RIMOUSKI, QUEBEC–(Marketwired – May 25, 2016) – Puma Exploration (TSX VENTURE:PUM)(SSE:PUMA) is pleased to announce the beginning of the drilling program (2,000 meters) design to test the first priority targets defined from the recent ground geophysical survey (IP) carried out on the Turgeon Cu-Zn VMS project in northern New Brunswick.
The survey revealed five (5) first priority untested target anomalies along the favourable horizon and also on new zones never tested. One of those represents a potential major VMS anomaly of a size of 350 meters by 350 meters, open at depth and along strike, located on the extension of the main Dragon hydrothermal alteration zone.
The Dragon Zone was discovered in late-2013, approximately 200 meters south of the main Powerline and Zinc Zones. Drillhole FT13-13 intersected 4 meters of massive sulphides grading 1.01% Cu and 0.78% Zn (press release 2942014). The autumn 2014 drill program included a massive sulphide intercept grading 5.66% Zn, 0.38% Cu and 2.3 g/t Ag over 6.8 metres starting downhole at 219.1 meters and including 10.05% Zn and 0.23% Cu over 2.7 metres in Drillhole FT14-05 (press release 25/02/2015). The surface expression of the Dragon zone is 300 meters long by 75 meters wide within the favorable corridor that extends for at least 2km along strike in each direction from the Dragon zone.
“We are very excited to launch our drilling program at Turgeon. With the targets defined by the OreVision IP survey which identified major untested targets in the favorable horizon, added to the other anomalies defined by the Magnetic, EM and Geochemistry surveys pointing out in the same area.” Notes Marcel Robillard, President of Puma Exploration.
2016 Summer Exploration Program and Corporate Strategy
Puma will maintain his focus in the prolific Bathurst Mining Camp of New Brunswick, Canada. The Bathurst Mining Camp, famous for its Giant Brunswick 12# Mine, host significant resources that are near surface and within close proximity to all infrastructure’s needed for mines development within established Canadian mining jurisdictions. With the recent acquisition of the Red Brook, high grade zinc property, Puma is strengthening his high quality base metal projects in his portfolio. Both, Turgeon (Zn-Cu) and Red Brook (Zn) properties will get the most field exploration effort during the summer program. In this manner, Puma drops the option agreement on the Pabineau and Benjamin Projects to concentrate effort core business properties.
Red Brook (Zn Skarn)
Red Brook was acquired from a local prospector’s following his recent discovery of high grade Zinc Massive Sulphide outcrop grading up to 13% Zn, 0.23% Cu and 2.5g/t Ag. The initial excavated, 40 meters by 15 meters area, also contains a Gold and Copper zone grading up-to 1.3 g/t Au and 0.53% Cu (see News 19/01/2016). The mineralization is open in all directions. Currently, the planned work will consist of compiling previous work to define additional trenching and diamond drilling targets. The compilation is done and the field work will start after the drilling program at Turgeon.
Ann’s Creek (Ag-Au-Zn-Pb lenses)
The Property consists of a 15 km long by 1.5 km wide Rocky Brook mineralized corridor adjacent and spatially related with the large 4 km diameter Nicholas-Denys porphyry intrusion. The Rocky Brook Corridor is a major mineralized structure which contains the main silver-gold-lead-zinc lenses centered on the Rocky-Brook-Millstream fault which is interpreted to have played a major role in the enrichment of the mineralized lenses. These mineralized lenses, namely Haché, Shaft, Henry, Henry East, Half Mile and Pine Tree are spread over a distance of 6 kilometers and have received very little advanced exploration work exception of the Haché Lens. 3D modelling focusing on the high grade portions of the Haché lens containing at least 300 g/t Ag (10 oz/t) is done and Puma is currently evaluating different scenario’s to develop and benefit from this outcropping high grade Ag-Au-Zn-Pb Haché lens.
Beresford Copper (Cu-Mo Porphyry)
The Beresford Copper Project consists of three genetically and spatially related plays: the large 4 km diameter Nicholas-Denys porphyry intrusion, the adjacent 10 km long Main Fault zone including the skarn horizon and, about 1 km to the southeast, the parallel 10 km long Rocky Brook mineralized Ag-Pb-Zn fault corridor. In 2014, continuous molybdenum, copper and silver mineralization and alteration were intersected over 486.4 meters representing the first discovery of a significant Mo-Cu Porphyry system in New Brunswick. Also, pervasive breccia and stockwork mineralization typically associated with large porphyry systems were drilled.
Ten (10) first priority IP targets remain to be drilled. Holes FND14-01 and FND14-02 are located on the northwestern boundary of the 4km diameter ND granodiorite intrusion at the terminus of a NW-SE trending 1km wide by 5 km long fairway defined by drillholes, mineralized trenches and prominent Induced Polarization (“IP”) and magnetic anomalies. The mineralized Beresford copper-iron skarn zone occurs at the opposite, southeastern terminus of the fairway. Puma is currently looking strategic partnership to explore and develop the Nicholas-Denys Porphyry system.
About Puma Exploration
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company’s major assets are the Nicholas-Denys Project and the Turgeon Copper Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba. Puma is focusing now its exploration efforts in New Brunswick, Canada.
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The contents of this press release were prepared by Dominique Gagné. a Qualified Person as defined in NI 43-101. The samples were analyzed at the ALS Chemex laboratory in Val d’Or using the atomic absorption and ICP methods. There is not enough drilling data presently available to determine the shape and true width of the mineralized zone. 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.
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 Exploration Inc. 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 Exploration 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.
Maps are available at the following link: http://media3.marketwire.com/docs/2016-05-24TurgeonNEWS2016.pdf
