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Puma Exploration Drills a New High-Grade Zone of 34.93 g/t Gold Over 3.00m Within a 16.90m Intercept Grading 6.47 g/t Gold at Williams Brook

by MikeyMike426
April 28, 2022
in News Room, PUMA, PUMA News
0
Puma Exploration Drills a New High-Grade Zone of 34.93 g/t Gold Over 3.00m Within a 16.90m Intercept Grading 6.47 g/t Gold at Williams Brook

RIMOUSKI, Quebec, April 28, 2022 — Puma Exploration Inc. (TSXV: PUMA, OTC: PUXPF) (the “Company” or “Puma”) is pleased to report a near-surface high-grade gold intersection of 34.93 g/t Au over 3.00 metres within a wider zone assaying 6.47 g/t Au over 16.90 metres in hole WB22-25. Additional high-grade intercepts include 22.28 g/t Au over 3.20 metres within a wider gold intercept of 3.97 g/t Au over 22.10 metres in hole WB22-36 and 1.00 g/t Au over 33.35 metres in hole WB22-26. These new high-grade discoveries extend by more than 300 metres to the NE, the first gold discovery made at the OGT in 2021(Figure 1).

“These first results are very exciting. Every hole intersected gold mineralization, and hole WB22-25 is one of the most impressive, with more than 34 g/t gold over 3 metres. That hole contains the highest individual gold grade since the beginning of drilling in 2021, with 183 g/t Au over 0.50 metres. We are systematically building our model and demonstrating again, step by step, the gold potential of the O’Neil Gold Trend and the entire Williams Brook Project,” said Marcel Robillard, President and CEO of Puma Exploration.

HIGHLIGHTS:

  • A new high-grade gold intersection (34,93 g/t Au over 3.0 m within a wider zone assaying 6.47 g/t Au over 16.90 m);
  • A 25 metres step-out from hole WB22-25 intersected 22.28 g/t Au over 3.20 m within a wider gold intercept of 3.97 g/t Au over 22.10 m in hole WB22-36;
  • Several other high-grade gold samples occur within a large lower-grade envelope : 183 g/t over 0.50 m, 59.60g/t Au over 0.65 m, 30.50 g/t Au over 0.30 m, 23.70 g/t Au over 0.80 m, 16.50 g/t Au over 0.70 m, 14.65 g/t Au over 0.60 m, 9.12 g/t over 0.30 m;
  • Gold mineralization appears to be associated with widespread limonitisation (Py) + sericitization, and all holes intersected the favourable OGT mineralized and altered horizon.

These holes tested a segment of approximately 200 metres to the northeast and along strike of the 2021 drilling campaign highlighted by hole WB21-02 that returned two high-grade sections of 46.94 g/t Au over 3.85 m and 28.52 g/t Au over 2.10 m (see Sept. 15, 2021 News Release). The results for an additional 2,000 metres of drilling are expected shortly.

https://ml.globenewswire.com/Resource/Download/c94efbfe-4761-44c6-a28f-a1e81f16c153?size=0
Figure 1: First 2022 drilling results at the OGT 

Today’s results include the first 19 holes for 2,389 metres of the ongoing 10,000 metres 2022 drilling campaign. Table 1 highlights significant results from this first set of holes. To date, 37 holes have been drilled in this first phase of drilling for a total of approximately 4,300 metres. Assay results are pending for an additional 2,000 metres of core already sent to the laboratory. They will be announced when received.

Table 1: Assay result highlights from reported holes

Hole IDFrom (m)To (m)Length* (m)Au (g/t)
WB22-197.0031.0024.000.20
incl.7.0022.3515.350.30
incl.7.0011.504.500.90
incl.7.257.600.358.27
WB22-208.8047.0038.200.15
incl.8.8014.605.800.32
incl.8.809.100.303.77
incl.14.0014.600.601.18
     
and34.8547.0012.150.32
incl.34.8535.150.305.10
incl.46.7547.000.254.80
WB22-219.7026.3516.650.30
incl.15.5026.3510.850.42
incl.15.5016.501.002.92
incl.22.1022.500.401.12
WB22-220.7025.0024.300.47
incl.6.1025.0018.900.60
incl.6.107.101.001.95
incl.21.3025.003.702.40
incl.21.3022.050.753.02
incl.22.0523.000.954.37
incl.24.0025.001.002.13
WB22-2310.0028.0018.000.33
incl.10.0011.001.001.34
incl.27.4528.000.557.83
WB22-246.5035.0028.500.44
incl.6.5011.855.351.12
incl.6.507.501.005.55
incl.11.4011.850.450.93
     
and18.8027.408.600.73
incl.21.3527.406.051.00
incl.20.8023.502.702.07
incl.21.3521.650.301.95
and21.6522.000.354.77
and22.4022.800.405.73
and22.8023.500.700.93
and27.1027.400.300.96


Table 1. Assay result highlights from reported holes (continued)

