release031921st Sector Newswire - ST.C

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Sector:  Mining, Precious Metals  :

 

News Release -  March 25, 2022 4:31 PM ET    - Editorial Release

 

 

Puma Reports up to 121.50g/t Gold Grab Samples*, Currently Conducting 10,000 m Drill Program on Williams Brook Gold Project, NB Canada

  

NEW YORK, NY, March 25, 2022 /Sector Newswire/ -- Puma Exploration Inc. (TSX-V: PUMA) (US Listing: PUXPF) (Frankfurt: 4P8A) this week reported that additional surface samples collected at its Williams Brook Gold Project in New Brunswick, Canada, last fall have returned high-grade gold. This week's news falls on the heels of Puma providing additional updates on its ongoing 10,000 metres diamond drilling program. 

 

Below is:

● 1) Copy of recent exploration update social media Tweet from Puma's exploration team.

● 2) Drone footage of the property from H2-2021 showing how well it has been stripped to reveal an extensive patchworks of veins to be drilled,

● 3) Excerpt copy from a couple of Puma's recent (March 22, 2022 and February 22, 2022) press releases, and

● 4) Copy of a recent Mining Journal review of the opportunity.

 

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Excerpt copy of March 22, 2022 news release:

 

Puma Exploration Reports up to 121.50 g/t Gold in Grab Samples* From Last 2021 Surface Exploration Results

 

Rimouski, March 22, 2022 – Puma Exploration Inc. (TSXV: PUMA, OTC: PUXP) (the “Company” or “Puma”) is pleased to report that additional surface samples collected at its Williams Brook Gold Project in New Brunswick, Canada, last fall have returned high-grade gold. Four (4) grab samples* that graded above 100 g/t Au (>3 oz/t Au) are located above Puma’s current drilling area (see Figure 1). Results from the last 566 grab samples collected as part of Puma’s Fall 2021 stripping program at the O’Neil Gold Trend (“OGT”) have now been received. High-grade gold results will continue to be used to identify drilling targets in the Company’s ongoing 10,000 m drilling program.
 

Figure 1: Location of selected grab samples* collected at the OGT.

 

 

From the last 566 samples collected at the OGT last fall and reported today, 66 (11.6%) show gold grades above 1.00 g/t Au. Of these, 21 returned gold grades above 10.00 g/t Au (see Table 1). The average grade of this last batch (all 566) of results, ranging from below detection limit up to 121.50 g/t Au, is 2.01 g/t Au.
 

Based on the Company’s previous success drilling high-grade gold areas identified at surface (grab samples* of 241.00 g/t Au, 199.00 g/t Au, 57.40 g/t Au returned 5.55 g/t Au over 50.15 m at depth, see Sept. 15, 2021 News Release), today’s results confirm and expand Puma’s priority targets in its ongoing 10,000 metres drilling program.

Table 1: Selected grab sample gold results above 10 g/t Au

 

Sample ID Au-GRA22 Sample ID Au-GRA22 Sample ID Au-GRA22 Sample ID Au-GRA22
  Au g/t   Au g/t   Au g/t   Au g/t
D248399 12.35 D248468 18.15 D248210 24.50 D279887 106.50
D249004 15.40 D248469 35.20 D248215 13.70 D279897 57.30
D249049 25.60 D248483 20.10 D248217 38.00 D279898 102.50
D248458 51.80 D248490 13.35 D248243 19.00 D279899 121.50
D248460 52.20 D248491 58.30 D248404 21.40 D279900 101.50
D248467 77.70            

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

UPDATE ON CURRENT DRILLING PROGRAM

 
The objective of the 2022 drilling program is to test the OGT along its 750 metres strike length and confirm the depth extension of the high-grade gold-bearing quartz veins found on surface (see Figure 2). To date, nineteen (19) holes have been drilled for a total of 2,390 metres.

