Puma Exploration Reports Assay Results From Fall 2022 HQ Drilling and Confirms Non-Acid Generating Rock at the Lynx Gold Zone

Puma Exploration Reports Assay Results From Fall 2022 HQ Drilling and Confirms Non-Acid Generating Rock at the Lynx Gold Zone

Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to report up to 12.03 gt gold over 1.50 m in short (only 6 to 18 m depth) HQ holes drilled last fall at the Lynx Gold Zone ("LGZ"). The holes were drilled as part of an expanded metallurgical test announced on November 15, 2022. Static Acid Base Accounting and Total Sulphur testing also determined that the rock is non-acid-generating .

" These preliminary results from our expanded metallurgical test are very positive. Our gold-bearing quartz veins contain almost no sulphide or arsenic. Bulk sampling and potential mining would therefore be non-acid-generating. These results are significant as they enable us to further de-risk a potential mining operation at the Lynx Gold Zone, " notes Marcel Robillard, President and CEO of Puma Exploration.

The expanded metallurgical test was conducted to better define the gold mineralization found at surface (within the first 10 metres) at the Lynx Gold Zone, identify opportunities and potential challenges for gold recovery and help design the flowsheet (recipe) for processing the upcoming bulk sample. Test work on 300 kg of material collected on each of the 12 main quartz veins (3,300 kg total) at the LGZ is pending and will be released in the coming weeks.

HQ DRILLING
Eight (8) HQ holes, for a total of 102 m, were drilled on three (3) main quartz veins. Drilling targeted both high- and low-grade veins (see Figure 1). Since the veins are known to dip, the holes were collared vertically to hit both the quartz veins at surface and the rhyolite underneath. Sampling of the quartz veins and the host rock was undertaken to corroborate the gold results of grab samples collected during surface exploration, verify their acid-generating potential, identify any negative implications of an open pit operation and provide valuable information for planning the upcoming bulk sample.

Consistent with results to date, the gold grades of the outcropping quartz veins assayed in the drill core reflect the gold grades from grab samples collected at surface as shown in holes WB22-114 with 25.20 g/t Au over 0.45 m, WB22-118 with 19.65 g/t Au over 0.90 m and WB22-117 with 7.99 over 0.90 m (see Figure 2). Of note and as anticipated, gold mineralization was continuous from surface with assays returning 3.05 g/t Au over 6.00 m (WB22-114), 1.23 g/t over 10.00 m (WB22-117), and 2.52 g/t Au over 10.00 m (WB22-118) (see Table 1).

Figure 1: Location of HQ holes drilled at the Lynx Gold Zone for the metallurgical test

Location of HQ holes drilled at the Lynx Gold Zone for the metallurgical test

Figure 2: Gold grades from grab samples versus HQ drilling of outcropping quartz veins

Gold grades from grab samples versus HQ drilling of outcropping quartz veins

Table 1: Assay results for the short HQ holes drilled at the Lynx Gold Zone

DDH # From To Length Au-Best *Sample
(m) (m) (m) (g/t) rock
WB22-114 0.00 6.00 6.00 3.05 Entire Hole
incl. 0.00 1.50 1.50 12.03 QV+RHY
incl. 0.00 0.45 0.45 25.20 QV
WB22-115 0.00 6.00 6.00 0.36 Entire Hole
incl. 0.50 3.95 3.45 0.50 QV
and 5.60 6.00 0.40 0.93 QV
WB22-116 0.00 9.00 9.00 0.50 Entire Hole
incl. 0.40 5.15 4.75 0.92 RHY+QV
incl. 1.40 5.15 3.75 1.06 RHY
incl. 4.40 5.15 0.75 3.74 QV
WB22-117 0.00 18.00 18.00 0.69 Entire Hole
incl. 0.00 10.00 10.00 1.23 RHY+QV
incl. 0.00 2.70 2.70 4.26 QV
0.00 0.90 0.90 7.99 QV
WB22-118 0.00 18.00 18.00 1.40 Entire Hole
incl. 0.00 10.00 10.00 2.52 QV
incl. 0.00 3.25 3.25 6.60 QV
incl. 0.00 1.90 1.90 10.40 QV
incl. 0.00 0.90 0.90 19.65 QV
WB22-119 0.00 9.00 9.00 0.36 Entire Hole
incl. 1.00 4.80 3.80 0.81 RHY+QV
incl. 1.00 1.85 0.85 1.59 QV

