Puma Exploration starts drilling program at Murray Brook Deposit
Puma Exploration starts drilling program at Murray Brook Deposit
Momentum Public Relations
Press Release: August 23, 2017
Puma Exploration Inc. (the “Company” or “Puma”) (TSX VENTURE:PUM)(SSE:PUMA) has begun its first drilling program at the Murray Brook Deposit. The first hole is underway and is collared to test the depth extension of the massive sulphide deposit located at surface and extending, continuously to 300 meters vertical.
Two (2) other holes are planned to verify the shallower copper mineralization intersected in the southwestern part of the deposit. The copper zone is open along strike and lies within the first 100 meters from surface. The targets consist of a combined airborne MEGATEM anomaly and a surface chargeability IP anomaly which have never been drilled.
“We are most excited to launch our own drilling program at the Murray Brook Deposit as it is the first drilling program conducted on this mining lease property since 2013” notes Marcel Robillard, President and CEO of Puma Exploration. The current drilling program begun, as planned, following the completion of phase I of the trenching operation completed on the Murray Brook East property.
Murray Brook East (4925)
The Murray Brook East property (4925) consists of 245 claims (5326 hectares) located between the Murray Brook Mining Lease (#255) and the Caribou Mining Lease (# 246). Its eastern boundary is located only four kilometers west of the producing Caribou Mine owned and operated by Trevali Mining Corp.
An extensive trenching program began on the Murray Brook East property at the beginning of June to verify the targets defined by Puma’s geologists from the data collected by the previous operators which included geophysical surveys (HeliTEM, Magnetic, Gravity) and geochemical surveys (1,853 soil samples). A previous 10 short holes drilling program along the 7 km favorable was conducted in 1956.
Trenching (Phase I)
Puma has completed a trenching program (Phase I) at Murray Brook East property, which consisted of a total of 38 trenches on a 3.8 km length. Some 127 samples were collected and will be analyzed for metals and whole rock geochemistry. The main objective of this preliminary program was to delineate and describe the contact between felsic volcanic and the sediments similar to the favorable horizon hosting the Murray Brook Deposit before proceeding with a drilling program.
Disseminated sulphides to massive sulphide veins were observed over a large gravity anomaly located at the contact between the sediments and the felsic volcanic in the northern boundary of the property. Other mineralized rock was observed mostly around two other gravity anomalies. In many locations, the black shale (sediments) observed were faulted and/or folded locally. This observation is important for the next drilling campaign planned to start in October and these areas will be the first priority targets.
Murray Brook Deposit
The underground sulphide mineral resource estimate of the Murray Brook Deposit comprises measured and indicated mineral resources totalling 5.28 million tonnes averaging 5.24 per cent zinc, 1.80 per cent lead, 0.46 per cent copper, 68.9 grams per tonne silver and 0.65 g/t gold. It contains 610 million pounds of zinc, 209 million pounds of lead, 54 million pounds of copper, 11.7 million ounces of silver and 111,000 ounces of gold at a $85 per-tonne NSR (net-smelter-return) cut-off in the sulphide measured and indicated categories. On February 20th 2017, the NI 43-101 report was accepted and filed on SEDAR.
Puma is actually updating the PEA on the Murray Brook Deposit. Various economic and development scenarios is currently studied from a large open pit to a high grade zinc underground operation.
About the Murray Brook Project
The Murray Brook Project consists of three (3) distinct contiguous areas that cover more than 18 kilometers of the favorable rock hosting the operating Caribou Mine (Trevali Mining Corp.), the Murray Brook Deposit and the past operating Restigouche Mine (Trevali Mining Corp.). From east to west, they are the Murray Brook East Property (4925), the Murray Brook Mining Lease (# 252) and the Murray Brook West Property (7846). The Murray Brook East and Murray Brook West Properties have been subject to various degrees of exploration and share the same potential of increasing the mineral resources defined at the Murray Brook Deposit.
About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company’s major assets are an option to acquire 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} per-cent beneficial interest in the Murray Brook Property, the Turgeon Zinc-Copper Project and the Nicholas-Denys Project located in New Brunswick as well as an equity interest in BWR Resources. Puma’s objective for the coming year is to focus its exploration efforts in New Brunswick.
You can visit us on Facebook and Twitter.
Learn more by consulting www.pumaexploration.com for further information on Puma Exploration Inc.
The contents of this press release were prepared by Marcel Robillard, P.Geo., a Qualified Person as defined in NI 43-101. 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.
Puma Exploration Inc.
Marcel Robillard
President
(418) 724-0901
president@explorationpuma.com
www.pumaexploration.com
- Published in Mining, News Home, Puma Exploration
Puma Exploration Closes Final Tranche of Private Placement
Puma Exploration Closes Final Tranche of Private Placement
Momentum Public Relations
Press Release: July 4, 2017
RIMOUSKI, QUEBEC–(Marketwired – July 4, 2017) – Puma Exploration Inc. (the “Company” or “Puma”) (TSX VENTURE:PUM)(SSE:PUMA) announces today it has closed the second and final tranche of a non-brokered private placement financing of flow-through units with qualified investors, employees and consultants as well as with existing shareholders. The company issued 462,500 units at an issue price of eight cents (0.08$) per unit for gross proceeds of $37,000. Each flow-through unit comprises one flow-through common share and one-half of one common share purchase warrant. Each full warrant gives its holder the right to purchase one common share at a price of 15 cents ($0.15) per share until July 04th, 2019.
In connection with this second and final tranche of private placement, the company has not paid any finders’ fee. All securities issued to purchasers 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. The placement has received the conditional approval of the TSX-V.
As previously announced on June 22nd, 2017, the Company completed the first tranche of the Offering and issued 2,160,000 million units at an issue price of eight cents ($0.08) per unit for gross proceeds of $172,800. Each flow-through unit comprises one flow-through common share and one-half of one common share purchase warrant. Each full warrant gives its holder the right to purchase one common share at a price of 15 cents ($0.15) per share until June 22nd, 2019.
The proceeds of the offerings will be used for the exploration and development of Puma’s properties in New Brunswick in particular for the current trenching and drilling program on the Murray Brook East Property.
