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News Release -  January 14, 2022 4:33 PM ET    - Editorial Release

 

 

Puma Launches 2022 Exploration Program, including 10,000 m Drill Program, Announces up to 51.70 G/T Gold in Surface Grab Samples*

 

NEW YORK, NY, January 14, 2022 /Sector Newswire/ -- Puma Exploration Inc. (TSX-V: PUMA) (US Listing: PUXPF) (Frankfurt: 4P8A) this week announced the launch of its 2022 Exploration Program at its Flagship Williams Brook Gold Property located in New Brunswick, Atlantic-Canada. This news falls on the heels of Puma Exploration sharing (on December 21, 2021) its fully-funded exploration strategy and program for 2022.

 

Copy of both news releases may be viewed further below in this editorial release, followed by excerpt copy of a recent Mining MarketWatch Journal review.

 

Excerpt copy of January 12, 2022 news release:

 

Puma Exploration Launches Its 2022 Exploration Program and Announces up to 51.70 G/T Gold in Surface Grab Samples*

 

Rimouski, January 12, 2022 – Puma Exploration Inc. (TSXV: PUMA, OTC: PUXP) (the “Company” or “Puma”) is pleased to announce the launch of its 2022 Exploration Program at its Flagship Williams Brook Gold Property located in New Brunswick, Atlantic-Canada. The 2022 program (see December 17, 2021, News Release) includes an initial 10,000 metres diamond drilling program that will target the most prospective areas identified to date of the O’Neil Gold Trend (“OGT”).
 

The drilling program, expected to begin on January 17, will target the most promising gold zones of the OGT discovered in 2021 through surface exploration work (see Figure 1). The inaugural 2,300 metres of drilling at the OGT’s Lynx Zone returned 5.50 g/t Au over 50.15 m in hole WB21-02 (see Sept.15, 2021, News Release). Building on that success, the 2022 drilling at the OGT will focus on the currently excavated, mapped, and sampled 750-metres trend to maximize success.

Figure 1: Location of Reported Grab Samples at the OTG and Associated First Priority Drilling Targets

 

 

Last fall, 750 grab samples were collected along the favourable rhyolite/sediment contact to confirm the continuity of gold mineralization at surface along the O’Neil Gold Trend (see Dec.8, 2021, News Release). Results from 50 grab samples received to date include 51.70 g/t Au, 28.70 g/t Au, 27.20 g/t Au, 23.10 g/t Au, 18.50 g/t Au* (see Table 1) and show that high-grade gold mineralization is both significant and appears continuous along the OGT. The first target of the 2022 10,000 metres drilling program will be an area northeast of the Lynx Gold Zone, where new grab samples returned up to 51.70 g/t Au*.
 
Table 1: Selected High-Grade Gold Results (over 1g/t Au) from Reported Grab Samples

 

  Au-AA24 Au-GRA22
Sample ID Au g/t Au g/t
D248073 6.41  
D248088 3.89  
D248089 4.11  
D248090 >10.0 51.70
D248091 8.95  
D248092 >10.0 18.55
D248093 5.05  
D248094 >10.0 28.70
D248095 1.30  
D248096 5.18  
D248007 >10.0 23.10
D248013 4.55  
D247671 6.64  
D247672 1.88  
D247673 7.91  
D247674 3.55  
D247675 1.76  
D247676 5.31  
D247677 >10.0 27.2

*The reader is cautioned that grab samples are selective by nature and may not represent the true metal content of the mineralized zone.
 
Our technical team has been very systematic in its approach to exploration over the last 18 months. The knowledge we acquired led to a very successful inaugural drilling program at the Lynx area of the O’Neil Gold Trend (“OGT”). As we embark on drilling this follow-up 10,000 metres at the OGT, the compilation of grab sample results, geophysical data, geology, and structural mapping will enable us to optimize our targets and maximize our chance of success. 2022 will be a transformational year for Puma, and investors can expect regular news as we aggressively develop the Williams Brook Gold Project. commented Marcel Robillard, President & CEO of Puma Exploration.
 
