Puma Identifies Large Geophysical Anomalies at Turgeon VMS Project in New Brunswick
Puma Identifies Large Geophysical Anomalies at Turgeon VMS in New Brunswick
– Momentum Public Relations –
Press Release: February 23, 2016
Puma Exploration (TSX VENTURE:PUM) is pleased to announces the results of a recent ground geophysical survey carried out on the Turgeon Cu-Zn VMS project in northern New Brunswick. The 2015 ground geophysical OreVision IP survey, carried out by Abitibi Geophysics of Val d’Or, was oriented in a northwest-southeast direction perpendicular to the favourable fertile mafic volcanic horizon hosting the known mineralized deposits at Turgeon.
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 major VMS major anomaly of a large size of 350 meters by 350 meters, open at depth and along strike, located on the extension of the major Dragon hydrothermal alteration zone. According to Dr. Steve McCutcheon, New Brunswick VMS expert, “The Dragon Zone and the surrounding altered rocks represent a significant hydrothermal system”, which was unknown at Turgeon prior to Puma’s work.
The Orevision IP survey covers 1.1km of the favourable mafic volcanic extending from 100 meters northeast of the Powerline deposit to 500 meters southwest of the newly discovered Dragon Zone. Laboratory tests on available core were used to define the geophysical signature including, the conductivity, the chargeability and magnetic signature of the deposit and the host rock. The OreVision IP survey captures and processes more data while maintaining optimal resolution up to depths several times greater than conventional IP for the same cost. New Brunswick government granted $70,000 to support the exploration program at Turgeon.
“We are very excited with the results on the OreVision IP survey which identified major untested targets in the favorable horizon were conventional survey failed in the past. Using new technologies like Orevision IP and Diagnos CARDS, added to the association with VMS experts like Steve McCutcheon and Jeff Hussey, takes us a step closer in discovering of new major deposits in the Bathurst Mining Camp.” Note Marcel Robillard, President of Puma Exploration.
New Brunswick government granted $70,000 to support the exploration program at Turgeon.” Note Marcel Robillard, President of Puma Exploration.
About the Turgeon VMS Property
The Turgeon property is located within a few kilometers of the deep water port of Belledune. The project is accessible by road all year round, and is crossed by a power line. 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.
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
Puma Trenches 3.7 Cu at Turgeon Cu-Zn VMS Project in New Brunswick
Puma Trenches 3.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu at Turgeon Cu-Zn VMS Project in New Brunswick
– Momentum Public Relations –
Press Release: February 10, 2016
Puma Exploration (TSX VENTURE:PUM) reports the 2015 fall exploration program at Turgeon Cu-Zn VMS project in northern New Brunswick. The Program at Turgeon was directed to locate precisely the extension of the favourable fertile mafic volcanic horizon hosting the known mineralized zones at Turgeon. The work also included the trenching and stripping of additional surface targets which lead to the discovery of a new copper showing grading up-to 3.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu in the vicinity of the Zinc Zone Lens and the stripping of the previous Jaspe Copper showing grading 21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu et 26{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu.
2015 Fall Exploration Program Highlights:
- Completion of 18 line-kilometers of Geophysical IP Orevision ground survey in collaboration with Abitibi Geophysics;
- Completion of an alteration study including the sampling of 243 outcrops located from the Dragon Zone toward southwest direction to locate the favourable volcanic horizon hosting the mineralized VMS;
- Excavation of seven (7) trenches for a total of 300 meters mainly located between the Zinc Zone and the Dragon lenses;
- Significant Cu stockwork mineralization zone discovered at surface in trench TT15-05 located at the end of the Zinc Zone area and correlating with drilling results at depth including 2.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu over 2.1m (FT15-01) and 1.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu over 2.4m (FT15-03);
- Stripping and sampling of previous copper showing “Jaspe Copper” revealing the highest copper grade collected at surface with 21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu and 26{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu.
