Puma Exploration Inc. (the “Company” or “Puma”) (TSXV:PUMA) and Trevali Mining Corporation (TSX:TV) (“Trevali”) held their first Technical Committee meeting, as contemplated in the Option Agreement signed and announced on April 30, 2018, whereby a budget of $1 million has been approved for the development and exploration work program (“Program”) on the Murray Brook Deposit (ML.252).
Puma Exploration Inc. (the “Company” or “Puma”) (TSXV:PUMA) and Trevali Mining Corporation (TSX:TV) (“Trevali”) held their first Technical Committee meeting, as contemplated in the Option Agreement signed and announced on April 30, 2018, whereby a budget of $1 million has been approved for the development and exploration work program (“Program”) on the Murray Brook Deposit (ML.252). The Murray Brook Deposit, which comprises 484 hectares, is located 10 kilometers west of Trevali’s Caribou Mine and 10 kilometers east of Trevali’s Restigouche Deposit along the favorable Caribou horizon in the Bathurst Mining Camp of New Brunswick, Canada.
The Program’s goal is to move the Murray Brook Deposit to a production decision in a timely manner. Trevali will manage the advanced engineering studies and the technical aspects of the Program and Puma will be responsible for the field exploration and geological interpretation. The budgeted amount of $1 million is to be funded proportionally 75% by Trevali and 25% by Puma.
Highlights of the 2018 Work Program at the Murray Brook Deposit include the following work:
• Drilling programs consisting of about 5,000 meters are fully permitted and are underway;
- Five (5) holes are directed to collect metallurgical samples representative of the different metal domains of the deposit, i.e. High-Grade Zinc, Lower Grade Zinc and High-Grade Copper and apply the current flowsheet of the Caribou Mine where the material should be treated;
- Four (4) holes will be directed for geotechnical survey of the hanging wall and footwall to characterize the host rock and evaluate the more appropriate mining method as an open pit and/or an underground scenarios;
- Some of the metallurgical and geotechnical holes will be deepened to explore the immediate extension at depth and along strike of the Murray Brook Deposit;
- Remaining holes will be exploration holes within 500 meters of the Deposit to test first priority targets;
• Trenching programs will be conducted on the eastern side of the Deposit to locate the favorable Caribou horizon and generate new drilling targets;
• Initial engineering work to define the future production pathway options;
• Coordination with various government departments and agencies on the environmental protocols and bonding, and future permitting.
Trevali will provide their metallurgical consulting expertise through access to the Caribou metallurgical and geochemical labs, environmental design and monitoring, access to all relevant studies and reporting, CSR expertise, the Mi’kmaq Indigenous partnership.
Discussions are underway to define the 2018 and beyond field exploration programs for the Strategic Exploration Alliance (refer to press release 02/03/2018 and 30/04/2018) in the Restigouche–Armstrong Belt region covering more than 32,000 hectares of prospective land in the northern boundary of the Bathurst Mining Camp. The Exploration Alliance 2018 field season will be released shortly.
The Murray Brook Deposit
The Murray Brook Deposit, has a currently defined measured and indicated mineral resource of 5.28 million tons averaging 5.24% zinc, 1.80% lead, 0.46% copper, 68.9 g/t silver and 0.65 g/t gold containing 610 M lbs of zinc, 209 M lbs of lead and 11.7 M ounces of silver. The core of the mineral resource occurs in the West Zone (Zinc-Lead) which is 200 meters wide, extending from surface to 300 meters vertical and the true thickness of the massive sulphide body varies from 75 meters to 100 meters. The East Zone (Copper-Gold) is 100 meters wide, also extending from surface to 300 vertical meters and is mainly mineralized with gold and copper. On February 20th 2017, a NI 43-101 report was filed on SEDAR.
The Caribou Mine
Trevali’s Caribou mine is located approximately 10 kilometers east of the Murray Brook Deposit. It comprises an underground mine, a 3,000-tonne-per-day (tpd) processing mill, a flotation recovery plant, metallurgical and geochemical laboratories, as well as a tailings management facility.
About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company’s major assets consist of an option to acquire 100% beneficial interest in the Murray Brook Property, the Turgeon Zinc-Copper Project and the Nicholas-Denys Project all located in New Brunswick as well as an equity interest in BWR Resources, Manitoba. Puma’s objective is to focus its exploration efforts in New Brunswick.
About Trevali Mining Corporation
Trevali is a zinc-focused base metal company with four mines: the wholly-owned Santander mine in Peru, the wholly-owned Caribou mine in the Bathurst Mining Camp of northern New Brunswick, its 90% owned Rosh Pinah mine in Namibia and its 90% owned Perkoa mine in Burkina Faso.
Qualified Persons and QC/AC
Technical information provided in this news releases was prepared and reviewed by Marcel Robillard, P.Geo., President and Dominique Gagné, P.Geo., Vice President Exploration of Puma Exploration, qualified persons as defined by NI 43-101. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Mr. Robillard and Mr. Gagné are not independent of the Company, as both are officers and shareholders thereof.
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 Exploration Inc. 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 Exploration 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.