UPCOMING WEBINAR
Puma is providing an opportunity for shareholders and other interested parties to participate in a webinar on Monday, January 17, 2022, at 4:00 pm EST. Marcel Robillard, President and CEO, will provide an overview of the 2022 Exploration Program and answer questions.

 

Click on the following link https://zoom.us/webinar/register/WN_ExOOMMeHQZK7N_6d0rvPjg to register. After registering, you will receive a confirmation email containing information about joining the webinar.
 
CHANGES IN AUDIT COMMITTEE
The Company announces that Michel Fontaine, an independent director, has replaced Marcel Robillard to join Laura Arenada and Richard Thibault on the Audit Committee.
 
INVESTOR RELATIONS CONTRACT
Puma is pleased to announce that it has retained the services of MI3 Communications Inc. (“MI3”), a Montreal-based financial communications company to spearhead Puma’s investor relations. MI3 will provide various services: lead market awareness campaigns and facilitate meetings with new investors (institutional, brokers, pro-traders, mining analysts, and active high net worth investors).

 

Under the terms of the engagement, Puma has agreed to pay MI3 C$5,000/month for an initial 12-months term beginning December 1, 2021, and has granted MI3 100,000 Stock Options exercisable at C$0.40 per common share until December 1, 2023 (see Dec. 1, 2021, News Release) The MI3 agreement and all stock options granted are subject to TSXV regulatory approval.
 
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
Grab samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick, 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 QA/QC program, the Company inserts external gold standards (low 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 using 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 for community contact and spreading of the virus.
 
ABOUT PUMA EXPLORATION
Puma Exploration is a Canadian-based gold exploration company with early-stage precious metals projects in 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

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.

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.
.

CLICK HERE for full copy from source

 

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Excerpt copy of December 21, 2021 news release:

 

Puma Exploration Shares Its 2022 Exploration Strategy

 

Rimouski, December 21, 2021 – Puma Exploration Inc. (TSXV: PUMA, OTC: PUXP) (the “Company” or “Puma”) is pleased to share its fully-funded exploration strategy and program for 2022. The Company successfully closed on December 17, 2021, a brokered private placement for total gross proceeds of C$5,000,000.
 
Figure 1: 2022 Exploration strategy and planned programs

 

 

The 2022 exploration program will strategically target three (3) project areas, each with specific tasks and objectives (see figure 1). The program may be adjusted as the assay results from over 750 samples collected during the Fall 2021 surface exploration program, including the surface grab samples with visible gold (“VG”) collected in the Chubby-Moose area, are received in the coming weeks.

The final interpretation of the VTEM, MAG and Radiometric heliborne detailed surveys, drilling and mapping data, and the compilation of a new 3D geological model will further guide the 2022 exploration program.

O’NEIL GOLD TREND DRILLING PROGRAM

Puma’s priority for 2022 is launching a 10,000 metres drilling program in January 2022 that will target the O’Neil Gold trend (OGT). Trenching, stripping and drilling at the OGT in 2021confirmed continuous gold mineralization for over 750 metres with locally, very high-grade gold content. The initial 2022 drilling program will target three main areas of the OGT (see figure 2).

Figure 2: First Priority target areas of the O’Neil Gold Trend to be drilled

 

The first three (3) priority areas include:

A) The newly discovered quartz veins system with visible gold (VG) located between the Chubby and Moose gold zones (see December 8, 2021, News Release);

B) The area west of holes WB21-16 and WB21-17 where grab samples with VG were collected this fall;

C) The western extent of hole WB21-02 where 5.50 g/t Au over 50.15 m was intersected; and

D) the Petitos-O’Neil gold zones located at the southern end of the OGT

WILLIAMS BROOK PROPERTY-SCALE EXPLORATION PROGRAM

 

Following current interpretation and modelization, the summer 2022 exploration program will include property-scale exploration targeting the most prospective areas identified by the 2021 exploration programs and surveys. Property-scale, VTEM, Mag, and Radiometric surveys over the entire Williams Brook Property (see figure 3) in addition to surface exploration and highlighted several prospective areas within the 20,000 hectares land package.

