Puma Exploration to Acquire 100 of Murray Brook Deposit and Significant Land Package
Puma Exploration to Acquire 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of Murray Brook Deposit and Significant Land Package in the Brunswick Belt in New Brunswick
– Momentum Public Relations –
Press Release: October 13, 2016
Puma Exploration (TSX VENTURE:PUM)(SSE:PUMA) is pleased to announce that it has executed an asset purchase agreement with Votorantim Metals Canada Inc. and signed a letter of intent with El Nino Ventures (ELN-V) to acquire, respectively, approximatively 67.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} and 32.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} beneficial interest in the Murray Brook Zn-Pb-Cu-Ag Volcanogenic Massive Sulphide (“VMS”) deposit located in the famous Bathurst Mining Camp (“BMC”) of northern New Brunswick. The Murray Brook property consists of Mining Lease 252 and contiguous Mineral Claim Block 4925 (245 claims) located 4 km west of the producing Caribou Mine, which is owned and operated by Trevali Mining Corporation. Both of the aforementioned transactions are expected to close on or about November 15th, 2016.
HIGHLIGHTS:
• The Murray Brook deposit contains historical resources of 1 billion pounds (lbs) of zinc, 183 million lbs of copper, 390 million lbs of lead, 23.9 million ounces (“oz”) silver and 338,000 oz. of gold within historical Measured and indicated Resources of 17,884,000 tons @ 2.73{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 0.47{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.99{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Pb, 41.7 grams per ton (“g/t Ag”) and 0.59 g/T Au. The historical resource estimates were prepared for Votorantim Metals Canada Inc in accordance with NI43-101. in 2012 from 132 holes and use terminology compliant with current reporting standards. Puma has not made any attempt to re-classify the estimates according to current standards of disclosure and is not treating the estimate as current mineral resources or mineral reserves. Investors are cautioned that “historical resources” are considered conceptual in nature and there is no guarantee that historic “potential resources” will be able to be converted into current NI43-101 resource categories or demonstrate economic viability. A qualified person has no done sufficient work to classify the historical estimate as current mineral resources.
• Preliminary metallurgical tests indicated recoveries of up to 88{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc.
• Gravity and soil geochemical targets exist along strike from the Murray Brook deposit and there are high priority drill-ready targets in favorable stratigraphy and along strike from the nearby Caribou Mine within Mineral Claim Block 4925.
Marcel Robillard, president of Puma, said “I am very pleased that we have been able to reach agreement with Votorantim Metals Canada Inc. and El Nino Ventures Inc. to acquire 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the Murray Brook deposit and look forward to completing the definite transactions by November 15th, 2016. The next step will be to update the historical Resources Estimate done in 2012 and the PEA released in 2013 to show the actual metal prices. This acquisition is another step to become a leader in Zinc Exploration in New Brunswick and it is a substantial addition to our portfolio of base metals projects in New Brunswick, which include the Turgeon, Nicholas-Denys and the newly acquired Red Brook projects.”
The Murray Brook VMS deposit is hosted within a sheath fold; enveloped by a halo of chlorite-sericite alteration. There are 2 distinct lenses to the deposit; a western lens, which is deeper and zinc-rich, and an eastern lens that is shallower and copper-rich with some zinc. The bottom of the deposit is approximately 350 meters below surface.
Table 2. Selected drill-hole intersections at Murray Brook Deposit
Hole ID | From (m) |
To (m) |
Interval (m) |
Cu {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Pb {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Zn {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Au (g/t) |
Ag (g/t) |
MB-2012-138 | 182.00 | 226.00 | 44.00 | 0.19 | 4.90 | 9.16 | 0.68 | 164 |
MB-2011-52 | 181.00 | 224.00 | 43.00 | 0.29 | 3.64 | 8.51 | 0.99 | 118 |
MB-2012-132 | 165.00 | 200.00 | 35.00 | 0.14 | 3.48 | 10.35 | 1.36 | 121 |
MB-2012-110 | 108.00 | 154.00 | 46.00 | 0.08 | 1.46 | 6.96 | 0.23 | 57 |
MB-2011-49 | 118.00 | 157.00 | 39.00 | 0.32 | 3.22 | 7.67 | 1.39 | 120 |
MB-2012-107 | 60.00 | 93.00 | 33.00 | 0.10 | 2.63 | 8.66 | 0.33 | 109 |
MB-2012-70 | 211.00 | 234.00 | 23.00 | 0.41 | 4.74 | 11.94 | 1.56 | 153 |
MB-2012-90 | 165.00 | 189.00 | 24.00 | 0.13 | 4.22 | 11.10 | 0.74 | 160 |
MB-10-16 | 44.00 | 71.00 | 27.00 | 0.47 | 3.39 | 9.56 | 0.12 | 122 |
MB-2011-39 | 190.00 | 210.00 | 20.00 | 0.18 | 3.82 | 10.90 | 1.34 | 115 |
MB-2011-30 | 55.00 | 78.00 | 23.00 | 0.14 | 3.03 | 8.93 | 0.46 | 131 |
The Murray Brook VMS deposit is hosted within sedimentary rocks of the Mount Brittain formation. Recent geological mapping has identified exposures of the same rocks to the east of the deposit (on Mineral Claim Block 4925), that have not been recognized in the past. Notably, several gravity anomalies defined by a recent ground survey as well as a number of lead-zinc in-soil anomalies are coincident with the mapped exposures of the Mount Brittain formation and provide excellent targets for diamond drilling in efforts to find additional mineralization. Of note, the Murray Brook VMS deposit shows up prominently as a strong gravity anomaly coincident with strong lead and zinc in-soil values. Additionally, large-loop electromagnetic surveys (Pulse EM) are warranted in the immediate locale of the deposit itself and along strike from it, to assist in finding satellite deposits to the known mineralization.
Terms of the transactions:
Puma will acquire Votorantim Metals Canada Inc.’s 67.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} beneficial interest and El Nino Ventures Inc.’s 32.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} beneficial interests in the Murray Brook property by concluding two (2) distinct transactions.
To acquire Votorantim Metals Canada interest (67.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce})
a. C$1.0 million upon closing (no later than November 15th, 2016)
b. C$2.0 million payable 12 months from closing
c. C$3.0 million upon the earliest of commercial production or September 30th, 2019,
plus a laddered NSR starting at 0.25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} at a zinc price of US$1.04/lb and increasing, in increments of 0.25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, to a maximum of 1.75{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} above US$1.50/lb Zn in relation to 67.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the production from the Murray Brook Property, which includes the Mining Lease and the Camel Back claims, for actual Murray Brook deposit and any new discovery for their respective life of mine.
