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Puma Exploration Inc (2)
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Close 2023-01-19 C$ 0.21
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Puma outlines fourth gold zone at Williams Brook

2023-01-19 13:35 ET - News Release

Mr. Marcel Robillard reports


Puma Exploration Inc. has discovered a fourth gold zone on its 100-per-cent-owned Williams Brook gold project in northern New Brunswick, Atlantic Canada. Grab samples from the new Panthera gold zone returned up to 9.87 grams per tonne gold. The zone was explored briefly last fall, and more work is planned for 2023. Puma's work continues to prove the presence of a large porphyry/epithermal gold system at Williams Brook with the potential for multiple deposits on the large land package.

Panthera gold zone

The Panthera gold zone is located about 12 kilometres northeast of the Lynx gold zone, along strike of the O'Neil gold trend. The discovery has the same geological characteristics as the other gold zones on the Williams Brook property: altered rhyolite containing mineralized quartz veins. Last fall, three trenches were excavated for a total of 310 metres. The trenches exposed gold in quartz veins at surface that graded 9.87 g/t Au, 8.67 g/t Au, 7.45 g/t Au, 6.18 /gt Au, 5.92 g/t Au, 5.15 g/t Au, 4.05 g/t gold and 3.27 g/t Au.

This new gold discovery, similar to the Lynx gold zone, is located at the contact of a low/high magnetic anomaly and coincides with significant gold enrichment in soil samples collected by Puma in 2022. Puma's soil survey covered 3.8 kilometres by 1.5 kilometres and identified six distinct gold anomalies over a 2.5-kilometre trend. The success of the preliminary sampling on the newly identified Panthera gold zone is very encouraging, and follow-up work is planned for 2023.

The reader is cautioned that grab samples are selective by nature and may not represent the true metal content of the mineralized zone.

About the Williams Brook gold project

The Williams Brook project comprises six claim blocks covering more than 46,000 hectares in an established and mining-friendly jurisdiction, near paved roads and with excellent infrastructure nearby. The land package is located near the Rocky Brook Millstream fault, a major regional structure formed during the Appalachian orogeny and a significant control for gold deposition in the region.

The Lynx gold zone is Puma's main area of focus. It is interpreted to be a mineralized felsic dome within a large gold system. It was discovered in 2020 by high-grade surface samples and later recognized at depth in 2021 by hole WB21-02, which intersected 5.55 g/t Au over 50.15 metres from surface, including two high-grade gold veins with 9.88 g/t Au over 8.60 m and 46.94 g/t Au over 3.85 m. A follow-up 10,000-metre (113-hole) drilling program identified several new high-grade veins at Lynx, including 51.73 g/t Au over 1.85 m (WB 22-66), 34.93 g/t Au over 3.00 m (WB22-23) and 22.38 g/t Au over 3.20 m (WB22-36) and identified three gold enrichment zones along the 750-metre strike length stripped to date.

A large orogenic/epithermal gold system is present at Williams Brook. Surface exploration work has identified several additional gold targets along the extension of the O'Neil gold trend and other gold trends on the large land package, including the Cougar, Jaguar and Panthera gold zones.

Qualified person

Dominique Gagne, PGeo, a qualified person as defined by National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release.

On-site quality assurance/quality control measures

Grab samples were bagged, sealed and sent to the facility of ALS Chemex in Moncton, N.B., where each sample was dried, crushed and pulped before being fire assayed (Au-ICP21). The remaining coarse reject portions of the samples remain in storage for further work or verification as needed. As part of its quality assurance/quality control program, the company inserts external gold standards (low grade to high grade) and blanks for every batch of surface samples. All samples over 10 g/t gold or with abundant visible gold are analyzed with a gravity finish (Au-GRA22).

Check assays are routinely performed for samples with visible gold to ascertain the gold content of the mineralization zone.

About Puma Exploration Inc.

Puma Exploration is a Canadian-based mineral exploration company with precious metal projects located near the famous Bathurst mining camp in New Brunswick, Canada. The company is committed to its DEAR (development, exploration, acquisition and royalties) strategy to generate maximum value for shareholders with low share dilution.

We seek Safe Harbor.

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