Figure 3: First Priority target areas over the entire Williams Brook property

 

 

During the first quarter of 2022, Puma will generate more advanced exploration targets, including trenching and stripping (see figure 3). To date, three (3) priority areas have been identified:

  1. the entire 7 km length of the O’Neil Gold trend;

  2. the Williams 1 and Williams 2 gold trends; and,

  3. the Ramsay Brook area.

The objective of the summer exploration program at the property-scale will be to identify promising targets for an additional fully-funded 5,000 metres drilling program to be launched in the fall.

WILLIAMS BROOK CAMP-SCALE EXPLORATION PROGRAM

 

Following the current compilation work of Puma’s entire landholdings, the Company will launch a Camp-Scale Exploration program (see figure 4) in the summer of 2022 to cover the Williams Brook South, Jonpol and the Portage properties. The regional surface exploration program will include prospecting, mapping and trenching. The targets will be generated from the regional detailed heliborne geophysical survey done in 2021, the compilation of soil anomalies and the knowledge acquired over the last two years modelling the O’Neil Gold Trend discovery.

Figure 4: Camp-Scale exploration to be conducted in 2022

 

 

10% of the current $5M exploration budget is allocated to camp-scale exploration. The main objective of this program is to locate the next gold trend on those properties for the 2023 exploration program.
 

The proposed programs and exploration plans are based on current information and strategy and may change without notice following new results, acquisitions or developments. The Company will keep shareholders informed with regular new releases and communication.

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.

ABOUT PUMA EXPLORATION
Puma Exploration is a Canadian-based gold exploration company with early-stage precious metals projects in 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

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.

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.
.

CLICK HERE for full copy from source

 

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Puma Exploration is also the subject of a Mining MarketWatch Journal review, full copy of which may be viewed at https://miningmarketwatch.net/puma.htm online in an article entitled "Puma Exploration Presents Opportunity; 5.55 g/t Gold over 50 m Discovery Hole -- Building Ounces in New Brunswick".
 

Excerpt copy of recent Mining MarketWatch Journal:

 

Puma Exploration Presents Opportunity; 5.55 g/t Gold over 50 m Discovery Hole -- Building Ounces in New Brunswick

 

Puma Exploration Inc. (TSX-V: PUMA) (US Listing: PUXPF) (Frankfurt: 4P8A) is a Canadian-based mineral exploration company focused on advancing its Williams Brook Gold Property in New Brunswick, located in the same prolific geological setting as major Atlantic success stories such as Marathon Gold and Newfound Gold. Since acquiring the project in March-2020, Puma has quickly gone from virgin/grassroots ground (finding anomalous sampling in the woods) to clearing, trenching and stripping clean to expose large swaths of a 700 m long patchwork of gold laden rhyolitic bedrock (named the O'Neil Gold Trend) proximal a contact zone that runs even much longer within its claim boundaries. Puma has commenced a new 10,000 m drill program this January 2022; with plans to drill 10,000 m where quartz veining surface samples have yielded high-grades. In 2021 Puma drilled 2,360 meters (18 holes); discovery hole WB21-02, announced on September 2021, cut 5.55 g/t Au over 50.15 meters from surface, including 9.88 g/t Au over 8.60 meters and 46.94 g/t Au over 3.85 meters. The first drill holes reported show there is solid correlation between surface samples and core, presenting tremendous opportunity for investors looking to be part of a story in its early days. Puma's structural model at O'Neil Gold Trend is that of a ~N260 oriented high-grade gold bearing quartz veins network open on both side and at depth. The continued discovery of high-grade gold veins at surface bodes well for Puma's future prospects at the Williams Brook Gold Property; e.g. see...

