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News Release -  October 15, 2021 7:06 PM ET    - Editorial Release

 

 

Puma Exploration Subject of Noteworthy Endorsement from Dr. Quinton Hennigh as Puma Identifies More High-Grade Gold Veins with up to 199 g/t* Au from Surface Sampling on Its Williams Brook Gold Property, Atlantic Canada

 

NEW YORK, NY, October 15, 2021 /Sector Newswire/ -- Puma Exploration Inc. (TSX-V: PUMA) (US Listing: PUXPF) (Frankfurt: 4P8A) this week provided additional results from the 2021 field exploration surface sampling program on the 100% controlled Williams Brook Gold Property in New Brunswick, Atlantic Canada.

 

Puma is also the subject of an new independent exploration update from Quinton Hennigh, PhD: Dr. Henning is an exploration geologist that has identified many of the best next generation mining assets on the planet that are still in hands of junior exploration companies today and is an advisor to Crescat Capital LLC, which took a position in PUMA.V in August-2021 after his recommendation.

 

Click here to go to the 28 minute mark of new October 15, 2021 video where Dr. Henningh discusses his passion for staying on top of the latest exploration efforts of junior miners with exceptional projects. Crescat Capital has investments in quite a few companies, on the order of 90 companies, it will thus have on the order of 103-odd drills operating in the coming year to monitor results on, many of those drills have been operating over the past few months, and today Dr. Henningh talks about some of the results that are starting to come in -- the first he discusses is Puma Exploration Inc. Below is transcribed copy of the related video along with the two related images he references:

 

Quinton Hennigh: "These are rock chip samples from Puma, I talked about Puma for the first time just a few weeks ago... and it happened to coincide with a very impressive drill hole; a bit over 50 m, a bit over 5 g/t [September 15, 2021: Puma Exploration Drills 5.55 g/t Au over 50.15 meters* on Initial Drilling at Williams Brook Gold Property] in a new discovery in New Brunswick, this is basically a virgin goldfield that is just in the process of discovery. What struck me when I first looked at Puma was the exceptionally high-grades that they were finding in rock chip samples as well as seeing locally in the drill core. Here is another suite of samples that were collected in this Lynx/Chubby area which again .... look at the grades here; we are seeing many many samples in the multi-ounce range, ounce +, and tens of grams, these are fantastic numbers. But what really gets me stoked is where these samples are coming from. So let's go to the next slide..."

CLICK HERE to open as PDF


 


 

Quinton Hennigh:
"Okay, the map on the left shows you the footprint, that brown line shows you the footprint of areas that they recently opened up through trenching. The kind of darker colour areas, those were the previous trench areas, the company has been very aggressive about opening up and exploring this target more and more. The drill holes that we talked about a few weeks ago came out of that Lynx Zone, which is kind of the southern blob of the two here -- but what is really really cool is as they open up the ground between these two areas they are seeing high-grade occur throughout and this is just absolutely one of them, this is the kind of stuff that leads to a major gold discovery. You can see the photograph over on the right here, you can see the footprint of the trench here, my gosh that is almost the size of an opencast mine at this point -- its phenomenal. They are seeing quartz visible gold in many places. This is the kind of gold system, it is a high level orogenic system, episomal [? audio transcription] likely, but it also might have aspects of an earlier epithermal style of mineralization. I talked about this in the original presentation, it's really intriguing. The other thing to keep in context here is that this system is part of the same belt, if you will, that extends up into Newfoundland in which companies like New Found are finding very high-grade discoveries. So I am very very intrigued with what these guys are seeing, the high-grades tell me, and the textures tell me, they are in a high level part of the system. I think it is ripe for the discovery of a substantial high-grade deposit. So stay tuned. I think they have a lot of drill holes in the works right now and the labs are getting assays, they have many more samples -- you can see the little black X's on this map. Usually when there is a high density of sampling, a clustering of samples, it's for good reasons -- because the geologists are seeing rock in that area that's worthy of sampling. I anticipate a lot more high-grade results to come from this new exciting discovery."