* QV: Quartz Vein, RHY: Rhyolite

Table 2: Technical information for the short HQ holes drilled at the Lynx Gold Zone

DDH East UTM North UTM Azimuth Dip length Core size
Nad83 z19 Nad83 z19 (N) (-   ) (m)
WB22-114 660 263 5 259 312 360 90 6.00 HQ
WB22-115 660 271 5 259 304 360 90 6.00 HQ
WB22-116 660 275 5 259 305 350 80 9.00 HQ
WB22-117 660 279 5 259 306 350 70 18.00 HQ
WB22-118 660 281 5 259 307 360 90 18.00 HQ
WB22-119 660 268 5 259 314 360 90 9.00 HQ
WB22-120 660 271 5 259 348 360 90 18.00 HQ
WB22-121 660 279 5 259 348 360 90 18.00 HQ
Total: 102.00

CONFIRMATION OF NON-ACID-GENERATING ROCK

Acid mine drainage ("AMD") is a major environmental concern for mining operations. Mining companies must determine if weathering/oxidation of rock at their mine site produces acid and must devise and deploy a mitigation strategy to counteract acid production if present.

RPC tested 33 selected samples from the HQ holes drilled on the surface veins and on another 2 holes drilled in 2022 that intercepted the sediment hanging wall. All samples were subjected to static Acid Base Accounting (ABA) test work. None were found to be potentially acid-producing. In addition, the total sulphur content in all samples was either very low or below the detection limit of 0.005%. The ratio between Neutralizing Potential and Acid Production Potential along with the Total Sulphur results indicate that none of the 33 submitted samples were acid-producing.

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:

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 ( D evelopment, E xploration, A cquisition, and R oyalties) to generate maximum value for shareholders with low share dilution.

Connect with us on Facebook / Twitter / LinkedIn
Visit 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.

Figures accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/901f4dd5-7e99-4f99-99bf-8fbcc39a8f75  
  https://www.globenewswire.com/NewsRoom/AttachmentNg/2450cb43-f673-43bc-b1bc-8eab69cbb96b


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

PUMA:CA
The Conversation (0)
Puma Increases the High-Grade Gold Footprint of the Lynx Gold Zone and Extends it at Depth

Puma Increases the High-Grade Gold Footprint of the Lynx Gold Zone and Extends it at Depth

  • Hole WB23-139 intersected 63.05 m at 2.49 g/t gold, including two (2) high-grade gold intervals of 37.40 g/t gold over 2.50 m and 21.66 g/t gold over 2.55 m .
  • 2.06 g/t gold over 5.20 m was intercepted at 215 m downhole (WB23-139)- the deepest occurrence of gold to date.
  • Lower-grade gold envelopes of 0.49 g/t to 0.67 g/t gold over 22.80 to 30.95 m surround the higher-grade gold shoots.
  • The Moose area shows consistent gold mineralization at surface with hole WB23-136 grading 30.90 m of 1.10 g/t gold .
  • Drill core samples with visible gold ("VG") returned 137.0 g/t gold over 0.60 m (WB23-139), 96.0 g/t gold over 0.45 m (WB23-139), 63.6 g/t gold over 0.30 m (WB23-136), 16.85 g/t gold over 0.79 m (WB23-137).

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the results of another seven (7) holes of its 2023 drilling program at its 100%-owned Williams Brook Gold Project with high grades intercepts and long gold mineralized sections.

Hole WB23-139 intersected two (2) high-grade gold intervals of 37.40 g/t gold over 2.50 m and 21.66 g/t gold over 2.55 m (Figure 1) within a 63.05 m intercept grading 2.49 g/t gold from 89.95 to 153.00 m. The same hole intersected another gold intersection of 2.06 g/t gold   over 5.20 m at 215 m downhole depth. With these new gold intersections, the Lynx Gold Zone ("LGZ") has been extended to approximately 150 m vertical depth (Figure 2), further highlighting the potential for significant depth extension.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Samples 362 g/t Gold at Newly Optioned TIMM Gold Property

Puma Exploration Samples 362 g/t Gold at Newly Optioned TIMM Gold Property

  • Strategic gold property located along national road, only 10km from St-Quentin and 25km west of Williams Brook Flagship property.
  • High-grade gold structure, with initial surface sampling up to 362 g/t gold*.
  • Mineralization hosted in similar quartz veins within sedimentary package.
  • Similar depositional gold environment as Williams Brook Gold property.