 

● Dec. 8, 2021 Puma Exploration Discovers Large Quartz Veins at Surface With Visible Gold,

 

● Nov. 17, 2021 Puma Extends Mineralised Zone With High-Grade Samples up to 46,8 g/t Au (discovering 9 new gold bearing quartz veins, described as a "swarm of 1-5 meters thick quartz veins and veinlets extending 275 meters northeast of the Lynx Gold Zone"),

 

● Nov. 4, 2021 New Visible Gold-Bearing Zone,

 

● Oct. 14, 2021 More High-Grade Gold Veins with up to 199 g/t* Au from Surface Sampling.

 

The second round of drill results (holes 6 - 12 announced October 21, 2021) extended the gold mineralised zone beyond the rhyolite into the sediments. The third round of drill results (holes 13 - 18 announced November 11, 2021) yielded 5.11 g/t Au over 8.35 Meters within a Broader Zone Grading 0.82 g/t Au over 78.75 Meters. The prevalence of high-grade surface sampling on the O'Neil Gold Trend identified to date, coupled with the results from the first 18 drill holes, outlines what independent outside observers such as Dr. Quinton Hennigh are describing now as "almost the size of an opencast mine at this point". Dr. Hennigh believes Williams Brook is going to prove to be a significant discovery over the course of the next year or two and sees similarities to other highly successful deposits he has encountered in his career that have gone on to be many millions of ounces.

   

PUMA.V currently has a nominal market cap of ~C$38M (~99.5 million shares trading near ~C$0.38 -- this figure includes the recent $5M private placement & $922k Private Placement). The share price of PUMA.V is apt to appreciate from the current trading price as continued news flow occurs, and as the significance of what Puma Exploration possesses is better appreciated by the market.

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Figure 1. (above) -- Lynx Zone Discovery Hole on O'Neil Gold Trend at Williams Brook Gold Project (5.55 g/t Au over 50.15 meters from surface, including 9.88 g/t Au over 8.60 meters and 46.94 g/t Au over 3.85 meters.); on the right is a trench photo with clean bedrock and the drill positioned, the drill hole path (subsurface) is annotated in yellow. The grab samples on the left correspond to what was found on surface and next to that image is the drill core that was unearthed below -- there is an excellent correlation which bodes well for the exploration model going forward.

 

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Aside -- Additionally important time-sensitive note:

 

Investors in PUMA.V now will be the beneficiary of a dividend spin-off of the company's copper assets; Puma was recently able to acquire some of the most prospective gold exploration ground in New Brunswick due in-part to its unique insight from having a 15 year history in the Bathurst camp of New Brunswick as a base metal exploration company. With the focus now on gold, the company will be spinning-off its copper assets, see related July 6, 2021 news "Creation of a New Active Player for Copper Exploration and Development in New Brunswick, Canada"; essentially PUMA.V is selling all its base metal projects for $3.5 million into a new shell (Melius Capital 3 Corp.). Puma's technical team will continue to do the work, have representation on the BOD, and also shareholders of record of PUMA (date still to be set, but expected imminently) will receive a dividend of the new spin-off. The $3.5M is payable by the issuance of an initial 12M Melius shares of which up-to 6M will be distributed to Puma's shareholders in Q1-2022 . The remaining $2.3M is payable in cash or in Melius shares over a period of 3 years. See related November 25, 2021 copper spin-out news "Puma Exploration Updates on Copper Transaction With Melius Metals". The Chester Property will be the flagship with an established resource from 2014 that appears ready for sizeable upgrade.

 

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The full Mining MarketWatch Journal review may be viewed at https://miningmarketwatch.net/puma.htm online.

 

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This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL(s).

 

 

SOURCE: Sector Newswire editorial

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