Additionally, Puma will assume and fund Votorantim Metals Canada Inc.’s liability for the C$2 million Environmental Bond Letter of Credit with the New Brunswick government and assume the C$3 million + 0.25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} NSR or the 1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} NSR, December 2017 option payment obligation to Murray Brook Minerals.
To acquire El Nino Ventures’s interest (32.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce})
a. C$50,000 non-refundable deposit to be paid 10 days following the waiver of the ROFR from El Nino. This deposit becomes binding on receipt of the waiver of the ROFR from El Nino.
b. C$0.6 million upon closing of this transaction (no later than Nov.15th, 2016)
c. C$0.4 million payable six (6) months after the closing (no later than May.15th, 2017)
d. C$1.0 million payable twelve (12) months from closing (no later than Nov.15th, 2017)
e. C$1.0 million payable twelve (24) months from closing (no later than Nov.15th, 2018)
f. 2,000,000 warrants given the right to buy 2,000,000 Puma’s ordinary shares expiring 3 year after the closing of the transaction based on the following exercise prices:
1) 0 to Year 1 (Nov 15, 2017): Equal to the price of the acquisition equity financing;
2) Year 1 to Year 2 (Nov 15, 2018): a 20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} premium to the price indicated in 1) above;
3) Year 2 to Year 3: a 20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} premium to the price indicated in 2) above,
plus a laddered NSR starting at 0.25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} at a zinc price of US$1.04/lb and increasing, in increments of 0.25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, to a maximum of 1.75{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} above US$1.50/lb Zn in relation to 32{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the production from the Murray Brook Property, which includes the Mining Lease and the Camel Back claims, for actual Murray Brook deposit and any new discovery for their respectively LOM.
Votorantim Metals Canada Inc. will retain title to the project as security until the assumption of the environmental liability has been completed and Votorantim Metals Canada Inc.’s liability is released by the Government of New Brunswick.
About BMC
The BMC is a well-established mining district hosting numerous mines with infrastructures mines and deposits including the Brunswick No. 12 deposit, having produced zinc, lead, silver and gold for well over 60 years. In addition to Brunswick No. 12, there are more than 30 other massive sulphide deposits and numerous prospects in the BMC, attesting to its vast world-class endowment and mineral potential.
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 Turgeon Zinc-Copper Project and the Nicholas-Denys Project in New Brunswick and their equity interest in BWR as related to the Little Stull Lake Gold Project in Manitoba. Puma is focusing its exploration efforts in New Brunswick. Canada.
To view the maps associated with this press release, please visit the following links:
Puma Exploration Acquisition: http://media3.marketwire.com/docs/490_Acquisition.pdf
Geophysical Targets on Murray Brook Claims: http://media3.marketwire.com/docs/490_GphTargets.pdf
You can visit us on Facebook and Twitter.
Learn more by clicking here: www.pumaexploration.com
- Published in Mining, News Home, Puma Exploration
Puma Exploration Inc. (PUM:tsxv) Finalizes Negotiations on a Definitive Sale Agreement with BWR Exploration on Little Stull Lake Gold Project, Manitoba
Puma Exploration Inc. (PUM:tsxv) Finalizes Negotiations on a Definitive Sale Agreement with BWR Exploration on Little Stull Lake Gold Project, Manitoba
– Momentum Public Relations –
Press Release: October 7th, 2016
Puma Exploration (TSX VENTURE:PUM)(SSE:PUMA) has executed a definitive sale agreement, whereby BWR can acquire 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest in the Little Stull Lake Gold project in Northern Manitoba from Puma Exploration Inc. (“Puma”). The closing is subject to the approval of the TSX Venture exchange.
Definitive Agreement
The main elements of the definitive agreement include:
- Cash payments of $150,000 to Puma; the first $50,000 was paid upon signing the LOI on July 11, 2016, there are two additional milestone payments of $50,000 each, payable within 30 days of Edmund Lake and Kistigan Mineral Exploration Licenses being granted and transferred to BWR by Manitoba Department of Natural Resources.
- Puma will receive up to 10 million BWR common shares, of which 4,750,000 are subject to escrow provisions. 4,750,000 of the first 5,000,000 securities will be delivered to Puma upon execution and approval of the definitive agreement to be released in increments over a 36-month period, 250,000 shares will similarly be delivered as directed by Puma to a finder. The additional 5,000,000 additional securities are to be delivered to Puma as directed by Puma, upon certain exploration and development milestones being met by BWR over the next several years as follows:
- 1 million shares to be issued once 500,000 ounces of gold have been identified in the measured and indicated category;
- 1 million additional shares to be issued once 1,000,000 ounces of gold have been identified in the measured and indicated category;
- 1 million additional shares to be issued once a positive preliminary economic analysis has been prepared;
- 2 million additional shares to be issued upon delivery of positive feasibility study.
Notwithstanding the above, with respect to the additional 5,000,000 securities, BWR must expend $1.5 million in exploration within the first 36 months of the effective date. Failure on the part of BWR to do so will result in the additional 5,000,000 securities being issued to Puma in accordance with provisions of the escrow agreement.
- Puma has nominated Marcel Robillard to be their representative on the BWR Board of Directors as part of the agreement. BWR has agreed to add Mr. Robillard to its’ Board of Directors upon closing of the agreement.
- Puma will have the right to maintain its’ pro rata equity interest in BWR by investing in future financings of BWR for as long as it maintains greater than 10{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} equity. The pro rata equity interest calculation is as if Puma has received all 9.75 million shares.
- If commercial production is attained at the Little Stull Lake Project, Puma retains a non-buyable 1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} NSR.
- BWR has assumed Puma’s right of first refusal regarding an underlying 1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} net smelter royalty that is payable to Tanqueray Resources Inc. (“Tanqueray”). This underlying royalty is buyable in its entirety at anytime for $3 million by BWR, Tanqueray has consented to this assignment.
The Little Stull Lake Gold Project
The Little Stull Lake Gold project consists of 20 staked mining claims covering approximately 2,387 hectares that cover the main exploration sites for the project. The staked claims were originally staked in 1984 and have applied assessment credits making them valid until 2025. The 20 claims are surrounded by the Kistigan Mineral Exploration License (M.E.L. 1026A) application covering an area of approximately 15,640 hectares. The western extension of the project is covered by the Edmund Mineral Exploration License (M.E.L. 426A) application covering an area of approximately 20,308 hectares. The Little Stull Lake Project covers exploration rights over a total of 38,335 hectares (approximately 384 square kilometers), including the 20 claims and the two Mineral Exploration Licenses.
