release031921st Sector Newswire - ST.C

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Sector:  Mining, Precious Metals  :

 

News Release -  May 13, 2022 4:34 PM ET    - Editorial Release

 

 

Puma Exploration to Exhibit at The 2022 Vancouver Investment Conference (Booth 203), Advancing Williams Brook Gold Project, NB Canada

  

NEW YORK, NY, May 13, 2022 /Sector Newswire/ -- Puma Exploration Inc. (TSX-V: PUMA) (US Listing: PUXPF) (Frankfurt: 4P8A) will be exhibiting at the upcoming Vancouver Resource Investment Conference (VRIC) at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Tuesday, May 17 and Wednesday, May 18, 2022 -- CLICK HERE to see related news release.

 

Last week Puma announce that a second rig has been mobilized and began drilling this week at the Williams Brook Gold Project in New Brunswick, Atlantic Canada. News of the second rig being added falls on the heels of the company providing an update on its 10,000 m drill program -- see April 28, 2022 news "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", providing results on the first 19 holes for 2,389 metres of the ongoing 10,000 metres 2022 drilling campaign. 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.

 

Additionally entering May-2022 Puma's President and CEO, Marcel Robillard, discussed the advancement of the Williams Brook Gold Project.

 

Below is:

● 1) Puma Exploration's CEO interview / exploration update video,

● 2) Excerpt copy from Puma's May 4, 2022 press release,

● 3) Excerpt copy from Puma's April 28, 2022 press release, and

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

 

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1) President and CEO of PUMA Exploration, Marcel Robillard discusses the advancement of the Williams Brook Gold Project entering May-2022:

 

   [Video running time 31 min. 29 sec.] source youtube https://youtu.be/_FeU10DQ5Qw

 

Takeaways / notes from the above interview:

  • Puma’s exploration team is currently concentrating efforts on the 750 m area length of the OGT where there is understood to be a high-grade gold vein system right at the contact of the rhyolite & the sediments.

  • The beauty of doing work in New Brunswick is that there is very little overburden, this allows Puma to do stripping and trenching over large areas prior to drilling. This keeps discovery costs low.

  •  Last year Puma discovered spectacular high-grade veins within a lower–grade envelope in Lynx Zone.

  •  The 10,000 m program for 2022 is to apply the drilling over the entire 750 m OGT, and the goal of the program is to highlight some potential higher-grade shoots that will be continuous.

  •  The large-scale geological survey shows the potential for gold runs ~7 kilometres. The strategy is thus to focus on where gold is known now, figure out where the shoots are (which Puma is doing now), and then apply the findings over the entire 7 km.

  •  The 10,000 m drilling on OGT should be completed ~ the end of June, it will take ~2 – 3 months to wait for assays, and during these 2 – 3 months Puma will be stripping and trenching parts of the larger 7 – 10 km to define high-grade drill targets for the Fall, at which time Puma will be looking at 5,000 – 10,000 m (depending on what will be left in the treasury from flow-thru). Puma is fully capitalized to accomplish everything it has planned over the coming months.

  •  The April 28, 2022 news release was the first announcement from the 2022 program; Puma has found good high-grade intercepts over 200 m away from what was drilled in 2021 – so now it’s not just one discovery, it appears continuous, and now the rest of the 750 m will be tested for shoots.

  •  Geologists are working hard on compilation, 3D modeling, and 3D inversion – Puma is also working with experts in modeling and structural geology.

  •  In 2021 the first round of drilling was on an extensional vein, the drilling now in 2022 is at the contact. There are a lot of cross-cuts in the rhyolite. We are still in early days, Puma is still developing its own model. In the current drilling; Puma still does not know what kind of veins it hit in the April 28, 2022 news release, they are all located at the 25 – 75 m alteration zone along the contact. In the fall, after the 10,000 m, and once all inputs, including pathfinder elements have been inputted, Puma will have a much better model/explanation.  Right now Puma knows it has gold at the contact, it knows the size of the rhyolite in places and the potential rhyolite elsewhere. If Puma goes out to the western side, that contact is at the bottom of the rhyolite; fluids may have come up to the contact and perhaps the shoots are all linked together and there may in-fact be deeper bonanza grades -- Puma will be drilling deeper (300 – 400 m holes) at some time to test this, but the strategy right now (in these early days) is best to gather information closer to surface – holes under 100 m are showing Puma is getting gold at the contact (e.g. 2 m, 4 m, up to 20 m).

