Puma Exploration (TSXV:PUMA) Reports Gold Mineralization Extension Beyond 100 Meters at Williams Brook Gold Project

Source: Puma Exploration

Puma Exploration (TSXV:PUMA) has reported preliminary findings from its 2023 drilling program at the Williams Brook Gold Project in Northern New Brunswick, Atlantic Canada, demonstrating that gold mineralization extends beyond 100 meters depth. The exploration, entirely owned by Puma, took place at the Lynx Gold Zone, where 24 holes amounting to 3,475 meters were drilled.

The drilling exposed more than 100 specks of visible gold in 37 different locations, with 16 occurrences situated between 100 meters and 211 meters downhole depth. The gold mineralization appears to be constrained at the favourable contact between rhyolite and sediment, and potential high-grade veins are often found in association with carbonate alteration (dolomite) and sulphides.

Puma Exploration President and CEO Marcel Robillard commented in a press release: “We are extremely pleased with this first phase of our 2023 drilling program and what we see in the core. There’s tremendous validation of our approach and model when we can hit VG successfully, and multiple instances of it is remarkable. The mineralization, mineralogy, alteration etc., all indicate that we are dealing with a large hydrothermal system that extends laterally and at depth. We are confident that we’ll substantially add to the gold inventory at the Lynx Gold Zone as we continue to advance our 2023 program and beyond.”

Source: Puma Exploration

This initial phase of drilling was conducted with a specific focus on the Lynx and Moose areas of the LGZ and was purposed to confirm and expand the known high-grade gold mineralization both at depth and along strike. An additional objective was to target veins previously mapped at the surface using different drilling orientations to improve the understanding of the veins’ geometry and update the structural model.

The results from the Phase 1 drilling not only confirmed the extension of the mineralization beyond 150 meters depth but also shed light on the alteration observed in the core. As drilling reached 100 meters vertical depth, the supergene alteration transitioned to fresh sulphides. Although many holes showed pervasive sericitization, the presence of visible gold and associated potential high-grade veins was linked to the existence of carbonate alteration and specific sulphide assemblages. These sulphides were also found 255 meters downhole in one of the drilling holes.

Looking ahead at the 2023 Drilling Program, the fully-funded and permitted progress has three primary objectives: to extend the continuity of the LGZ at depth and along strike, to validate and refine the existing geological model, and to corroborate Puma’s current geophysical pathfinder tool. Initially planned for 15 holes and approximately 2,000 meters, Phase 1 drilling was expanded to 24 holes and 3,500 meters after the Company successfully intercepted the depth extensions of the high-grade shoots identified by previous programs. Assays from the Phase 1 drilling are still pending, and the results will be announced upon receipt.

To advance exploration, Puma is preparing to conduct surface exploration work to locate the favourable rhyolite sediment contact along the strike extension of the Lynx Gold Zone. This work is in preparation for the Company’s forthcoming Phase 2 drilling program. The discovery has marked a significant development in understanding the Williams Brook Gold Project’s potential and demonstrates Puma’s commitment to thorough exploration and evaluation.

Highlights from the results are as follows:

Table 1. Visible gold occurrences in Phase 1 2023 drilling

DDH # Downhole Depth (m) Vein type Host rock Associated sulphides 
WB23-129 45.4 white qtz rhyolite ga
WB23-129 48.4 white qtz Sed-lim/GS in rhyolite
WB23-132 87.9 white qtz sed-lim ga
WB23-133 32.5 fracture in GS Sed altered-lim
WB23-133 49.2 white qtz rhyolite
WB23-133 50.3 white qtz Sed altered at contact with rhyolite sph
WB23-133 60.7 white qtz Sed altered
WB23-136 37.6 milky white qtz brec with GS fragments rhy-lim/Sed altered-lim
WB23-137 3.0 white qtz sed-lim
WB23-137 26.7 white qtz brec. With rhy fragments rhyolite-lim
WB23-137 33.3 stw QV 1cm Rhy-lim
WB23-137 33.6 stw QV 1cm Rhy-lim
WB23-138 100.4 white qtz rhyolite ga
WB23-138 109.2 white qtz rhyolite ga-cpy-sph
WB23-138 138.7 white qtz rhyolite ga-sph-lim
WB23-138 153.8 white qtz rhyolite ga-sph-lim-ma-cpy
WB23-138 175.9 white qtz rhyolite sph-ga
WB23-139 90.5 white qtz rhyolite cpy-ga-sph
WB23-139 139.9 white qtz rhyolite cpy-ga-sph
WB23-139 149.8 white qtz rhyolite cpy-ga-sph
WB23-139 149.9 white qtz rhyolite cpy-ga-sph
WB23-139 150.0 white qtz rhyolite cpy-ga-sph
WB23-139 150.1 white qtz rhyolite cpy-ga-sph
WB23-139 151.9 white qtz rhyolite cpy-ga-sph
WB23-139 211.2 white qtz rhyolite ga-sph
WB23-140 129.8 white qtz rhyolite ga-cpy-py-sph
WB23-142 60.7 Rusted qtz, stw rhyolite-lim
WB23-142 64.0 white qtz rhyolite-lim/sediment altered ga-cpy-ma
WB23-142 82.0 white qtz rhyolite ga
WB23-142 136.3 white qtz, stw rhyolite ga-cpy-sph
WB23-144 161.7 white qtz rhyolite / sediment altered ga-sph-cpy
WB23-145 80.6 white qtz rusted rhyolite-lim ga-ma
WB23-145 81.8 white qtz rhyolite-lim
WB23-145 81.8 white qtz rhyolite-lim ga-cpy
WB23-145 82.6 white qtz rhyolite-lim ga-cpy-sph
WB23-145 82.7 white qtz rhyolite-lim ga-cpy-sph
WB23-145 174.4 white qtz rhyolite ga
Source: Puma Exploration

Table 2. Coordinates and depth of drilled holes

DDH # Easting * Northing* Azimuth (°) Dip (°) Length (m)
WB23-122 660246 5259235 335 -45 107.0
WB23-123 660256 5259214 335 -65 83.0
WB23-124 660213 5259379 155 -80 122.0
WB23-125 660263 5259293 330 -45 170.0
WB23-126 660242 5259412 155 -65 80.0
WB23-127 660237 5259421 155 -75 134.0
WB23-128 660236 5259382 155 -85 116.0
WB23-129 660263 5259417 155 -65 65.0
WB23-130 660207 5259347 155 -80 113.2
WB23-131 660227 5259340 165 -65 89.0
WB23-132 660303 5259443 230 -45 196.0
WB23-133 660336 5259560 202 -45 107.3
WB23-134 660312 5259564 155 -65 122.0
WB23-135 660335 5259521 335 -55 100.0
WB23-136 660350 5259505 295 -55 92.0
WB23-137 660371 5259519 295 -50 87.0
WB23-138 660362 5259507 260 -45 257.0
WB23-139 660361 5259481 260 -45 230.0
WB23-140 660343 5259458 260 -45 218.0
WB23-141 660343 5259458 330 -45 178.0
WB23-142 660287 5259359 338 -46 236.0
WB23-143 660351 5259599 202 -45 101.0
WB23-144 660388 5259550 260 -46 197.0
WB23-145 660335 5259430 260 -46 275.0
* Projection: UTM Nad83 zone 19 Total: 3475.5

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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