Murray Brook East (4925)
The Murray Brook East Property (4925) consists of 245 claims (5326 hectares). Its eastern boundary is contiguous to the Caribou Mining Lease (# 246) and is located only four kilometers west of the producing Caribou Mine owned and operated by Trevali Mining Corp.
The previous operators of the Murray Brook Property conducted extensive preliminary exploration work from 2012 to 2015 which included geophysical surveys (HeliTEM, Magnetic, Gravity) and geochemical surveys (1,853 soil samples), bringing the property to drill-ready targets. The surveys identified 5 first priority targets to be explored. The previous drilling operation along the 7 km long favorable horizon was conducted in 1956 and included only 10 short holes.
About the Murray Brook Project
The Murray Brook Project consists of three (3) distinct contiguous areas that cover more than 18 kilometers of the favorable rock hosting the operating Caribou Mine (Trevali Mining Corporation), the Murray Brook Deposit and the past operating Restigouche Mine. From east to west, they are the Murray Brook East Property (4925), the Murray Brook Mining Lease (# 252) and the Murray Brook West Property (7846). The Murray Brook East and Murray Brook West Properties have been subject to various degrees of exploration work and share the same potential of increasing the mineral resources defined at the Murray Brook Deposit.
About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company’s major assets are the 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} per-cent beneficial interest in the Murray Brook Property, the Turgeon Zinc-Copper Project and the Nicholas-Denys Project located in New Brunswick as well as an equity interest in Black Widow Resources related to the Little Stull Lake Gold Project in Manitoba. Puma’s objective for the coming year is to focus its exploration efforts in New Brunswick.
You can visit us on Facebook and Twitter.
Learn more by consulting www.pumaexploration.com for further information on Puma Exploration Inc.
The contents of this press release were prepared by Marcel Robillard, P.Geo., a Qualified Person as defined in NI 43-101. 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.
Puma Exploration Inc.
Marcel Robillard
President
(418) 724-0901
president@explorationpuma.com
www.pumaexploration.com
- Published in Mining, News Home, Puma Exploration
Puma Exploration launches Trenching Program at Murray Brook East Property
Puma Exploration launches Trenching Program at Murray Brook East Property
Momentum Public Relations
Press Release: June 22, 2017
RIMOUSKI, QUEBEC–(Marketwired – June 22, 2017) – Puma Exploration Inc. (TSX VENTURE:PUM)(SSE:PUMA) (the “Company” or “Puma”) begins a trenching program at Murray Brook East Property. The reconnaissance program, aimed at providing the best land access and to evaluate the work needed to proceed with the more advance work as Trenching and drilling operations is done over the entire Murray Brook Project land package (7,678 hectares). It appears that most of the first priority targets are located within or very close to wood cutting areas and along logging roads, therefore minimum additional work will be needed to proceed with the trenching and stripping operations prior to the drilling program. Thus, the first area to be explored is the Murray Brook East Property.
Murray Brook East (4925)
The Murray Brook East Property (4925) consists of 245 claims (5326 hectares). Its eastern boundary is contiguous to the Caribou Mining Lease (# 246) and is located only four kilometers west of the producing Caribou Mine owned and operated by Trevali Mining Corp.
The previous operators of the Murray Brook Property conducted extensive preliminary exploration work from 2012 to 2015 which included geophysical surveys (HeliTEM, Magnetic, Gravity) and geochemical surveys (1,853 soil samples), bringing the property to drill-ready targets. The surveys identified 5 first priority targets to be explored. The previous drilling operation along the 7 km long favorable horizon was conducted in 1956 and included only 10 short holes.
Private Placement
Puma Exploration Inc. has closed the first tranche of a non-brokered private placement financing of flow-through units with qualified investors, employees and consultants as well as with existing shareholders. The company issued 2,160,000 million units at an issue price of eight cents (0.08$) per unit for gross proceeds of $172,800. Each flow-through unit comprises one flow-through common share and one-half of one common share purchase warrant. Each full warrant gives its holder the right to purchase one common share at a price of 15 cents (0.15$) per share until June 22nd, 2019.
In connection with this private placement, the company has paid cash finders’ fees in an amount of $12,704 and issued 158,800 finders’ warrants, each entitling the holder to acquire one additional common share of Puma at a price of eight cents (0.08$) 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. The placement has received the conditional approval of the TSX-V.
The proceeds of the offerings will be used for the exploration and development of Puma’s properties in New Brunswick.
About the Murray Brook Project
The Murray Brook Project consists of three (3) distinct contiguous areas that cover more than 18 kilometers of the favorable rock hosting the operating Caribou Mine (Trevali Mining Corporation), the Murray Brook Deposit and the past operating Restigouche Mine. From east to west, they are the Murray Brook East Property (4925), the Murray Brook Mining Lease (# 252) and the Murray Brook West Property (7846). The Murray Brook East and Murray Brook West Properties have been subject to various degrees of exploration work and share the same potential of increasing the mineral resources defined at the Murray Brook Deposit.
About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company’s major assets are the 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} per-cent beneficial interest in the Murray Brook Property, the Turgeon Zinc-Copper Project and the Nicholas-Denys Project located in New Brunswick as well as an equity interest in Black Widow Resources related to the Little Stull Lake Gold Project in Manitoba. Puma’s objective for the coming year is to focus its exploration efforts in New Brunswick.
You can visit us on Facebook and Twitter.
Learn more by consulting www.pumaexploration.com for further information on Puma Exploration Inc.
The contents of this press release were prepared by Marcel Robillard, P.Geo., a Qualified Person as defined in NI 43-101. 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.
Puma Exploration Inc.
Marcel Robillard
President
(418) 724-0901
president@explorationpuma.com
www.pumaexploration.com
- Published in Mining, News Home, Puma Exploration
Puma Exploration to begin Summer Exploration Program at Murray Brook Project
Puma Exploration to begin Summer Exploration Program at Murray Brook Project
RIMOUSKI, QUEBEC–(Marketwired – May 10, 2017) – Puma Exploration Inc. (TSX VENTURE:PUM)(SSE:PUMA) (the “Company” or “Puma”) is to begin its initial Exploration Program on the Murray Brook Project located in the famous Bathurst mining camp of northern New Brunswick, Canada. Puma has received all necessary permits to proceed with the projected work program which includes a first phase reconnaissance operation followed by trenching, stripping and drilling operations.