Other junior mining stocks covered by Dr. Hennigh in this exploration update video include; Cabral Gold $CBR , Snowline Gold Corp $SGD , Eskay Mining $ESK , Newfound Gold Corp $NFG , Arizona Metals Corp $AMC , Cassiar Gold $GLDC , Kingfisher Metals $KFR , Blackrock Silver $BRC , Firefox Gold $FFOX , White Rock Minerals $WRM and NV Gold $NVX

 

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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; Puma is currently conducting a 10,000 m drill program where quartz veining surface samples have yielded high-grades. To date Puma has drilled 2,360 meters (18 holes). Drill results from the first 6 holes have been reported, including the discovery hole WB21-02 that 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. The continued discovery of high-grade gold veins at surface this week bodes well for Puma's future prospects at the Williams Brook Gold Property.

 

Below is copy of Puma's October 14, 2021 news release, followed by copy of the recent Mining Journal article.

 

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 Excerpt copy of October 14, 2021 news release:

 

Puma Exploration Identifies More High-Grade Gold Veins with up to 199 g/t* Au from Surface Sampling on Its Williams Brook Gold Property, Atlantic Canada

 

Rimouski, October 14th, 2021 – Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is pleased to provide additional results, which include very high-grade gold assays of 199 g/t Au, 192 g/t Au, and 170.5 g/t Au, from the 2021 field exploration surface sampling program on the 100% controlled Williams Brook Gold Property in New Brunswick, Atlantic Canada.

Table 1. Selected High-Grade Grab Samples* Collected at Surface Between Lynx and Chubby Zones

 

Location

Sample

Utm X

Utm Y

Lithology

Type

Au (g/t)

Ag (g/t)

Lynx-Chubby

C099429

660268

5259314

Quartz Vein

o/c

199.00

18.60

Lynx-Chubby

C099436

660263

5259312

Quartz Vein

o/c

192.00

36.20

Lynx-Chubby

D279831

660259

5259307

Quartz Vein

o/c

170.50

38.20

Lynx-Chubby

C733348

660281

5259306

Quartz Vein

o/c

52.10

1.88

Lynx-Chubby

D279829

660257

5259296

Quartz Vein

o/c

51.40

22.90

Lynx-Chubby

C733344

660279

5259305

Quartz Vein

o/c

50.40

2.75

Lynx-Chubby

D279787

660286

5259367

Quartz Vein

o/c

46.80

1.40

Lynx-Chubby

C099424

660275

5259314

Quartz Vein

o/c

46.00

6.29

Lynx-Chubby

C099448

660281

5259314

Quartz Vein

o/c

31.60

1.71

Lynx-Chubby

D279673

660304

5259362

Quartz Vein

o/c

31.00

2.74

Lynx-Chubby

C099433

660265

5259313

Quartz Vein

o/c

28.60

3.42

Lynx-Chubby

C099431

660267

5259313

Quartz Vein

o/c

26.30

3.43

Lynx-Chubby

D279681

660304

5259360

Quartz Vein

o/c

21.30

3.35

Lynx-Chubby

C099437

660261

5259311

Quartz Vein

o/c

19.50

2.13

Lynx-Chubby

D279638

660290

5259347

Rhyolite

o/c

18.95

1.35

Lynx-Chubby

C099423

660276

5259314

Quartz Vein

o/c

12.65

5.76

Lynx-Chubby

D279818

660265

5259276

Rhyolite

o/c

9.54

0.75

Lynx-Chubby

D279752

660275

5259365

Quartz vein

o/c

9.19

0.81

Lynx-Chubby

C099445

660279

5259314

Quartz Vein

o/c

9.02

2.40

Lynx-Chubby

D279763

660278

5259364

Quartz vein

o/c

8.81

0.99

Lynx-Chubby

C099497

660263

5259341

Quartz Vein

o/c

7.46

0.27

Lynx-Chubby

D279513

660289

5259307

Quartz Vein

o/c

6.73

2.19

Lynx-Chubby

D279555

660267

5259359

Quartz vein

o/c

6.29

0.45

Lynx-Chubby

C099464

660258

5259325

Quartz Vein

o/c

5.83

0.10

Lynx-Chubby

C099430

660268

5259313

Quartz Vein

o/c

5.69

2.59

Lynx-Chubby

D279830

660259

5259297

Quartz Vein

o/c

5.35

8.27

* Selected rock grab samples are selective by nature and may not represent the true grade or style

The systematic surface sampling program was conducted along the O’Neil Gold Trend (OGT) between the Lynx and Chubby Gold Zones, following the 2021 spring-summer stripping and detailed mapping operations. The significant new grab samples are illustrated in Figure 1.