Historical results on Project
Historical drilling has been carried out in three drill campaigns, initially by Westmin Resources Inc. in the period 1984 to 1990 when 202 drill-holes were completed totalling 34,498 meters, followed by Wolfden Resources Inc. drilling 7 holes in 2000 totalling 1,423 meters, followed by Puma Exploration drilling 10 holes in 2007 totalling 1,500 meters. These 219 drill holes represent an aggregate of 37,421 metres, the analysis of which resulted in the delineation of five separate zones of gold mineralization along a 6.2 kilometre geological structure. Most of the drilling focussed on the West Zone reported by Westmin in 1991, to contain a potential resource estimate of 750,000 tons averaging 10.5 g/t Au as recorded in Open file 90-2 by Manitoba Department of Energy and Mines (p 58), also reported in Canadian Intergovernmental Working Group on Mineral Industry, in 2008. The Westmin resource estimate is considered historical in nature and was done prior to the implementation of NI 43-101 reporting requirements and adoption of CIM Guidelines for Estimation of Mineral Resources and Reserves, however the reported resource estimate is considered relevant as it has been used as reference to the gold potential of the region in various technical reports about the area by government agencies. A Qualified Person has not done sufficient work to classify this historical estimate and the Company is not treating this historical estimate as a current mineral resource estimate.
Recent activity in Project area
Most notably, in June, 2015 Yamana Gold (TSX:YRI) acquired Mega Precious Metals (TSX VENTURE:MGP), in a share transaction valued at an estimated $17.5 million. As a result of this corporate takeover, Yamana now holds title to the Monument Bay Gold Deposit, that is located approximately 20 km southwest of BWR’s Little Stull Lake Gold Project. The Little Stull Lake mineralized gold zones lie in a similar geological environment to those on the Monument Bay property. Recent news by Yamana includes an update press release on September 6, 2016 where they report an Indicated Mineral Resource of 1.787 million ounces of gold contained in 36.58 million tonnes at a grade of 1.52 g/t Au and an Inferred Mineral Resource of 1.781 million ounces of gold contained in 41.97 million tonnes at an average grade of 1.32 g/t Au. The mineralization hosted on the Monument Bay property is not necessarily indicative of the mineralization, if any, hosted on the Company’s property.
“BWR is excited about this new exploration and development opportunity acquired from Puma Exploration. Our Board of Directors is looking forward to working with Marcel Robillard of Puma over the next several years as the Little Stull Lake Gold Project matures from an attractive exploration project into what BWR hopes to be a development project. Puma will continue focussing their exploration efforts on their base metal assets in New Brunswick while BWR focuses on this exciting gold project.” notes Neil Novak, President and CEO of BWR Exploration Inc.
BWR is a public company (TSX VENTURE:BWR) focused on exploring early stage projects for base and precious metals, with three exploration projects in Northern Ontario, and more recently one in Northern Quebec, Canada. Management of BWR includes an accomplished group of exploration/mining specialists with many decades of operational experience in the junior resource sector. There are currently 39,191,961 shares issued in BWR prior to this transaction.
The contents of this press release were prepared by Dominique Gagné, PGeo, 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.
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 BWR 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. BWR Exploration Inc. undertakes no responsibility to publicly update or revise any forward-looking statements. These risks and uncertainties include: the uncertainty of completing the acquisition of the project from Puma at all as the final acquisition is subject to regulatory approval, or on the terms described in this press release, or that actual results obtained by BWR in the future may differ materially from the historical results described in this press release, which historical results have not been verified by BWR. In addition, readers of this press release should review the risks and uncertainties that are described in the quarterly and annual reports and in the documents submitted to the securities administration. Neither the Toronto 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.
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 Turgeon Zinc-Copper Project and the Nicholas-Denys Project in New Brunswick and their equity interest in BWR as related to the Little Stull Lake Gold Project in Manitoba. Puma is focusing its exploration efforts in New Brunswick. Canada.
You can visit us on Facebook and Twitter.
Learn more by clicking here: www.pumaexploration.com
- Published in Mining, News Home, Puma Exploration
Puma Exploration Samples 6.04 Zn Over 3.0 Meters at Red Brook Cu-Au-Zn Skarn
Puma Exploration Samples 6.04{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn Over 3.0 Meters at Red Brook Cu-Au-Zn Skarn in New Brunswick
– Momentum Public Relations –
Press Release: October 3rd, 2016
Puma Exploration (TSX VENTURE:PUM)(SSE:PUMA) has completed its preliminary channeling program on the Red Brook Skarn property located in New Brunswick. The high grade zinc skarn discovered during the stripping has been confirmed with 2 channels sampled in Zone A with respectively 6.04{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn over 3.0 meters and 5.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn over 1.5 meters. All the samples collected show significant copper background content with an average copper grade of 0.20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu for the entire 119 channel samples. A gold and copper association has been observed in channels particularly in zone A with 0.10 g/t Au and 0.23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu over 15.8 meters.
Following the grab results of the first phase of exploration, grading up to 15,05{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 0,55{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu and 2,62 g/t Au (Press release 2016/09/20), Puma’s technical team has been performing channel sampling on the four (4) mineralized excavated zones of the Red Brook property. Seven (7) channels have been collected on both Zones (A and B) for a total of 64.3 meters of channel distributed in 119 individual samples.
The channels were selected to confirm the high grade grab samples results and to study the metal zonation of the Zinc and Gold within the Copper mineralization.
Table 1: Channel samples results on the Zones A and B
Channel | Zone | From | To | Length | Au | Ag | Cu | Zn |
# | (m) | (m) | (m) | g/t | g/t | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | |
RRB16-01 | A | 2.0 | 8.0 | 6.0 | 0.17 | 1.85 | 0.25 | 0.02 |
RRB16-02 | A | 1.5 | 17.3 | 15.8 | 0.10 | 1.34 | 0.23 | 0.55 |
inclus | 5.5 | 8.5 | 3.0 | 0.01 | 1.43 | 0.12 | 2.91 | |
inclus | 6.0 | 7.5 | 1.5 | 0.00 | 1.56 | 0.11 | 5.20 | |
inclus | 8.5 | 17.3 | 8.8 | 0.14 | 1.37 | 0.28 | 0.01 | |
RRB16-03 | A | 0.0 | 11.0 | 11.0 | 0.07 | 1.93 | 0.23 | 1.68 |
inclus | 0.0 | 1.5 | 1.5 | 0.29 | 2.56 | 0.26 | 0.01 | |
inclus | 6.5 | 10.5 | 4.0 | 0.01 | 1.91 | 0.19 | 4.59 | |
inclus | 6.5 | 9.5 | 3.0 | 0.00 | 1.90 | 0.20 | 6.04 | |
RRB16-04 | B | 0.5 | 3.0 | 2.5 | 0.10 | 3.06 | 0.27 | 0.00 |
RRB16-05 | B | 0.0 | 6.0 | 6.0 | 0.04 | 1.07 | 0.11 | 0.00 |
RRB16-06 | B | 0.0 | 6.5 | 6.5 | 0.05 | 0.96 | 0.23 | 0.00 |
RRB16-07 | B | 0.0 | 6.6 | 6.6 | 0.00 | 0.84 | 0.16 | 0.01 |
In the light of the first channel results obtained, Zone A shows a higher grade Zn-Au-Cu. Zone B, located 300 meters south of the Zone A, shows the same background of copper in the skarn but with limited gold and zinc enrichment.