The Murray Brook Project consists of three (3) distinct contiguous areas that cover more than 18 kilometers of the favorable rock hosting the operating Caribou Mine (Trevali Mining Corporation), the Murray Brook Deposit and the past operating Restigouche Mine. From east to west, they are the Murray Brook East Property (4925), The Murray Brook Mining Lease (# 252) and the newly acquired Murray Brook West Property (7846). These areas have been subject to various degrees of exploration work but share the same potential to increase the mineral resources defined at the Murray Brook Deposit.
Murray Brook East (4925)
The Murray Brook East Property (4925) consists of 245 claims (5326 Hectares). Its eastern boundary is contiguous to the Caribou Mining Lease (# 246) and is located only four kilometres west of the producing Caribou mine owned and operated by Trevali Mining Corp. The previous operators of the Murray Brook Property conducted extensive preliminary exploration work from 2012 to 2015 which included geophysical surveys (Magnetic-Electromagnetic-Gravity) and geochemical surveys (soils) to bring the property to drill-ready targets. The surveys identified 5 first priority targets to be explored. The previous drilling operation along the 7 km long favorable horizon was conducted in 1956 and included only 10 short holes.
Murray Brook Mining Lease (# 252)
The Murray Brook Mining Lease is located in the center of the area of interest and hosts the Murray Brook Deposit. The underground sulphide mineral resource estimate of the Murray Brook Deposit comprises measured and indicated mineral resources totalling 5.28 million tonnes averaging 5.24 per cent zinc, 1.80 per cent lead, 0.46 per cent copper, 68.9 grams per tonne silver and 0.65 g/t gold. It contains 610 million pounds of zinc, 209 million pounds of lead, 54 million pounds of copper, 11.7 million ounces of silver and 111,000 ounces of gold at an $85 per-tonne net-smelter-return cut-off in the sulphide measured and indicated categories. On February 20th 2017, the NI 43-101 report was accepted and filed on SEDAR.
After reviewing the current drill hole database, Puma’s geologists have defined first priority targets to verify the extension of the deposit along strike and also at depth. An EM survey defined 2 geophysical anomalies to be tested as well. On the south-west side of the deposit, a previous hole drilled in 2012 intersected 5.26{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cu over 9.75 meters at the outer edge of the deposit and is open to the south.
Murray Brook West (7846)
The Murray Brook West Property recently acquired by map staking contains 86 claims (1,870 Hectares). It is located west and contiguous to the Murray Brook Deposit Mining lease toward the past operating Restigouche Mine over a strike length of six (6) kilometers. It covers drill-ready targets contained within a similar geological setting as the one of the Murray Brook Deposit. Puma’s geologists are currently compiling the data to prioritize those surface targets.
Preliminary Economic Assessment (PEA)
Concurrent with the field work program, Puma is working on an updated preliminary economic assessment (PEA) on its Murray Brook Deposit. The updated PEA will assess the best means of extracting mineralization and will place a capital expenditure figure on the project. Different mining scenarios are possible at Murray Brook, as the deposit starts at surface and goes at depth to 300 meters, and the higher grade sulphide zone is located between 200-300 meters deep.
Puma’s engineer is proceeding with the review and the evaluation of different metallurgy reports previously done on the Murray Brook Deposit to define the best flowsheet to be applied at the Murray Brook Deposit in order to enhance the recovery of polymetallic sulphide mineralization but also to evaluate the potential Cu-Rich oxide zone located at the top of the deposit which should improve the economics of the entire in situ mineralization.
About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company’s major assets are the 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} per-cent beneficial interest in the Murray Brook Property, the Turgeon Zinc-Copper Project, the Nicholas-Denys Project in New Brunswick and an equity interest in Black Widow Resources related to the Little Stull Lake Gold Project in Manitoba. Puma’s objective for the coming year is to focus its exploration efforts in New Brunswick.
You can visit us on Facebook and Twitter.
Learn more by consulting www.explorationpuma.com for further information on Puma Exploration Inc.
The contents of this press release were prepared by Marcel Robillard, P.Geo., a Qualified Person as defined in NI 43-101. 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.
Puma Exploration Inc.
Marcel Robillard, President
(418) 724-0901
president@explorationpuma.com
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Mining, News Home, Puma Exploration
Puma Exploration secures the option to acquire 100 interest in the Murray Brook Property
Puma Exploration secures the option to acquire 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest in the Murray Brook Property
RIMOUSKI, QUEBEC–(Marketwired – May 4, 2017) – Puma Exploration Inc. (TSX VENTURE:PUM)(SSE:PUMA)(The “Company” or “Puma”) is pleased to announce that it has secured the option to acquire the remaining 32.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} beneficial interest from El Nino Ventures Inc. (“El Nino”), upon the terms described in the press release dated May 1st, 2017, in the Murray Brook property by completing the initial requirements. The Murray Brook property, located in the famous Bathurst mining camp of northern New Brunswick, consists of mining lease 252 and contiguous mineral claim block 4925 (245 claims) located four kilometres west of the producing Caribou mine which is owned and operated by Trevali Mining Corp.
On February 24th, 2017, Puma Exploration closed the purchase agreement with Votorantim Metals Canada Inc and with today announcement, Puma now holds an option to acquire 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} beneficial interest in the Murray Brook Property. With new properties staked, Puma controls or has an option to control 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest over more than 18 kilometers of one of the best Zinc potential area that cover the favorable rock hosting the operating Caribou Mine (Trevali Mining Corporation), the Murray Brook Deposit and the past operating Restigouche Mine.
As part of the TSX Venture Exchange requirements, Puma closed a first tranche of a private placement (the “Offering”) with qualified investors, employees, consultant and existing security holders for gross proceeds of $140,000 and issued 2,000,000 units (each a “Unit”) at the price of $0.07 per Unit. Each Unit comprises one common share and one full common share purchase warrant. Each warrant gives its holder the right to purchase one common share at a price of $0.15 per share until 04 May, 2017.