  •  Puma is drilling a few deeper (~250 m) stratigraphic holes in the current round for its modelling purposes to test the sediment at top, the rhyolite, then again another layer of sediment at the bottom, also this will give Puma mafic volcanics that will help target potential high-grade source feeder zone(s). From what is known from Puma’s parallel structures WB1 and WB2 (~5 km north of OGT), the 3D models show an anticline with mafic and felsic signatures, OGT may be similar -- this could be a big camp in the making.

  •  Puma has already sent a couple samples off for metallurgical testing; one-low grade envelope sample and one high-grade sample. Puma is mulling over the idea of conducting bulk-samples on different veins from surface.

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2) Excerpt copy of May 4, 2022 news release:

 

Puma Exploration Adds a Second Drill at Its Williams Brook Gold Project

 

Rimouski, May 4, 2022 – Puma Exploration Inc. (TSXV: PUMA, OTC: PUXP) (the “Company” or “Puma”) is pleased to announce that a second rig has been mobilized and began drilling this week at the Williams Brook Gold Project in New Brunswick, Atlantic Canada. Following the Company’s recent drilling success (see April 28, 2022 News Release) and with a better understanding of the O’Neil Gold Trend (“OGT”), a second drill rig will be used to accelerate the current and ongoing 10,000 metres drilling program.
 

The first drill will continue to systematically explore the near-surface (0-100m depth) favourable Sediment/Rhyolite contact toward the O’Neil and Pepitos Gold Zones to discover additional high-grade gold mineralization along the OGT’s 750 metres strike length (Figure 1). The second drill will follow up on the high-grade quartz veins identified during the Company’s inaugural 2021 and current 2022 drilling programs (Table 1).

 

Table 1. High-Grade veins intersected at the O’Neil Gold Trend (OGT)*

 

Hole ID From (m) To (m) Length (m) Au (g/t)
WB21-01 4.00 6.10 2.10 12.71
WB21-02 7.20 10.20 3.00 8.33
WB21-02 13.70 15.80 2.10 28.52
WB21-02 45.60 49.45 3.85 46.94
WB21-03 55.90 58.10 2.20 7.81
WB21-05 26.00 28.00 2.00 12.64
WB21-06 46.80 49.70 2.90 16.92
WB21-09 16.30 18.00 1.70 15.52
WB21-12 28.60 32.40 3.80 6.93
WB21-16 80.00 88.35 8.35 5.11
WB21-17 107.00 111.65 4.65 4.85
WB22-25 2.00 5.00 3.00 34.93
WB22-26 25.50 27.10 1.60 14.06
WB22-35 14.90 17.50 2.60 5.83
WB22-36 3.80 7.00 3.20 22.28

*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.

Figure 1: Proposed focus areas for Drill 1 and 2

 

 

About 4,000 metres of the ongoing 10,000 metres drilling program at the OGT is left to be drilled. With two (2) drill rigs on site, the Company expects to complete the program by the end of June 2022. An aggressive field exploration program, including stripping, trenching and prospecting over the entire property and mainly concentrated on the 10 kilometres interpreted strike length of the OGT, will then be launched to identify and prioritize drilling targets for the fall exploration program.
 

The entire program is fully financed, and Puma expects to release updates regularly. A detailed exploration program that focuses on first priority targets defined from the current geophysical, geochemical and drilling compilation will be announced shortly.

UPDATE ON THE 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 to define additional high-grade gold veins to be drilled in the fall drilling program. Since drilling began in late January, more than 47 holes for 6,000 metres have been completed. Assay results for only the first 2,300 metres have been released.

 

The first hole drilled (WB22-66) at the southern end of the current known OGT intersected the favourable Sediment/Rhyolite contact and shows the same alteration and mineralization that has been observed in drilling since 2021. This confirms the continuity of the mineralized system over 750 metres and increases the potential for additional significant high-grade gold mineralization at the OGT.
 
Figure 2: Core intersected at the southern end of the O’Neil Gold Trend (WB22-66)

 

 
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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3) Excerpt copy of April 28, 2022 news release:

 

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, April 28, 2022 – Puma Exploration Inc. (TSXV: PUMA, OTC: PUXP) (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.

 

Figure 1: First 2022 drilling results at the OGT accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c94efbfe-4761-44c6-a28f-a1e81f16c153

 

 

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 ID

From (m)

To (m)

Length* (m)

Au (g/t)

WB22-19

7.00

31.00

24.00

0.20

incl.

7.00

22.35

15.35

0.30

incl.

7.00

11.50

4.50

0.90

incl.

7.25

7.60

0.35

8.27

WB22-20

8.80

47.00

38.20

0.15

incl.

8.80

14.60

5.80

0.32

incl.

8.80

9.10

0.30

3.77

incl.

14.00

14.60

0.60

1.18

 

 

 

 

 

and

34.85

47.00

12.15

0.32

incl.

