The helicopter-borne geophysical surveys consisted of Mag and EM using the versatile time-domain electromagnetic (VTEM™) plus system with Full-Waveform processing. Measurements consisted of Vertical (Z) and In-line Horizontal (X&Y) components of the EM fields using an induction coil and a horizontal magnetic gradiometer using two caesium magnetometers. A total of 1,552 line-kilometers of EM and 1,685 km of magnetic data were acquired (see Figure 2).
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 of mineralization across the property.
2021 Exploration Program
The initial program will be directed on the newly discovered O’Neil Gold Trend, confirmed so far by trenching over 650 meters. More trenching, stripping and the inaugural drilling program will explore the favorable contact (Sediments/Rhyolite) hosting the high-grade gold area between the O’Neil Gold Zone to the
- Cleaning the 2020 trenches with pumps and excavator
- Detailed Mapping of the cleaned trenches and stripped area
- Structural Experts analysis and study with
Terrane Geoscience Inc. - Systematic Channels sampling
Drone Aerial Survey - IP ground geophysical survey
- Drilling Campaign of 4,000 meters
Detailed work program will be announced to keep the shareholders up-to-date with current exploration and developments as they occur.
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 7.0 km. The favourable unit (rhyolite) is similar and parallel to the structures hosting the “Williams 1” and “Williams 2” Gold Zones with selected drill results of 11.2 g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over 23m.
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 altered horizon varies from 5 to 250 meters with an average apparent thickness of 150 meters. Numerous quartz veins, quartz veinlets, stockworks and breccias were observed mostly perpendicular to the major trend and contain the gold mineralization. The OGT has never been drilled and many gold zones were discovered during the summer 2020 exploration campaign. Assays are still pending for the Lynx, Chubby, and Moose Gold Zones.
TRIPLE FAULT GOLD PROJECT
Puma is currently focusing its field work on its first priority, the Williams Brook Gold property. The Williams Brook Gold property includes selected drill results of 11.2 g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over 23m, gold occurrences grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 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 kilometers.
There has been very limited drilling and exploration in the area mapped to be part of the
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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.
Figures accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9f14cd45-eb1e-4427-a4b4-80132de6c68b
https://www.globenewswire.com/NewsRoom/AttachmentNg/37ae0aff-aa74-4070-a8bc-c36e43c613fd
Figure 1
Geophysical Signature of the O’Neil Gold Trend New Discoveries
Figure 2
VTEM Survey Map of the Williams Brook Property
2021 GlobeNewswire, Inc., source