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce that it has entered into a property agreement to strategically increase its substantial gold landholdings at the Williams Brook Gold Project (Figure 1). The newly optioned TIMM Gold Property, with grab samples* grading up to 267 gt gold and 362 gt gold (Table 1), marks another step towards Puma's development of a major gold camp in Northern New Brunswick.

Figure 1: Puma's assets and landholdings in Northern New Brunswick

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Drills Series of Stacked High-Grade Gold Quartz Veins at Williams Brook

Puma Exploration Drills Series of Stacked High-Grade Gold Quartz Veins at Williams Brook

  • Hole WB23-125 returned 50.85 m of 1.05 g/t gold.
  • Gold mineralization extends over 90 m from surface in a series of stacked high-grade   quartz veins.
  • All 11 holes intersected the targeted quartz veins, with assay results returning from anomalous gold (0.10 g/t) to 42.60 g/t.
  • Gold was intercepted at depth in areas never drilled before.
  • Results confirm the continuity of gold mineralization at the Lynx Gold Zone.
  • Assay results for 13 additional holes (2,200 m), including 47 samples containing VG are still pending

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the results for the first eleven (11) holes of its 2023 drilling program at its 100%-owned Williams Brook Gold Project in Northern New Brunswick. These holes were first reported on August 2, 2023, and are not part of the series that returned more than 100 specks of visible gold ("VG") on initial inspection. Notwithstanding, seven (7) of the 11 holes reported today returned significant gold, with four (4) holes intersecting multiple mineralized high-grade gold quartz veins (Table 1). Hole WB23-125 intersected fifteen (15) separate quartz veins and returned 90 m of 0.70 gt gold from surface (at 2.90 m) with an impressive 50.85 m of 1.05 gt gold starting at 42 m depth, including a 4.50 m interval of 6.46 gt gold at 75 m depth.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Defines Drilling Targets for Lynx Gold Zone Lateral Extension

Puma Exploration Defines Drilling Targets for Lynx Gold Zone Lateral Extension

Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to outline the ongoing progress of its 2023 exploration program at its 100%-owned Williams Brook Gold Project in Northern New Brunswick, Atlantic Canada. The program has successfully shown that gold mineralization extends to 150 m vertical depth at the Lynx Gold Zone ("LGZ") following Phase 1 drilling ( see August 23, 2023, News Release ). With assay results pending, the Company is now focused on demonstrating the continuity of gold mineralization along the 4 km extension of the Lynx Gold Trend ("LGT") to increase the total gold inventory of the 44,000-ha land package.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Welcomes Jean-David Moore to its Advisory Board

Puma Exploration Welcomes Jean-David Moore to its Advisory Board

Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the appointment of Mr. Jean-David Moore to the Company's Advisory Board. Mr. Moore has been a consultant and advisor to several mineral exploration and development companies for over fifteen years.

" Jean-David will be a valuable asset to Puma's Advisory Board, bringing his extensive industry experience and knowledge.   He has developed a strong relationship network with his significant holdings in several mineral exploration companies. As a major shareholder of Puma, he will be a trusted ally and champion as we continue to develop our Williams Brook Gold Project. This appointment reflects Puma's continued commitment to building a team focused on creating value for shareholders ", stated Marcel Robillard, President and CEO of Puma.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Zodiac Gold Terminates Exclusivity Agreement with Mable and Fable Limited to Pursue Multiple Strategic Opportunities and Announces Up To C$500,000 Shareholder-Led Private Placement

Zodiac Gold Terminates Exclusivity Agreement with Mable and Fable Limited to Pursue Multiple Strategic Opportunities and Announces Up To C$500,000 Shareholder-Led Private Placement

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, announces that it has terminated the exclusivity agreement previously entered into with Mable and Fable Limited ("MFL") on September 26, 2024, due to MFL's failure to satisfy their funding obligations under the agreement.