34.85

35.15

0.30

5.10

incl.

46.75

47.00

0.25

4.80

WB22-21

9.70

26.35

16.65

0.30

incl.

15.50

26.35

10.85

0.42

incl.

15.50

16.50

1.00

2.92

incl.

22.10

22.50

0.40

1.12

WB22-22

0.70

25.00

24.30

0.47

incl.

6.10

25.00

18.90

0.60

incl.

6.10

7.10

1.00

1.95

incl.

21.30

25.00

3.70

2.40

incl.

21.30

22.05

0.75

3.02

incl.

22.05

23.00

0.95

4.37

incl.

24.00

25.00

1.00

2.13

WB22-23

10.00

28.00

18.00

0.33

incl.

10.00

11.00

1.00

1.34

incl.

27.45

28.00

0.55

7.83

WB22-24

6.50

35.00

28.50

0.44

incl.

6.50

11.85

5.35

1.12

incl.

6.50

7.50

1.00

5.55

incl.

11.40

11.85

0.45

0.93

 

 

 

 

 

and

18.80

27.40

8.60

0.73

incl.

21.35

27.40

6.05

1.00

incl.

20.80

23.50

2.70

2.07

incl.

21.35

21.65

0.30

1.95

and

21.65

22.00

0.35

4.77

and

22.40

22.80

0.40

5.73

and

22.80

23.50

0.70

0.93

and

27.10

27.40

0.30

0.96

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

Hole ID

From (m)

To (m)

Length* (m)

Au (g/t)

WB22-25

1.40

36.75

35.35

3.12

incl.

1.40

18.30

16.90

6.47

incl.

2.00

5.00

3.00

34.93

incl.

2.00

2.90

0.90

2.61

and

2.90

3.50

0.60

14.65

and

3.50

4.00

0.50

183.00

and

4.00

4.45

0.45

4.00

and

4.45

5.00

0.55

0.63

 

 

 

 

 

and

11.00

18.30

7.30

0.60

incl.

11.00

12.20

1.20

1.92

and

14.90

15.30

0.40

2.34

incl.

17.25

18.30

1.05

1.05

and

35.70

36.75

1.05

0.61

WB22-26

20.20

58.00

37.80

0.92

incl.

20.20

53.55

33.35

1.00

incl.

20.20

34.50

14.30

2.18

incl.

20.20

27.10

6.90

4.41

incl.

20.20

21.45

1.25

5.70

incl.

25.50

26.50

1.00

22.00

incl.

53.15

53.55

0.40

4.31

incl.

57.00

58.00

1.00

1.22

WB22-27

29.70

32.20

2.50

0.59

incl.

29.70

30.65

0.95

0.92

WB22-28

27.70

28.95

1.25

2.89

incl.

27.70

28.15

0.45

6.61

 

28.15

28.95

0.80

0.79

WB22-29

17.00

79.15

62.15

0.16

incl.

17.00

24.70

7.70

0.49

incl.

17.00

17.70

0.70

4.21

and

21.00

22.00

1.00

0.56

 

40.00

41.00

1.00

0.50

 

 

 

 

 

and

57.10

79.15

22.05

0.25

incl.

57.10

58.00

0.90

0.87

incl.

63.00

64.00

1.00

1.10

incl.

78.50

79.15

0.65

2.97

 

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

Hole ID

From (m)

To (m)

Length* (m)

Au (g/t)

WB22-30

90.50

92.55

2.05

1.75

incl.

90.50

91.00

0.50

4.79

and

91.00

92.00

1.00

0.96

 

111.30

111.75

0.45

0.85

WB22-31

NIL

 

 

 

WB22-32

3.70

49.00

45.30

0.40

incl.

3.70

46.35

42.65

0.42

incl.

3.70

19.95

16.25

0.97

incl.

3.70

10.00

6.30

2.46

incl.

3.70

7.00

3.30

3.25

and

27.25

27.70

0.45

1.30

and

46.00

46.35

0.35

1.23

WB22-33

7.80

48.00

40.20

0.29

incl.

7.80

31.30

23.50

0.46

incl.

16.05

31.30

15.25

0.66

incl.

29.90

31.30

1.40

6.77

incl.

30.35

30.65

0.30

30.50

WB22-34

12.90

31.00

18.10

0.22

incl.

12.90

13.15

0.25

0.59

 

 

 

 

 

and

25.45

28.95

3.50

0.64

incl.

26.45

28.45

2.00

0.89

incl.

26.45

26.95

0.50

2.72

and

28.00

28.45

0.45

0.91

WB22-35

14.00

22.85

8.85

1.78

incl.