Figure 1. New Selected Grab Samples* Collected Along the OGT Between the Lynx and Chubby

 

 

The first 380 surface grab samples received, so far, illustrate perfectly the very high-grade gold enrichment contact between the sediments and the rhyolite. The arithmetic average of the 380 new samples collected is 3.14 g/t Au which includes all the results from below detection limit to a maximum value of 199 g/t Au. A total of 103 samples returned values over 0.3 g/t Au including 66 that assayed better than 1.0 g/t Au. The assay results from an additional 214 samples from the current systematic surface sampling program between the Lynx and Chubby Gold Zones are still pending and are shown on Figure 1 towards the Chubby Gold Zone.

INAUGURAL DRILLING PROGRAM AT WILLIAMS BROOK GOLD PROJECT

 

The core-oriented maiden drill campaign was completed on August 20, 2021. It consisted of 18 holes for a total of 2,360 meters that tested a 200-meter segment of the 700-meter-long O’Neil Gold Trend (OGT). The assay results for the first six holes were released mid-September and all six (6) holes intersected significant gold mineralisation including the discovery hole WB21-02 that 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 assays are pending for the remaining 12 drill holes.

 

Marcel Robillard, President and CEO, stated: Once again our Williams Brook Gold Project rewards us with tremendous gold results from our grab sampling program. We proved that the assays from surface grab samples can be duplicated by the drilling results. The first six (6) holes released (see news 15/09/2021) are representative of the mineralisation outlined at surface and we are extremely confident that the next drill campaign will be a success.

 

Puma’s technical team continues to better define and extend the gold zones on surface by prospecting, trenching, stripping, and intense sampling in preparation for the next drilling campaign scheduled for later in 2021. Also, a ground IP geophysical test survey is in progress over the OGT to see if the high-grade gold zones have a specific geophysical signature. Current work programs are highlighted in Figure 2.

Figure 2. Current Work-in-Progress at O’Neil Gold Trend

 

 
O’NEIL GOLD TREND (OGT)

 

The O’Neil Gold Trend (OGT) is a pervasive altered and brecciated rhyolite unit hosting significant gold showings and occurrences followed by trenching and drilling over a strike length of 700 meters. The geophysical signature of the OGT is expressed over 7km. The favourable unit (rhyolite) is similar and parallel to the structures hosting the “Williams 1” and “Williams 2” Gold Zones where previous operator drilled in 2008, 54.2 g/t Au over 2.8 meters and 1 g/t Au over 23 meters.

 

These trends are interpreted to be related to a major rifting in the New Brunswick Geological events and could represent a low sulphidation epithermal gold system. Along the OGT, the width of the rhyolite varies from 5 to 250 meters with an average apparent thickness of 150 meters.

 

Discovery hole WB21-02 intersected 5.55 g/t Au over 50.15 meters from surface. The mineralised and altered zone drilled includes two main high-grade intercepts of 9.88 g/t Au over 8.60 meters and 46.94 g/t Au over 3.85 meters. All the six (6) first holes intersected significant high-grade gold quartz veins and quartz networks within the altered and mineralised rhyolite.

High-Grade Selected Grab Samples Assays on the Prolific O’Neil Gold Trend (OGT)*:

 

O’Neil Gold Zone: 128.5 g/t Au, 44.4 g/t Au, 38.8 g/t Au, 32.8 g/t Au, 23.1 g/t Au

 

Pepitos Gold Zone: 52.1 g/t Au, 16.1 g/t Au, 15.0 g/t Au, 13.1 g/t Au, 4.87 g/t Au

 

Lynx Gold Zone: 241.0 g/t Au, 79.8 g/t Au, 74.2 g/t Au, 63.5 g/t Au, 58.4 g/t Au

 

Chubby Zone Area: 3.5 g/t Au, 1.2 g/t Au, 1.2 g/t Au, 0.45 g/t Au

 

Moose Gold Zone: 2.4 g/t Au, 2.1 g/t Au, 1.3 g/t Au, 1.1 g/t Au

* Selected rock grab samples are selective by nature and may not represent the true grade or style

QUALIFIED PERSONS

 

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

QUALITY ASSURANCE/QUALITY CONTROL (QA/QC)

 

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

ABOUT PUMA EXPLORATION

 

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

You can visit us on
Facebook / Twitter / LinkedIn

Learn more by consulting
www.explorationpuma.com for further information on Puma.

