Mr.
Marcel Robillard reports
PUMA EXPLORATION DISCOVERS A NEW COPPER ZONE AT MURRAY BROOK
Puma Exploration Inc. has discovered a new zone containing copper stringers extending from surface and outside of the current resource model at the Murray Brook deposit located in the famous Bathurst mining camp in New Brunswick. The new discovery is a new horizon adjacent to the massive sulphide mineralization and corresponds to a strong Megatem anomaly at depth, in the same area where hole MB18-10 intersected significant sulphide mineralization over 100 metres. This new copper stringer zone has been followed over a distance of 180 metres at surface by four holes of the January, 2019, drilling program and by previous drill hole MB17-03.
Hole MB19-01 returned 26.4 metres grading 1.35 per cent copper, 19 grams per tonne silver and 0.18 gram per tonne gold, including a 4.0-metre section of 2.24 per cent copper and 0.25 gram per tonne gold. In addition, a number of other significant sulphide intercepts have been recorded along the western boundary with grades greater than 1 per cent copper over more than 20 metres (see attached table).
SIGNIFICANT COPPER RESULTS AT MURRAY BROOK DEPOSIT
DDH No. From To Length Lithology Cu Au Ag Pb Zn
(m) (m) (m) (%) (g/t) (g/t) (%) (%)
MB-2017-03 56.0 82.0 26.0 STK 1.02 0.05 12 0.15 0.52
Including 56.0 69.0 13.0 STK 1.47 0.05 15 0.20 0.62
MB-2019-01 20.0 70.0 50.0 STK 0.81 0.13 13 0.17 0.54
Including 27.6 54.0 26.4 1.35 0.18 19 0.23 0.74
Including 29.0 32.0 3.0 2.04 0.21 22 0.17 1.09
Including 50.0 54.0 4.0 2.24 0.25 19 0.09 0.21
MB-2019-02 17.0 48.0 31.0 STK 0.88 0.12 14 0.12 0.65
Including 17.0 40.3 23.3 1.06 0.13 17 0.14 0.80
Including 17.0 33.3 16.3 1.43 0.16 21 0.17 1.03
Including 17.0 21.0 4.0 3.39 0.14 45 0.31 1.72
MB-2019-03 11.0 32.0 21.0 STK 1.16 0.22 12 0.13 0.22
Including 11.0 21.0 10.0 2.40 0.36 22 0.10 0.22
Including 11.0 18.0 7.0 3.26 0.43 26 0.10 0.21
MB-2019-05 15.0 23.0 8.0 STK 1.43 0.26 12 0.05 0.12
Including 16.0 20.1 4.1 2.55 0.35 16 0.03 0.13
MB-2019-06 13.3 19.2 5.9 0.25 0.02 1 0.01 0.03
Note: The true thickness is ranging from 75 per cent to 95 per cent of
the core intercepts.
"Puma is extremely pleased with the progress achieved to date which culminated with the 2019 drilling program. Since the involvement of Puma in the Murray Brook area, about $2.4-million have been invested in exploration work, metallurgical work, geological model interpretation and mine potential design reviews. The results and the data collected continue to provide strong support for defining further extensions to the known deposit, defined by the 2017 NI 43-101 report, along with improving the discovery potential for new lenses along the Caribou horizon and an overall derisking of the project," noted Dominique Gagne, vice-president, exploration, at Puma Exploration.
Copper stringer zone
The geologists are currently working on the review of the available core from the drill results and lithologies from 2011 to 2013. The interpretation of this previous drilling program suggests that this copper stringer zone extends from surface to at least a depth of 170 metres with an apparent thickness varying from 1.6 metres to 26.6 metres (see attached table). These types of copper stringers adjacent to a massive sulphide deposit are common and to be expected. This leads to confidence in the company's understanding and potential for the Murray Brook deposit and setting of drill targets.
PREVIOUS DRILL HOLES INTERPRETED TO BE PART OF THE COPPER STRINGER ZONE
DDH No. From To Length Lithology Cu Au Ag Pb Zn
(m) (m) (m) (%) (g/t) (g/t) (%) (%)
MB-2011-58 98.9 105.0 6.1 STK 1.15 0.12 6.50 0.05 0.18
MB-2011-129 84.0 88.5 4.6 STK 1.27 0.17 11.58 0.09 0.26
MB-2012-137 169.8 177.0 7.2 STK 1.02 0.05 6.08 0.05 0.17
MB-2011-139 170.0 173.0 3.0 STK 1.10 0.16 7.00 0.04 0.09
MB-2012-140 132.0 133.6 1.6 STK 1.18 0.08 8.41 0.06 0.17
MB-2012-142 109.8 123.1 13.3 STK 1.09 0.21 11.86 0.14 0.52
Note: The true thickness is ranging from 70 per cent to 90 per cent
of the core intercepts.
Marcel Robillard, president and chief executive officer, stated: "We are very pleased with the discovery of a new copper stringers zone located just adjacent to the Murray Brook deposit. It shows that the Murray Brook property is still underexplored and the potential for new finds are possible on the entire 8,800 hectares land package. The technical team is currently planning follow-up drilling on the new discovery to outline its shape and true width and also on additional targets located within less than 250 metres of the know[n] deposit."
