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Puma Exploration Inc (2)
Symbol PUMA
Shares Issued 74,777,174
Close 2021-02-17 C$ 0.205
Recent Sedar Documents

ORIGINAL: Puma Exploration Reports High-Grade Gold (52.1 g/t Au) and Silver (95.5 g/t Ag) Assays from the Pepitos Zone on the Williams Brook Property, NB, Canada

2021-02-18 13:10 ET - News Release

RIMOUSKI, Quebec, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is pleased to report assays results for the surface discoveries of Visible Gold (VG) at the Pepitos Gold Zone (see news releases 2020-11-12, 2020-11-19) as well as additional new results for the O’Neil Showing (see news releases 2020-09-01, 2020-09-22, 2020-10-01) on the Williams Brook Gold property.

Samples collected at the Pepitos Gold Zone from quartz veins (3) contain fine specks of Visible Gold (VG) graded respectively 52.10 g/t Au and 95.5 g/t Ag, 16.15 g/t Au and 58.0 g/t Ag, and 15.05 g/t Au. Other high-grade gold results received from the Pepitos Gold Zone include 13.10 g/t Au, 4.87 g/t Au, 3.94 g/t Au and 3.23 g/t Au (see Figure 1). All significant gold assays for the Pepitos Gold Zone and the O’Neil Gold Zone are listed in the Appendices 1 and 2.

Highlights and Current Status

  • Pepitos assays grading : 52.1 g/t Au, 16.1 g/t Au, 15.0 g/t Au, 13.1 g/t Au, 4.87 g/t Au*
  • O’Neil new assays grading : 32.8 g/t Au, 23.1 g/t Au, 16.9 g/t Au, 8.24 g/t Au, 6.14 g/t Au*
  • Pervasive Silver-enrichment includes: 95.5 g/t Ag, 57.3 g/t Ag, 48.0 g/t Ag, 25.6 g/t Ag, 13.6 g/t Ag*
  • The O’Neil Gold Trend (OGT) extending over 5 km has never been drilled
  • District-scale Airborne VTEM survey of the Triple Fault Gold Project in progress (1,100km completed)
  • Assays are pending from the Lynx, Chubby, and Moose Gold Zones

*Rock chip and grab samples are selective by nature and may not represent the true grade or style of mineralization across the property.

"We are very satisfied with the initial surface sampling at Pepitos Gold Zone which confirmed and expanded the continuous known high-grade gold system on the Williams Brook property. Since the initial discovery of the O’Neil high-grade gold system, the trenching and stripping program at Pepitos expanded the surface high-grade gold mineralisation for more than 75 meters. Furthermore, several high-grade silver veins were identified and could add significant value to the project," stated Marcel Robillard, President and CEO of Puma Exploration (PUMA TSX-V). "We are excited to have received the additional assays results for the Lynx Zone (see news release 2020-10-22) and the first set of assays for the Chubby and Moose Zones,” added Marcel Robillard.

Figure 1: Pepitos Gold Zone Location and Highligths

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c39ff7a4-10af-44d8-bd9c-424d5907b90f

The sampling program at the Pepitos Gold Zone confirmed the presence of silver-rich, polymetallic quartz veins on the Williams Brook property. These silver and polymetallic veins are an integral and representative part of the geological model interpreted to be at Williams Brook. Table 1 shows evidence of silver enrichment and polymetallic veins at the Pepitos Gold Zone.

Table 1: Selected Silver-Rich Polymetallic Results*

SampleXYLithologyTypeTarget/AreaAu
(g/t)
Ag
(g/t)
Bi
(ppm)
Pb
(ppm)
Zn
(ppm)
B4851706602205259089Quartz veino/cPepitos52.1095.5023996304520
B4851646602175259090Quartz veino/cPepitos16.1558.0011597106330
B4849806602165259091Quartz veino/cPepitos0.2148.0010379902740
B4848776602155259093Quartz veino/cPepitos0.0125.60702310710
B4848756602135259094Quartz veino/cPepitos0.4721.2057941417
B4849816602145259090Rhyoliteo/cPepitos0.0218.20603390998
B4849926602085259096Quartz veino/cPepitos0.2011.00321890560
B4849796602165259091Quartz veino/cPepitos0.1410.9053535560
B4848736602125259095Quartz veino/cPepitos0.229.331626990

*Rock chip and grab samples are selective by nature and may not represent the true grade or style of mineralization across the property.

The Williams Brook Gold property, which was the focus of the 2020 Exploration Program, is part of the district-scale Tripe Fault Gold Project, recently acquired in 2020 in New Brunswick, Canada. The 2020 Exploration Program included primarily prospecting, mapping, trenching and stripping concentrated on the O’Neil Gold Trend (see Figure 2) followed over 5 km in length.