Hole IDFrom (m)To (m)Length* (m)Au (g/t)
WB22-251.4036.7535.353.12
incl.1.4018.3016.906.47
incl.2.005.003.0034.93
incl.2.002.900.902.61
and2.903.500.6014.65
and3.504.000.50183.00
and4.004.450.454.00
and4.455.000.550.63
     
and11.0018.307.300.60
incl.11.0012.201.201.92
and14.9015.300.402.34
incl.17.2518.301.051.05
and35.7036.751.050.61
WB22-2620.2058.0037.800.92
incl.20.2053.5533.351.00
incl.20.2034.5014.302.18
incl.20.2027.106.904.41
incl.20.2021.451.255.70
incl.25.5026.501.0022.00
incl.53.1553.550.404.31
incl.57.0058.001.001.22
WB22-2729.7032.202.500.59
incl.29.7030.650.950.92
WB22-2827.7028.951.252.89
incl.27.7028.150.456.61
 28.1528.950.800.79
WB22-2917.0079.1562.150.16
incl.17.0024.707.700.49
incl.17.0017.700.704.21
and21.0022.001.000.56
 40.0041.001.000.50
     
and57.1079.1522.050.25
incl.57.1058.000.900.87
incl.63.0064.001.001.10
incl.78.5079.150.652.97

Table 1. Assay result highlights from reported holes (continued)

Hole IDFrom (m)To (m)Length* (m)Au (g/t)
WB22-3090.5092.552.051.75
incl.90.5091.000.504.79
and91.0092.001.000.96
 111.30111.750.450.85
WB22-31NIL
WB22-323.7049.0045.300.40
incl.3.7046.3542.650.42
incl.3.7019.9516.250.97
incl.3.7010.006.302.46
incl.3.707.003.303.25
and27.2527.700.451.30
and46.0046.350.351.23
WB22-337.8048.0040.200.29
incl.7.8031.3023.500.46
incl.16.0531.3015.250.66
incl.29.9031.301.406.77
incl.30.3530.650.3030.50
WB22-3412.9031.0018.100.22
incl.12.9013.150.250.59
     
and25.4528.953.500.64
incl.26.4528.452.000.89
incl.26.4526.950.502.72
and28.0028.450.450.91
WB22-3514.0022.858.851.78
incl.14.9017.502.605.83
incl.14.9016.501.607.86
and22.2022.850.650.62
WB22-363.8025.9022.103.97
incl.3.8018.0014.205.79
incl.3.808.354.5515.72
incl.3.807.003.2022.28
incl.3.804.500.7016.50
and4.505.150.6559.60
and5.157.001.8511.35
incl.16.4018.001.606.70
and24.6525.901.253.90
WB22-372.1522.9020.750.11
incl.11.0014.703.700.50
incl.12.0013.001.000.95
incl.13.4513.850.400.79

*Stated lengths in metres are downhole core lengths and not true widths.
True widths will be calculated once more drilling confirms the geometry of the quartz-sulphide system.

Table 2: Coordinates and length of reported drill holes

DDH #Easting UTM Nad83Northing UTM Nad83Elevation (m)Az (°)Dip (°)Length (m)
WB22-19660 3545 259 522385115-45100
WB22-20660 3545 259 522385115-65101
WB22-21660 3545 259 522385160-45106
WB22-22660 3545 259 522385160-65101
WB22-23660 3635 259 487385160-4554
WB22-24660 3415 259 481386155-4588
WB22-25660 3415 259 482386155-6574
WB22-26660 3165 259 541387115-65145
WB22-27660 3235 259 461388115-4552
WB22-28660 3225 259 462388115-65143
WB22-29660 2875 259 479388115-65158
WB22-30660 2325 259 504386115-65224
WB22-31660 2355 259 577382115-65239
WB22-32660 3595 259 535385155-45136
WB22-33660 3595 259 535385155-65116
WB22-34660 3495 259 509386155-45142
WB22-35660 3495 259 509386155-65113
WB22-36660 3405 259 505387155-45156
WB22-37660 3405 259 50538715565142
19 Holes     2,389 Metres

The recently completed drill holes and field observations show the same mineralized quartz veins and stockworks with disseminated sulphides locally (pyrite, galena, sphalerite, malachite, azurite, tetrahedrite) and sporadic visible gold within widespread limonite (py) + sericite alteration (Figure 2). The alteration appears to be localized at the contact between brecciated rhyolite and sediments and along the major high-grade quartz veins.

https://ml.globenewswire.com/Resource/Download/b8094431-78e2-48ef-a910-72837ef0b936?size=0
Figure 2: Example of pervasive alteration and mineralization 

ONGOING 10,000M DRILLING PROGRAM AT THE OGT
Following the success of the initial 2021 stripping and drilling program, the 2022 drilling campaign was designed to confirm the extent at shallow depth of the alteration and mineralization found at surface along the OGT. Since drilling began in late January, more than 37 holes for 4,300 metres have been completed (Figure 3).

