Table 1. Selected High-
Location | Sample | Utm X | Utm Y | Lithology | Type | Au (g/t) | Ag (g/t) |
Lynx-Chubby | C099429 | 660268 | 5259314 | Quartz Vein | o/c | 199.00 | 18.60 |
Lynx-Chubby | C099436 | 660263 | 5259312 | Quartz Vein | o/c | 192.00 | 36.20 |
Lynx-Chubby | D279831 | 660259 | 5259307 | Quartz Vein | o/c | 170.50 | 38.20 |
Lynx-Chubby | C733348 | 660281 | 5259306 | Quartz Vein | o/c | 52.10 | 1.88 |
Lynx-Chubby | D279829 | 660257 | 5259296 | Quartz Vein | o/c | 51.40 | 22.90 |
Lynx-Chubby | C733344 | 660279 | 5259305 | Quartz Vein | o/c | 50.40 | 2.75 |
Lynx-Chubby | D279787 | 660286 | 5259367 | Quartz Vein | o/c | 46.80 | 1.40 |
Lynx-Chubby | C099424 | 660275 | 5259314 | Quartz Vein | o/c | 46.00 | 6.29 |
Lynx-Chubby | C099448 | 660281 | 5259314 | Quartz Vein | o/c | 31.60 | 1.71 |
Lynx-Chubby | D279673 | 660304 | 5259362 | Quartz Vein | o/c | 31.00 | 2.74 |
Lynx-Chubby | C099433 | 660265 | 5259313 | Quartz Vein | o/c | 28.60 | 3.42 |
Lynx-Chubby | C099431 | 660267 | 5259313 | Quartz Vein | o/c | 26.30 | 3.43 |
Lynx-Chubby | D279681 | 660304 | 5259360 | Quartz Vein | o/c | 21.30 | 3.35 |
Lynx-Chubby | C099437 | 660261 | 5259311 | Quartz Vein | o/c | 19.50 | 2.13 |
Lynx-Chubby | D279638 | 660290 | 5259347 | Rhyolite | o/c | 18.95 | 1.35 |
Lynx-Chubby | C099423 | 660276 | 5259314 | Quartz Vein | o/c | 12.65 | 5.76 |
Lynx-Chubby | D279818 | 660265 | 5259276 | Rhyolite | o/c | 9.54 | 0.75 |
Lynx-Chubby | D279752 | 660275 | 5259365 | Quartz vein | o/c | 9.19 | 0.81 |
Lynx-Chubby | C099445 | 660279 | 5259314 | Quartz Vein | o/c | 9.02 | 2.40 |
Lynx-Chubby | D279763 | 660278 | 5259364 | Quartz vein | o/c | 8.81 | 0.99 |
Lynx-Chubby | C099497 | 660263 | 5259341 | Quartz Vein | o/c | 7.46 | 0.27 |
Lynx-Chubby | D279513 | 660289 | 5259307 | Quartz Vein | o/c | 6.73 | 2.19 |
Lynx-Chubby | D279555 | 660267 | 5259359 | Quartz vein | o/c | 6.29 | 0.45 |
Lynx-Chubby | C099464 | 660258 | 5259325 | Quartz Vein | o/c | 5.83 | 0.10 |
Lynx-Chubby | C099430 | 660268 | 5259313 | Quartz Vein | o/c | 5.69 | 2.59 |
Lynx-Chubby | D279830 | 660259 | 5259297 | Quartz Vein | o/c | 5.35 | 8.27 |
* 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
INAUGURAL DRILLING PROGRAM AT WILLIAMS BROOK GOLD PROJECT
The core-oriented maiden drill campaign was completed on
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.
O’NEIL GOLD TREND (OGT)
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 |
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
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.
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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
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