Seven (7) strategic trenches have been undertaken to explore new surface targets and to define the alteration of the mafic volcanic which host the main mineralized lenses at Turgeon. More than just locate the favourable horizon, the trenching program expose a significant Cu stockwork mineralization zone discovered at surface at the end of the Zinc Zone area and correlating with drilling results at depth including 2.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu over 2.1m (FT15-01) and 1.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu over 2.4m (FT15-03). The samples collected in this area (TT15-06) return assays between 1.15{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu to 3.72{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu. Also, the field crew has been able to relocate and sample the known Jaspe copper showing found in 1961. The sampling of the “Jaspe Copper” showing revealed the highest copper grade collected at surface at Turgeon with 21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu and 26{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu.
Table 1: Selected samples collected during the trenching program
Sample | Trench | Rock | Cu ({92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | Zn ({92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | Ag (g/t) | |
P160676 | TT15-02 | Ftb | 0.03 | 0.82 | 2.6 | |
P160677 | TT15-02 | Brx Bas | 0.02 | 0.41 | 0.6 | |
P160686 | TT15-02 | Brx Bas | 0.13 | 0.89 | 1.1 | |
P160687 | TT15-02 | Brx Bas | 0.05 | 0.97 | 0.7 | |
P160690 | TT15-06 | Amy Bas | 1.04 | 0.04 | 4.4 | |
P160691 | TT15-06 | Amy Bas | 0.75 | 0.05 | 3.0 | |
P160692 | TT15-06 | Brx Bas | 0.11 | 0.06 | 0.9 | |
P160693 | TT15-06 | Brx Bas | 1.15 | 0.04 | 1.9 | |
P160694 | TT15-06 | Brx Bas | 2.00 | 0.03 | 7.0 | |
P160695 | TT15-06 | Brx Bas | 3.72 | 0.02 | 11.8 | |
P193482 | TT15-07 | Ftb | 0.22 | 1.39 | 9.7 | |
P193485 | TT15-07 | SMS-MS | 21.10 | 0.04 | 44.0 | |
P193486 | TT15-07 | SMS-MS | 26.20 | 0.03 | 41.6 |
Also, to identify the best area within the favourable mafic volcanic horizon, Puma proceeded with an alteration study including 243 samples collected from outcrops and handmade pits. The samples were collected systematically at every 25 meters on a 50 meters spaced grid. The grid covers an area of 600 meters by 500 meters (30 hectares) from the Dragon Zone toward southwest to locate the favourable volcanic horizon hosting the known mineralized lenses within an underexplored area of the property.
A deep IP geophysical ground survey, The OreVision has been conducted on the three (3) known main mineralized zones named: Powerline, Zn Zone and Dragon and has been extended for more than 500 m to the southwest along the favourable volcanic mafic horizon. The survey corresponds to the double of the length of the actual mineralized footprint. This survey added to the alteration survey and the detailed mapping of the project will be used to define the targets to be drilled.
Also, Puma field crews were also mobilized to prepare sites for the drilling program. The drilling targets consist of higher grade Zn-Cu zones in the heart of the newly discovered Dragon Zone and also to verify new mineralized lenses in the southwestern extension of the Dragon Zone where the geophysical survey and the alteration study were completed. The drill set-up work has been delay following the reading of the first line of geophysical survey showing promising target at the South East End of the grid.
About the Turgeon VMS Property
The Turgeon property is located within a few kilometers of the deep water port of Belledune. The project is accessible by road all year round, and is crossed by a power line. 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. 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. (Drillhole FT14-05). 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.
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.
The links below can be used with the images to provide for easy installation of the app.
Apple Store: https://itunes.apple.com/us/app/pumaexploration/id1015183523?ls=1&mt=8
Google Play Store: https://play.google.com/store/apps/details?id=com.app_pumaexploration.layout
Learn more by clicking here: www.pumaexploration.com
- Published in Mining, News Home, Puma Exploration
Puma Acquires the Red Brook Project in Northern New Brunswick
Puma Acquires the Red Brook Project in Northern New Brunswick
– Momentum Public Relations –
Press Release: January 19, 2016
Puma Exploration (TSX VENTURE:PUM)(SSE:PUMA) has signed an option to acquire a 500 hectares project containing a newly discovered high grade Zinc showing. Puma’s new “Red Brook” project has only been prospected and never drill tested.
Red Brook option 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.
