Figure 1 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/89e0f6cb-54be-4b9f-a57c-4d61a182000c
From the last 566 samples collected at the OGT last fall and reported today, 66 (11.6%) show gold grades above 1.00 g/t Au. Of these, 21 returned gold grades above 10.00 g/t Au (see Table 1). The average grade of this last batch (all 566) of results, ranging from below detection limit up to 121.50 g/t Au, is 2.01 g/t Au.
Based on the Company's previous success drilling high-grade gold areas identified at surface (grab samples* of 241.00 g/t Au, 199.00 g/t Au, 57.40 g/t Au returned 5.55 g/t Au over 50.15 m at depth, see
Table 1: Selected grab sample gold results above 10 g/t Au
Sample ID | Au-GRA22 | Sample ID | Au-GRA22 | Sample ID | Au-GRA22 | Sample ID | Au-GRA22 |
Au g/t | Au g/t | Au g/t | Au g/t | ||||
D248399 | 12.35 | D248468 | 18.15 | D248210 | 24.50 | D279887 | 106.50 |
D249004 | 15.40 | D248469 | 35.20 | D248215 | 13.70 | D279897 | 57.30 |
D249049 | 25.60 | D248483 | 20.10 | D248217 | 38.00 | D279898 | 102.50 |
D248458 | 51.80 | D248490 | 13.35 | D248243 | 19.00 | D279899 | 121.50 |
D248460 | 52.20 | D248491 | 58.30 | D248404 | 21.40 | D279900 | 101.50 |
D248467 | 77.70 |
*The reader is cautioned that grab samples are selective by nature and may not represent the true metal content of the mineralized zone.
UPDATE ON CURRENT DRILLING PROGRAM
The objective of the 2022 drilling program is to test the OGT along its 750 metres strike length and confirm the depth extension of the high-grade gold-bearing quartz veins found on surface (see Figure 2). To date, nineteen (19) holes have been drilled for a total of 2,390 metres.
The holes, so far, were collared northeast of the Lynx Gold discovery, where a wide gold mineralized zone was identified by drilling last summer, including the intersection of 5.55 g/t Au over 50.15 m in hole
The systematic drilling will continue toward the O’Neil Gold Zone, located 250 meters southwest of the Lynx Gold zone, targeting the contact between the sediments and the rhyolite.
Figure 2 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ba9da217-2062-4614-86aa-9bc0dc5b17f8
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ON-SITE QUALITY ASSURANCE/QUALITY CONTROL ("QA/QC") MEASURES
Grab samples were bagged, sealed and sent to the facility of
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Puma has developed and implemented precautions and procedures compliant with
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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: Location of selected grab samples collected at the OGT
Location of selected grab samples collected at the OGT
Figure 2: Current progress of the ongoing 10,000 m drilling program at OGT
Current progress of the ongoing 10,000 m drilling program at OGT
2022 GlobeNewswire, Inc., source