In connection with the Offering, the Company paid cash finder’s fees of $2,240 and issued 32,000 finder’s warrants that entitle the holder to acquire one additional common share of Puma at a price of $0.07 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. The proceeds of the Offering will be used for the exploration and development of Puma’s properties in New Brunswick and for general corporate purposes.
All transactions described herein have received the conditional approval of the TSX Venture Exchange.
About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company’s major assets are the 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} per-cent beneficial interest in the Murray Brook Property, the Turgeon Zinc-Copper Project, the Nicholas-Denys Project in New Brunswick and an equity interest in Black Widow Resources related to the Little Stull Lake Gold Project in Manitoba. Puma’s objective for the coming year is to focus its exploration efforts in New Brunswick.
You can visit us on Facebook and Twitter.
Learn more by consulting www.pumaexploration.com for further information on Puma Exploration Inc.
The contents of this press release were prepared by Marcel Robillard, P.Geo., a Qualified Person as defined in NI 43-101. 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.
CONTACT INFORMATION
- Published in Mining, News Home, Puma Exploration
Puma (PUM:tsxv) increases strategic land holdings at Murray Brook Zinc Project
Puma increases strategic land holdings at Murray Brook Zinc Project, New Brunswick, Canada
Momentum Public Relations
Press Release: April 18, 2017
Puma Exploration Inc. (TSX VENTURE:PUM)(SSE:PUMA) (the “Company” or “PUMA”) has secured strategic land holdings at the Murray Brook Project by staking 86 additional claims (2,000 ha) that cover the favourable rock formation hosting the operating Caribou Mine (Trevali Mining Corporation), the Murray Brook Deposit as well as the past operating Restigouche Mine.
The new claims (100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Puma) are located west and contiguous to the Murray Brook Mining Lease (252) toward the past operating Restigouche Mine over a strike length of six (8) kilometers. It covers drill-ready targets contained within a similar geological setting as the Murray Brook Deposit. Puma’s geologists are currently compiling the available data to prioritize surface targets to be explored.
“The new acquisition strengthens Puma’s holdings in the Murray Brook area and secures its strategic land positioning between the Caribou and Restigouche Mines, at this particular time of intense activity with the present claim rush happening in New Brunswick where approximately 4,000 new claims (86,783 hectares) have been staked over the past 3 months. Puma currently holds 67.9 per-cent beneficial interests in the Murray Brook Property and is committed and confident to acquire the remaining 32.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} from El Nino Venture. Thus, Puma will control 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest over more than 18 kilometers of prime mining claims in one of the best Zinc potential areas in Canada” notes Marcel Robillard, Puma’s President.
In addition, Puma has launched a Preliminary Economic Assessment (PEA) on its Murray Brook Deposit. The updated PEA will assess the best means of extracting mineralization and examine whether the project should start out as an open pit and later divert to underground operations or begin with an outright underground scenario. As well, the report will place an initial capital expenditure figure on the project. Different mining scenarios are possible at Murray Brook since the Deposit starts at surface to 300 meters in depth with the higher grade zone located between 200-300 meters deep.
About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company’s major assets are the 67.9 per-cent beneficial interests in the Murray Brook Property, the Turgeon Zinc-Copper Project, the Nicholas-Denys Project in New Brunswick and an equity interest in Black Widow Resources related to the Little Stull Lake Gold Project in Manitoba. In 2017, Puma will direct all of its efforts on the Company’s three (3) main base metal projects in New Brunswick which consist of the Murray Brook, Turgeon and Nicholas-Denys projects with emphasis given to the Murray Brook Property.
You can visit us on Facebook and Twitter.
Learn more by consulting www.pumaexploration.com for further information on Puma Exploration Inc.
The contents of this press release were prepared by Marcel Robillard, P.Geo., a Qualified Person as defined in NI 43-101. 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.
- Published in Mining, News Home, Puma Exploration
Puma Exploration launches Preliminary Economic Assessment on Murray Brook ZINC Deposit, New Brunswick, Canada
Puma Exploration launches Preliminary Economic Assessment on Murray Brook ZINC Deposit, New Brunswick, Canada
Momentum Public Relations
Press Release: April 11, 2017
RIMOUSKI, QUEBEC–(Marketwired – April 11, 2017) – Puma Exploration Inc. (TSX VENTURE:PUM)(SSE:PUMA) (the “Company” or “PUMA”) has launched a Preliminary Economic Assessment (“PEA”) on its high-grade Zinc Murray Brook Deposit (the “Deposit”) located in the Bathurst Mining Camp, New Brunswick. PUMA has appointed P&E Mining Consultants Inc. (“P&E”) of Brampton, Ontario to lead the study and prepare an NI 43-101 technical report on the project by year end. P&E has previously completed an initial Mineral Resource Estimate and a positive PEA in 2013 on the high tonnage (17 M tonnes) lower grade open pit scenario of the Deposit and prepared an National Instrument 43-101 (“NI 43-101”) Mineral Resource Estimate on the underground high-grade Zinc portion of the deposit in December 2016.
Preliminary Economic Assessment (PEA)
The updated PEA will assess the best means of extracting the mineralization and examine whether, owing to the current prices of metals, the project should commence as an open pit whith later transition to underground operations or only as an underground scenario. The capital expenditures and operating costs will be evaluated as well as the different options to monetize the oxide Mineral Resource located on the top of the Deposit. Different mining scenarios are possible at Murray Brook, since the Deposit starts at surface to 300 metres in depth with the higher grade zone is located between 200-300 metres. The Deposit remains open at depth.
“The completion of the PEA will be a truly defining milestone for PUMA with the Murray Brook project. The potential to grow the Mineral Resource is significant according to the drill ready targets located along strike and toward the Caribou Mine” notes Marcel Robillard, PUMA’s President.