More stripping operations will be conducted on Zone B to verify any gold and zinc rich areas of the mineralization which is open in all directions. Currently, more channels sampling is ongoing on the Zone A to extend the known massive sulphide high grade gold and zinc areas.
Puma’s geologists have finalized the compilation of previous work done on the Red Brook property and the surrounding Popelogan area. It appears that the Popelogan Deposit is located on the southern edge of Zone B within Puma’s claims. The newly discovered Zone B could be the extension of the Popelogan Deposit reported to have an historical resources of 3.1 M tons at 0.3 {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu. The historical resources as been defined by Noranda in 1960 by 20 drillholes and were prepared prior to the implementation of NI43-101 and use terminology not compliant with current reporting standards. Puma has not made any attempt to re-classify the estimates according to current standards of disclosure and is not treating the estimate as current mineral resources or mineral reserves. Historical estimates should not be relied upon.
The property covers an area underlain by Ordovician volcanic and Silurian sediments intruded by Devonian intrusions, similar in age and composition of the Gaspe intrusive.
About Red Brook Property
The Red Brook project comprises 23 claims totaling 500 hectares located 50 km west of Nicholas-Denys Project. The property has been acquired from a local prospector in 2016 following the discovery of a high grade Zinc zone contained in massive sulfides. This mineralized zone is located at the contact of an intrusive body in a folded limestone horizon which is part of the Popelogan terrane. The Popelogan deposit is located within the Reb Brook Property.
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 Turgeon Zinc-Copper Project and the Nicholas-Denys Project in New Brunswick and their equity interest in BWR as related to the Little Stull Lake Gold Project in Manitoba. Puma is focusing its exploration efforts in New Brunswick. Canada.
- Published in Mining, News Home, Puma Exploration
Puma Samples (PUM:tsxv) 15.1 Cu on the Red Brook Skarn in New Brunswick
Puma Samples 15.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 2.6 g/t Au and 0.55{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu on the Red Brook Skarn in New Brunswick
– Momentum Public Relations –
Press Release: Sept. 22, 2016
Puma Exploration (TSX VENTURE:PUM)(SSE:PUMA) has completed the first phase of exploration on its new Red Brook property in New Brunswick. The program, consisting of prospecting, trenching, stripping and channel sampling, significantly expanded the size of the original discovery and revealed three (3) new massive sulphide-rich skarn zones along strike with grab samples grading up-to 15.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 2.6 g/t Au and 0.55{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu.
Puma’s geologists have now prospected the entire claim bloc and have increased the size of the initial discovery zone from the original 5 by 15 meters to 50 by 50 fully striped meters. Rocks exposed in this zone (Zone A) consist of skarn, limestone and hornfels in contact with a Devonian porphyric granodiorite. A total of 50 grab samples were collected from the excavated area and show distinct metal zonation, including high grade zinc and gold within a significant copper background. The sulphide zone is composed by sphalerite, chalcopyrite, pyrite and pyrrhotite with the highest zinc values grading 15.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 12.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 8.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn and 8.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn and the highest gold values grading 2.6 g/t Au, 1.6 g/t Au and 0.95 g/t Au. The average copper content for the 50 samples in Zone A is 0.27{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu.
Table 1: Selected Grab samples collected from Zone A of the Red Brook Property
Metals | Sample | X | Y | Au | Ag | Cu | Zn | |||
# | Nad83 z19 | Nad83 z19 | g/t | g/t | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | ||||
ZINC | R668158 | 678262 | 5293842 | <0.01 | 1.7 | 0.18 | 8.13 | |||
R668160 | 678259 | 5293846 | <0.01 | 1.9 | 0.17 | 7.02 | ||||
R668161 | 678257 | 5293845 | 0.01 | 2.1 | 0.18 | 6.98 | ||||
R668162 | 678255 | 5293845 | 0.02 | 4.0 | 0.17 | 7.70 | ||||
R668163 | 678262 | 5293841 | <0.01 | 2.0 | 0.20 | 8.20 | ||||
R669916 | 678275 | 5293843 | 0.03 | 2.7 | 0.25 | 8.79 | ||||
R669917 | 678274 | 5293843 | 0.04 | 3.0 | 0.19 | 12.10 | ||||
R669925 | 678276 | 5293845 | 0.04 | 2.7 | 0.21 | 15.05 | ||||
GOLD-COPPER | R668156 | 678257 | 5293842 | 0.28 | 3.3 | 0.47 | 0.02 | |||
R668165 | 678262 | 5293845 | 0.13 | 1.5 | 0.22 | 0.02 | ||||
R668166 | 678264 | 5293846 | 0.21 | 1.6 | 0.43 | 0.01 | ||||
R668169 | 678263 | 5293853 | 0.44 | 2.0 | 0.29 | 0.01 | ||||
R668170 | 678261 | 5293857 | 0.95 | 3.4 | 0.45 | 0.02 | ||||
R668172 | 678257 | 5293867 | 2.62 | 2.3 | 0.44 | 0.01 | ||||
R668173 | 678255 | 5293869 | 0.24 | 1.5 | 0.31 | 0.01 | ||||
R668174 | 678255 | 5293872 | 1.61 | 1.9 | 0.36 | 0.01 | ||||
R668175 | 678254 | 5293874 | 0.91 | 1.0 | 0.18 | 0.00 | ||||
R668181 | 678246 | 5293846 | 0.27 | 2.9 | 0.45 | 0.06 | ||||
R668183 | 678242 | 5293863 | 0.53 | 3.9 | 0.43 | 0.02 | ||||
R668185 | 678248 | 5293847 | 0.22 | 1.4 | 0.33 | 0.07 | ||||
R668187 | 678255 | 5293839 | 0.79 | 4.3 | 0.55 | 0.02 | ||||
R668190 | 678254 | 5293837 | 0.33 | 1.8 | 0.34 | 0.01 | ||||
R668191 | 678243 | 5293837 | 0.19 | 1.8 | 0.32 | 0.03 | ||||
R668193 | 678238 | 5293844 | 0.32 | 0.9 | 0.26 | 0.01 |
Following the stripping of Zone A, containing mineralization that still open in all direction, exploration trenches discovered a major massive sulfide zone located 350 meters south of Zone A along the skarn horizon. This new zone has been partially stripped with three 15 by 15 meter pits spaced over a length of 100 meters. These pits expose massive to semi-massive sulphides in skarn. The zone is open in all directions.
