20:39:17 EDT Thu 30 Mar 2023
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Puma Exploration Inc (2)
Symbol PUMA
Shares Issued 119,620,521
Close 2023-03-15 C$ 0.17
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Puma Exploration to begin drilling at Williams Brook

2023-03-15 10:11 ET - News Release

Mr. Marcel Robillard reports


Puma Exploration Inc. will begin drilling shortly on its 100-per-cent-owned Williams Brook gold project in northern New Brunswick, Atlantic Canada. A technical crew will be mobilized next week in preparation for the company's planned 2023 drilling program.

The first phase of drilling will focus on definition and expansion of the high-grade gold intercepts (see attached table) and interpreted high-grade gold shoots at the Lynx gold zone (LGZ). The LGZ is Puma's main area of focus. The zone currently covers 750 metres of strike and a 75-metre width and has been defined to a depth of approximately 100 metres.

Since 2021, Puma has systematically drilled 13,100 metres at the LGZ along the favourable rhyolite/sediment contact that hosts gold-bearing quartz veins. Recent data compilation has identified three main areas of gold enrichment with several potential high-grade gold shoots that plunge 25 degrees northeast. Extending these high-grade gold shoots at depth is Puma's priority in the coming 2023 drilling program.

Marcel Robillard, president, and chief executive officer, commented: "The Lynx gold zone has significant expansion potential. Our upcoming drilling season will focus on confirming and expanding the interpreted high-grade gold shoots at depth and stepout drilling will add to the zone's gold inventory. The Williams Brook gold project represents one of the hottest gold exploration plays in New Brunswick, and we're excited to further develop our asset in 2023."

Following this first 3,000 to 4,000 metres of drilling for the high-grade gold depth expansion of the Lynx gold zone, the drill rig will be moved to test the favourable rhyolite/sediment contact along a three-kilometre extension to the northeast, which is underlain by a large magnetic anomaly that could represent the source of the gold mineralization. The planned 3,000 metres of drilling will target high-grade mineralization sampled during last fall's surface trenching program at the Lynx gold zone.

Main objectives of the 2023 drilling program:

  • Test the interpreted high-grade gold shoots in the core of the Lynx Gold zone and extend them beyond 100-metre depth;
  • Confirm that the high-grade gold mineralization sampled at surface along the three-kilometre northeast extension of the LGZ continues at depth;
  • Define an internal block model of the gold mineralization at surface in preparation for the selection of the coming 4,000-tonne bulk sample (see Feb. 28, 2023, news release);
  • Test new regional targets along strike beyond the three-kilometre extension.

Coming gold investor events

Puma invites shareholders and interested parties to schedule a meeting at the coming conferences to discuss the company's recent news and proposed developments:

  • Swiss Mining Institute Conference in Zurich -- March 21 to March 22, 2023;
  • Deutsche Goldmesse in Frankfurt -- May 5 to May 6, 2023;
  • 121 Mining Investment Event in London -- May 9 to May 10, 2023.

About the Williams Brook gold project

Puma's flagship Williams Brook gold project covers more than 50,000 hectares in northern New Brunswick, an established and mining-friendly jurisdiction, near paved roads and with excellent infrastructure nearby. Since 2021, Puma has made four 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 metres of drilling and a 4,000-tonne bulk sample.

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.

About Puma Exploration Inc.

Puma Exploration is a Canadian-based mineral exploration company with precious metal projects near New Brunswick (Canada's famous Bathurst mining camp (BMC)). The company is committed to deploying 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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