comfort inn bathurst nouveau brunswick

Puma Exploration Begins Its First Drilling Program at Williams Brook Gold Property in New Brunswick, Canada

Puma Exploration Inc., PUMA-TSXV, (the "Company" or "Puma") is pleased to announce the beginning of its inaugural drilling campaign, with an initial minimum of 2,000 meters, to test high-grade gold targets at the O'Neil Gold Trend (OGT) on its 100% controlled Williams Brook Gold Project in New Brunswick. The Williams Brook Gold Project is located within the newly highly prospective district of Atlantic, Canada.

Initial drilling will test shallow mineralization below the high-grade gold showings at the Lynx Gold Zone, where many grab samples assayed over 30 g/t gold (see news release dated 2021-03-31). Since the plunge and direction of the high-grade mineralization is not yet known, drilling will proceed with evenly spaced fans of short drill holes centered on the gold-bearing quartz veins network (Figure 1).

Since the discovery of the high-grade gold-bearing system in late 2020, Puma reported the discovery of additional quartz veins and veinlets at surface at the Lynx Gold Zone with few specks of Visible Gold (VG) observed in the quartz veins (see news release 2021-06-17). The mineralization is hosted in a strongly altered rhyolite at the contact with sediments.

"We are thrilled to begin the drilling operation at the high-grade gold target at the Lynx Gold Zone. Following up on our new discovery of visible gold late last year, it is an exciting time for Puma Exploration," said Marcel Robillard, President and CEO of Puma Exploration. "Since the initial discovery, we have uncovered significant gold in rock samples over at least 70 meters strike length along the Lynx Gold Zone which will be drilled first," added Marcel Robillard.

The technical team has been focused on understanding the controls on gold mineralization of the O'Neil Gold Trend and the associated vein corridor. "The understanding of the local geology, structures and geophysical signatures has improved considerably from recent mapping, sampling and experts consultations. We are now well positioned to begin drilling and the entire team is anxious to see the first drill core pulled from this newly discovered, gold-bearing, quartz vein system." Notes Dominique Gagné, President of Géominex, responsible for all technical work and programs for Puma Exploration.

O'Neil Gold Trend (OGT)

The O'Neil Gold Trend (OGT) is a pervasive altered and brecciated rhyolite unit hosting significant gold showings and occurrences followed by trenching over a strike length of 700 meters. The geophysical signature of the OGT is expressed over 7km. The favourable unit (rhyolite) is similar and parallel to the structures hosting the "Williams 1" and "Williams 2" Gold Zones with selected drill results of 11.2 g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over 23m .

These trends are interpreted to be related to a major rifting in the New Brunswick Geological events and could represent a low sulphidation epithermal gold system. Along the OGT, the width of the altered horizon varies from 5 to 250 meters with an average apparent thickness of 150 meters.

Numerous quartz veins, quartz veinlets, stockworks and breccias were observed mostly perpendicular to the major trend and contain the gold mineralization. The OGT has never been drilled and many gold zones were discovered during the summer 2020 exploration campaign.

High-Grade Selected Grab Samples Assays on the Prolific O'Neil Gold Trend (OGT)*:
O'Neil Gold Zone (VG**): 128.5 g/t Au, 44.4 g/t Au, 38.8 g/t Au, 32.8 g/t Au, 23.1 g/t Au
Pepitos Gold Zone (VG**): 52.1 g/t Au, 16.1 g/t Au, 15.0 g/t Au, 13.1 g/t Au, 4.87 g/t Au
Lynx Gold Zone (VG**): 241.0 g/t Au, 79.8 g/t Au, 74.2 g/t Au, 63.5 g/t Au, 58.4 g/t Au
Chubby Zone Area: 3.5 g/t Au, 1.2 g/t Au, 1.2 g/t Au, 0.45 g/t Au
Moose Gold Zone: 2.4 g/t Au, 2.1 g/t Au, 1.3 g/t Au, 1.1 g/t Au

* Selected rock grab samples are selective by nature and may not represent the true grade or style
** VG: Visible Gold

QUALIFIED PERSONS

Dominique Gagné, PGeo, independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. 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. Gagné is independent of the Company.

QUALITY ASSURANCE/QUALITY CONTROL (QA/QC)

Rock samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick where each sample is dried, crushed, and pulped. The samples were crushed to 70% less than 2mm, riffle split off 1kg, pulverise split to better than 85% passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Other screen sizes available. Duplicate 50g assay on screen undersize. Assay of entire oversize fraction.

ABOUT Puma Exploration

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. Great efforts will be made by the Company in the coming years to deploy its DEAR strategy (Development, Exploration, Acquisition and Royalties) in order to generate maximum value for shareholders with low shares dilution.

You can visit us on Facebook / Twitter / LinkedIn
Learn more by consulting www.explorationpuma.com for further information on Puma.
Marcel Robillard, President, (418) 750-8510; president@explorationpuma.com

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/33f839c8-84c7-43cf-bcd6-1f577c104b5e


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)
Puma Exploration

Puma Exploration


Keep reading...Show less

Exploring Highly Prospective High-grade Assets in New Brunswick’s Newest Gold Camp

Chen Lin, silver bars.

Chen Lin: Gold, Silver Prices Breaking Out, My Stock Strategy Now

Chen Lin of Lin Asset Management discusses what's behind gold's latest price move.

"Recently the stock in China's gold futures market just went parabolic — that actually preceded the recent gold breakout ... both had been rangebound for a long, long time, and then suddenly started breaking out two weeks ago," the expert explained.

Keep reading...Show less
Red pushpin marking Queensland on a detailed map of Australia.

Newmont Withdraws from Mount Coolon Joint Venture, GBM Regains Full Ownership

GBM Resources (ASX:GBZ) announced it has regained ownership of the Mount Coolon gold project in Queensland following Newmont’s (TSX:NEM,NYSE:NEM,ASX:NEM) termination of a 2022 farm-in agreement.

GBM made the deal with Newcrest Mining before that company was acquired by Newmont in 2023.

Newmont's withdrawal is part of its focus on divesting non-core assets to hone in on its more profitable and stable tier one operations. The company has made substantial adjustments to its portfolio this year.

Keep reading...Show less
Three gold bars on price chart with magnifying glass.

What Was the Highest Price for Gold?

Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.

The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has pushed the precious metal to record highs as market participants seek its perceived security.

And each time the gold price rises, there are calls for even higher record-breaking levels.

Keep reading...Show less

Latest Press Releases

Related News

×