RIMOUSKI, Quebec, June 17, 2020 (GLOBE NEWSWIRE) — Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is pleased to announce the launch of its first exploration program at its flagship TRIPLE FAULT GOLD PROJECT in New Brunswick (figure 1). The initial phase of the program will incorporate large detailed prospecting, mapping, trenching, and stripping focused over the entire William Brook Property of the Triple Fault Gold Project. The William Brook property includes selected drill results of 11.2 g/t over 2.8m, 1.0 g/t over 23m, gold occurrences grading up to 50.8 g/t Au in bedrock, numerous gold soil anomalies and extremely anomalous till samples with up to 508 gold grains that occur over an area approximately 12 by 3 kilometres (figure 2).
The objective of the first phase is to explore these anomalies and verify the extent of the current gold mineralization found by the previous operators and prospectors, of which most anomalies are still open in all directions and where follow-up work has never been executed for drilling targets generation (figures 3&4). The property is easily accessible by paved Route 180 that passes through the property and by numerous logging roads.
HIGHLIGHTS:
■ Only a small area has been drilled (500m x 500m) with gold intersections open in all directions
■ Many gold occurrences with up to 50.8 g/t Au which never received any follow-up work
■ Large soil anomalies have never been tested over 300ppb Au over 4km length
■ Grassroot property with over 25,000 ha of prospective land ready for major discoveries
Marcel Robillard, president and CEO said: “I’m very excited to launch this first initial field program at the Triple Fault Gold Project, which represents a lot of work and determination to consolidate landholdings held 100% by Puma, and which could be considered as a potential emerging district-scale gold area. Our 15 years of experience and knowledge has allowed us to acquired some of the best gold projects in one area with the goal to execute our first drilling program in the area’’.
Puma Exploration has received all the necessary authorizations from the New Brunswick government in light of the pandemic and field work is authorized to begin.
TRIPLE FAULT GOLD AREA
The Triple Fault Gold Project includes four (4) properties named Williams Brook, Jonpol, Rocky Brook, and Portage and controls more than 25,000ha of favorable gold exploration. There are many gold occurrences up to 50.8 g/t Au, 40.5 g/t Au, 28 g/t Au, 17 g/t Au with previous holes intersected 11.2 g/t over 2.8m, 8.02 g/t Au over 1.0m, 1.0 g/t over 23.0m, 3.46 g/t Au over 2.0m. There has been very limited drilling and exploration in the area. The Dunnage Zone hosts major gold deposits and gold occurrences in siluro-devonian host rocks with the emergence of many companies in Eastern Canada like Galway Metals and Marathon Gold.
QUALIFIED PERSONS
Dominique Gagné, PGeo, independant 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.
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.
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Learn more by consulting www.pumaexploration.com for further information on Puma.
Marcel Robillard, President
(418) 724-0901
[email protected]
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.
Photos accompanying this announcement are available at:
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https://www.globenewswire.com/NewsRoom/AttachmentNg/745b9b36-17b4-4ef3-9b56-147f1ef919d4
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Figure 1 – Triple Fault GOLD Area (100%)
Triple Fault GOLD Area (100%)
Figure 2 – Williams Brook Project
Williams Brook Project
Figure 3 – Williams Brook Project – EXPLORATION (Center)
Williams Brook Project – EXPLORATION (Center)
Figure 4 – Williams Brook Project – EXPLORATION (South)
