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    PUMA   CA74588S2029


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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Puma Exploration : Identifies More High-Grade Gold Veins With up to 199 G/T* Au From Surface Sampling on Its Williams Brook Gold Property, Atlantic Canada

10/14/2021 | 09:33am EST

RIMOUSKI, Quebec, Oct. 14, 2021 (GLOBE NEWSWIRE) -- Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is pleased to provide additional results, which include very high-grade gold assays of 199 g/t Au, 192 g/t Au, and 170.5 g/t Au, from the 2021 field exploration surface sampling program on the 100% controlled Williams Brook Gold Property in New Brunswick, Atlantic Canada.

Table 1. Selected High-Grade Grab Samples* Collected at Surface Between Lynx and Chubby Zones

LocationSampleUtm XUtm YLithologyTypeAu (g/t)Ag (g/t)
Lynx-ChubbyC0994296602685259314Quartz Veino/c199.0018.60
Lynx-ChubbyC0994366602635259312Quartz Veino/c192.0036.20
Lynx-ChubbyD2798316602595259307Quartz Veino/c170.5038.20
Lynx-ChubbyC7333486602815259306Quartz Veino/c52.101.88
Lynx-ChubbyD2798296602575259296Quartz Veino/c51.4022.90
Lynx-ChubbyC7333446602795259305Quartz Veino/c50.402.75
Lynx-ChubbyD2797876602865259367Quartz Veino/c46.801.40
Lynx-ChubbyC0994246602755259314Quartz Veino/c46.006.29
Lynx-ChubbyC0994486602815259314Quartz Veino/c31.601.71
Lynx-ChubbyD2796736603045259362Quartz Veino/c31.002.74
Lynx-ChubbyC0994336602655259313Quartz Veino/c28.603.42
Lynx-ChubbyC0994316602675259313Quartz Veino/c26.303.43
Lynx-ChubbyD2796816603045259360Quartz Veino/c21.303.35
Lynx-ChubbyC0994376602615259311Quartz Veino/c19.502.13
Lynx-ChubbyC0994236602765259314Quartz Veino/c12.655.76
Lynx-ChubbyD2797526602755259365Quartz veino/c9.190.81
Lynx-ChubbyC0994456602795259314Quartz Veino/c9.022.40
Lynx-ChubbyD2797636602785259364Quartz veino/c8.810.99
Lynx-ChubbyC0994976602635259341Quartz Veino/c7.460.27
Lynx-ChubbyD2795136602895259307Quartz Veino/c6.732.19
Lynx-ChubbyD2795556602675259359Quartz veino/c6.290.45
Lynx-ChubbyC0994646602585259325Quartz Veino/c5.830.10
Lynx-ChubbyC0994306602685259313Quartz Veino/c5.692.59
Lynx-ChubbyD2798306602595259297Quartz Veino/c5.358.27

* Selected rock grab samples are selective by nature and may not represent the true grade or style

The systematic surface sampling program was conducted along the O’Neil Gold Trend (OGT) between the Lynx and Chubby Gold Zones, following the 2021 spring-summer stripping and detailed mapping operations. The significant new grab samples are illustrated in Figure 1.

The first 380 surface grab samples received, so far, illustrate perfectly the very high-grade gold enrichment contact between the sediments and the rhyolite. The arithmetic average of the 380 new samples collected is 3.14 g/t Au which includes all the results from below detection limit to a maximum value of 199 g/t Au. A total of 103 samples returned values over 0.3 g/t Au including 66 that assayed better than 1.0 g/t Au. The assay results from an additional 214 samples from the current systematic surface sampling program between the Lynx and Chubby Gold Zones are still pending and are shown on Figure 1 towards the Chubby Gold Zone.


The core-oriented maiden drill campaign was completed on August 20, 2021. It consisted of 18 holes for a total of 2,360 meters that tested a 200-meter segment of the 700-meter-long O’Neil Gold Trend (OGT). The assay results for the first six holes were released mid-September and all six (6) holes intersected significant gold mineralisation including the discovery hole WB21-02 that cut 5.55 g/t Au over 50.15 meters from surface, including 9.88 g/t Au over 8.60 meters and 46.94 g/t Au over 3.85 meters. The assays are pending for the remaining 12 drill holes.

Marcel Robillard, President and CEO, stated: "Once again our Williams Brook Gold Project rewards us with tremendous gold results from our grab sampling program. We proved that the assays from surface grab samples can be duplicated by the drilling results. The first six (6) holes released (see news 15/09/2021) are representative of the mineralisation outlined at surface and we are extremely confident that the next drill campaign will be a success”.

Puma's technical team continues to better define and extend the gold zones on surface by prospecting, trenching, stripping, and intense sampling in preparation for the next drilling campaign scheduled for later in 2021. Also, a ground IP geophysical test survey is in progress over the OGT to see if the high-grade gold zones have a specific geophysical signature. Current work programs are highlighted in Figure 2.


The O’Neil Gold Trend (OGT) is a pervasive altered and brecciated rhyolite unit hosting significant gold showings and occurrences followed by trenching and drilling 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 where previous operator drilled in 2008, 54.2 g/t Au over 2.8 meters and 1 g/t Au over 23 meters.

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.

Discovery hole WB21-02 intersected 5.55 g/t Au over 50.15 meters from surface. The mineralised 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 mineralised rhyolite.

High-Grade Selected Grab Samples Assays on the Prolific O’Neil Gold Trend (OGT)*:
O’Neil Gold Zone: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
Pepitos Gold Zone: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
Lynx Gold Zone: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
Chubby Zone Area:3.5 g/t Au, 1.2 g/t Au, 1.2 g/t Au, 0.45 g/t Au
Moose Gold Zone: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


Dominique Gagné, PGeo, independent 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.


Rock samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick where each sample is dried, crushed, and pulped. The samples were crushed to 70% less than 2mm, riffle split off 1kg, pulverise split to better than 85% passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Other screen sizes available. Duplicate 50g assay on screen undersize. Assay of entire oversize fraction.


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.

You can visit us on Facebook / Twitter / LinkedIn

Learn more by consulting www.explorationpuma.com for further information on Puma.

Marcel Robillard, President, (418) 750-8510; president@explorationpuma.com

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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Figure 1. New Selected Grab Samples Collected Along the OGT Between the Lynx and Chubby

New Selected Grab Samples Collected Along the OGT Between the Lynx and Chubby
Figure 2. Current Work-in-Progress at O’Neil Gold Trend

Current Work-in-Progress at O’Neil Gold Trend
Source: Puma Exploration Inc.

2021 GlobeNewswire, Inc., source Press Releases

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Sales 2021 - - -
Net income 2021 -1,19 M -0,92 M -0,92 M
Net cash 2021 1,87 M 1,46 M 1,46 M
P/E ratio 2021 -8,46x
Yield 2021 -
Capitalization 31,9 M 24,9 M 24,8 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 95,9%
Duration : Period :
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Marcel Robillard President, Chief Executive Officer & Director
Ginette Gosselin Brisson Chief Financial Officer
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Richard Andre Thibault Independent Director
Michel Fontaine Director
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