Savant Explorations Ltd. Closes Oversubscribed $600,000 Financing; Grant of Stock Options
Savant Explorations Ltd. Closes Oversubscribed $600,000 Financing; Grant of Stock Options
Momentum Public Relations
Press Release: June 26, 2017
Canada NewsWire
VANCOUVER, June 26, 2017
VANCOUVER, June 26, 2017 /CNW/ – Savant Explorations Ltd. (TSXV: SVT; US OTC: SVATF) (the “Company“) announces the Company has closed its non-brokered private placement of $600,000 at a price of $0.05 per common share which increased from the previously announced $500,000 financing (see news release dated June 5, 2017). Officers and directors purchased 23.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the financing. All common shares issued are subject to a hold period expiring four months and one day from closing in accordance with applicable securities laws. A finder’s fee of $7,500 was paid in connection with the financing. The proceeds will be used to advance the Company’s wholly-owned Blue Moon zinc project including initiating the baseline work for permitting, initial engineering work, obtaining permits for the anticipated drill program and general working capital.
The Company also granted 3,750,000 stock options to officers, directors and technical advisors, each option being exercisable for a five year term at a price of $0.07 per common share. All options vest over eighteen months with a third vesting every six months and are governed by the terms and conditions of the Company’s stock option plan.
About Savant
The Company is focused on the wholly-owned advanced stage Blue Moon zinc project. The Blue Moon project has a current resource estimate of 2.62 million tons with a grade of 6.01{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc in the Indicated category and 2.68 million tons with a grade of 5.98{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc in the Inferred category plus significant values of copper, silver and gold. The resource is open at depth and along strike and historical metallurgical testing indicates favourable recoveries. A NI 43-101 report detailing the resource and summarizing metallurgical recoveries is available on the company’s website (www.savantexplorations.com) and filed on SEDAR on February 21, 2008. The Company plans to advance the project to feasibility and permitting.
Qualified Persons
Jack McClintock, P. Eng, a Director of the Company, is a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts that address access to capital, regulatory approvals, exploration and development drilling, exploitation and development activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedar.com
SOURCE Savant Explorations Ltd.
View original content: https://www.newswire.ca/en/releases/archive/June2017/26/c1982.html
Patrick McGrath, CEO, 1-832-499-6009, pmcgrath@bluemoonmining.comCopyright CNW Group 2017
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
Savant Explorations Ltd. Announces Election of Directors, Proposed Name Change to Blue Moon Zinc Corp.
Savant Explorations Ltd. Announces Election of Directors, Proposed Name Change to Blue Moon Zinc Corp.
Momentum Public Relations
Press Release: June 21, 2017
VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 21, 2017) – Savant Explorations Ltd. (TSX VENTURE:SVT)(OTC:SVATF) (the “Company“) is pleased to announce that Patrick McGrath, Douglas Urch and Jack McClintock were elected as directors of the Company at the annual general and special meeting of the shareholders (the “Shareholders Meeting“) held Thursday, June 15, 2017 in Vancouver, B.C.. The shareholders also approved a special resolution adopting new Articles for the Company at the Shareholders Meeting. The Company’s new Articles are available for viewing under the Company’s profile on www.sedar.com.
The Company also plans to change its name to “Blue Moon Zinc Corp.” from “Savant Explorations Ltd.” to better reflect the Company’s focus on the Blue Moon zinc project. The name change and symbol change will be announced on receipt of regulatory approval.
“We felt this name change was an important first step as we focus our attention towards advancing our Blue Moon Zinc Project” says Patrick McGrath, CEO of Savant Explorations.
About Savant
The Company is focused on the wholly-owned advanced stage Blue Moon Zinc project. The Blue Moon project has a current resource estimate of 2.62 million tons with a grade of 6.01{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc in the Indicated category and 2.68 million tons with a grade of 5.98{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc in the Inferred category plus significant values of copper, silver and gold. The resource is open at depth and along strike and historical metallurgical testing indicates favourable recoveries. A NI 43-101 report detailing the resource and summarizing metallurgical recoveries is available on the company’s website (www.savantexplorations.com) and filed on SEDAR on February 21, 2008. The Company plans to advance the project to feasibility and permitting.
Qualified Persons
Jack McClintock, P. Eng, a Director of the Company, is a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts that address access to capital, regulatory approvals, exploration and development drilling, exploitation and development activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedar.com
Savant Explorations Ltd.