Figure 2: The Williams Brook Property O’Neil Gold Trend (OGT)

Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/36dbb523-593b-4063-873a-e9a6f7f66b37

The latest important discoveries on the Williams Brook Gold property are Visible Gold (VG) found at the Lynx Gold Zone, with pervasive antimony and copper oxides mineralization at the Lynx and Chubby Gold Zones. Lastly, the Moose Zone represents the farthest mineralized zone (650 m), located along strike of the O’Neil Showing (see Figure 3) hosting similar altered rhyolite, quartz veins and major structures. Samples results are still pending for the Lynx, Chubby and Moose areas and will be released once available.

Figure 3: High-Grade Gold O’Neil Showing

Figure 3 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1669d5b0-6808-49be-9d78-087f50077b82

O’NEIL GOLD TREND (OGT)
The O’Neil Gold Trend (OGT) is represented as a pervasive altered and brecciated rhyolite unit hosting significant gold showings and occurences followed by trenching over a strike length of 5.0 km. The favourable unit (rhyolite) is similar and parallel to the structures hosting the “Williams 1” and “Williams 2” Gold Zones with selected drill results of 11.2 g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over 23m.

These trends are interpreted to be related to a major rifting in the New Brunswick Geological events and could represent a low sulphidation epithermal gold system. Along the OGT, the width of the altered horizon varies from 5 to 250 meters with an average apparent thickness of 150 meters. Numerous quartz veins, quartz veinlets, stockworks, and breccias were observed mostly perpendicular to the major trend and contain the gold mineralization. The OGT has never been drilled and many gold zones were discovered during the summer 2020 exploration campaign. Assays are still pending for the Lynx, Chubby, and Moose Gold Zones.

TRIPLE FAULT GOLD PROJECT
The Triple Fault Gold Project includes three (3) properties named Williams Brook Gold, Jonpol Gold, and Portage Lake, covering more than 19,500 hectares of favorable gold exploration land package. The project is located about 60 km west of Bathurst with the paved road cross-cutting the property.

Puma is currently focusing its field work on its first priority, the Williams Brook Gold property. The Williams Brook Gold property includes selected drill results of 11.2 g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over 23m, gold occurrences grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 g/t Au in bedrock, numerous gold soil anomalies and extremely anomalous till samples with up to 508 gold grains that occur over an area approximately 12 by 3 kilometers.

There has been very limited drilling and exploration in the area mapped to be part of the Dunnage Zone hosting major gold deposits and gold occurrences in siluro-devonian rocks and considered as an emerging gold exploration and development district.

APPENDIX 1 : SIGNIFICANT (> 0.1 G/T AU) AT PEPITOS GOLD ZONE *

SampleLithologyTypeTarget/AreaAu
(g/t)
Ag
(g/t)
Released
B485170Quartz veinOutcropPepitos52.1095.50New
B485164Quartz veinOutcropPepitos16.1558.00New
B485154Quartz veinOutcropPepitos15.050.21New
B484990Quartz veinOutcropPepitos13.100.35New
B484993Quartz veinOutcropPepitos3.940.11New
B485169Quartz veinOutcropPepitos3.230.19New
B485152Quartz veinOutcropPepitos0.590.25New
B484875Quartz veinOutcropPepitos0.4721.20New
B484994Quartz veinOutcropPepitos0.370.22New
B484984Quartz veinOutcropPepitos0.320.08New
B485165Quartz veinOutcropPepitos0.311.88New
B485153Quartz veinOutcropPepitos0.230.05New
B484873Quartz veinOutcropPepitos0.229.33New
B485171Quartz veinOutcropPepitos0.223.52New
B484980Quartz veinOutcropPepitos0.2148.00New
B484992Quartz veinOutcropPepitos0.2011.00New
B484979Quartz veinOutcropPepitos0.1410.90New
B484981RhyoliteOutcropPepitos0.0218.20New
B484877Quartz veinOutcropPepitos0.0125.60New

*Rock chip and grab samples are selective by nature and may not represent the true grade or style of mineralization across the property.