Table 1. Grab Samples Collected at Red Brook Project
ZINC
Sample | Zn | Au | Cu | Ag |
# | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | g/t | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | g/t |
43157 | 7,1 | 0,01 | 0,15 | 1,7 |
43158 | 13,1 | 0,02 | 0,27 | 2,5 |
43159 | 7,9 | 0,01 | 0,23 | 2,4 |
43160 | 8,9 | 0,01 | 0,26 | 2,5 |
43161 | 13,3 | 0,01 | 0,19 | 2,7 |
43162 | 7,7 | 0,06 | 0,24 | 2,1 |
43163 | 7,3 | 0,01 | 0,19 | 1,8 |
GOLD-COPPER
Sample | Au | Cu | Ag |
# | g/t | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | g/t |
43152 | 0,57 | 0,22 | 2,1 |
44765 | 0,24 | 0,40 | 1,7 |
44767 | 0,05 | 0,70 | 2,2 |
44770 | 0,36 | 0,51 | 1,9 |
44772 | 0,24 | 0,12 | 0,8 |
44779 | 0,82 | 0,28 | 1,3 |
44780 | 1,38 | 0,53 | 2,1 |
44781 | 0,32 | 0,45 | 2,2 |
44782 | 0,55 | 0,38 | 1,8 |
During the field due diligence for the acquisition of the Red Brook project, Puma conducted a one-day reconnaissance trenching program to investigate the newly high grade zone. Three different areas were stripped on the high grade massive sulphide zones and more rock samples were collected. The results of the samples collected will be released shortly.
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 will be used to plan the 2016 summer program.
Red Brook Project
The Red Brook project comprises 23 claims totaling 500 hectares located 20 km west of Puma’s Benjamin Project and 50 km west of Nicholas-Denys Project.
Option Agreement
The option agreement covers the Red Brook Project (Claim Block 7221) located in Northern New-Brunswick. All the claims are in good standing until August 2016. Puma is obligated to keep the claims in good standing.
Puma will acquire a 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest in the Red Brook claims by:
- $10,000 at the signing of the agreement and issue 50,000 shares,
- $15,000 cash payment and issue 100,000 shares on or before the 1st anniversary,
- $20,000 cash payment and issue 100,000 shares on or before the 2nd anniversary,
- $25,000 cash payment and issue 150,000 shares on or before the 3rd anniversary,
- $55,000 cash payment on or before the 4rd anniversary,
And by performing the following the work commitment:
- $50,000 on or before the 1st anniversary,
- $150,000 on or before the 2nd anniversary,
- $200,000 on or before the 3rd anniversary,
A net smelter return (NSR) of 3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} for all other minerals. Puma keeps the right to purchase 2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} NSRs for $2,000,000 and the vendor keep 1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}.
Also, Puma Exploration decided to not proceed with the second tranche of the private placement announced on December 11th, 2015.
About Puma Exploration
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. Its principal projects are located in the famous Bathurst Mining Camp area. Puma’s Strategic Vision is to be the leading exploration company and resource developer in Northern New Brunswick. The Company’s major assets are the Nicholas-Denys Project and Turgeon Copper Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba. Puma is now more focused on its exploration projects in New Brunswick, Canada.
Learn more by clicking here: www.pumaexploration.com
- Published in Mining, News Home, Puma Exploration
Puma Exploration Announces the Closing of Private Placement Financing for $219,000
Puma Exploration Announces the Closing of Private Placement Financing for $219,000
– Momentum Public Relations –
Press Release: December 29, 2015
Puma Exploration (TSX VENTURE:PUM)(SSE:PUMA) is pleased to announce the closing of a non-brokered private placement financing of flow-through units with qualified investors. The Company issued 4,380,000 units at an issue price of $0.05 per flow-through units for gross proceeds of $219,000. The flow-through units comprise one flow-through common share and one-half of one common share purchase warrants. Each full warrant gives its holder the right to purchase one common share at a price of $0.10 per share until December 29, 2017.
In connection with this Private Placement, the Company has paid cash finder’s fees in an amount of $16,900 and issued 338,000 finder’s warrants will entitle holder to acquire one additional common share of Puma at a price of $0.05 for 24 months.
All securities issued to purchaser and finder 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 Manitoba.
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 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.
Learn more by clicking here: www.pumaexploration.com
- Published in Mining, News Home, Puma Exploration