14.90

17.50

2.60

5.83

incl.

14.90

16.50

1.60

7.86

and

22.20

22.85

0.65

0.62

WB22-36

3.80

25.90

22.10

3.97

incl.

3.80

18.00

14.20

5.79

incl.

3.80

8.35

4.55

15.72

incl.

3.80

7.00

3.20

22.28

incl.

3.80

4.50

0.70

16.50

and

4.50

5.15

0.65

59.60

and

5.15

7.00

1.85

11.35

incl.

16.40

18.00

1.60

6.70

and

24.65

25.90

1.25

3.90

WB22-37

2.15

22.90

20.75

0.11

incl.

11.00

14.70

3.70

0.50

incl.

12.00

13.00

1.00

0.95

incl.

13.45

13.85

0.40

0.79

*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 Nad83

Northing UTM Nad83

Elevation (m)

Az (°)

Dip (°)

Length (m)

WB22-19

660 354

5 259 522

385

115

-45

100

WB22-20

660 354

5 259 522

385

115

-65

101

WB22-21

660 354

5 259 522

385

160

-45

106

WB22-22

660 354

5 259 522

385

160

-65

101

WB22-23

660 363

5 259 487

385

160

-45

54

WB22-24

660 341

5 259 481

386

155

-45

88

WB22-25

660 341

5 259 482

386

155

-65

74

WB22-26

660 316

5 259 541

387

115

-65

145

WB22-27

660 323

5 259 461

388

115

-45

52

WB22-28

660 322

5 259 462

388

115

-65

143

WB22-29

660 287

5 259 479

388

115

-65

158

WB22-30

660 232

5 259 504

386

115

-65

224

WB22-31

660 235

5 259 577

382

115

-65

239

WB22-32

660 359

5 259 535

385

155

-45

136

WB22-33

660 359

5 259 535

385

155

-65

116

WB22-34

660 349

5 259 509

386

155

-45

142

WB22-35

660 349

5 259 509

386

155

-65

113

WB22-36

660 340

5 259 505

387

155

-45

156

WB22-37

660 340

5 259 505

387

155

65

142

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.

 

Figure 2: Example of pervasive alteration and mineralization accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b8094431-78e2-48ef-a910-72837ef0b936

 

 

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.

 

Figure 3: Localisation of the O’Neil Gold Trend (OGT) accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cf56a4b3-c54a-442b-a5a3-d9dde162a6d0

 

 

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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4) Excerpt of article on Puma Exploration;

 

Puma Exploration is 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 2022 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 2022 10,000 m Drill Program off to an Excellent Start

  • Building off last year's 5.55 g/t Gold over 50 m discovery hole, assay results from the first 19 holes of 2022 drilling are impressive; e.g. 34.93 g/t Gold over 3 m, among others.

 

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 750 m long patchwork of gold laden rhyolitic bedrock (named the O'Neil Gold Trend) proximal a contact zone that runs even much longer (many kilometres) within its claim boundaries. Puma commenced a new 10,000 m drill program this January 2022 in an area where quartz veining surface samples have yielded high-grades.

 

PUMA.V currently has a nominal market cap of ~C$38M (~106.19 million shares trading near ~C$0.36 -- 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.
 

On April 28, 2022 Puma provided an update on its 10,000 m drill program -- see "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", providing results on the first 19 holes for 2,389 metres of the ongoing 10,000 metres 2022 drilling campaign. 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. (also see March 22, 2022 "Puma Exploration Reports up to 121.50 g/t Gold in Grab Samples* From Last 2021 Surface Exploration Results",  and February 22, 2022 “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 as systematic drilling continues 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 1a. (above) First 2022 drilling results at the OGT -- Image source: April 28/2022 news release. The top section of the above map image shows stars representing the first 19 holes from the 2022 drill program, the bottom section shows intercepts from 2021 (in the Lynx zone). The above map helps to illustrate how the high-grade hits appear to be clustered along the favourable contact. Holes have generally been intersected over core lengths of 25 to 50 metres, and preliminary observations suggest that the targeted horizon dips 30 to 40 degrees which is suitable for a potential open-pit operation. As Puma's technical team continues to truth-the-ground along the gold trend, there is growing belief by many watching this story unfold that they are upon multi-million ounce gold potential.
 
HIGHLIGHTS from first 19 holes of 2022:

  • 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.

Puma’s technical team estimates that the 10,000 meters drilling campaign will be completed in June, after which the 2022 field exploration program will begin over the entire property.

 

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Excitement runs high for continued discovery of significance: 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 in 2021 (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.

 

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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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SOURCE: Sector Newswire editorial

editorial@SectorNewswire.com

 

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