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.
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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
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
Iconic’s (ICM: tsxv) Surface Sampling Finds High-Grade Gold,at Hercules Project, Nevada
Iconic samples 3 m of 11 g/t Au, 161 g/t Ag at Hercules
Iconic Minerals Ltd. (ICM: tsxv) has completed initial outcrop rock chip channel sampling at its Hercules project, located approximately 17 kilometres (10.6 miles) east-southeast of the Comstock district in Lyon county, Nevada. Partial geochemical results have been received for these samples. Results are most complete for the Hercules target. While the widespread intercepts of gold/silver grades consistent with gold/silver heap leaching in Nevada were expected, the discovery of high-grade gold/silver intercepts was unexpected. Three plus-10-gram-per-tonne-gold assays (over 0.3 ounce per ton) were found, including 3.35 metres (11 feet) averaging 11.3 grams per tonne (0.33 ounce per ton) gold and 161 grams per tonne (4.7 ounces per ton) silver.
Wherever altered outcrops occur, channel rock chip sampling was done every 60 metres (200 feet) over the 2.7-kilometre-long-and-one-kilometre-wide project area. A map showing the extent of the alteration and sample line locations is available on the company’s website. Five hundred twenty-eight channel samples have been taken to date. The Hercules target results include 16 sample lines over a strike length of 760 metres (2,500 feet) and width of 150 metres (500 feet).
The Hercules target results show extensive outcropping heap-leach-grade gold/silver values (greater than equals 0.005 ounce per ton (0.17 g/t) gold equivalent) that will have a minimal stripping ratio if mined. The values will be used in a new National Instrument 43-101 resource study to be completed after a coming drilling program.
The outcropping alteration was surveyed, logged and chip channel sampled, using 0.5-metre to 3.0-metre (1.5-foot to 10-foot) sample lengths. To ensure quality control, blanks and standards were added to each sample line before they were securely shipped to ALS Chemex, an ISO-accredited geochemical laboratory.
As further results are received they will be released as soon as possible. Initial results for the other three targets included in the project area (West cliffs, Loaves and Northeast) are expected within three weeks. Several lines will be extended using an excavator. Surface geologic mapping, and mapping and sampling of underground workings at the Hercules target, are continuing.
Hercules is a Comstock-type target, with strong potential for bulk-minable, heap-leachable gold/silver mineralization (over 0.2 g/t Au) at surface, as well as potential high grade (over 10 g/t Au, to bonanza grade (over 68 g/t Au)) at depth. Analogous to Comstock, the level of erosion at Hercules is slightly less than at Comstock, as shown by a higher gold/silver ratio at Hercules. Therefore, any potential of high-grade veins can be expected at greater depths than at Comstock.
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Iconic Minerals (ICM:TSXV) begins sampling at Hercules Project
ALTERATION MAPPING COMPLETED AND SURFACE GOLD/SILVER SAMPLING INITIATED AT HERCULES PROJECT, NEVADA
2015-03-25 – News Release – Iconic Minerals Ltd. (ICM:TSXV) has commenced rock chip channel and trench geochemical sampling at its Hercules project, located approximately 17 kilometres, east-southeast of the Comstock district in Lyon county, Nevada.
Iconic’s current exploration program included completion of alteration mapping, which found extensive outcrops of potential gold/silver mineralization. All surface samples were collected and logged in accordance with NI 43-101 guidelines, and could be used to define a new resource at Hercules. Environmental permits were obtained for the trenching.
Data collected from mapping of the quartz-calcite-adularia-sulfide alteration has defined an open-ended target area. 2.7 km (1.7 miles) long and 1 km (0.6 miles) wide, with four veins within the target area ranging between 200-400 metres (650-1,300 feet) in width.
The outcropping alteration currently being surveyed is logged and chip channel sampled, using 0.7-3.0 metre (2-10 feet) sample lengths. Trenches will be sampled in a similar manner. To ensure quality control, blanks and standards are added to each sample line before they are securely shipped to an ISO accredited geochemical laboratory. Sampling is expected to take two to three months for completion, and will be used along with previous drill results to target a planned and permitted drilling program (refer to Iconic’s January 7, 2015 News Release).
Hercules is a Comstock-type target, with strong potential for bulk minable, heap leachable gold/silver mineralization (+0.2 g/t Au) at surface, as well as potential high-grade (+10 g/t Au, to bonanza-grade (+68 g/t Au) at depth. Analogous to Comstock, the level of erosion at Hercules is slightly less than at Comstock as shown by a higher gold/silver ratio at Hercules. Therefore, any potential of high grade veins can be expected at greater depths than at Comstock.
Richard Kern, Certified Professional Geologist (#11494) and CEO of Iconic is the Qualified Person who has prepared and reviewed this press release in accordance with NI 43-101 reporting standards.
We seek Safe Harbor.
Geopolitical tensions placing pressure on gold and silver
The gold price looks set to post its second consecutive quarterly gain later today. It is currently hanging around its two-month high of $1,325.90. Silver is also ready to post its second-quarterly gain but has extended a drop in price.
Speaking of quarterly figures, asset in the SPDR Gold Trust have decreased this quarter, and have now fallen by…
The gold price looks set to post its second consecutive quarterly gain later today. It is currently hanging around its two-month high of $1,325.90. Silver is also ready to post its second-quarterly gain but has extended a drop in price.
