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Puma Exploration Inc (2)
Symbol PUMA
Shares Issued 28,459,974
Close 2019-11-06 C$ 0.15
Market Cap C$ 4,268,996
Recent Sedar Documents

Puma drills 120 m of 0.39 g/t Au at Murray Brook

2019-11-06 14:29 ET - News Release

Mr. Marcel Robillard reports

PUMA LAUNCHES A PRECIOUS METALS EVALUATION PROGRAM (PMEP) ON THE MURRAY BROOK DEPOSIT

Puma Exploration Inc. has begun a precious metals evaluation program (PMEP) on the Murray Brook deposit. The first 207 samples, covering two holes of the 2018 metallurgical drilling program, have been received from the laboratory for gold assaying. In hole MB18-07, the massive sulphide contains a broad gold and silver enrichment over its entire length with 0.67 gram per tonne Au and 96 g/t Ag over 87 metres. The higher gold results obtained in this hole are located at the foot-wall contact with the altered sediments with 1.15 g/t Au and 87 g/t Ag over 22 m.

                  SIGNIFICANT GOLD DRILL RESULTS FROM THE ONGOING PMEP

Drill holes   From     To  Length    ALS*  Caribou Lab**  Caribou Lab**  Caribou Lab**
No.            (m)    (m)     (m)  Au g/t         Ag g/t      Zn + Pb %           Cu %

MB2018-05    110.0  230.0   120.0    0.39             70           8.20           0.11
including    180.0  230.0    50.0    0.68             95          11.77           0.13
including    193.0  213.0    20.0    0.82            172          20.73           0.12
MB2018-07    155.0  242.0    87.0    0.62             96           9.20           0.13
including    155.0  168.0    13.0    0.61            146          12.74           0.14
including    181.0  193.0    12.0    0.75            243          21.39           0.19
including    220.0  242.0    22.0    1.15             87          11.32           0.23

* New gold results from the current precious metals evaluation program. 
** Silver and base metals assayed at Caribou mine lab. Results released 
on Aug. 29, 2018 (see news).

The Murray Brook deposit contains precious metals in its main three metallogenic subdomains, which are, from surface to bottom: the gossan zone, the oxide zone and the main massive sulphide zone. The evaluation program includes the study of the gold and silver zonation, the precious metals association, and respective recovery within the main three metallogenic subdomains of the Murray Brook deposit. The different mining and milling options available are also being evaluated to recover the maximum value of the precious metals contained.

"The PMEP and gold assaying program will allow Puma to cost-effectively enhance the understanding of the polymetallic mineralization of the Murray Brook deposit in relation to its precious metal potential. The current programs are conducted on the in-hand core drilled from Votorantim, Puma and Trevali previous programs in order to get the most benefit from the previous drilling investments," notes Marcel Robillard, president and chief executive officer of Puma Exploration.

Highlights of current PMEP:

  • An additional 650 samples from the 2018 metallurgical drilling program (six holes) are currently prepared to be sent for gold assays.
  • Four holes for 400 m of the 2018 geotechnical drilling program were never assayed for precious and base metals.
  • Approximately 1.2 megatonnes of gossan material was mined at the Murray Brook site between 1989 and 1992. This was treated for gold and silver recovery using an agglomeration vat-leaching cyanidation process.
  • A total of 44,500 ounces of Au and 316,000 ounces of Ag were recovered from the enclosed vat leach year-round mining operation in approximately three years. The capacity was 1,000 tonnes per day with gold recoveries of 90 per cent after 16 hours of leach time.
  • At the end of 1998, Novagold estimated a historical resource of 390,000 tonnes of the Gossan material left in the pit at one g/t Au cut-off grade containing 18,933 ounces of gold (1.51 g/t Au) and 583,043 ounces of silver (46.5 g/t Ag).
  • The initial review indicates that 15 previous holes intersected the gossan over thickness varying from one m to 45 m for a total of 180 m of gossan that was never assayed.
  • Historical resources from 2013 indicated that the oxide zone of the Murray Brook deposit represents 1,283,000 tonnes at 0.38 g/t Au, 38.4 g/t Ag, 0.93 per cent copper and 3.41 per cent zinc plus lead containing 15,800 ounces of gold, 1.6 million ounces of silver and 26.3 million pounds of copper.
  • Historical resources from 2013 indicated that the sulphide zone of the Murray Brook deposit represents 17,884,000 tonnes at 0.59 g/t Au, 41.7 g/t Ag, 0.47 per cent Cu and 3.72 per cent Zn plus Pb containing 338,200 ounces of gold, 23.9 million ounces of silver and 183.6 million pounds of copper.