Patrick McGrath
CEO
1-832-499-6009
pmcgrath@bluemoonmining.com
www.savantexplorations.com
Puma Exploration Announces $1,000,000 Private Placement
Puma Exploration Announces $1,000,000 Private Placement
Momentum Public Relations
Press Release: June 6, 2017
RIMOUSKI, QUEBEC–(Marketwired – June 6, 2017) – Puma Exploration Inc. (TSX VENTURE:PUM)(SSE:PUMA) (the “Company” or “Puma”) announces that it has arranged a non-brokered private placement of 12,500,000 flow through units (“FT Units”) at a price of $0.08 per Unit for aggregate gross proceeds of $1,000,000 (the “FT Offering”). Each FT Unit will be comprised of one flow through common share (“FT Share”) and one half of one non-flow through Share purchase warrant of the Company (“Warrant”). Each whole Warrant will entitle the Subscriber to purchase one Share for a 24 month period after the Closing Date at an exercise price of $0.15 per share. Flow through proceeds raised will be used towards exploration on the Company’s Murray Brook property located in the Bathurst Mining Camp in New Brunswick.
The Company may, in its sole discretion, pay a finders’ fee to agents of the Company consisting of: (i) a cash fee in an amount of up to 8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the proceeds raised by such finder as part of this Offering, (ii) a number of finder’s warrants entitling the holder thereof to purchase that number of Shares of the Company (“Finder’s Warrant”) that is equal to up to 8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the number of units placed through the finder as part of this Offering. Each Finder’s Warrant will entitle the holder to purchase one Share for a period of 24 months from the closing date at an exercise price of $0.08 per Finder’s Warrant.
On May 04, 2017 Puma closed a first and final tranche of a private placement with qualified investors, employees, a consultant and existing security holders for gross proceeds of $140,000 and issued two million units at the price of seven cents 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 15 cents per share until May 4th, 2017.
In connection with the offering, the company paid cash finders’ fees of $2,240 and issued 32,000 finders’ warrants that entitle the holder to acquire one additional common share of Puma at a price of seven cents 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.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
www.explorationpuma.com
- Published in Mining, News Home, Puma Exploration
Savant Explorations Ltd. Announces $500,000 Financing
Savant Explorations Ltd. Announces $500,000 Financing
Momentum Public Relations
Press Release: June 5, 2017
VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 5, 2017) – Savant Explorations Ltd. (TSX VENTURE:SVT) (the “Company“) announces the Company has arranged a private placement of $500,000 at a price of $0.05 per common share, subject to regulatory approval. Certain insiders have agreed to participate and the common shares to be issued pursuant to this private placement will be subject to a hold period expiring four months and one day from closing. The proceeds will be used to advance the Company’s wholly-owned Blue Moon zinc project including initiating the baseline work for permitting, initial engineering work, obtaining permits for the anticipated drill program and general working capital.
About Savant
The Company is focused on the wholly-owned advanced stage Blue Moon Zinc project. The Blue Moon project has a current resource estimate of 2.62 million tons with a grade of 6.01{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc in the Indicated category and 2.68 million tons with a grade of 5.98{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc in the Inferred category plus significant values of copper, silver and gold. Historical metallurgical testing indicates favourable recoveries of zinc and other metals. A NI 43-101 report detailing the resource and summarizing metallurgical recoveries is available on the company’s website (www.savantexplorations.com) and filed on SEDAR on February 21, 2008. The Company plans to advance the project to feasibility and permitting.
Qualified Persons
Jack McClintock, P. Eng, a Director of the Company, is a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts that address access to capital, regulatory approvals, exploration and development drilling, exploitation and development activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedar.com.
Savant Explorations Ltd.
Patrick McGrath
CEO
1-832-499-6009
pmcgrath@bluemoonmining.com
www.savantexplorations.com
Reviving the Slocan Mining Camp
Reviving the Slocan Mining Camp
Momentum Public Relations
Press Release: May 26, 2017
Vancouver, Canada / TheNewswire / May 26, 2017 – (TSX.V: KS) Further to the News Releases dated Oct 12, 2016 and March 3, 2017: Klondike Silver Corp. has one of the most unique silver-lead-zinc projects in Canada. Klondike’s Slocan Mining Camp is a 100 square kilometre brownfields project located in southeastern British Columbia, a safe and stable jurisdiction. The project has an active Mine Permit, a 100 ton per day mill and a licenced tailings pond facility. The mill has power, water and an all-weather system of roads and highways as well as a large educated population nearby, to draw on. The mill is 1.5 hours from Teck Corp.’s Trail lead-zinc smelter and one hour from the main airport and rail system in the area. Once additional economic mineralization is identified, production can start almost immediately. Underground drilling necessary to identify additional economic mineralization is scheduled to commence in the fall of 2017.