Speaking of quarterly figures, asset in the SPDR Gold Trust have decreased this quarter, and have now fallen by 1.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} since the start of the year. Holdings currently stand at 785.02 tonnes this year.
Geopolitical tensions continue to place upward pressure on both the gold and silver price. The Iraq army have sent troops and vehicles to fight against the insurgents from the north of Iraq. In Ukraine there has been an outbreak of violence between pro-Russian separatists and Ukrainian forces.
The gold price posted a near-7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} gain in the first quarter of the year and looks to post a 2.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} gain this quarter.
I suspect we will see a quiet few days at the start of the week as Thursday sees the ECB meeting and then the U.S. jobs data on Friday.
Clearing statistics released by the LBMA on Friday shows that the net volume of gold and silver transferred between member accounts fell during the month of May, however the number of transfers was overall unchanged.
Year-on-year comparisons show that there has been a fall in the number of transfers compared to May last year, it was a similar story for silver transfers.
China’s gold imports from Hong Kong fell to their lowest since January, in May. Last month only 52.3 metric tons were imported, 20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} lower than the amount seen in April.
Getting out of the World Gold Council
In a blow for the World Gold Council, South African miners AngloGold Ashanti and Gold Fields will not renew their membership of the market-development organisation. ‘Members pay per ounce of metal produced and with all the cost-cutting we’ve seen, especially here at Gold Fields, we’ve had a look very carefully at our membership of all sorts of organisation around the world.’ said the GoldFields spokesman.
Shanghai spot gold
Chinese news sites are reporting that China may launch an international trading board in the fourth-quarter of the year in the Shanghai Free Trading zone. The move is part of the government’s desire to influence the international gold market. A spokesman for the new board said that it will adopt ‘Shanghai Gold,’ a spot gold trading mechanism.
South African platinum for sale
The Sunday Times reported yesterday that Anglo American Plc will sell some of its South African platinum mines, as part of its $4 billion asset sale plan. Platinum has climbed 0.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} an ounce and will also post a second-quarterly increase.
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- Published in Mining
Gold and silver stocks begin next leg higher
Yes you read that correctly. The miners have begun another leg higher because the evidence strongly supports the view that they have formed a higher low. Only time will tell for sure but the evidence is quite strong. It seems that every analyst was calling for a July low. I felt strongly that the miners would make their next low after…
Yes you read that correctly. The miners have begun another leg higher because the evidence strongly supports the view that they have formed a higher low. Only time will tell for sure but the evidence is quite strong. It seems that every analyst was calling for a July low. I felt strongly that the miners would make their next low after Gold(COMEX:GCN14) broke below $1,200. I was far more confident in the bullish case at the June 2013 and December 2013 bottoms. I was even skeptical after Tuesday’s upside explosion. However, the weight of the evidence today argues that the miners have made a higher low and are starting their next leg higher.
First let’s look at GDXJ, which is showing leadership. I want to highlight three bullish points. First, the volume has been huge. Weekly volume will be a record. Daily volume was near records the day before GDXJ bottomed (May 27) and the day it bottomed (May 28). After Monday it appeared the miners could head lower. Tuesday GDXJ gapped up and closed at the high of the day on huge volume. Wednesday’s volume dipped only slightly while Thursday’s volume was an all-time high! Strength was followed by strength. The second point is that Tuesday and Wednesday’s explosions came with the metals being up less than 1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in that entire period. The shares are showing excellent relative strength at a time when the metals are in a weak technical position. Third, note that GDXJ is set to close at a 12-week high. That is quite a bit of strength only two weeks after a low. The initial rebounds from the previous two lows were much weaker in size and intensity. GDXJ’s next resistance is $44. A weekly close above $44 marks a higher high.
Meanwhile, history argues that its likely that the bear in the miners is over. The current bear would be the third longest ever. The two longest bears were the longest because their price damage was mild until the tail end. It’s not impossible that the current bear could roll over to a final low. We thought that was possible until Wednesday. However, given the aforementioned strength in the sector, it seems highly unlikely.
The action in Silver(COMEX:SIN14) and the silver stocks also leads me to believe that the near term risk reward strongly favors the upside. We’ve been waiting for Silver to break below $18 because we believe it would mark a clear end to its bear market. Silver recently closed at an 11-month low and the same week closed Friday at $18.82, which marked a new weekly low for the bear market. Silver has since failed to decline further. The metal has started to rally and it could spark a short squeeze. Gross short positions reached a new all-time high in each of the past two weeks. Moreover, the chart below shows the positive divergence in the silver stocks. While Silver tested its June 2013 low, SIL and SILJ were trading well above their lows.
The weight of the evidence argues that precious metals shares and likely Silver have seen their low and are headed higher. GDXJ and Silver peaked more than three years ago. GDXJ declined 81{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} while Silver’s bear market was nearly its worst excluding its 1980 collapse. The outright strength in the stocks cannot be disputed. It was not a one day event. The stocks led the metals down and are now in position to lead the metals higher. With that said, the only fly in the ointment for me is Gold which peaked last, is technically weak and still carries some speculative interest. I would not be surprised to see it break lower before the entire sector moves aggressively higher. Regardless, our view is the stocks have formed a higher low and that pullbacks should be bought. They don’t ring a bell at the start of a new bull market and by nature analysts and pundits won’t be in agreement when it starts.
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- Published in Mining