 

The holes, so far, were collared northeast of the Lynx Gold discovery, where a wide gold mineralized zone was identified by drilling last summer, including the intersection of 5.55 g/t Au over 50.15 m in hole WB 21-02 (see Sept. 15, 2021 News Release). The drilling targets areas where surface samples have returned significant gold grades (> 1 g/t Au). Two thousand five hundred (2,500) core samples have been sent to the laboratory for assaying. Results are pending and will be released when received.

 

The systematic drilling will continue toward the O’Neil Gold Zone, located 250 meters southwest of the Lynx Gold zone, targeting the contact between the sediments and the rhyolite.

Figure 2: Current progress of the ongoing 10,000 m drilling program at 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 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 February 22, 2022 news release:

 

Puma Exploration Provides Update on Current Drilling Program, Reports Impressive Quartz Veining and Breccia in Core

 

Rimouski, February 22, 2022 – Puma Exploration Inc. (TSXV: PUMA, OTC: PUXP) (the “Company” or “Puma”) is pleased to provide an update on its ongoing 10,000 metres diamond drilling program at its Williams Brook Gold Project in New Brunswick, Atlantic-Canada. The objective of the 2022 drilling program is to test the O’Neil Gold Trend (“OGT”) along its 750 metres strike length and confirm the depth extension of the high-grade gold found by surface exploration (see Figure 1).

 

Figure 1: Current drilling program at the OGT


 
To date, eleven (11) holes have been drilled for a total of 965 metres. Those holes were collared between100 to 200 metres northeast of the Lynx Gold area, where a wide gold mineralized zone was identified by drilling last summer, including an intersection of 5.55 g/t Au over 50.15 m in hole WB 21-02 (see Sept. 15, 2021 News Release).
 
HIGHLIGHTS OF THE CURRENT DRILLING PROGRAM

  • To date, eleven (11) holes have been completed for a total of 965 metres.
     

  • 681 core samples have been sent to the laboratory for gold assaying.
     

  • The holes are located between 100 and 200 metres from the area drilled in 2021.
     

  • All holes intersected, over core lengths of 25 to 50 metres, the targetted favourable gold-bearing horizon of quartz veins and quartz stockwork in altered sediment and rhyolite.
     

  • Visible gold was observed in hole WB22-19 in a quartz vein in altered sediment at the contact with the rhyolite (Figure 2).
     

  • Hole WB22-26 intersected the complete lithological sequence from top to bottom; Sediment (hanging wall), Rhyolite and Black Shale (footwall).
     

  • Hole WB22-29 intersected a 20 metres-thick continuous quartz vein/breccia system, the thickest intersected thus far at the OGT.
     

  • Preliminary observations suggest that the targetted horizon dips 30 to 40 degrees which is suitable for a potential open-pit operation.

Upon initial visual inspection, the recently completed drill holes show the same mineralized quartz veins and stockwork, including visible gold, at the contact of the altered and brecciated rhyolite and sediments that was observed and sampled on surface and that was intersected in the Company’s inaugural 2021 drill program (see Figure 3). A total of 681 core samples have been sent to the lab, and results will be released when received.

"We are extremely pleased with how drilling is progressing. The visual is exceptional on preliminary inspection of the core with pervasive mineralization and alteration over significant width and impressive strike length. So far, we’ve only completed about 10% of our diamond drilling program at the O’Neil Gold Trend. We have many priority targets still to test, but our work to date indicates that Williams Brook has the potential to become a major gold find in New Brunswick." notes Marcel Robillard, President and CEO.

 

Figure 2: Visible gold (“VG”) identified in hole WB22-19

 


 

Figure 3: Typical quartz vein brecciated and mineralized in sediment (hanging wall)

 

 
"The coming months will be exciting for Puma as we are looking forward to assay results from the final batch of surface samples from our fall exploration program and the first core assay results from our ongoing 2022 drilling campaign. Our Williams Brook Gold Project is poised to elevate Puma from a little-known junior exploration company to a serious player in Atlantic Canada’s gold space," mentioned Réjean Gosselin, Executive Chairman of Puma Exploration.