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

-30-

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 recent Mining MarketWatch Journal (source: https://miningmarketwatch.net/puma.htm ):

 

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. This September 15, 2021 Puma Exploration announced that it has drilled 5.55 g/t Gold over 50.15 metres* on its initial drilling at the Williams Brook Gold Property, a stellar maiden intercept that positions PUMA.V as one of the most exciting gold exploration plays in the junior mining sector. The Company is currently conducting a 10,000 m drill program where quartz veining surface samples have yielded high-grades -- 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.V currently has a nominal market cap of ~C$38M (82,018,714 shares trading near ~C$0.46). 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.

 

In commenting on the maiden intercept Marcel Robillard, President and CEO of Puma Exploration, stated: "We are all very excited about the initial assay results as they have far exceeded our expectations, especially with WB21-02 returning a metal factor of 278. The drilling is validating the representativity of the high-grade gold samples collected at surface and the continuity of the mineralization at depth and laterally. The additional results should improve our model as we continue to better understand the geometry of the mineralized envelope along this segment of the O’Neil Gold Trend (OGT), that remains open."

 

To put into perspective the significance of a 278 metal value, this places Puma Exploration in the top percentiles of discovery holes compared to success stories out there (research source: Discovery study [PDF] click to view - see page 9 onward).

 

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Figure 1. (above) -- Lynx Zone Discovery Hole on O'Neil Gold Trend at Williams Brook Gold Project; 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 near the ~end of October-2021) will receive a dividend of the new spin-off at ~15 shares for 1 (giving the new entity the 200 shareholders listing minimum). The payments to Puma will be in share equivalent in 4 instalments, capped at 20% (non-controlling) ownership (difference in cash if exceeding 20%). The 43-101s and paperwork are on-track and Melius will be pushing to be publicly trading by the end of 2021 or very soon thereafter. 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)

 

Current work underway:

Figure 1b. (above) Latest activity on Puma's O'Neil Gold Trend - source: Exploration update - Oct. 7, 2021]:

 

MAIN EXPLORATION WORK COMPLETED OR IN PROGRESS
 

■ Aggressive grab sampling program completed over 400 meters along the OGT between the O’Neil and Chubby Gold Zones (See related October 14, 2021 exploration update: Puma Exploration Identifies More High-Grade Gold Veins with up to 199 g/t* Au from Surface Sampling on Its Williams Brook Gold Property, Atlantic Canada).

 

■ Wood cutting and stripping in progress over the contact sediment-rhyolite to continue the aggressive grab sampling program for an additional 300 meters beyond Chubby along the OGT.

 

■ Prospection, exploration trenching, and grab sampling in progress over the entire 7km NE extension of the OGT.

 

■ Trenching and sampling of quartz veins discovered at the lower (southeast) contact of the rhyolite.

 

■ Metallurgical tests in preparation on different mineralised gold zones.

 

■ A geophysical ground IP test survey in progress over the drilled area (6 lines for 3.3km).

 

■ The completion of the heliborne VTEM and new radiometric surveys in progress to cover the entire Williams Brook Gold Property.