Gossan zone
Additionally, during the January, 2019, drilling program, the gossan zone defined and mined by Novagold in the 1990s was also intersected with similar gold, silver and lead grade found. Between 1989 and 1992, Novagold mined 2.7 million tonnes of the gold-enriched gossan cap overlying the sulphide deposit at Murray Brook and recovered 45,000 ounces of gold and 315,000 ounces of silver (source: New Brunswick government). Drill hole MB17-03 returned 0.96 gram per tonne gold, 255 grams per tonne silver and 5.95 per cent lead over 6.0 metres (see attached table).
DRILL RESULTS OF THE GOSSAN ZONE
DDH No. From To Length Lithology Cu Au Ag Pb Zn
(m) (m) (m) (%) (g/t) (g/t) (%) (%)
MB-2017-03 21.0 27.0 6.0 Gossan 0.96 255 0.08 5.95 0.01
MB-2019-03 6.6 11.0 4.4 Gossan 1.09 80 0.05 0.38 0.02
MB-2019-04 15.0 19.5 4.5 Gossan 0.23 23 0.09 0.34 0.39
MB-2019-05 13.0 15.0 2.0 Gossan 1.09 10 0.18 0.06 0.03
MB-2019-07 8.4 10.9 2.5 Gossan 0.19 18 0.10 0.53 0.03
At the end of the operation, Novagold reported resources left in the pit, at a cut-off grade of one gram per tonne gold, about 18,911 ounces of gold and 582,369 ounces of silver (Novagold internal memo). Puma has not taken steps to identify what work needs to be undertaken to upgrade or verify the Novagold's historical resource estimate to current mineral resources or mineral reserves. A qualified person from Puma or independent third party has not done sufficient work to classify the historical resource estimate as a current resource estimate or current mineral reserves. Puma is not treating the historical resource estimate as a current resource estimate or mineral reserves. There is no certainty that additional work will replicate the initial results.
About the Murray Brook project
The Murray Brook project consists of three distinct contiguous areas that cover 8,800 hectares and more than 18 kilometres of the favourable rocks that host the operating Caribou mine (Trevali Mining Corp.), the Murray Brook deposit and the past-operating Restigouche mine (Trevali Mining). From east to west, the Murray Brook project comprises the Murray Brook East property (No. 4925), the Murray Brook mining lease (No. 252) and the Murray Brook West property (No. 7846).
About the Murray Brook deposit
The Murray Brook deposit (mining lease No. 252) covers an area of 484 hectares with a currently defined measured and indicated mineral resources of 5.28 million tonnes averaging 5.24 per cent zinc, 1.80 per cent lead, 0.46 per cent copper, 68.9 grams per tonne silver and 0.65 gram per tonne gold. The core of this mineral resource occurs in the West zone, which is 200 metres wide, extending from surface to 300 metres vertical, and the true thickness of the massive sulphide body varies from 75 metres to 100 metres. The East zone (copper/gold) is 100 metres wide, also extending from surface to 300 vertical metres, and is mainly mineralized with gold and copper. On Feb. 20, 2017, a National Instrument 43-101 report was accepted and filed on SEDAR.
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-per-cent beneficial interest in the Murray Brook property, the wholly owned Turgeon zinc-copper project and the Nicholas-Denys project -- all located in the Bathurst mining camp of New Brunswick; as well as an equity interest in BWR Resources, exploring in Manitoba. Puma's objective for the coming year is to focus its exploration efforts in New Brunswick and advance the Murray Brook deposit.
Qualified persons and quality assurance/quality control
The content of this press release was prepared by Marcel Robillard, PGeo, president, and Dominique Gagne, PGeo, vice-president, exploration, of Puma Exploration, qualified persons as defined by NI 43-101, who supervised the preparation and technical information that forms the basis for this news release. Mr. Robillard and Mr. Gagne are not independent of the company as both are officers and shareholders thereof.
All sampling, drilling, testing and analysis are conducted using rigorous quality assurance/quality control procedures to ensure reliability and validity of results beyond basic regulatory guidelines. The driller is responsible for insuring that the core placed in boxes is in correct order and marking the length tags for each rod length of core as well as the inside of the core boxes where the tag is located. This step is examined by the technician and supervised by the on-duty project geologist. The driller picks up core boxes from the drill site and takes them to the drill core logging facilities in Bathurst.
Boxes are then laid out on logging tables and checked to make sure that the core is continuous and in the right order in each box. Geological logging of core is conducted and sample positions are marked to conform to lithological/alteration changes. Sample numbers are written inside of the core boxes corresponding to preprinted sample tags. Chalk lines are marked down to identify the axis of core and boxes for sampling are moved to cutting area. Diamond saw blade cutters are used to cut the core in half.
Core boxes are returned to their places in order on the logging tables. Strong plastic rock sample bags are labelled with sample's number on the outside and the sample tags are inserted inside. Then, one-half of the core is placed in its respective sample bag. The second half is kept at the Alliance warehouse for future reference.
The samples were prepared, sent to and processed at ALS Val d'Or in Quebec and ALS Sudbury in Ontario. All samples were assayed by ME-ICP41 method and gold was assayed by AU-AA26 method. Quality assurance and quality control are monitored by the analysis of blanks, reference material and replicate samples at a frequency of one of each per 30 samples. For quality assurance/quality control, there are typically eight standards runs for each batch of 25. A duplicate is done at least once every 50 samples and no blanks are run. Pulps are currently stored in the lab in labelled brown sealed bags, which in turn are stored in organized labelled boxes. Coarse rejects are stored in labelled 18-litre pails on pallets inside the warehouse.
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