2023 Highlights:
Williams Brook
- Positive metallurgy: Initial metallurgical testing revealed the rock at the
Lynx Gold Zone (“LGZ”) is non-acid-generating and that 92% of the gold can be recovered by gravity alone. - Puma received the permit for 4,000 T bulk sampling at the LGZ.
- Grab samples on newly identified gold-bearing quartz veins graded up to 288.00 g/t gold.
- A new gold showing, the
Tiger Gold Zone , was discovered 350 m from the LGZ along the Lynx Gold Trend and returned 19.90 g/t gold and 14.50 g/t gold, confirming continuous high-grade gold mineralization over 1.5 km. - A new prospective area, the
Cheetah Gold Zone (“CHGZ”), was discovered 3km along strike from theTiger Gold Zone , returning 6.69 g/t gold in initial trenching operations.
- The 24 holes (3,475 m) drilled in 2023 successfully extended the width and length of the high-grade gold shoots identified previously at the LGZ. They demonstrated the continuity of mineralization over long intervals:
- Gold was intercepted at depth in areas never drilled before.
- Half of the holes intersected visible gold between 100 m and 211 m downhole depth. Highlights include 137.0 g/t gold over 0.60 m (WB23-139), 96.0 g/t gold over 0.45 m (WB23-139), 63.6 g/t gold over 0.30 m (WB23-136), 16.85 g/t gold over 0.79 m (WB23-137).
- High-grade gold mineralization was shown to start at surface. WB23-136 returned 30.90 m grading 1.10 g/t gold from 8 m depth, and WB23-137 returned 5.00 m of 2.79 g/t gold from 2 m below surface.
- The high-grade gold shoots were shown to consist of multiple stacked veins extending to depth.
- Hole WB23-125 intersected fifteen (15) separate quartz veins and returned 90 m of 0.70 g/t gold from surface (at 2.90 m) with an impressive 50.85 m of 1.05 g/t gold starting at 42 m depth, including a 4.50 m interval of 6.46 g/t gold at 75 m depth.
- WB23-139 intersected 63.05 m at 2.49 g/t gold, including two (2) high-grade gold intervals of 37.40 g/t gold over 2.50 m and 21.66 g/t gold over 2.55 m.
- Hole WB23-125 intersected fifteen (15) separate quartz veins and returned 90 m of 0.70 g/t gold from surface (at 2.90 m) with an impressive 50.85 m of 1.05 g/t gold starting at 42 m depth, including a 4.50 m interval of 6.46 g/t gold at 75 m depth.
- The high-grade shoots have now been traced to at least 250 m depth and 400 m strike length.
- Drilling showed that thick lower-grade gold envelopes surround the higher-grade gold shoots (0.49 g/t to 0.67 g/t gold over 22.80 to 30.95 m), resulting in impressive lengths of continuous gold mineralization, such as 100.90 m of 1.25 g/t gold in WB23-142 and 98.05 m of 1.24 g/t gold in WB23-145. These long intervals favour open pit mining scenarios and will positively impact the mineral resource estimation of the deposit.
- Gold was intercepted at depth in areas never drilled before.
The Lynx Gold Zone now spans 750 m along strike, 100 m wide and 175 m deep.The Panthera Gold Zone (“PGZ”) was discovered about 12 kilometres northeast of theLynx Gold Zone . Three (3) trenches exposed gold in quartz veins at surface that graded 9.87 g/t Au, 8.67 g/t Au, 7.45 g/t, 6.18 /gt Au, 5.92 g/t Au, 5.15 g/t Au, 4.05 g/t gold and 3.27 g/t Au.
Figure 1. Main gold zones at the
Corporate
- Under its “DEAR” (Development, Exploration, Acquisition and Royalties) strategy, Puma continues to identify opportunities to increase shareholder value. To further increase its landholdings in
Northern New Brunswick , the Company staked another 105 claims (2,300 ha) contiguous to its Williams Brook South property and signed an LOI to acquire the TIMM property. Both additions are strategically located and can potentially add to the project’s gold inventory. Couloir Capital initiated analyst coverage.- Puma raised
$3,035,645 inMay 2023 to fund 100% of its 2023 exploration program. Another$1,340,000 was raised inDecember 2023 to launch the Company’s 2024 program. - Puma received 3,637,873 common shares of
Canadian Copper (CSE: CCI) as part of CCI’s first-anniversary payment outlined in the Option Agreement datedJune 30, 2021 . Puma now holds 10,001,968 CCI shares, representing a 13.48% ownership. - Puma strengthened its technical and advisory committee. Dr.
Simon Dominy , an expert in the design and implementation of bulk sampling programs, will supervise the Company’s upcoming Bulk Sampling Program and ensure proper planning and success. Mr.Jean-David Moore , a consultant and advisor to several mineral exploration and development companies, will contribute his extensive industry experience, knowledge, and network as we continue to develop ourWilliams Brook Gold Project .
2024 Outlook
Puma is focused on growing the volume, scale and grade at the
- With drilling, prove the continuity of the high-grade gold mineralization sampled at surface at the
Tiger Gold Zone along the 1.5km strike extension of the Lynx Gold Trend. Drilling is expected to begin inFebruary 2024 . - Expand to depth the high-grade mineralized intercepts drilled in 2023 at the
Lynx Gold Zone . Drilling is expected to follow the initial drilling atTiger Gold Zone . - Demonstrate and continue to improve the gold recoveries at Williams Brook with conventional processing techniques.
- Expand regional exploration to new areas of the property and newly acquired land packages to identify additional priority targets and add to the project’s gold inventory.
Upcoming Gold Investor Events
Puma invites shareholders and interested parties to stop by the booth, attend a presentation, or schedule a meeting at the upcoming conferences to discuss the Company's recent news and proposed developments:
VRIC 2024,
Booth 409
Booth IE2152
Convention (pdac.ca)
About the
Puma's flagship
Since 2021 and with less than
Dr.
Figure 2. Main gold showings and occurrences at the
Qualified Person
The technical information of this release was reviewed and approved by
About
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:
president@explorationpuma.com
Neither the
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/23d3b843-d3e6-40a9-bbeb-c0d08d861d6d
https://www.globenewswire.com/NewsRoom/AttachmentNg/b8e02dac-11da-4404-b4cd-4471a1c84819
Figure 1. Main gold zones at the Williams Brook Gold Project
Main gold zones at the Williams Brook Gold Project
Figure 2. Main gold showings and occurrences at the Williams Brook Gold Project
Main gold showings and occurrences at the Williams Brook Gold Project
2024 GlobeNewswire, Inc., source