By terminating the exclusivity agreement, the Company is now free to pursue multiple strategic opportunities (including partnerships, joint ventures and financings) that have emerged since the announcement of its recent iron ore discovery. Following that announcement, Zodiac Gold has received substantial interest from multiple parties regarding these high-potential assets. The Company intends to evaluate these opportunities with a view towards identifying how to best leverage its iron ore assets in one or more transactions that will maximize shareholder value. In parallel, Zodiac Gold intends to continue to build on the exploration success of its recently completed Alasala and Arthington drilling programs at its Todi Project.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
PROSPECT RIDGE CONFIRMS LARGE MINERALIZED SYSTEM AT COPPER RIDGE ZONE OF KNAUSS CREEK PROPERTY IN BRITISH COLUMBIA, CANADA

PROSPECT RIDGE CONFIRMS LARGE MINERALIZED SYSTEM AT COPPER RIDGE ZONE OF KNAUSS CREEK PROPERTY IN BRITISH COLUMBIA, CANADA

Prospect Ridge Resources Corp. (the " Company " or " Prospect Ridge ") (CSE: PRR) (OTC: PRRSF) (FRA: OED) is pleased to announce the results of its drilling campaign at the Copper Ridge Zone (" Copper Ridge ") of its wholly-owned Knauss Creek property located approximately 35 kilometres (km) northeast of Terrace, British Columbia .

Drill Program Highlights

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Element79 Announces Closing of First Tranche of Non-Brokered Private Placement

Element79 Announces Closing of First Tranche of Non-Brokered Private Placement

(TheNewswire)

Element79 Gold Corp.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Riverside Resources Announces the Launch of Blue Jay Resources and Its Ontario Gold Project Portfolio

Riverside Resources Announces the Launch of Blue Jay Resources and Its Ontario Gold Project Portfolio

Intention to Spinout Blue Jay in 2025

Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to announce the completed transfer of its three key Ontario gold properties: Pichette, Oakes, and Duc to its wholly-owned subsidiary, Blue Jay Resources Inc ("Blue Jay"). This move lays the groundwork for Riverside's strategic plan to advance its Ontario portfolio by establishing Blue Jay as a standalone exploration company. Blue Jay can fully focus on the exploration, discovery, and value-creation potential that these assets deserve. This structure provides Riverside shareholders with exposure to potential gains, while also paving the way for capital investment aimed at unlocking value in these properties.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Grande Portage Announces First Closing of Non-Brokered Private Placement -- Pursuant to the Listed Issuer Financing Exemption

Grande Portage Announces First Closing of Non-Brokered Private Placement -- Pursuant to the Listed Issuer Financing Exemption

Not for distribution to United States newswire services or for dissemination in the United States.

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce that it has completed a first closing of its non-brokered private placement previously announced on October 30, 2024 for the sale of 3,470,000 units (each, a "Unit") at a price of C$0.30 per Unit for aggregate gross proceeds of C$1,041,000 (the "Offering"). The Offering is being carried out pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions - Listed Issuer Financing Exemption (the "LIFE Exemption") to purchasers resident in Canada, and in jurisdictions outside of Canada in compliance with the applicable securities laws of those jurisdictions. The Company has an offering document (the "Offering Document") related to the Offering that can be accessed under Grande Portage's profile at www.sedarplus.ca and on the Company's website at https:grandeportage.com. Except for one US accredited investor, all other investors participating in the first closing subscribed for Units under the LIFE Exemption, and the Units issued pursuant to the LIFE Exemption are not subject to any statutory hold period in Canada. However, the Units issued to the US accredited investor are subject to Rule 144 resale restrictions under applicable US securities laws and will bear a legend to that effect

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Two New Reduced Intrusive  Targets, Totalling Four, Identified at Tombstone Belt, Yukon - Gold Orogen, New Spin Co of Lode Gold

Two New Reduced Intrusive Targets, Totalling Four, Identified at Tombstone Belt, Yukon - Gold Orogen, New Spin Co of Lode Gold

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company") is pleased to announce the results of our ongoing interpretation of data collected during the summer 2024 QMAGT survey.

Importantly, two additional RIRGS targets "Stingray" and "Camp" have been defined on the Golden Culvert property as a direct result of incorporating the new geophysical data with existing geochemical datasets. These new targets complement the RIRGS targets already identified (a total of four highly prospective RIRGS targets, namely "Border", "Steelhead", "Stingray" and "Camp") by Gold Orogen, subsidiary of Lode Gold, on its nearby WIN property.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×