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 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 "Building Gold Ounces in New Brunswick -- Puma Exploration New 10,000 m Drill Program off to an Excellent Start".
 

Excerpt copy of recent Mining MarketWatch Journal:

 

Building Gold Ounces in New Brunswick -- Puma Exploration New 10,000 m Drill Program off to an Excellent Start

 

First look at 2022 drill core reveals impressive quartz veining and breccia in core. Last year Puma had a 5.55 g/t Gold over 50 m discovery hole, this year looks VERY PROMISING.

 

Puma Exploration Inc. (TSX-V: PUMA) (US Listing: PUXPF) (Frankfurt: 4P8A) s 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 750 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 in an area where quartz veining surface samples have yielded high-grades.
 

On March 22, 2022 Puma provided an update on its 10,000 m drill program -- see "Puma Exploration Reports up to 121.50 g/t Gold in Grab Samples* From Last 2021 Surface Exploration Results", (also see February 22, 2022 release “Puma Exploration Provides Update on Current Drilling Program, Reports Impressive Quartz Veining and Breccia in Core”) – the drill program is progressing very well and excitement runs high; to date nineteen (19) holes have been completed for a total of 2,390 metres, 2,500 core samples have been sent to the laboratory for gold assaying. The systematic drilling will continue toward the O’Neil Gold Zone, located 250 meters southwest of the Lynx Gold zone, targeting the contact between the sediments and the rhyolite. Holes have generally been intersected, over core lengths of 25 to 50 metres.

 

 
Figure 1a. (above) Visible gold observed in hole WB22-19 in quartz vein in altered sediment at the contact with the rhyolite. Source Feb. 22/2022 news release. Additionally, Hole WB22-29 intersected a 20 metres-thick continuous quartz vein/breccia system, the thickest intersected thus far at the OGT. Preliminary observations suggest that the targetted horizon dips 30 to 40 degrees which is suitable for a potential open-pit operation.

 

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 2022 prospects at the Williams Brook Gold Property; e.g. see...

 

● March 22, 2022 Puma Exploration Reports up to 121.50 g/t Gold in Grab Samples* From Last 2021 Surface Exploration Results,

 

● Jan. 27, 2022 Puma Exploration Reports Up to 371 G/T Gold in Surface Rock Samples*,

 

● Jan. 12, 2022 Puma Exploration Launches Its 2022 Exploration Program and Announces up to 51.70 G/T Gold in Surface Grab Samples*,

 

● 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$52M (~105.11 million shares trading near ~C$0.49 -- this figure includes the recent $5M private placement & $922k Private Placement; Puma is fully financed to accomplish all key objectives for 2022). 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 1b. (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.

 

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 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 payment(s) to Puma are payable by the issuance of an initial allotment of Melius shares of which a significant portion will be distributed to Puma's shareholders in H1-2022 . The remaining payments to Puma are 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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Williams Brook Gold Property, New Brunswick, Canada -- PUMA.V (100% interest to earn)

 

10,000 m drill program begun January 2022 -- O’NEIL GOLD TREND DRILLING PROGRAM

 

First Priority target areas of the O’Neil Gold Trend:

 

Figure 1c. (above) First Priority Targets - source: 2022 Exploration Strategy news release December 21, 2021] 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

 

 

Figure 1.d (above) - 2022 Exploration strategy and planned programs; The 2022 exploration program will strategically target three (3) project areas, each with specific tasks and objectives.
 
Puma also has a PROPERTY-SCALE EXPLORATION PROGRAM plan for Williams Brook:
 

 

Figure 1.e (above) - Property-scale exploration insight: First Priority target areas over the entire Williams Brook property. 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 in addition to surface exploration and highlighted several prospective areas within the 20,000 hectares land package. 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: ● the entire 7 km length of the O’Neil Gold trend; ● the Williams 1 and Williams 2 gold trends; and, ● 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.
  

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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

editorial@SectorNewswire.com

 

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