Open Pit Mineral Resource Estimates
The Deposit contains sulphide historical resources of 1.078 Blbs of zinc (“Zn”), 183 Mlbs of Copper (“Cu”), 390 Mlbs of Lead (“Pb”), 23.9 Moz of Silver (“Ag”) and 338 Koz of Gold (“Au”) within historical measured and indicated resources of 17,884,000 tons at 2.73 {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 0.47 {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.99 {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Pb, 41.7 g/t Ag and 0.59 g/t Au.
The historical Mineral Resource Estimate was prepared for Votorantim Metals Canada in accordance with 43-101 in 2012 from 132 drillholes and used terminology compliant with the current reporting standards. PUMA has not made any attempt to reclassify the Mineral Resource Estimates according to current standards of disclosure, and is not treating the estimate as a current Mineral Resource. Investors are cautioned that historical Mineral Resources are considered conceptual in nature, and there is no guarantee that historic potential Mineral Resources will be able to be converted into current NI 43-101 Mineral Resource categories or demonstrate economic viability. A qualified person has not done sufficient work to classify the historical estimate as current Mineral Resource.
Underground Mineral Resource Estimate
The underground Sulphide Mineral Resource Estimate is comprised of Measured and Indicated Mineral Resources totaling 5.28 million tonnes averaging 5.24{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 1.80{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Pb, 0.46{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 68.9 g /t Ag and 0.65 g /t Au. It contains 610 Mlbs of Zn, 209 Mlbs of Pb, 54 Mlbs of Cu, 11.7 Moz of Ag and 111 Koz of Au at a C$85 per tonne net smelter return (” NSR”) cut-off in the Sulphide Measured and Indicated categories.
The National Instrument 43-101 Mineral Resource Estimate for sulphide and oxide mineralization at an $85/t NSR cut-off was used. The drilling database of the Deposit contains 10,045 samples, all of which were analyzed for Zn, Pb, Cu, Ag and Au. A total of 7,964 assays from 141 drill holes have been utilized for the Mineral Resource Estimate. The drilling was carried on between 2010 to 2013.
About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company’s major assets are the 67.9-per-cent beneficial interest in the Murray Brook Property, the Turgeon Zinc-Copper Project, the Nicholas-Denys Project in New Brunswick and an equity interest in Black Widow Resources with the Little Stull Lake Gold Project in Manitoba. In 2017, PUMA will direct all of its efforts on the Company’s three (3) main base metals projects in New Brunswick which are the Murray Brook, Turgeon and Nicholas-Denys projects with special emphasis on the Murray Brook Property.
You can visit us on Facebook and Twitter.
Learn more by consulting www.pumaexploration.com for further information on Puma Exploration Inc.
The contents of this press release were prepared by Marcel Robillard, P.Geo., a Qualified Person as defined in NI 43-101. 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.
CONTACT INFORMATION
-
Puma Exploration Inc.
Marcel Robillard, President
(418) 724-0901
president@explorationpuma.com
- Published in Mining, News Home, Puma Exploration
Puma Exploration (PUM:tsxv) Releases NI 43-101 Murray Brook Resource Estimate
Puma Exploration Releases NI 43-101 Measured and Indicated Sulphide Mineral Resource Estimate at Murray Brook Deposit Containing 610Mlbs of Zinc @ 5.24{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn
– Momentum Public Relations –
Press Release: December 21, 2016
In its ongoing plan of action to acquire the Murray Brook Property, Puma Exploration Inc. (TSX VENTURE:PUM)(SSE:PUMA) is pleased to announce completion of a Mineral Resource Estimate on the Murray Brook Deposit located in the Bathurst Mining Camp (BMC) in Northern New Brunswick, Canada. A technical report will be filed on SEDAR within 45 days of this news release.
Highlights:
- The underground Sulphide Mineral Resource Estimate is comprised of Measured and Indicated Mineral Resources totaling 5.28 million tonnes averaging 5.24{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 1.80{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Pb, 0.46{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 68.9 g/t Ag and 0.65 g/t Au.
- The Murray Brook Deposit (“MBD”) contains 610 Mlbs of Zinc, 209 Mlbs of Lead, 54 Mlbs of copper, 11.7 Moz of silver and 111 Koz of gold at a C$85 per tonne NSR cut-off in the Sulphide Measured and Indicated categories.
- Oct 31/16 two year trailing average metal prices for Zn (US$0.90/lb), for Pb (US$0.82/lb), for Cu (US$2.39/lb) with a $US/$C Exchange Rate $0.78 were used for calculating the Mineral Resource Estimate.
- The Measured and Indicated Mineral resource categories represent respectively 68{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} and 30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the total Sulphide Mineral Resource Estimate and will be used to launch a PEA for underground mining operation in the first half of 2017.
- Metal recoveries to concentrate of Zn (89{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}), Pb (37{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}), Cu (51{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) Ag (55{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) and Au (0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) were used for calculating the Mineral Resource Estimate.
- The deposit starts at surface and continues, so far, to a depth of 300 meters and is open at depth and along strike with drill ready UTEM geophysical targets.
The Murray Brook Property (jointly the Mining Lease 252 and the contiguous 245 mineral Claim Block 4925/ the Camel Back Property) is located 4 km west of the producing Caribou Mine owned and operated by Trevali Mining Corporation.
The Murray Brook Deposit is hosted by sedimentary rocks of the Charlotte Brook Member in the lower part of the Mount Brittain Formation. The upper felsic volcanic member of the Mount Brittain Formation is host to the Restigouche deposit, some 10 km to the west. The Mount Brittain Formation is believed to be equivalent of the Spruce Lake Formation which hosts the Caribou Mine, 10 kilometres to the east. Many drill ready geophysical and geochemical targets will be tested during the second half of 2017.
2016 Mineral Resource Estimate
The Technical Report incorporates P&E’s NI 43-101 Mineral Resource Estimate for sulphide and oxide mineralization at a C$85/t Net Smelter Return (“NSR”) cut-off that is summarized in Table 1.