A total of 24 grab samples were collected from the new mineralized zone (Zone B) with results grading up to 0.48{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu and 0.33 g/t Au. The average copper content of the 24 samples collected is 0.22{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu. The geology is similar than in Zone A showing skarn and limestone in contact with a Devonian intrusive.
Table 2: Selected Grab samples collected from Zone B of the Red Brook Property
Sample | X | Y | Au | Ag | Cu | |||
# | NAD83 Z19 | NAD83 Z19 | g/t | g/t | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | |||
R668195 | 678214 | 5293546 | 0.05 | 1.5 | 0.18 | |||
R668196 | 678214 | 5293548 | 0.14 | 1.6 | 0.22 | |||
R668197 | 678217 | 5293551 | 0.19 | 1.3 | 0.14 | |||
R668198 | 678216 | 5293544 | 0.08 | 1.2 | 0.13 | |||
R668199 | 678208 | 5293543 | 0.07 | 3.3 | 0.30 | |||
R668200 | 678207 | 5293554 | 0.33 | 2.5 | 0.24 | |||
R669903 | 678296 | 5293500 | <0.01 | 1.5 | 0.28 | |||
R669905 | 678257 | 5293494 | 0.01 | 1.6 | 0.35 | |||
R669906 | 678262 | 5293491 | <0.01 | 2.0 | 0.36 | |||
R669908 | 678266 | 5293484 | <0.01 | 0.8 | 0.25 | |||
R669910 | 678229 | 5293514 | 0.03 | 2.0 | 0.48 | |||
R669911 | 678231 | 5293516 | 0.03 | 0.9 | 0.21 | |||
R669913 | 678228 | 5293524 | 0.04 | 2.2 | 0.32 | |||
R669914 | 678225 | 5293518 | 0.05 | 1.0 | 0.23 | |||
R669915 | 678223 | 5293523 | 0.17 | 1.4 | 0.27 | |||
R669924 | 678464 | 5293487 | 0.01 | 4.1 | 0.37 |
Following the stripping of these four (4) new mineralized zones, a channel sampling program was designed to verify the metal zonation and the grade of the massive sulphide area of the stripped areas. A total of 64.3 meters of channel sampling has been collected distributed in 119 individual samples. Results are pending.
About Red Brook Property
The Red Brook project comprises 23 claims totaling 500 hectares located 50 km west of Nicholas-Denys Project. The property was acquired from a local prospector in 2016 following the discovery of a high grade Zinc zone contained in massive sulfides. This mineralized zone is located at the contact of an intrusive body in a folded limestone horizon which is part of the Popelogan Terrane.
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 Turgeon Zinc-Copper Project and the Nicholas-Denys Project in New Brunswick and their equity interest in BWR as related to the Little Stull Lake Gold Project in Manitoba. Puma is focusing its exploration efforts in New Brunswick. Canada.
You can visit us on Facebook and Twitter.
Learn more by clicking here: www.pumaexploration.com
The contents of this press release were prepared by Dominique Gagné, PGeo. 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.
Zone A figure is available at the following link: http://media3.marketwire.com/docs/1070299_ZoneA.pdf
Zone B figure is available at the following link: http://media3.marketwire.com/docs/1070299_ZoneB.pdf
Zone A&B figure is available at the following link: http://media3.marketwire.com/docs/1070299_ZoneAetB.pdf
- Published in Mining, News Home, Puma Exploration
Puma Exploration Inc. (PUM:tsxv) More Massive Sulphides Drilled at Turgeon VMS Project
Puma Exploration Inc.: More Massive Sulphides Drilled at Turgeon VMS Project in New Brunswick
– Momentum Public Relations –
Press Release: September 14th, 2016
Puma Exploration (PUM:tsxv)(PUMA:SSE) has completed its summer drilling program at Turgeon VMS project in Northern New Brunswick. The program included five (5) holes for a total of 2,569 meters. Three holes were directed to verify the IP geophysical targets located 500 meters south-west of the Dragon lens in an underexplored area of the favourable horizon and the two (2) others were drilled to define the extent and the size of the dragon zone.
Dragon Zone
Hole FT16-03 extended the size of the Dragon lens with an intersection of a massive to semi-massive sulphide zone of 7 meters at 107.2 meters. This mineralized zone contains 1.4 meters with 1.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu and 0.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn and extended over 40 meters to the south, the size of the initial discovery of the Dragon zone in hole FT13-13 who intersected 1.01{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu and 0.79{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn over four (4) meters.
Hole FT16-03 intersected at 147 meters, 20.5 meters of chalcopyrite-pyrite stockwork zone within pervasive black chlorite alteration grading respectively 6.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu et 1.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu over 0.5 meters in individual samples. This copper zone is interpreted to be part a major Cu stockwork associated with the Massive sulphide lens intersected at the Dragon grading 10.05{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn over 2.7 meters, 4.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn over 4.0 meters, 4.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn et 1.04{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu over 3.2 meters and 1.01{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu over 4.0 meters in the 2015 drilling program. Also, at the end of the hole, polymetallic sulphide veins similar to the Nigadoo Veins type were encountered and showing rich Ag-Pb-Zn veins with respectively 146 g/t Ag, 2.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Pb and 1.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn over 1.2 meters and 39 g/t Ag, 0.48{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Pb and 1.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn over 1.1 meters.
Hole FT16-05 intersected 15 meters of semi-massive to massive sulphide cutted by mafic dykes from 234 to 249 meters. This mineralisation zone is located 50 meters under the Dragon 2 zone and it is mainly composed of pyrite and chalcopyrite. Another sulphide zone was located from 318 meters to 336 meters which included a zone with 1.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn over 1.7 meters. At the end of the hole FT16-05, a new 10 meters long copper stockwork zone within dark chlorite alteration has been encountered and grading 0.32{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu over 10.0 meters. Once again, this copper stockwork is interpreted to be associated with a massive sulphide body within the VMS deposits.
IP geophysical Target
The holes FT16-01 and FT16-02 were located 200 meters south-west of the new Dragon and were directed to test a deep IP target and also to locate the favourable horizon in the extent of the Dragon zone within an underexplore area of the property. These holes intersected the bottom sequence of the Turgeon VMS system which is composed of an abundance of mafic dykes and intrusions in alternance with massive basalt. These holes deviated too much and didn’t reach the deep target located from 400 to 500 meters deep.