 

■ Work in progress to establish a 3D structural model with the new data of the recent drilling campaign in collaboration with Terrane Geosciences. ##

 

 

 

Figure 2. (above) -- Lynx Zone stripped, on O'Neil Gold Trend at Williams Brook Gold Property. The property is on Crown land. Big trenches were dug to expose bedrock, and the area was washed clean in order to decipher what was going on. Spectacular samples are being gathered at surface along the O'Neil Gold Trend in various zones. The first drilling concentrated on the Lynx Zone in a 100 m x 200 m area in order to establish a structural understanding of veins and direction. The geological team needed to do close spacing holes at first to understand the system and then apply it to the entire trend. Many of the techniques and much of the know-how applicable at Williams Brook is taken from what has already been proven for other Atlantic success stories in the same geological setting -- the ultimate goal is to replicate what Marathon Gold managed to do on its property with several open pits and having the option to go underground later. Puma has 700 m of mineralized rhyolite flow identified to explore on the O'Neil Gold Trend alone to start.

 

Puma's Discovery Model: Right now Puma has a team of prospectors looking for indicators at surface of new zones to be discovered, once prospective zones are identified trenches will be used to locate the rhyolite, then if rhyolite sampling confirms gold the localized area is stripped and drilled for discovery.

 

 

Location

 

 

Figure 3. (above) Location Map of Puma Exploration's main assets in New Brunswick -- Excellent infrastructure in a mining-friendly jurisdiction. The properties have quality land accessibility through ground, air and rail; the road intersecting Williams Brook is a provincial highway that runs ~5 km from where Puma is currently drilling. No need for expensive remote camps; exploration crews can stay in a hotel in nearby Saint Quentin, a 20 minute drive away. Mining infrastructure is already in place with full seaport access, and there is an accommodative and reliable government whose policies reflect a mining-friendly focus. There is a local skilled labour force who understand the trade. Puma Exploration has a MOU signed with local First Nations, whom are pro-mining and currently in business running ore transport on contract for the nearby Chester Mine.

 

Geological setting

 

 

Figure 4. (above) -- Geological setting in the Canadian Appalachians. The Dunnage and Gander Zones are a group of ancient rocks that were squeezed up during coalitional events eons ago when North America, Europe, and Africa were all forced together. This belt of rocks has yielded other noteworthy gold discoveries; e.g. Marathon Gold (Valentine Lake), Newfound Gold (Queensway), Galway Metals (Clarence Stream), First Mining (Hope Brook), Anaconda Mining (Pine Cove), Atlantic Gold (Moose River Mine).

 

The geological model sets the stage for discovery -- Quinton Hennigh, PhD describes the geological setting as a hybrid gold system, stating "there is evidence of an early epithermal enrichment that has been overprinted by orogenic processes." Dr. Henning is an exploration geologist that has identified many of the best next generation mining assets on the planet that are still in hands of junior exploration companies today and is an advisor to Crescat Capital LLC, which took a position in PUMA.V in August-2021 after his recommendation.

 

Click here to go to the 29 minute mark of related video where Dr. Henningh discusses the geological setting at Puma and how Puma's geological team is able to 'create windows into the geology' by exposing bedrock.

 

 

 

Figure 6. (above) -- Claims map of Williams Brook Gold Project. The O'Neil Gold Trend (annotated in red) is where current exploration efforts are underway. There are two other parallel gold trends (WB1GT & WB2GT) that have yet to be explored by Puma.

 

O'Neil Gold Trend

 

 

Figure 7. (above) -- O'Neil Gold Trend (OGT). Seen above are the zones of the OGT; O'Neil, Pepitos, Chubby, & Moose. The area from Pepitos to Lynx is now all stripped, mapped, and sampled (numerous samples currently in the lab). A wood cutting company is currently clearing the forest from chubby to moose to repeat what was done. The yellow in the image above is confirmed rhyolite (volcanic rock), the trenching was perpendicular the rhyolite as the geological team wanted to see how wide it went.

 

Spectacular samples taken along the O'Neil Gold Trend

 

 

Figure 8. (above) -- Select mineralization surface samples from various zones of the O'Neil Gold Trend.