Table 1 Murray Brook Underground Mineral Resource Estimate at C$85/t NSR Cut-Off(1-4) |
||||||||||||
Zone | Category | Tonnes (‘000’s) |
Cu {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Cu M lb |
Pb {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Pb M lb |
Zn {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Zn M lb |
Au g/t |
Au K oz |
Ag g/t |
Ag M oz |
Oxide | Measured | 434 | 1.13 | 10.8 | 1.44 | 13.8 | 4.51 | 43.2 | 0.31 | 4.3 | 60.5 | 0.8 |
Indicated | 105 | 1.94 | 4.5 | 0.82 | 1.9 | 2.84 | 6.6 | 0.46 | 1.6 | 45.3 | 0.2 | |
M+I | 539 | 1.29 | 15.3 | 1.32 | 15.7 | 4.19 | 49.8 | 0.34 | 5.9 | 57.5 | 1.0 | |
Inferred | 4 | 3.94 | 0.3 | 0.19 | 0.0 | 0.62 | 0.0 | 0.46 | 0.1 | 26.6 | 0.0 | |
Sulphide | Measured | 3,681 | 0.36 | 29.0 | 1.87 | 151.9 | 5.57 | 451.7 | 0.56 | 65.8 | 70.5 | 8.3 |
Indicated | 1,603 | 0.70 | 24.8 | 1.63 | 57.4 | 4.48 | 158.4 | 0.88 | 45.1 | 65.3 | 3.4 | |
M+I | 5,284 | 0.46 | 53.8 | 1.80 | 209.3 | 5.24 | 610.1 | 0.65 | 110.9 | 68.9 | 11.7 | |
Inferred | 125 | 2.16 | 5.9 | 0.92 | 2.5 | 2.58 | 7.1 | 0.54 | 2.2 | 47.3 | 0.2 |
(1) | Mineral Resources which are not mineral reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. |
(2) | The quantity and grade of reported Inferred Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as an Indicated or Measured Mineral Resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured Mineral Resource category. |
(3) | The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council. |
(4) | “M” means millions; “K” means thousands. |
The Mineral Resource Estimate classification was determined with the Zn grade interpolation since Zn generated the highest proportionate NSR value in the block model. The zinc price used in the Mineral Resource Estimate was US$0.90/lb. The Mineral Resource Estimate is primarily sensitive to zinc price. The NSR underground cut-off Mineral Resource Estimate sensitivity to the November 30th-2016 spot metal prices are tabulated in Table 2.
Table 2 Murray Brook Underground Spot Metal Price (Nov 30/16) Sensitivity to Resource Estimate at C$85/t NSR Cut-Off |
||||||||||||
Zone | Category | Tonnes (‘000’s) |
Cu {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Cu M lb |
Pb {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Pb M lb |
Zn {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Zn M lb |
Au g/t |
Au K oz |
Ag g/t |
Ag M oz |
Oxide | Measured | 595 | 1.05 | 13.7 | 1.24 | 16.3 | 3.88 | 50.9 | 0.33 | 6.2 | 52.7 | 1.0 |
Indicated | 172 | 1.43 | 5.4 | 0.82 | 3.1 | 2.62 | 10.0 | 0.53 | 2.9 | 42.2 | 0.2 | |
M+I | 767 | 1.13 | 19.2 | 1.14 | 19.4 | 3.60 | 60.9 | 0.37 | 9.2 | 50.3 | 1.2 | |
Inferred | 4 | 3.84 | 0.3 | 0.18 | 0.0 | 0.59 | 0.1 | 0.44 | 0.1 | 26.0 | 0.0 | |
Sulphide | Measured | 6,157 | 0.36 | 48.5 | 1.50 | 202.9 | 4.38 | 593.8 | 0.55 | 108.3 | 58.0 | 11.5 |
Indicated | 3,512 | 0.61 | 47.3 | 1.26 | 97.7 | 3.28 | 254.1 | 0.88 | 98.8 | 53.2 | 6.0 | |
M+I | 9,669 | 0.45 | 95.7 | 1.41 | 300.6 | 3.98 | 847.9 | 0.67 | 207.0 | 56.3 | 17.5 | |
Inferred | 188 | 1.85 | 7.6 | 0.81 | 3.4 | 2.24 | 9.3 | 0.56 | 3.4 | 42.7 | 0.3 |
Puma’s projections for 2017 in view of the purchase of the Murray Brook Deposit are as follows:
- Produce a new PEA (Preliminary Economic Assessment) during the first half of 2017 for HIGH GRADE ZINC zones of the sulphide portion of the deposit contained in the current Mineral Resource Estimate.
- Proceed with additional advanced recovery (metallurgical) tests on the Deposit’s mineralization, focusing on GOLD and SILVER recovery with the objective of establishing the economic value of the deposit.
- Proceed with a drilling exploration program to delineating the size of the deposit and potentially add more deposits along strike in the direction of the Caribou Mine.
Mineral Resource Estimate Methodology
The NI 43-101 Mineral Resource Estimate for sulphide and oxide mineralization at a C$85/t Net Smelter Return (“NSR”) cut-off is summarized in table 1. The drilling database of the Murray Brook Project contains 10,045 samples, all of which were analyzed for copper (“Cu”){92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, lead (“Pb”){92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, zinc (“Zn”){92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, gold (“Au”) g/t and silver (“Ag”) g/t. A total of 7,964 assays from 141 drill holes have been utilized for the Mineral Resource Estimate. The drilling was carried on between 2010 to 2013.
The Murray Brook resource block model was constructed using Gemcom modeling software. The block model is oriented with X axis at 110° azimuth with 3m x 3m x 3m blocks. Inverse Distance Squared (1/d²) grade interpolation was utilized for the Cu, Pb and Zn grade interpolation on capped composites while Inverse Distance Cubed (1/d3) was used for the Au and Ag grade interpolation on uncapped composites. The average block-model mineralized bulk density was calculated to be 4.08 tonnes per cubic metre.
The resource model classification was determined from the Zn interpolation due to Zn generating the highest proportionate contribution to the NSR value in the block model. Based on the semi-variogram performance and density of the drilling data, the Measured Mineral Resource category was justified for blocks interpolated by the first pass using at least seven composites from a minimum of four drill holes within a spacing of 25 m along strike, 40 m down dip and 15 m on the across dip direction. Indicated Resources were classified to the blocks interpolated with the second pass; wheras Inferred Resources were categorized for all remaining unclassified blocks. The classifications of some blocks have been manually adjusted to represent the resource classification more reasonably.