FT16-02 and FT16-04 hit, in the first 50 meters, the upper sequence of the Turgeon VMS system which is composed of the very silicified basalt unit with its typical jasper alteration (Silicified Cap). Combined with the hole FT13-09, located 50 meters west, who intersected also the top of the key unit, suggests that the mineralized corridor is located westward with a similar displacement as seen at Powerline, Zinc Zone and Dragon along synvolcanic faults.
The next step is a borehole geophysical survey in the current holes to precisely locate the best geophysical signature and detailed mapping combined with trenching program in the underexplored area located south-west of Dragon Zone to define the fertile horizon.
“Despite the strong deviation in drilling, we have succeeded in finding more massive sulphides up-to ten (10) meters thick in the extension of the Dragon Zone and also the first evidence of a complete sequence containing the massive sulphides with its associated stockwork Cu zone. Additional work is required in the south extent of the mineralized corridor that seems to have moved westward. We are very excited in the potential of finding more VMS deposits within Turgeon project “notes Marcel Robillard, president of Puma Exploration.
Update on Red Brook Zn-Cu-Au Project
Red Brook was acquired from a local prospector following discovery of a high grade Zinc Massive Sulphide outcrop in contact with an important intrusion grading up to 13{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 0.23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu and 2.5g/t Ag (Press release 19/01/2016). Puma’s crew has prospected the entire claim area and stripped the initial discovery. From the original size of 5 meters by 15 meters, the excavated zone is now 50 meters by 50 meters and contains a large band of massive to semi-massive sulphides inside a calcareous horizon in contact with a Devonian porphyritic granodiorite. Sample results will be released shortly.
Update on the Little Stull Lake Transaction
Black Widow Resources (BWR-TSXV) has conducted his due diligence on the Little Stull Lake Gold project in Manitoba and has informed Puma that it is satisfactory to them. Final contract edition is ongoing and the signing should be done shortly.
Annual Meeting Results
Puma Exploration held its Annual General Meeting on September 8th, at his office in Rimouski. All proposals submitted have been endorsed by shareholders. These proposals included the appointment of Directors and Auditors. Shareholders holding a total of more than 29{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the capital stock of the Company have voted on these proposals. Directors are elected to the Board with an approval rate of 98{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} or more for each of the following candidates: Ms. Anne Slivitzky and Mr Marcel Robillard, Arness Cordick and Richard Thibault.
In addition, at its meeting of the Board of Directors following the AGM, Mr. Marcel Robillard was re-elected president and CEO and Mr Cordick remains Chairman of the Board of Directors. Mr. Dominique Gagné was re-elected to the position of vice-president exploration, while Ms. Ginette G. Brisson was re-elected to the positions of CFO and Secretary. Anne Slivitzky, Richard Thibault, and Marcel Robillard will form the audit committee.
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 Turgeon Zinc-Copper Project and the Nicholas-Denys Project in New Brunswick and their equity interest in BWR as related to the Little Stull Lake Gold Project in Manitoba. Puma is focusing its exploration efforts in New Brunswick, Canada.
- Published in Mining, News Home, Puma Exploration
Puma (PUM.V) Samples 29.5 Zn at Ann’s Creek Property in New Brunswick
Puma (PUM.V) Samples 29.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn at Ann’s Creek Property in New Brunswick
– Momentum Public Relations –
Press Release: August 11, 2016
Puma Exploration (TSX VENTURE:PUM)(SSE:PUMA) reports results of the summer exploration sampling program at Ann’s Creek property in New Brunswick, Canada. Puma’s geologists have compiled and selected the highest potential within the less explored mineralized zones along the Rocky-Brook trend showing the highest zinc, silver and gold grades in order to evaluate and expand on their size.
The mineralized zones explored during the program, namely, PineTree, Half Mile, Bradly Gold and Great Northern, are spread over a distance of six kilometres and have received very little advanced exploration work to date. About 100 samples have been collected during the program showing very high grade precious and base metals up-to 29{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 14{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Pb, 491 g/t Ag and 8.8 g/t Au.
Table 1 : Selected grab samples results from the Ann’s Creek Property
Samples | UTM_X | UTM_Y | Zones | Au (g/t) |
Ag (g/t) |
Pb ({92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) |
Zn ({92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) |
P193546 | 283693 | 5284570 | Pine Tree | 3.07 | 26 | 1.0 | 0.3 |
P193553 | 283782 | 5284569 | Pine Tree | 3.43 | 89 | 3.6 | 0.2 |
P193554 | 283779 | 5284585 | Pine Tree | 0.98 | 107 | 5.3 | 0.6 |
P193577 | 283054 | 5284489 | Pine Tree | 0.39 | 3 | 0.0 | 1.3 |
P193578 | 283052 | 5284490 | Pine Tree | 2.02 | 9 | 0.1 | 1.7 |
P193624 | 283788 | 5284588 | Pine Tree | 0.63 | 153 | 7.2 | 6.0 |
P193625 | 283830 | 5284588 | Pine Tree | 0.10 | 96 | 4.2 | 1.9 |
P193629 | 283848 | 5284593 | Pine Tree | 0.25 | 149 | 5.3 | 4.7 |
P193633 | 283670 | 5284555 | Pine Tree | 0.85 | 132 | 3.6 | 29.5 |
P193634 | 283674 | 5284547 | Pine Tree | 4.41 | 70 | 2.9 | 1.9 |
P193642 | 283410 | 5284516 | Half Mile | 0.97 | 105 | 4.8 | 7.6 |
P193644 | 283314 | 5284474 | Half Mile | 0.53 | 41 | 1.3 | 2.2 |
P193645 | 283314 | 5284476 | Half Mile | 3.75 | 25 | 1.4 | 7.6 |
P193646 | 283283 | 5284472 | Half Mile | 3.05 | 6 | 0.1 | 0.2 |
P193647 | 283238 | 5284483 | Half Mile | 0.95 | 175 | 11.1 | 5.3 |
P193585 | 277594 | 5282522 | Great Northern | 0.50 | 491 | 14.2 | 1.0 |
P193557 | 279326 | 5283839 | Bradly Gold | 1.78 | 1 | 0.0 | 0.0 |
P193558 | 279326 | 5283840 | Bradly Gold | 6.16 | 1 | 0.0 | 0.0 |
P193559 | 279311 | 5283836 | Bradly Gold | 1.49 | 1 | 0.0 | 0.2 |
P193560 | 279311 | 5283829 | Bradly Gold | 0.66 | 177 | 7.1 | 0.1 |
P193561 | 279309 | 5283831 | Bradly Gold | 1.72 | 33 | 2.2 | 0.4 |
P193595 | 279178 | 5283768 | Bradly Gold | 0.08 | 2 | 0.0 | 1.7 |
P193606 | 279347 | 5283873 | Bradly Gold | 8.81 | 208 | 3.6 | 4.1 |
P193607 | 279347 | 5283872 | Bradly Gold | 6.86 | 113 | 0.9 | 6.4 |
P193608 | 279367 | 5283861 | Bradly Gold | 0.54 | 147 | 1.1 | 2.3 |
P193614 | 281876 | 5284152 | Bradly Gold | 0.26 | 9 | 0.3 | 1.7 |
P193617 | 282643 | 5284368 | Bradly Gold | 0.69 | 8 | 0.1 | 1.3 |
The Ann’s Creek 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. Surface trenching and stripping programs will be conducted in the vicinity of these zones in order to increase their size and extent.
