Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or
"Puma") is pleased to report surface sampling results from its
ongoing 2024 exploration program at its Williams Brook Gold Project
located in New Brunswick, Atlantic Canada. A grab sample* returned
72.0 g/t Au in a new area located 10 km NE from
the Lynx Gold Zone (“LGZ”) along a potential trend that includes
the Jaguar and Cougar gold zones.
This quartz-rhyolite-limonite-sericite subcrop
returned the highest gold assay from surface sampling outside the
LGZ. Previous drilling along the 4 km-long Lynx Gold Trend has
confirmed that surface sampling is a strong vector for targeting
gold mineralization at depth. Puma’s work has found that surface
sampling grades translate to similar grades subsurface (Figure 1).
* The reader is cautioned that grab samples are selective by nature
and may not represent the true metal content of the mineralized
zone.
President and CEO of Puma, Marcel Robillard,
stated: “Work on the Williams Brook Project has been ongoing since
the beginning of the summer with two exploration teams undertaking
surface work on more than 20 priority targets throughout the land
package. This latest finding continues to highlight the potential
scale of our flagship project and further supports our work of the
last four years. We’ve always maintained that a large orogenic gold
system is at play here. These latest findings continue to support
our hypothesis.”
Newly discovered Lion Gold
Zone
The ongoing surface exploration program in 2024
uncovered several large quartz outcrops and subcrops in an area
that was never explored before, 4 km along strike away from the
Jaguar Gold Zone. This gold trend-oriented NE parallels the Lynx
Gold Trend, which extends more than 10 km between the Lynx and
Panthera gold zones.
The new gold zone, the Lion Gold Zone
(‘’LIGZ’’), is closely associated with a major fault, the
McCormack Brook Fault. Prospection uncovered altered sediment and
rhyolite with mineralized quartz veins similar to the
mineralization found at the LGZ. An initial ten (10) samples were
collected with assay highlights of 72 g/t Au, 2.61 g/t Au,
0.13 g/t Au and 0.07 g/t Au. The 72 g/t gold sample is
composed of quartz, oxidized sulphides and fragments of altered
rhyolite (Figure 2).
Figure 1. 2024 Exploration Program –
Discovery of the Lion Gold Zone
Figure 2. The 72 g/t gold
sample Following these findings, the
company brought an excavator to define and study this new zone
using the same systematic low-cost exploration approach, aiming to
bring this discovery to a drilling stage as soon as possible.
About the Williams Brook Gold
Project
Puma's flagship Williams Brook Gold Project
comprises four properties covering more than 50,000 ha in Northern
New Brunswick—an established and mining-friendly jurisdiction near
paved roads and excellent infrastructure. The land package is
located near the Rocky Brook Millstream Fault (“RBMF”), a major
regional structure formed during the Appalachian Orogeny and a
significant control for gold deposition in the region.
Puma’s successful exploration model returned,
amongst others, 5.50 g/t gold over 50.15 m in hole
WB21-02 (see Sept.15, 2021, News Release), 2.77 g/t gold
over 42.80 m in hole WB 22-66 (see June 8, 2022, News
Release), 2.49 g/t gold over 63.05 m in WB23-139
(see Oct. 31, 2023 News Release), 5.15 g/t gold over 23.15
m in WB23-142 and 1.24 g/t gold over 98.05
m in WB23-145 (see Nov. 16, 2023 News Release).
Since 2021, with less than C$15M of exploration
investment, Puma has made multiple gold discoveries at the Williams
Brook property and believes it hosts an extensive orogenic gold
system. Puma’s ongoing exploration programs are focused on building
a gold camp in Northern New Brunswick, Canada.
Dr. Gregg Morrison, a leading expert on
intrusion-related, porphyry, and epithermal gold systems, stated:
“I believe Williams Brook is part of the same family of
gold systems as Fosterville and Sunday Creek in Australia and
Valentine Lake in Newfoundland. These other deposits are
known for their structure-controlled mineralization, metal zoning,
free gold in bonanza shoots and kilometre scale depth extent. The
similarities to these more comprehensively explored deposits gives
real confidence to deeper drilling in the Lynx Zone and continued
exploration around the feeder structures in the Williams Brook
District.’’
Qualified Person
Dominique Gagné, P.Geo, operator of Geominex, a
company that provides independent consulting services to Puma and a
qualified person as defined by National Instrument 43-101—Standards
of Disclosure for Mineral Projects, has reviewed and approved this
release's technical information.
About Puma Exploration
Puma Exploration is a Canadian-based mineral
exploration company with precious metals projects in New Brunswick,
near Canada's Famous Bathurst Mining Camp ("BMC"). Puma has a long
history in Northern New Brunswick, having worked on regional
projects for over 15 years.
As a first mover, the Company quickly and
strategically accumulated an impressive portfolio of prospective
gold landholdings in the area. Puma’s successful exploration
methodology combines old prospecting methods with detailed
trenching and up-to-date technology such as Artificial Intelligence
(“AI”) to facilitate an understanding of the geology and associated
mineralized systems.
Armed with geophysical surveys, geochemical
data, and consultants’ expertise, Puma has developed a low-cost
exploration tool for discovering gold at shallow depths and
maximizing drilling results.
The Company is also committed to deploying its
DEAR strategy (Development.
Exploration. Acquisition. and
Royalties) to generate maximum value for
shareholders with low share dilution.
Connect with us on Facebook / X/ LinkedIn.Visit
www.explorationpuma.com for more information or contact:
Marcel Robillard. President and
CEO. (418) 750-8510;president@explorationpuma.com
Mia Boiridy. Head of Investor Relations and
Corporate Development. (250) 575-3305;
mboiridy@explorationpuma.com
Neither the 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 several known and unknown risks, uncertainties,
and other factors that 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. The quarterly and annual reports and
the documents submitted to the securities administration describe
these risks and uncertainties.
Photos accompanying this announcement are
available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/f0278366-c0da-4815-b4ad-cc3b402cbc6dhttps://www.globenewswire.com/NewsRoom/AttachmentNg/3df5fcd4-6f64-41f1-a3ea-ef3633e9107c
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