Puma Exploration samples up to 46.8 g/t Au at Williams

2021-11-17 09:13 ET – News Release

Mr. Marcel Robillard reports


Puma Exploration Inc. has discovered nine new gold-bearing quartz veins along the O’Neil gold trend (OGT) and reports surface samples grading up to 46.8 grams per tonne gold, extending the gold mineralized corridor over a continuous distance of 275 metres at its Williams Brook gold project located in New Brunswick, an emerging new gold district of Atlantic Canada.

The continuing systematical stripping, mapping and sampling program along the OGT permitted to identify a swarm of one to five metres thick quartz veins and veinlets extending 275 m northeast of the Lynx gold zone where DDH WB21-02 returned 5.55 g/t Au over 50.15 m. Following these exciting new discoveries, Puma contracted three excavators, two trucks and one bulldozer to keep extending the kilometric altered and gold-mineralized corridor along the highly potential O’Neil gold trend in preparation for the upcoming 10,000-metre drilling program. Continuous flow of results is expected to be generated from the work in progress.

Furthermore, the company received the assay results from additional samples collected at surface in areas yet untested by drilling. Values as high as 46.8 g/t Au, 31.0 g/t Au, 21.3 g/t Au, 19.2 g/t Au, 18.9 g/t Au, 18.8 g/t Au and 11.4 g/t Au are reported. In addition, a trend of samples with high silver values were identified at Chubby and Pepitos. These types of silver values are often associated with the gold and characterize low epithermal systems.

The mineralized zone is related to the contact between rhyolite/sediment rocks oriented approximately 45 degrees with a moderate/shallow dipping to the northwest and forms different high grade (greater than 10 g/t Au) to lower grade (0.3 g/t Au) clusters perpendicular and parallel to the favourable contact. A pervasive limonite alteration with disseminated sulphides also characterizes the gold-bearing corridor for more than 700 m from the O’Neil to the Moose gold occurences along the O’Neil gold trend.

Those newly defined high-grade gold veins and veinlets, more likely represent multiple cores of high-grade gold enrichment networks (see Figure 5). These high grade cores become first priority targets for the upcoming 10,000 meters drilling program and could generate drill intersections similar to the discovery hole WB21-02 with 5.55 g/t Au over 50.5m (see PR-21-09-15) implemented to test similar high grade gold surface samples (see PR21-03-15).

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.

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 twelve (12) first holes are released and all 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.

Qualified persons

Dominique Gagne, 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. Gagne 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 Inc.

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.