Three-dimensional modeling focusing on the high-grade portions of the Haché and Shaft lenses containing at least 300 grams per tonne (g/t) Ag (10 ounces per ton) has been completed. Puma is currently evaluating different scenario’s to monetize the high grade Ag-Zn-Au- Pb at Hache and Shaft lenses.
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 Turgeon Zinc-Copper Project and the Nicholas-Denys Project in New Brunswick and their equity interest in BWR as related to the Little Stull Lake Gold Project in Manitoba. Puma is focusing its exploration efforts in New Brunswick, Canada.
You can visit us on Facebook and Twitter.
Learn more by clicking here: www.pumaexploration.com
To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/AnnsCreekDeposit.pdf
- Published in Mining, News Home, Puma Exploration
Supply Shortage is Driving Zinc Prices
Supply Shortage: Zinc Prices on the Rise – Mining Opportunities Created
– Momentum Public Relations –
The recent events surrounding the Brexit have been challenging for some base metals on the London Metal exchange. The three-month copper contract for example was down 3.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}.
On the other hand, all base metals have not been affected the same way. Zinc is proving to be an outlier among other base metals. Since the beginning of the year, the price for this base metal gained more than 30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}. The metal mainly used for galvanizing steel and iron has steadily increased its value since early this year and its price even reached its highest level since July 15 2015.
Unlike copper and aluminum, zinc doesn’t suffer from an oversupply. According to the International Lead and Zinc Study Group, global demand for zinc was around 14 million tonnes in April, while total world stocks were around 1.5 million tonnes. It is important to note that these prices have been driven by investors buying in lieu of any change in the fundamentals. According to Robin Bhar, Head of Metals Research at Societe Generale,
“We can expect some further gradual gains admittedly some of the gains have come too quickly because of being based on some buying speculative activity jumping on the bandwagon. So we should expect maybe prices to maybe level off. I think in the fourth quarter when we should see physical demand picking up after the slow summer period, we could see some further gains particularly in zinc and nickel because of an ongoing supply constraints. We are seeing some closures of zinc mines and in nickel we have the threat of mine closures in the Philippines to add to the already existing export ban by Indonesia. So, we would expect further modular gain certainly in the last quarter of this year.”
Canada’s zinc output has been on the decline for the last few years. This decline can be explained by the closure of the Brunswick #12 mine in 2013. This mine was the largest deposit in the Bathurst area and was one of the largest underground zinc mines in the world up until its resources were depleted. The success of Brunswick #12 pushed several mining companies to explore the region in order to take advantage of high level of resources available. One extremely interesting company in the region is Puma exploration Inc. (TSX.V). The company is exploring and developing multiple properties (in red) in New Brunswick, only a couple kilometers north of Brunswick #12 Mine. With demand on the rise and Trevali starting commercial production at its Caribou mine, Puma Exploration is a great opportunity for investors who want to take advantage of an improving zinc market.
For more information on Puma Exploration (PUM:tsxv) visit their website at www.explorationpuma.com/
You can also read the following update released by Puma on July 19th, 2016.
- Published in Blog, Mining, Puma Exploration
Puma Exploration Reports on New Brunswick Operations
Puma Exploration Reports on New Brunswick Operations
– Momentum Public Relations –
Press Release: July 19, 2016
Puma Exploration (TSX VENTURE:PUM)(SSE:PUMA) (“Puma”) is pleased to report progress on its New Brunswick operations. Puma will maintain its focus in the prolific Bathurst Mining Camp of New Brunswick, while it is currently in the process to sell the Little Stull Lake Gold project in Manitoba, the only project outside New Brunswick.
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 mine development within the established Canadian mining jurisdiction. Puma’s main active Projects are the Turgeon VMS (Cu-Zn), the Red Brook Skarn (Zn-Cu-Au), the Ann’s Creek Polymetallic Deposits (Ag-Au-Zn-Pb) and the Beresford Copper Porphyry (Mo-Cu). In fact, Puma’s projects in New Brunswick offer a wide range of commodities to investors which are mainly oriented toward base metals (Zinc – Copper) but also give significant exposure to precious metals (Gold – Silver) and to strategic metals (Molybdenum).
With the recent acquisition of the Red Brook, high grade zinc property, Puma is strengthening his high quality base metal projects in its portfolio. Both, Turgeon (Zn-Cu) and Red Brook (Zn) properties will get most of the field exploration during the summer and fall seasons.
Turgeon VMS (Zn-Cu)
Puma’s initiated a drilling program (2,000 meters) is designed to test the first priority targets defined from the recent ground geophysical survey (IP) carried out on the Turgeon VMS (Cu-Zn) project. 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 program is still underway and the results will be released when they will come available.
Red Brook Skarn (Zn-Cu-Au)
Red Brook was acquired from a local prospector’s following his recent discovery of high grade Zinc Massive Sulphide outcrop grading up to 13{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 0.23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu and 2.5g/t Ag. The initial excavation, 40 meters by 15 meters area, also contains a Gold and Copper zone grading up-to 1.3 g/t Au and 0.53{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu (see News 19/01/2016). The mineralization is open in all directions. Currently, Puma’s crew is prospecting and exploring the area in preparation for major stripping program over the main Zinc showing.
Ann’s Creek Polymetallic Lenses (Ag-Au-Zn-Pb)
The mineralized lenses, namely Haché, Shaft, Henry, Henry East, Half Mile and Pine Tree of the Ann’s Creek Property are spread over a distance of 6 kilometers and have received very little advanced exploration work with the 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. Also, geologists have prospected and mapped over the other existing lenses and in new areas to define other high grade base and precious metals potential. Results from this work will be released shortly.
