Discovery hole WB21-02 intersected 5.55 g/t Au over 50.15 meters from surface. The mineralized and altered zone drilled includes two main high-grade intercepts of 9.88 g/t Au over 8.60 meters and 46.94 g/t Au over 3.85 meters. All the six (6) first holes intersected significant high-grade gold quartz veins and quartz networks within the altered and mineralized rhyolite (see Table 1 for significant drill results).
Figure 1: Inaugural Drilling Program at
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Table 1. Significant Drill Results at the
Hole ID | From (m) | To (m) | Lenght (m) | Au (g/t) |
WB21-01 | 4,00 | 29,60 | 25,60 | 1,30 |
incl. | 4,00 | 9,40 | 5,40 | 5,10 |
incl. | 4,00 | 6,10 | 2,10 | 12,71 |
and | 16,50 | 17,00 | 0,50 | 2,17 |
and | 29,40 | 29,60 | 0,20 | 9,81 |
WB21-02 | 0,00 | 50,15 | 50,15 | 5,55 |
incl. | 7,20 | 15,80 | 8,60 | 9,88 |
incl. | 7,20 | 10,20 | 3,00 | 8,33 |
and | 13,70 | 15,80 | 2,10 | 28,52 |
21,00 | 22,00 | 1,00 | 2,89 | |
29,00 | 30,00 | 1,00 | 1,84 | |
31,45 | 33,00 | 1,55 | 3,77 | |
36,20 | 37,40 | 1,20 | 0,45 | |
incl. | 45,60 | 49,45 | 3,85 | 46,94 |
incl. | 45,60 | 46,60 | 1,00 | 69,90 |
and | 47,60 | 49,45 | 1,85 | 59,68 |
WB21-03 | 20,55 | 58,10 | 37,55 | 0,55 |
incl. | 20,55 | 21,65 | 1,10 | 2,78 |
and | 46,00 | 58,10 | 12,10 | 1,47 |
incl. | 55,90 | 58,10 | 2,20 | 7,81 |
WB21-04 | 13,75 | 18,90 | 5,15 | 0,26 |
13,75 | 14,35 | 0,60 | 1,10 | |
88,00 | 88,50 | 0,50 | 0,40 | |
138,30 | 143,80 | 5,50 | 0,95 | |
incl. | 140,50 | 141,50 | 1,00 | 2,84 |
WB21-05 | 12,00 | 38,40 | 26,40 | 1,00 |
incl. | 26,00 | 38,40 | 12,40 | 2,08 |
incl. | 26,00 | 28,00 | 2,00 | 12,64 |
WB21-06 | 1,50 | 50,20 | 48,70 | 1,16 |
incl. | 29,00 | 49,70 | 20,70 | 2,73 |
incl. | 31,80 | 34,50 | 2,70 | 1,92 |
and | 36,00 | 37,60 | 1,60 | 1,25 |
and | 46,80 | 49,70 | 2,90 | 16,92 |
incl. | 46,80 | 48,30 | 1,50 | 24,66 |
* Stated lengths in meters are downhole core lengths and not true widths. True widths will be calculated once more drilling confirms the geometry of the quartz-sulphide system.
All 18 drill holes completed to date, testing the
Figure 2: The O’Neil Gold Trend Selected Grab** Samples Collected at Surface
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** Selected rock grab samples are selective by nature and may not represent the true grade or style of mineralization across the property.
“The drill results, announced today, clearly demonstrates the tremendous gold potential of our
“It is really exceptional to make such a great gold discovery in such a short period of time and with a limited exploration budget. This is the result of the dedicated hard work of all the professionals working with Puma,” commented
SIGNIFICANT POSITIVE OBSERVATIONS FROM THE INITIAL DRILLING RESULTS:
- The gold mineralisation starts at surface:
- WB21-01 intersected 1.30 g/t Au over 25.60 meters from 4.00 meters
- WB21-02 intersected 5.55 g/t Au over 50.15 meters from surface (0m)
- WB21-05 intersected 1.16 g/t Au over 48.70 meters from 1.50 meters
- The high-grade samples collected at surface are representative of the mineralization at depth:
- WB21-01 intersected 50.0 g/t Au over 0.50 meters
- WB21-02 intersected 59.68 g/t Au over 1.50 meters
- WB21-03 intersected 23.10 g/t Au over 0.65 meters
- WB21-05 intersected 16.07 g/t Au over 1.10 meters
- WB21-06 intersected 44.74 g/t Au over 0.70 meters
- Significant mineralized and altered thickness intersected:
- WB21-01 intersected 1.30 g/t Au over 25.60 meters
- WB21-02 intersected 5.55 g/t Au over 50.15 meters
- WB21-03 intersected 1.47 g/t Au over 12.10 meters
- WB21-05 intersected 1.00 g/t Au over 26.40 meters
- WB21-06 intersected 1.16 g/t Au over 48.70 meters
- The high-grade surface mineralization is extending at depth:
- WB21-02 intersected 59.68 g/t Au over 1.50 meters from 47.60 meters
- WB21-03 intersected 23.10 g/t Au over 0.65 meters from 56.85 meters
- WB21-04 intersected 2.84 g/t Au over 1.10 meters from 140.50 meters
- WB21-06 intersected 44.74 g/t Au over 0.70 meters from 47.60 meters
- The gold mineralisation is extending in the sediments:
- WB21-04 intersected 1.92 g/t Au over 0.70 meters from 16.80 meters
