RIMOUSKI, QUEBEC–(Marketwired – Nov. 9, 2017) – Puma Exploration inc. (the “Company” or “Puma”) (TSX VENTURE:PUM)(SSE:PUMA) is pleased to announce the results of drillholes MB17-02 and MB17-03 from the 2017 drilling program at its Murray Brook Deposit in New Brunswick. Hole MB17-03 intersected the surface rich zinc and copper zone grading 6.60% Zn, 1.70% Pb, 0.53 g/t Au, 71 g/t Ag, 1.15% Cu over 10 meters and a new copper stringers zone grading 1.02% Cu over 26 meters.
The 2017 preliminary drilling program consisted of three (3) holes (774m), including one deep hole and two shallow, the first was designed to verify the extensions, at depth, of the Murray Brook Deposit. As released, Hole MB17-01 successfully intersected impressive massive sulphide mineralization over 405 meters grading 3.3% Zn, 1.1% Pb, 0.95g/t Au, 42g/t Ag, and 0.30% Cu (see press release of October 31st, 2017). The two shallow holes followed to confirm the continuity of the fertile Caribou Horizon near the known deposit.
Hole MB17-03 intersected a new zone of copper stringers near surface grading 1.02% Cu over 26 meters including a higher zone with 1.47% Cu over 13 meters. This new zone opens the western side of the Murray Brook Deposit along the favorable and fertile Caribou Horizon which shows over a length of one kilometer high priority targets (refer to Figure 1). Results from hole MB17-02 allowed to outline structural constraints and to orient future exploration work.
These priority targets are indicated by major gravity, chargeability and Megatem (EM) anomalies. In light of the results from these holes, Puma has started an important exploration program in the vicinity of the newly expanded southwest section of the Deposit which will include trenching and drilling operations.
Hole MB17-02 was collared in the south part of the West Zone (Zinc) and drilled at a -45° declination for a total depth of 72 meters. A major fault with a width of 8 meters was intercepted and consisted mainly of quartz veins. The sediments in this hole were less altered with a few intervals of felsic volcanic interbedded. The best intersection was 0.42 g/t Au, 0.96% Pb+Zn over 2.7 meters located in the altered footwall sediments. However, hole MB17-02 does confirm previous exploration results and directs the upcoming exploration program to the more favourable Caribou Horizon located directly west of the hole.
Hole MB17-03, drilled at a -50 declination to a total depth of 153 meters, is located at the western boundary of the West Zone (Zinc) of the Murray Brook Deposit (refer to figure 2). The hole encountered three (3) separate significant zones:
- a Gossan zone, 6 meters wide grading 0.96 g/t Au, 255 g/t Ag, 5.95% Pb;
- a massive sulphide zone of 10 meters width, having grades of 6.60% Zn, 1.70% Pb, 0.53 g/t Au, 71 g/t Ag, 1.15% Cu and;
- a stringer zone, 13 meters in width grading 1.47% Cu, 0.62% Zn.
The entire hole is located mainly inside the footwall alteration sediments of the Deposit and opens the mineralized zone westward at depth along the fertile Caribou Horizon. Please refer to Table 1 for highlights of the results.
Table 1. Significant Intercepts in Holes MB17-02 and MB17-03*
|*||True thickness is estimated to be approximately 70-90% of the reported intervals.|
As commented by Marcel Robillard, President of Puma: “The hole MB17-03 has significantly expanded and opened the discovery area of the Murray Brook Deposit toward west along the fertile Caribou Horizon. It allows us to further increase the footprint of the deposit closer to the surface and will focus current exploration efforts along the Caribou Horizon at proximity of the Murray Brook Deposit”.
The next phase of the 2017 exploration program has begun on one (1) kilometer of prospective new area in the western part of the Murray Brook Deposit and will consist of trenching and drilling. Puma’s geologists have defined several new high priority targets based on their stratigraphic location and proximity to the Deposit. These targets are along the fertile Caribou Horizon, where an historic hole intersected 2.10% Cu over 1.9 meters near a major chargeability anomaly and two (2) gravity anomalies (see Figure 1 at the following address: http://media3.marketwire.com/docs/171109_PUM_Figures.pdf).
Qualified Persons and QC/AC
The content of this press release was prepared by Marcel Robillard, P.Geo., President and Dominique Gagné, P.Geo., Vice President Exploration, qualified persons as defined by NI 43-101, who supervised the preparation and technical information that forms the basis for 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. Robillard and Mr. Gagné are not independent of the Company, as both are officers and shareholders thereof. The samples were prepared, sent, processed at ALS Val D’Or, Québec and ALS Sudbury, Ontario. All samples were assayed by ME-ICP41 method and gold was assayed by AU-AA26 method. QA/QC are monitored by the analysis of blanks, reference material and replicate samples at a frequency of one (1) of each per 30 samples.
About the Murray Brook Project
The Murray Brook Project consists of three (3) distinct contiguous areas that cover more than 18 kilometers of the favorable rocks that host the operating Caribou Mine (Trevali Mining Corp.), the Murray Brook Deposit and the past operating Restigouche Mine (Trevali Mining Corp.). From east to west, the project comprises the Murray Brook East Property (4925), the Murray Brook Mining Lease (# 252) and the Murray Brook West Property (7846) (refer to website).
The Murray Brook East and Murray Brook West Properties have been subject to various degrees of exploration and share the same potential of increasing the mineral resources defined at the Murray Brook Deposit. The Company has defined several future priority targets on these properties (see Figure 2 at the following address: http://media3.marketwire.com/docs/171109_PUM_Figures.pdf).
The Murray Brook deposit has a currently defined measured and indicated mineral resources of 5.28 million tonnes averaging 5.24% zinc, 1.80% lead, 0.46% copper, 68.9 g/t silver and 0.65 g/t gold. The core of the mineral resource occurs in the West Zone which is 200 meters wide, extending from surface to 300 meters vertical and the true thickness of the massive sulphide body varies from 75 meters to 100 meters. The East Zone (Copper-Gold) is 100 meters wide, also extending from surface to 300 vertical meters and is mainly mineralized with gold and copper. On February 20th 2017, a NI 43-101 report was accepted and filed on SEDAR.
About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company’s major assets consist of an option to acquire 100% per cent beneficial interest in the Murray Brook Property, the Turgeon Zinc-Copper Project and the Nicholas-Denys Project located in New Brunswick as well as an equity interest in BWR Resources, Manitoba. Puma’s objective for the coming year is to focus its exploration efforts in New Brunswick.
Learn more by consulting www.pumaexploration.com for further information on Puma Exploration Inc.
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 Exploration Inc. 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 Exploration 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.
To view the figures associated with this press release, please visit the following link: http://media3.marketwire.com/docs/171109_PUM_Figures.pdf