The underground NSR block values were based on two year trailing average metal prices as of October 31, 2016, including Cu at US$2.39/lb, Pb at US$0.82/lb, Zn at US$0.90/lb, Au at US$1,200/oz, Ag at US$16.33/oz, and a $US/$CDN Exchange Rate of $0.78. Taking into consideration concentrate recoveries, refining charges, smelter payables, concentration ratio, smelter treatment charges, humidity factors and concentrate freight charges. The NSR value of the mineralized blocks was calculated using the following formula:
NSR = [(Cu{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} x 24.65) + (Pb{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} x 7.49) + (Zn{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} x 14.98) + (Au x 0.0) + (Ag x 0.24)) – 9.02]/0.78
The projected process recovery, smelter payable, concentrate, transportation and other parameters used in the NSR calculation are as follows:
Cu Concentrate Recovery | 51{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Zn Concentrate Recovery | 89{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Pb Concentrate Recovery | 37{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Ag Concentrate Recovery | 55{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Au Concentrate Recovery | 0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Concentrate Ratio | 54:1 |
Cu Smelter Payable | 95{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Pb Smelter Payable | 95{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Zn Smelter Payable | 85{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Ag Smelter Payable | 90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Au Smelter Payable | 0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Trucking/Storage/Ship Loading | US$30/t per WMT |
Zn Smelter Treatment Charge | US$150/t per DMT |
Cu Smelter Treatment Charge | US$100/t per DMT |
Pb Smelter Treatment Charge | US$140/t per DMT |
Concentrate Humidity Factor | 8.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
These data were derived from the metallurgical reports and other underground mining operations similar to that anticipated at Murray Brook.
The C$85/tonne NSR Mineral Resource Estimate cut-off was derived as follows:
C$57/tonne Mining cost |
C$24/tonne Process cost |
C$4/tonne G&A cost |
The NSR cut-off sensitivities to the Underground Mineral Resource Estimate are tabulated in Table 3.
Table 3 Sensitivity to Underground Mineral Resource Estimate of the Murray Brook Project |
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Zone | Category | Cut-Off | Tonnage | Cu | Cu | Pb | Pb | Zn | Zn | Au | Au | Ag | Ag |
NSR C$/t | tonnes | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | M lb | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | M lb | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | M lb | g/t | K oz | g/t | M oz | ||
Oxide | Measured | 150 | 162,150 | 1.16 | 4.2 | 2.07 | 7.4 | 6.37 | 22.8 | 0.28 | 1.5 | 82.5 | 0.4 |
125 | 246,915 | 1.16 | 6.3 | 1.81 | 9.9 | 5.65 | 30.7 | 0.29 | 2.3 | 73.4 | 0.6 | ||
100 | 353,004 | 1.15 | 9.0 | 1.58 | 12.3 | 4.94 | 38.5 | 0.30 | 3.4 | 65.4 | 0.7 | ||
85 | 434,447 | 1.13 | 10.8 | 1.44 | 13.8 | 4.51 | 43.2 | 0.31 | 4.3 | 60.5 | 0.8 | ||
70 | 529,563 | 1.09 | 12.7 | 1.31 | 15.3 | 4.11 | 47.9 | 0.32 | 5.4 | 55.6 | 0.9 | ||
60 | 608,171 | 1.06 | 14.2 | 1.22 | 16.3 | 3.81 | 51.1 | 0.33 | 6.4 | 52.2 | 1.0 | ||
Indicated | 150 | 23,945 | 3.09 | 1.6 | 0.91 | 0.5 | 3.41 | 1.8 | 0.36 | 0.3 | 49.9 | 0.0 | |
125 | 47,425 | 2.74 | 2.9 | 0.82 | 0.9 | 3.07 | 3.2 | 0.37 | 0.6 | 46.7 | 0.1 | ||
100 | 76,518 | 2.29 | 3.9 | 0.81 | 1.4 | 2.93 | 4.9 | 0.41 | 1.0 | 46.0 | 0.1 | ||
85 | 105,137 | 1.94 | 4.5 | 0.82 | 1.9 | 2.84 | 6.6 | 0.46 | 1.6 | 45.3 | 0.2 | ||
70 | 141,525 | 1.64 | 5.1 | 0.83 | 2.6 | 2.71 | 8.5 | 0.51 | 2.3 | 43.6 | 0.2 | ||
60 | 173,484 | 1.45 | 5.6 | 0.81 | 3.1 | 2.58 | 9.9 | 0.53 | 2.9 | 42.0 | 0.2 | ||
Inferred | 150 | 1,503 | 4.49 | 0.1 | 0.19 | 0.0 | 0.86 | 0.0 | 0.51 | 0.0 | 29.4 | 0.0 | |
125 | 2,271 | 4.34 | 0.2 | 0.19 | 0.0 | 0.76 | 0.0 | 0.50 | 0.0 | 28.7 | 0.0 | ||
100 | 3,215 | 4.08 | 0.3 | 0.18 | 0.0 | 0.63 | 0.0 | 0.47 | 0.0 | 26.7 | 0.0 | ||
85 | 3,595 | 3.94 | 0.3 | 0.19 | 0.0 | 0.62 | 0.0 | 0.46 | 0.1 | 26.6 | 0.0 | ||
70 | 3,917 | 3.82 | 0.3 | 0.18 | 0.0 | 0.59 | 0.1 | 0.44 | 0.1 | 25.9 | 0.0 | ||
60 | 3,917 | 3.82 | 0.3 | 0.18 | 0.0 | 0.59 | 0.1 | 0.44 | 0.1 | 25.9 | 0.0 | ||
Sulphide | Measured | 150 | 1,318,497 | 0.33 | 9.7 | 2.71 | 78.8 | 8.05 | 234.0 | 0.63 | 26.5 | 99.3 | 4.2 |
125 | 1,910,405 | 0.34 | 14.1 | 2.41 | 101.3 | 7.19 | 302.8 | 0.59 | 36.3 | 88.5 | 5.4 | ||
100 | 2,819,661 | 0.35 | 21.5 | 2.08 | 129.5 | 6.23 | 387.4 | 0.56 | 51.1 | 77.4 | 7.0 | ||
85 | 3,680,679 | 0.36 | 29.0 | 1.87 | 151.9 | 5.57 | 451.7 | 0.56 | 65.8 | 70.5 | 8.3 | ||
70 | 4,953,664 | 0.37 | 40.5 | 1.65 | 180.0 | 4.85 | 529.2 | 0.55 | 88.2 | 63.4 | 10.1 | ||