- WB21-04 intersected 2.84 g/t Au over 1.00 meters from 140.50 meters
INAUGURAL DRILLING PROGRAM AT WILLIAMS BROOK GOLD PROJECT
As planned, a total of 18 holes were completed for 2,360 meters (see Table 3). The NQ core oriented maiden drill program was conducted to test a segment of the 700-meter-long O’Neil Gold Trend (OGT), part of the
Figure 3: 2021 Detailed VTEM Airborne Survey Showing Distinct Magnetic Signature
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The drilling program was designed to better understand the spatial geometry of the mineralized envelope and discover any new potential high-grade zones extending at depth. It was planned with the support of
The holes were oriented to intersect the down-dip projection of significant high-grade gold vein networks exposed at surface in trenches and in stripped areas at the
Table 3. Technical Information About the Drill Holes Released
Hole ID | Utm X | Utm Y | Orientation | Angle | Lenght (m) |
WB21-01 | 660264 | 5259318 | N155º | -45 º | 134 |
WB21-02 | 660264 | 5259318 | N155º | -45 º | 140 |
WB21-03 | 660252 | 5259345 | N155º | -45 º | 80 |
WB21-04 | 660252 | 5259345 | N155º | -45 º | 170 |
WB21-05 | 660274 | 5259322 | N155º | -45 º | 107 |
WB21-06 | 660273 | 5259322 | N155º | -45 º | 152 |
CORE OBSERVATIONS
Each of the 18 diamond drill holes show consistent mineralization and pervasive alteration over core length varying between 10 m to 75 m starting at surface. The main features observed included: abundant quartz veins and large network of quartz veinlets showing pervasive sericite and iron alteration. Disseminated sulphides and oxides (galena, chalocopyrite, pyrite, sphalerite, stibinite, bornite, covellite, tetrahedrite and malachite) were also present within the strong alterated intervals and within quartz veins. Visible Gold (VG) was observed in many holes. The veins are granulars, drusics, and sometimes massive within the altered porphyric rhyolite in contact with the sediments. The sediments are composed of altered siltstone interbed with mudstone.
Figure 4: High-
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Drilling ended
CURRENT WORK
The technical team is on site to proceed with trenching and stripping operations to extend the favorable contact between the altered rhyolite and the sediments along the entire O’Neil Gold Trend. A large grab sampling program with detailed mapping of the favourable contact is in progress. A permanent crew with one excavator moves forward with exploration trenches in the entire area. Drill pads for the next core oriented drill campaign are also being prepared.
O’NEIL GOLD TREND (OGT)
The O’Neil Gold Trend (OGT) is a pervasive altered and brecciated rhyolite unit hosting significant gold showings and occurences followed by trenching 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.
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.
High-Grade Selected Grab Samples Assays on the Prolific O’Neil Gold Trend (OGT)*:
O’Neil Gold Zone (VG**): | 128.5 g/t Au, 44.4 g/t Au, 38.8 g/t Au, 32.8 g/t Au, 23.1 g/t Au | |
52.1 g/t Au, 16.1 g/t Au, 15.0 g/t Au, 13.1 g/t Au, 4.87 g/t Au | ||
241.0 g/t Au, 79.8 g/t Au, 74.2 g/t Au, 63.5 g/t Au, 58.4 g/t Au | ||
3.5 g/t Au, 1.2 g/t Au, 1.2 g/t Au, 0.45 g/t Au | ||
2.4 g/t Au, 2.1 g/t Au, 1.3 g/t Au, 1.1 g/t Au |
* Selected rock grab samples are selective by nature and may not represent the true grade or style
** VG: Visible Gold
QUALIFIED PERSONS
QUALITY ASSURANCE/QUALITY CONTROL (QA/QC)
Rock samples were bagged, sealed and sent to the facility of
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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.
Figure 1: Inaugural Drilling Program at Lynx Gold Zone of the O’Neil Gold Trend
Inaugural Drilling Program at Lynx Gold Zone of the O’Neil Gold Trend
Figure 2: The O’Neil Gold Trend Selected Grab Samples Collected at Surface
The O’Neil Gold Trend Selected Grab Samples Collected at Surface
Figure 3: 2021 Detailed VTEM Airborne Survey Showing Distinct Magnetic Signature
2021 Detailed VTEM Airborne Survey Showing Distinct Magnetic Signature
Figure 4: High-Grade Gold Core from WB21-02
High-Grade Gold Core from WB21-02
2021 GlobeNewswire, Inc., source