APPENDIX 2 : SIGNIFICANT (> 0.2 G/T AU) AT O’NEIL GOLD ZONE *

SampleLithologyTypeTarget/AreaAu
(g/t)
Ag
(g/t)
Released
PA-20-017Quartz veinOutcropO'Neil128.0021.7001/10/20
A0753941Quartz veinOutcropO'Neil44.4013.6501/09/20
A0753906Quartz veinOutcropO'Neil38.802.0101/09/20
A0753658Quartz veinOutcropO'Neil32.808.23NEW
B484704Quartz veinOutcropO'Neil23.100.67NEW
PA-20-016Quartz veinOutcropO'Neil21.006.4001/09/20
A0753942Quartz veinOutcropO'Neil16.900.5422/09/20
PA-20-020Quartz veinOutcropO'Neil15.951.4001/09/20
PD20-10Quartz veinOutcropO'Neil8.241.7801/09/20
A0753904Quartz veinOutcropO'Neil7.382.6101/09/20
A0753701Quartz veinOutcropO'Neil6.871.33NEW
A0753905Quartz veinOutcropO'Neil6.630.6501/09/20
A0753900Quartz veinOutcropO'Neil6.140.5401/09/20
A0753897Quartz veinOutcropO'Neil5.550.4801/09/20
B485013Quartz veinOutcropO'Neil4.870.71NEW
A0753472Quartz veinOutcropO'Neil3.780.95NEW
B484705Quartz veinOutcropO'Neil3.780.69NEW
A0753901Quartz veinOutcropO'Neil3.570.1501/09/20
B485091RhyoliteOutcropO'Neil2.990.84NEW
A0753898Quartz veinOutcropO'Neil2.941.3401/09/20
A0753651Quartz veinOutcropO'Neil2.224.5322/09/20
A0753702Quartz veinOutcropO'Neil2.040.20NEW
B484746RhyoliteOutcropO'Neil1.860.31NEW
B484703Quartz veinOutcropO'Neil1.800.14NEW
B485077Quartz veinOutcropO'Neil1.760.45NEW
B484731RhyoliteOutcropO'Neil1.591.15NEW
B484749RhyoliteOutcropO'Neil1.490.09NEW
A0753947Quartz veinOutcropO'Neil1.370.15NEW
A0753903Quartz veinOutcropO'Neil1.140.0901/09/20
B484702Quartz veinOutcropO'Neil1.050.04NEW
A0753654Quartz veinOutcropO'Neil0.970.10NEW
B484735RhyoliteOutcropO'Neil0.790.48NEW
B485071Quartz veinOutcropO'Neil0.720.56NEW
B485042RhyoliteOutcropO'Neil0.670.67NEW
A0753703Quartz veinOutcropO'Neil0.650.07NEW
B484736RhyoliteOutcropO'Neil0.600.77NEW
B485065Quartz veinOutcropO'Neil0.511.94NEW
A0753929RhyoliteOutcropO'Neil0.460.06NEW
B484732RhyoliteOutcropO'Neil0.390.20NEW
B485057Quartz veinOutcropO'Neil0.370.08NEW
B485062Quartz veinOutcropO'Neil0.371.02NEW
B484701Quartz veinOutcropO'Neil0.370.15NEW
A0753928Quartz veinOutcropO'Neil0.340.05NEW
B484730RhyoliteOutcropO'Neil0.290.13NEW
B485094RhyoliteOutcropO'Neil0.291.57NEW
A0753988RhyoliteOutcropO'Neil0.270.23NEW
B485043RhyoliteOutcropO'Neil0.270.08NEW
A0753782RhyoliteOutcropO'Neil0.250.10NEW
A0753459Quartz veinOutcropO'Neil0.250.16NEW
B484706Quartz veinOutcropO'Neil0.250.07NEW

*Rock chip and grab samples are selective by nature and may not represent the true grade or style of mineralization across the property.

QUALIFIED PERSONS
Dominique Gagné, PGeo, independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Mr. Gagné is independent of the Company.

QUALITY ASSURANCE/QUALITY CONTROL (QA/QC)
Rock samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick where each sample is dried, crushed, and pulped. The samples were crushed to 70% less than 2mm, riffle split off 1kg, pulverise split to better than 85% passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Rock sample ICP results with gold >1g/t were subjected to a metallic screening (Au-SCR24) 1kg pulp screened to 100 microns. Other screen sizes available. Duplicate 50g assay on screen undersize. Assay of entire oversize fraction.

ABOUT PUMA EXPLORATION
Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. Great efforts will be made by the Company in the coming years to deploy its DEAR strategy (Development, Exploration, Acquisition and Royalties) in order to generate maximum value for shareholders with low shares dilution.

You can visit us on Facebook / Twitter / LinkedIn
Learn more by consulting www.pumaexploration.com for further information on Puma.

Marcel Robillard, President, (418) 724-0901; president@explorationpuma.com
Arness Cordick, Communications

Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve a number of 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.

 


Figure 1: Pepitos Gold Zone Location and Highlights

Pepitos Gold Zone
Figure 2: The Williams Brook Property O'Neil Gold Trend (OGT)

O'Neil Gold Trend
Figure 3: High-Grade Gold O'Neil Showing

High-grade gold

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