60 | 6,072,003 | 0.38 | 51.0 | 1.50 | 200.5 | 4.37 | 585.3 | 0.55 | 107.4 | 58.5 | 11.4 | ||
Indicated | 150 | 368,910 | 0.45 | 3.6 | 2.97 | 24.2 | 8.10 | 65.9 | 1.00 | 11.9 | 105.7 | 1.3 | |
125 | 585,896 | 0.60 | 7.7 | 2.42 | 31.2 | 6.80 | 87.9 | 0.89 | 16.7 | 88.4 | 1.7 | ||
100 | 1,032,294 | 0.69 | 15.7 | 1.90 | 43.3 | 5.40 | 123.0 | 0.85 | 28.3 | 73.2 | 2.4 | ||
85 | 1,602,774 | 0.70 | 24.8 | 1.63 | 57.4 | 4.48 | 158.4 | 0.88 | 45.1 | 65.3 | 3.4 | ||
70 | 2,669,331 | 0.66 | 38.8 | 1.38 | 81.3 | 3.64 | 214.1 | 0.89 | 76.6 | 57.7 | 5.0 | ||
60 | 3,548,682 | 0.64 | 50.0 | 1.25 | 97.9 | 3.23 | 252.5 | 0.88 | 100.5 | 53.2 | 6.1 | ||
Inferred | 150 | 31,661 | 2.14 | 1.5 | 1.67 | 1.2 | 4.66 | 3.2 | 0.63 | 0.6 | 70.6 | 0.1 | |
125 | 53,133 | 2.33 | 2.7 | 1.31 | 1.5 | 3.74 | 4.4 | 0.58 | 1.0 | 59.4 | 0.1 | ||
100 | 92,588 | 2.29 | 4.7 | 1.02 | 2.1 | 2.92 | 6.0 | 0.55 | 1.6 | 50.7 | 0.2 | ||
85 | 124,834 | 2.16 | 5.9 | 0.92 | 2.5 | 2.58 | 7.1 | 0.54 | 2.2 | 47.3 | 0.2 | ||
70 | 167,127 | 1.98 | 7.3 | 0.82 | 3.0 | 2.28 | 8.4 | 0.55 | 2.9 | 43.8 | 0.2 | ||
60 | 201,151 | 1.84 | 8.2 | 0.77 | 3.4 | 2.13 | 9.4 | 0.55 | 3.6 | 41.4 | 0.3 |
About Puma Exploration Inc.
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 an equity interest in Black Widow Resources related to the Little Stull Lake Gold Project in Manitoba. Puma’s objective for the coming year is to focus its exploration efforts in New Brunswick. Canada.
You can visit us on Facebook and Twitter.
Learn more by consulting www.pumaexploration.com for further information on Puma Exploration Inc.
Qualified Persons Statement
Eugene Puritch, P.Eng. and Yungang Wu, P.Geo. are the Independent Qualified Persons responsible for the Murray Brook Deposit underground Mineral Resource Estimate disclosed in this press release.
Eugene Puritch, P.Eng., President of P&E Mining Consultants Inc. has. reviewed and approved the technical contents of this press release. The contents of this press release were prepared by Marcel Robillard, P.Geo., a Qualified Person as defined in NI 43-101. 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.
- Published in Mining, News Home, Puma Exploration
Puma Exploration: Update on the acquisition of the Murray Brook Property
Puma Exploration: Update on the acquisition of the Murray Brook Property
– Momentum Public Relations –
Press Release: December 15, 2016
Puma Exploration (TSX VENTURE:PUM) (SSE:PUMA) is pleased to provide an update of the acquisition of the Murray Brook Property in the Brunswick Mining Camp (BMC). By mutual agreement of all three (3) parties: Votorantim Metals Canada Inc., El Nino Ventures Inc. and Puma Exploration Inc., the closing date for this acquisition has been postponed to January 20th, 2017. (See news releases 13/10/2016 and 09/11/2016). This extension will allow Puma Exploration to finalize the acquisition of Murray Brook Minerals, which will secure $1M to apply for the initial payment of the purchase agreement, to finalize and fill the updated NI43-101 Resource Estimate for the Murray Brook Deposit and get the regulatory approval for the transactions.
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. With the purchase of the Murray Brook Deposit and Murray Brook Minerals inc., Puma will hold significant assets in the Bathurst Mining Camp, which has produced over 120 million tons of ore since the opening of the Brunswick No.12 Mine.
Puma plans to re-evaluate the Murray Brook deposit in the context of the current metal prices, currency and based on different economic and development scenarios directed to the development of the high grade Zn zones of the deposit. An update Preliminary Economic Assessment (PEA) will be completed in the first half of 2017 with this objective.
Little Stull Lake Transaction
BWR Exploration Inc. has received final approval from the TSX Venture Exchange for the acquisition of a 100-per-cent interest in the Little Stull Lake gold project in Northern Manitoba from Puma Exploration Inc. This transaction was previously announced on Oct. 7, 2016. The payment elements of the acquisition agreement for the Little Stull Lake gold project from Puma include cash payments to Puma of $150,000, of which $50,000 has been paid, and the issuance of up to 10 million BWR common shares.
On December 12th, 2016, BWR Exploration issued 4,750,000 shares to Puma Exploration according to the acquisition agreement signed on October 5, 2016. Puma and BWR have now begun the process for the Little Stull Lake claim title transfer being the next step for the transaction, followed by the $100,000 payment after the transfer of the two Mineral Exploration Licenses that surround the 20 mining claims.
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 an equity interest in BWR Resources 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 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