Puma’s technical team estimates that the 10,000 metres drilling campaign will be completed in June, after which the 2022 field exploration program will begin over the entire property. A detailed exploration program is being prepared and will be announced shortly. It will focus on first priority targets defined from the current geophysical, geochemical and drilling compilation.

https://ml.globenewswire.com/Resource/Download/cf56a4b3-c54a-442b-a5a3-d9dde162a6d0?size=0
Figure 3: Localisation of the O’Neil Gold Trend (OGT) 

QUALIFIED PERSON

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

ON-SITE QUALITY ASSURANCE/QUALITY CONTROL (“QA/QC”) MEASURES

Drill core samples are bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick, where each sample is 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 QA/QC program, the Company inserts external gold standards (low to high grade) and blanks every 20 samples in addition to standards, blanks, and duplicates. All samples over 10 g/t gold or with abundant visible gold are analyzed with gravity finish (Au-GRA22). Check assays are routinely performed for samples with visible gold to ascertain the gold content of the mineralization zone.

COVID-19 PRECAUTIONS

Puma has developed and implemented precautions and procedures compliant with Québec and New Brunswick’s health guidelines. Strict protocols are in place to ensure the safety of all staff, thereby reducing the potential of community contact and spreading of the virus.

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian-based mineral exploration company with precious metals projects located near the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. The Company is committed to its DEAR strategy (Development, Exploration, Acquisition and Royalties) to generate maximum value for shareholders with low share dilution.

Connect with us on Facebook / Twitter / LinkedIn

Visit www.explorationpuma.com for more information or contact:

Marcel Robillard,
President, (418) 750-8510;
president@explorationpuma.com 

Mia Boiridy,
Head of Investor Relations and Corporate Development, (250) 575-3305;
mboiridy@explorationpuma.com 

Learn more about the project in our most recent interview with The Head of Corporate Development, Mia Boiridy

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

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.

Tags: Atlantic CanadaCrescatExplorationGoldMarcel RobillardminingPUMA ExplorationQuentin Hennigh
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I am a 3rd generation miner who was born and raised in the silver capital of Canada, Cobalt, Ontario. For the last 10 years I have been invested in the mining sector and as a retail investor found it difficult gathering information on companies of interest. For this reason we created Insidexploration.com as a means to share our due diligence with investors all around the world. Disclosure The thoughts and opinions expressed in my articles and research reports are my own and do not represent those of the companies I write about. I often buy and sell the stocks I write about and may do so at any point in time without warning. Disclaimer My articles and research reports should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided is derived from sources believed to be accurate, but cannot be guaranteed. I do not take into account the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g. prohibitions to investments due to law, jurisdiction issues, etc.) which may exist for certain persons. I am not a registered financial advisors and one should always do your own due diligence and consult a licensed investment adviser prior to making any investment decisions. Always reference www.SEDAR.com for important risk disclosures.

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Nickel Investment Opportunities: 5 Junior Mining Companies To Keep an eye on as Nickel gains traction

Nickel Investment Opportunities: 5 Junior Mining Companies To Keep an eye on as Nickel gains traction

August 25, 2020

Golden Opportunities: 20 Junior Mining Companies To Keep An Eye On As Gold Spikes

July 14, 2020
Insidexploration Showcase

Top 20 of 2020: Part 1 of 2; Junior Mining Companies to Add to Your Watchlist

November 4, 2021

Top 20 of 2020: Part 2 of 2; Junior Mining Companies to Add to Your Watchlist

November 4, 2021
Drill Hole Interval Calculator

Drill Hole Interval Calculator

July 14, 2020

Insidexploration Beta Hunt Mine Tour – RNC Minerals

Cobalt: Discovering the Mining History Of Northern Ontario

Cobalt: Discovering the Mining History Of Northern Ontario

Kalgoorlie Super Pit Australia

Kalgoorlie Super Pit

Mike Coyle interviews Mark Selby on the New Resource Update

Mike Coyle interviews Mark Selby on the New Resource Update

Beta Hunt: Geological Report on the Kambalda Dome and Gold Deposition

Beta Hunt: Geological Report on the Kambalda Dome and Gold Deposition

RJK Announces Closing of Private Placement

RJK Announces Closing of Private Placement

May 25, 2022
Noble Mineral Exploration Update

Noble Mineral Exploration Update

May 19, 2022
Newrange Provides Exploration Update

Newrange Provides Exploration Update

May 17, 2022
ArcPacific Reports that GoldSpot Identifies 24 Targets and Confirms Presence of Porphyry System at LMSL Copper-Gold-Molybdenum-Silver Project

ArcPacific Reports that GoldSpot Identifies 24 Targets and Confirms Presence of Porphyry System at LMSL Copper-Gold-Molybdenum-Silver Project

May 16, 2022
Canada Nickel Takes Important Step in Crawford Nickel Project Permitting Process

Canada Nickel Takes Important Step in Crawford Nickel Project Permitting Process

May 12, 2022

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Nickel Investment Opportunities: 5 Junior Mining Companies To Keep an eye on as Nickel gains traction

Nickel Investment Opportunities: 5 Junior Mining Companies To Keep an eye on as Nickel gains traction

by MikeyMike426
August 25, 2020

...

Golden Opportunities: 20 Junior Mining Companies To Keep An Eye On As Gold Spikes

by MikeyMike426
July 14, 2020

...

Insidexploration Showcase

Top 20 of 2020: Part 1 of 2; Junior Mining Companies to Add to Your Watchlist

by MikeyMike426
November 4, 2021

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