experience in engineering, operations, management and consulting. Thibault’s experience is in North and South America and Southeast Asia. Thibault is the president and principal engineer at AVOT Consulting Inc. Currently, he is on a long-term assignment for MUZO Emeralds as VP of Colombian Shared Services and director of mines in Colombia. Before this, he was group chief operating officer of mining at Malaysia Smelting Company Bhd. and senior general manager of its subsidiary Rahman Hydraulic Tin Sdn. Bhd. Thibault was also the CEO of Asian Metal Mining Consultancy in Malaysia. From 2008 to 2013, he was chief executive officer and director of Antioquia Gold Inc. (AGD-V) which is a publicly traded company with mining interests in Colombia.
From 1997 to 2006, Thibault worked in Argentina, Bolivia, Chile, Colombia, Ecuador, Mexico, Panama, Peru and Venezuela. While based in Buenos Aires, Argentina, he held the position of president at High American Gold Inc. which is a publicly-traded junior mining company. He also held the position of managing director at Procesadora de Boratos Argentinos S.A. (PBA) which is a private industrial mineral company. In Santiago, Chile, he was the general manager of the consulting firm BGC-AVOT Engineering Inc. From 2006 to 2007, he held the position of vice president of minerals at Daleco Resources Corp. which is a United States-based publicly traded company. Before moving to South America, he worked for Fording Coal Ltd., a Canadian company, in progressively responsible positions.
Ginette Gosselin Brisson – Chief Financial Officer
Ginette Gosselin Brisson is a graduate of the University of Quebec at Rimouski (UQAR) and is a Chartered Professional Accountant (CPA) with more than 40 years of experience in auditing public bodies, manufacturing companies and service companies. Since 2014, she has been employed by Puma Exploration Inc.
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