 

High-Grade Selected Grab Samples Assays on the Prolific O’Neil Gold Trend (OGT):
 

O’Neil Gold Zone (VG**): 128.5 g/t Au, 44.4 g/t Au, 38.8 g/t Au, 32.8 g/t Au, 23.1 g/t Au

 

Pepitos Gold Zone (VG**): 52.1 g/t Au, 16.1 g/t Au, 15.0 g/t Au, 13.1 g/t Au, 4.87 g/t Au

 

Lynx Gold Zone (VG**): 241.0 g/t Au, 79.8 g/t Au, 74.2 g/t Au, 63.5 g/t Au, 58.4 g/t Au

 

Chubby Zone Area: 3.5 g/t Au, 1.2 g/t Au, 1.2 g/t Au, 0.45 g/t Au

 

Moose Gold Zone: 2.4 g/t Au, 2.1 g/t Au, 1.3 g/t Au, 1.1 g/t Au

 

 

Figure 9. (above) --Vein sets found on O'Neil Gold Trend -- Basically Puma has 3 sets of veins; some steep ones, some horizontal ones, and some parallel. Puma now has an improved understanding of what sections to avoid and how to orientate drills to maximize intercepts. The analysis of Puma's rock seen in the image above is from Terrane Geoscience Inc. which has done a lot of work for Marathon Gold.

  

 

Figure 10. (above) -- Close-up of initial areas opened up. The exposed bedrock has quartz veining (shown in red). The connectivity and pervasiveness of the veining in and between zones has the potential to be quite large. Notice the contact line, it runs 700 m long, the geological team will stay closer to the contact line going forward (no need to strip big; i.e. no need to go 200 m out like was done on initial Lynx zone). The shape of a future pit should be along the contact.

 

18 drill holes completed to date, 6 reported

 

 

Figure 11. (above) -- Highlights ; see related press release here.

 

Significant positive observations from the initial drilling results:
 
  The gold mineralisation starts at surface:
     ● WB21-01 intersected 1.30 g/t Au over 25.60 meters from 4.00 meters
     ● WB21-02 intersected 5.55 g/t Au over 50.15 meters from surface (0m)
     ● WB21-05 intersected 1.16 g/t Au over 48.70 meters from 1.50 meters

 
  The high-grade samples collected at surface are representative of the mineralization at depth:
     ● WB21-01 intersected 50.0 g/t Au over 0.50 meters
     ● WB21-02 intersected 59.68 g/t Au over 1.50 meters
     ● WB21-03 intersected 23.10 g/t Au over 0.65 meters
     ● WB21-05 intersected 16.07 g/t Au over 1.10 meters
     ● WB21-06 intersected 44.74 g/t Au over 0.70 meters
 

  Significant mineralized and altered thickness intersected:
     ● WB21-01 intersected 1.30 g/t Au over 25.60 meters
     ● WB21-02 intersected 5.55 g/t Au over 50.15 meters
     ● WB21-03 intersected 1.47 g/t Au over 12.10 meters
     ● WB21-05 intersected 1.00 g/t Au over 26.40 meters
     ● WB21-06 intersected 1.16 g/t Au over 48.70 meters
 

  The high-grade surface mineralization is extending at depth:
     ● WB21-02 intersected 59.68 g/t Au over 1.50 meters from 47.60 meters
     ● WB21-03 intersected 23.10 g/t Au over 0.65 meters from 56.85 meters
     ● WB21-04 intersected 2.84 g/t Au over 1.10 meters from 140.50 meters
     ● WB21-06 intersected 44.74 g/t Au over 0.70 meters from 47.60 meters
 

  The gold mineralisation is extending in the sediments:
     ● WB21-04 intersected 1.92 g/t Au over 0.70 meters from 16.80 meters
     ● WB21-04 intersected 2.84 g/t Au over 1.00 meters from 140.50 meters

 

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Looking at the bigger potential. VTEM shows there is lots of unexplored ground:

 

 

Figure 12. (above) -- Detailed VTEM Airborne Survey Showing Distinct Magnetic Signature. The geophysics show the low mag./high mag. contact; Puma has only explored a small piece of a large belt.

 

 

Figure 13. (above) -- The other two gold trends at Willams Brook are yet to be explored by Puma; Williams Brook 1 Gold Trend  (WB1GT) and Williams Brook 2 Gold Trend (WB2GT). Back in 2008 a past operator drilled 54 g/t over 2.8 m and they encountered some excellent trenching values. All the gold trends are parallel structures, there are likely more to be found. The only question is how big is this going to get.

 

 

Figure 14. (above) -- Numerous gold occurrences throughout Puma's claim blocks.

 

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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

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