David Makepeace, Technical Advisory Board Member provides 3D Model update:
The construction of the Main Lode 3D model is progressing. The model now incorporates eight past producing mines, with their respective ore bodies, some faults, topography with surface features, soil geochemical data and selective surface and underground diamond drill holes. More data is being input regularly from the volume of historical data available. Presently, the data for the model is based on the main local mine grid which is in imperial measurements. The model will be transformed into UTM (metric) coordinates once the LIDAR survey is complete the two will be meshed together.
Eagle Mapping Ltd. is currently contracted to commence the LIDAR SURVEY once the Slocan Mining Camp is snow-free.
About Klondike Silver
Klondike Silver’s Silver Lead Zinc land package is over 100 km2 – the largest land package in the Slocan Mining Camp (Southeast British Columbia – 138 km North of Teck’s Lead Zinc smelter (Trail BC)). Based on the British Columbia MINFILE mineral database, sixty eight (68) of the one hundred and seventy three (173) past producing Silver Lead Zinc mines in the Slocan Silver Camp are located in the Klondike Silver land package. Klondike Silver has created the first real opportunity to invest in and properly explore a sizeable portion of one of the most historic mining camps in British Columbia. Klondike likes to think of the Slocan as the last best under explored silver camp in Canada.
For additional information please visit the company website www.klondikesilver.com.
CONTACT INFORMATION
Corporate Inquiries:
Dale Dobson: (604) 682-2928
Email: dale.dobson@klondikesilver.com
On Behalf of the Board of Directors
Klondike Silver Corp.
“Thomas Kennedy”
Thomas Kennedy, B.Comm., J.D.
CEO, Director
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Klondike Silver Corp. which may cause actual results, performance or achievements of Klondike Silver Corp. to be materially different from the results, performance or expectation implied by these forward looking statements. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.
Neither the 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.
Copyright (c) 2017 TheNewswire – All rights reserved.
- Published in Klondike Silver Corp., Mining, News Home
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 Exploration Inc. (PUM:tsxv) provides update on Murray Brook Acquisition
Puma Exploration Inc. provides update on Murray Brook Acquisition
Momentum Public Relations
Press Release: May 1, 2017
Puma Exploration Inc. (TSX VENTURE:PUM)(SSE:PUMA) (the “Company” or “PUMA”) is pleased to report that by mutual agreement, El Nino Ventures Inc. (“ELN”) and PUMA have agreed to modify the original closing terms of the Asset Purchase Agreement. Thus, the initial payment has been modified to a cash payment of $300,000 of which $200,000 have already been delivered to ELN and the issuance of 5,000,000 Puma’s shares at the deemed value of $0.07 at the closing date of the modified Asset Purchase Agreement.
The second due payment of $400,000, postponed to April 30th, 2018, has been increased to $500,000 and will be added to the existing third payment of $1,000,000 due for April 30th, 2018 for a total amount of $1.5M. However, in the event that Puma raises $1M during the first 6 months from the signing of the modified Asset Purchase Agreement (up to October 30th, 2017), then the amount and the schedule of second payment will remain unchanged and Puma will pay $400,000 on or before October 30th, 2017.
Except as specifically modified pursuant to the present release, no other changes or modifications to the Asset Purchase Agreement are intended or implied or have otherwise been agreed between the Parties, and in all other respects the Asset Purchase Agreement is hereby specifically ratified, restated and confirmed by the Parties. The present modifications have to be reviewed by the usual regulatory agencies and the closing is expected shortly.
Murray Brook Property
On February 24th, 2017, Puma Exploration closed the Asset Purchase Agreement with Votorantim Metals Canada Inc. (“VMC”) and acquired approximately 67.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} beneficial interest in the Murray Brook Property which comprises the zinc-lead-copper-silver volcanogenic massive sulphide (“VMS”) Murray Brook deposit as well as the adjacent 245 Camel Back claims.
Puma has launched its planned preliminary economic assessment (PEA) on the high-grade zinc Murray Brook deposit. The Company is currently looking at different scenarios and evaluating quotes to initiate additional metallurgical work on the high grade zinc zone of the deposit in order to identify methods to improve lead, gold and silver recoveries. Also, Puma’s geologists are seeking to locate first priority targets on the contiguous Camel Back claim portion of the Property in an effort to identify the potential to expand the resource inventory already defined at the Murray Brook deposit. Previous work by VMC identified four (4) potential anomaly targets between the Murray Brook deposit and the nearby Caribou Mine site.
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 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.
- Published in Mining, 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