Beresford Copper Porphyry (Cu-Mo)
The Beresford Copper Project consists mainly of the large 4 km diameter Nicholas-Denys porphyry intrusion. 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. 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. Puma is currently seeking a strategic partner to explore and develop the Nicholas-Denys Porphyry system.
Puma also announces the closing of private placement offering with qualified investors, employees, executive officers, directors and consultant in the amount of $545,980. With this placement, Puma Exploration issued 9,099,665 common shares at the price of $0.06 per share and 9,099,665 warrants. Each full warrant gives its holder the right to purchase one common share at a price of $0.10 per share until July 19th, 2018. In connection with this Private Placement, the Company has paid cash finder’s fees in an amount of only $2,558 and issued only 42,640 finder’s warrants will entitle holder to acquire one additional common share of Puma at a price of $0.06 for 24 months.
All securities issued to purchasers and finders under the Offering are subject to a four-month hold period from the date of issuance of the securities, pursuant to applicable securities legislation and the policies of the TSX Venture Exchange. These placements have received the conditional approval of the TSX Venture Exchange. The proceeds of the Offerings will be used for the exploration and development of Puma’s properties in New Brunswick and for general purposes of the company. Further to the placement, Puma will hold 131,965,598 shares issued and outstanding common shares.
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 Turgeon Zinc-Copper Project and the Nicholas-Denys Project in New Brunswick and their equity interest in BWR as related to the Little Stull Lake Gold Project in Manitoba. Puma is focusing its exploration efforts in New Brunswick, Canada.
Learn more by clicking here: www.pumaexploration.com
- Published in Mining, News Home, Puma Exploration
Puma Signs LOI to Develop Little Stull Lake Gold Project in Manitoba
Puma Signs LOI to Develop Little Stull Lake Gold Project in Manitoba
– Momentum Public Relations –
Press Release: July 12, 2016
Puma Exploration (TSX VENTURE:PUM)(SSE:PUMA) (“Puma”) has signed a LOI (letter of intent) with Black Widow Resources Inc. (TSX VENTURE:BWR) (“BWR”) to sell 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of its interest in the Little Stull Lake Gold project in northern Manitoba. The gold project is composed of the adjoining Little Stull Lake claims (20 claims totaling 2,900ha) and the Kistigan (14,715 ha) and Edmund Lake (20,310 ha) Mineral Exploration Licenses (MEL).
Following its corporate development plan, Puma is concentrating its efforts on the Famous Bathurst Mining Camp of New Brunswick, where a drilling program is underway at the Turgeon Zinc-Copper Project. Puma will continue to benefit from the exploration and development of the Little Stull Lake Gold project by having a significant (approximate 20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) equity interest in BWR.
The main elements of the LOI with BWR include a cash payment of $150,000, from which the first $50,000 was a deposit due upon signing the LOI as well as two other milestone payments of $50,000 each, payable when Edmund Lake and Kistigan Mineral Exploration Licenses are transferred to BWR. Also, Puma will receive up to 10,000,000 BWR shares that on a pro forma basis may represent a significant (approximately 20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) equity in BWR. The first 5,000,000 shares will be received at the signature of the final definitive agreement. The remaining 5,000,000 shares to be received upon certain exploration and development milestones being met by BWR over the next years. In addition, Puma will have the first right of refusal to maintain its pro rata interest in BWR by investing in future financings of BWR. If commercial production is attained at the Little Stull Lake Project, Puma retains a non-buyable 1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the NSR. Puma will also nominate one director to the BWR board of Directors.
The most recent corporate activity in the Project area is the Yamana Gold (TSX:YRI) takeover of Mega Precious Metals (TSX VENTURE:MGP). Yamana now holds the Monument Bay Gold Deposit (see MGP news release 2015-06-22) located 15km southwest of the Little Stull Lake Gold Deposit
“Now, with what we think is the beginning of a new bull market for significant Gold Projects, we are very pleased to sign the LOI with Black Widow Resources Inc. From the different opportunities and propositions evaluated over the last few months, Mr. Novak and his management team at Black Widow were preferred because of their proven discovery track record and their demonstrable ability to develop effective and respectful working relationships with First Nation Communities.” notes Marcel Robillard, President of Puma Exploration.
The Little Stull Lake gold zones lie in a similar geological environment to that of the nearby Monument Bay deposit being developed by Yamana Gold. Monument Bay is reported to contain 3.1 million ounces of gold (MGP news release 2014-11-21). The historical drilling carried out on Little Stull Lake property resulted in the discovery of high-grade gold mineralization in an Archean greenstone belt. The gold mineralization is mainly confined to quartz veins in brecciated basalt 25 to 50 metres thick. This unit has so far been traced on surface (diamond drilling and surface trenches) at Little Stull Lake for more than 5 km and coincides with a major regional fault striking more than 60 km in length that is currently protected by the Mineral Exploration Licenses.
Puma completed ten (10) drill holes totalling 1,500 metres in the Little Stull Lake gold property’s 11W Zone in 2007. This zone carries the highest gold grades intersected in drilling of the basalt during previous work, with 330 g/t Au, 202 g/t Au, and 125 g/t Au over one metre of core, which are included in longer intercepts of 7.4 g/t Au over 47.0m and 4.5 g/t Au over 45.2m. All of Puma’s holes intersected the mineralized basalt, which contains an average of three core intersections one metre in length with gold values ranging from 1 to 46 g/t Au. Moreover, the drilling intersected some high-grade layers one metre long containing 46.0 g/t Au, 15.6 g/t Au, 8.4 g/t Au, and 7.2 g/t Au (PUM news release 2008-09-01).
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 Turgeon Zinc-Copper Project and the Nicholas-Denys Project in New Brunswick and their equity interest in BWR as related to the Little Stull Lake Gold Project in Manitoba. Puma is focusing its exploration efforts in New Brunswick, Canada.
Learn more by clicking here: www.pumaexploration.com
- Published in Mining, News Home, Puma Exploration
Puma Begins Drilling Operations at Turgeon Cu-Zn VMS Project in New Brunswick, Canada
Puma Begins Drilling Operations at Turgeon Cu-Zn VMS Project in New Brunswick, Canada
– Momentum Public Relations –
Press Release: 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{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu and 0.78{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn (press release 29\04\2014). The autumn 2014 drill program included a massive sulphide intercept grading 5.66{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 0.38{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu and 2.3 g/t Ag over 6.8 metres starting downhole at 219.1 meters and including 10.05{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn and 0.23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} 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{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 0.23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} 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{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} 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.
Puma would also like to announce its new Mobile App is now available on Android and Apple smartphone’s. You can download the App by searching for Puma Exploration.
Learn more by clicking here: www.pumaexploration.com
- Published in Mining, News Home, Puma Exploration