              SELECTED DRILL RESULTS FOR GOLD AND SILVER
                    CONTENT IN THE MASSIVE SULPHIDE

Hole ID        From      To  Length  Au g/t  Ag g/t   Zn %  Pb %  Cu %

MB-2011-04   150.00  213.00   63.00    1.50      49   2.61  1.35  0.45
including    195.00  212.00   17.00    2.00      48   2.95  1.48  0.48
MB-2011-08     8.00   43.00   35.00    1.64      55   2.15  1.28  0.29
MB-2011-10   201.50  216.00   14.50    2.04      89   5.92  2.76  0.43
MB-2011-14   203.00  217.00   14.00    2.01      83  11.34  2.38  0.18
MB-2011-39   189.00  214.00   25.00    1.28     101   9.12  3.26  0.17
MB-2011-41    25.00  130.00  105.00    1.05      42   1.79  0.82  0.85
including     26.00   32.00    6.00    2.12      84   2.04  1.40  0.55
MB-2011-44    69.00   94.00   25.00    1.34      52   2.07  1.14  0.30
MB-2011-49   129.00  162.00   33.00    1.70     125   7.10  3.13  0.35
including    138.00  157.00   19.00    2.01     138   8.18  3.88  0.39
MB-2011-52   208.00  218.00   10.00    2.18     146   9.46  4.16  0.56
MB-2011-63   203.00  246.00   43.00    1.25      74   3.65  1.62  0.27
including    222.00  239.00   17.00    2.01     116   5.89  2.57  0.45
MB-2012-66    28.05   62.00   33.95    1.48      61   2.65  1.38  0.30
incl.         28.05   40.00   11.95    2.02      63   2.08  1.22  0.40
MB-2012-70   211.00  237.00   26.00    1.47     137  10.73  4.20  0.39
including    222.00  233.00   11.00    2.53     173  10.90  4.79  0.54
MB-2012-77   166.00  226.00   60.00    1.24      70   4.43  1.71  0.25
including    204.00  224.00   20.00    2.74      80   5.69  1.73  0.55
MB-2012-78    12.00   22.00   10.00    1.82      50   1.97  1.02  1.64
MB-2012-80    90.60  111.00   20.40    1.44      57   2.45  1.21  0.28
MB-2012-88    89.45  113.50   24.05    1.33      58   3.10  1.37  0.34
MB-2012-90   151.16  240.00   88.84    1.17     103   6.99  2.92  0.20
including    215.00  240.00   25.00    2.60     124   8.38  4.11  0.42
MB-2012-91   109.00  162.00   53.00    1.02      55   2.46  1.22  0.31
MB-2012-94   134.00  196.10   62.10    1.24      41   1.88  0.97  0.42
MB-2012-97   125.00  180.00   55.00    1.30      64   2.63  1.22  0.38
MB-2012-99   202.00  238.00   36.00    2.01      46   1.91  0.94  0.93
including    203.00  218.00   15.00    2.33      60   1.82  0.94  1.46
MB-2012-101  118.00  160.00   42.00    1.11      53   2.25  1.12  0.32
MB-2012-104  165.00  240.00   75.00    1.19      46   1.73  0.96  0.65
including    214.00  240.00   26.00    1.80      57   2.04  1.24  0.45
MB-2012-121   42.00  136.20   94.20    1.07      51   2.25  1.00  0.46
including     42.00   58.00   16.00    2.21      66   3.13  1.19  0.33
MB-2012-132  162.00  202.00   40.00    1.32     110   9.49  3.16  0.14
MB-2012-161  177.00  247.00   70.00    1.18      93   6.04  2.14  0.28
including    226.00  246.00   20.00    2.59     109   8.12  2.87  0.44
MB-2012-162  219.10  238.15   19.05    2.16      47   1.48  1.04  1.94
including    224.00  234.00   10.00    2.72      58   1.85  1.43  0.64 

Qualified persons and quality control/assurance control

Technical information provided in this news release was prepared and reviewed by Mr. Robillard, PGeo, qualified person 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-V) accepts responsibility for the adequacy or accuracy of this release. Mr. Robillard is not independent of the company, as he is president of Puma Exploration. The samples are prepared, sent, processed at ALS Moncton, N.B. All samples were assays by AU-AA26 method. Quality assurance/quality control are monitored by the analysis of blanks, reference material and replicate samples at a frequency of one of each per 30 samples.

About Puma Exploration Inc.

Puma is a Canadian mineral exploration company with advanced- and early-stage precious and base metals projects in Canada. While the priority remains to secure and finalize the acquisition of the Murray Brook project in New Brunswick, the emphasis will be directed to execute its DEAR (development, exploration, acquisition and royalties/ownership) strategy to generate value to its shareholders.

We seek Safe Harbor.

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