- Hole WB23-125 returned 50.85 m of 1.05 g/t gold.
- Gold mineralization extends over 90 m from surface in a series of stacked high-grade quartz veins.
- All 11 holes intersected the targeted quartz veins, with assay results returning from anomalous gold (0.10 g/t) to 42.60 g/t.
- Gold was intercepted at depth in areas never drilled before.
- Results confirm the continuity of gold mineralization at the
Lynx Gold Zone . - Assay results for 13 additional holes (2,200 m), including 47 samples containing VG are still pending
All 11 holes intersected the targeted quartz veins, with assay results returning anomalous gold (0.1 g/t) to 42.60 g/t. Results indicate substantial continuity and depth extension of the gold mineralization at the
Puma’s President and CEO
What’s most impressive is we intersected 15 veins, and they all contributed gold, regardless of whether they contained VG. That’s significant because it highlights the continuity of mineralization at Lynx and the potential for a large mineable system that remains open along strike and depth. Assay results for the remaining holes drilled deeper that returned numerous VG specks should be in soon. We expect they will extend the width and depth of the gold chutes and continue to build volume at Lynx.”
Figure 1: Cross-section of
Phase 1 drilling focused on the Lynx and Moose areas of the LGZ (Figure 2). It was designed to 1) confirm and extend high-grade gold mineralization at depth and along strike; 2) target, along the favourable contact, specific veins previously mapped at the surface with different drilling orientations to better define the veins’ geometry and update the Company’s structural model. The program expanded from fifteen (15) to twenty-four (24) holes as Puma successfully intercepted the depth extensions of the high-grade shoots defined by previous drilling programs and intersected at depth along the newly identified orientation, the bonanza-grade quartz veins sampled at surface.
Most of the holes drilled show pervasive sericitization, but visible gold and associated potential bonanza-grade veins appear to be linked to the presence of carbonate alteration (dolomite) and Py-Cpy-Ga-Sp sulphide assemblages that occur as disseminated massive sulphides or as semi-massive veinlets within the quartz veins.
Figure 2: Drillhole location at the
Table 1. Assay results of 2023 drilling
DDH # | From (m) | To (m) | Length (m) | Au (g/t) |
WB23-123 | 7.60 | 8.00 | 0.40 | 1.03 |
WB23-125 | 2.90 | 93.55 | 90.65 | 0.70 |
Incl. | 42.05 | 92.90 | 50.85 | 1.05 |
Incl. | 66.25 | 92.90 | 26.65 | 1.70 |
Incl. | 75.40 | 92.90 | 17.50 | 2.32 |
Incl. | 78.65 | 92.90 | 14.25 | 2.67 |
and | 75.40 | 79.90 | 4.50 | 6.46 |
Individual samples | ||||
2.90 | 3.95 | 1.05 | 4.60 | |
11.00 | 11.30 | 0.30 | 9.87 | |
37.30 | 37.60 | 0.30 | 4.30 | |
42.05 | 42.40 | 0.35 | 2.85 | |
55.50 | 55.90 | 0.40 | 16.60 | |
66.25 | 66.60 | 0.35 | 13.30 | |
75.40 | 75.80 | 0.40 | 4.45 | |
76.05 | 76.25 | 0.20 | 1.71 | |
78.65 | 79.50 | 0.85 | 11.20 | |
79.50 | 79.90 | 0.40 | 42.60 | |
87.15 | 87.45 | 0.30 | 3.67 | |
88.00 | 88.40 | 0.40 | 11.05 | |
90.45 | 90.80 | 0.35 | 2.44 | |
91.75 | 92.35 | 0.60 | 5.32 | |
92.35 | 92.90 | 0.55 | 1.46 | |
WB23-127 | 85.90 | 86.40 | 0.50 | 1.50 |
WB23-128 | 95.15 | 95.65 | 0.50 | 16.10 |
WB23-129 | 42.90 | 53.00 | 10.10 | 3.30 |
Incl. | 45.25 | 48.45 | 3.20 | 10.36 |
Incl. | 48.07 | 48.42 | 0.35 | 29.20 |
WB23-131 | 46.25 | 65.60 | 19.35 | 0.54 |
Incl. | 47.00 | 48.05 | 1.05 | 1.06 |
and | 53.80 | 59.75 | 5.95 | 1.39 |
Incl. | 57.60 | 58.10 | 0.50 | 12.35 |
WB23-132 | 85.50 | 89.65 | 4.15 | 3.18 |
Incl. | 86.15 | 89.07 | 2.92 | 4.43 |
Incl. | 86.15 | 86.70 | 0.55 | 15.70 |
and | 87.64 | 88.56 | 0.92 | 4.04 |
*Interval widths reported; true widths of the system are not yet known.
Table 2. Coordinates of drill holes
DDH # | Easting (m)* | Northing (m)* | Elevation (m) | Azimuth (°) | Dip (°) | Length (m) |
WB23-122 | 660246 | 5259235 | 386 | 335 | -45 | 107.0 |
WB23-123 | 660256 | 5259214 | 386 | 335 | -65 | 83.0 |
WB23-124 | 660213 | 5259379 | 392 | 155 | -80 | 122.0 |
WB23-125 | 660263 | 5259293 | 386 | 330 | -45 | 170.0 |
WB23-126 | 660242 | 5259412 | 389 | 155 | -65 | 80.0 |
WB23-127 | 660237 | 5259421 | 389 | 155 | -75 | 134.0 |
WB23-128 | 660236 | 5259382 | 389 | 155 | -85 | 116.0 |
WB23-129 | 660263 | 5259417 | 389 | 155 | -65 | 65.0 |
WB23-130 | 660207 | 5259347 | 388 | 155 | -80 | 113.2 |
WB23-131 | 660227 | 5259340 | 389 | 165 | -65 | 89.0 |
WB23-132 | 660303 | 5259443 | 388 | 230 | -45 | 196.0 |
Upcoming Gold Investor Events
Puma invites shareholders and interested parties to schedule a meeting at the upcoming conferences to discuss the Company's recent news and proposed developments. Click on the links to register.
- 121
Mining Investment .New York. NY October 23-24 . 2023
- EMP New Brunswick.
Fredericton. NB Oct. 29 -31 . 2023Marcel Robillard will present onOct. 30 at3:30 p.m.
- Explor 2023.
Montreal. QC Oct 30 –Nov. 2 . 2023Marcel Robillard will present onNov. 1 at3:40 p.m. Click here for details.
Precious Metals Summit .Zurich . CH
Nov.13-15. 2023Marcel Robillard will present onNov. 14 at12:15 p.m. Click here for details.
- 121
Mining Investment London. UK November 20-21 . 2023
About the
Puma's flagship
Since 2021. and with less than
Figure 3. Main gold showings and occurrences at the
Qualified Person
The technical information of this release was reviewed and approved by
On-Site Quality Assurance/Quality Control (“QA/QC”) Measures
Drill core and surface samples are bagged, sealed and sent to
About
The Company is also committed to deploying its DEAR strategy (Development. Exploration. Acquisition. and Royalties) to generate maximum value for shareholders with low share dilution.
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Neither the
Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve several known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of Puma 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 undertakes no obligation to publicly update or revise any forward-looking statements. The quarterly and annual reports and the documents submitted to the securities administration describe these risks and uncertainties.
Figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/4bdf3ae9-540d-4b3c-8c14-a211ab34b6e0
https://www.globenewswire.com/NewsRoom/AttachmentNg/d59bdcea-36e1-4bd1-8698-2302f47d7b0d
https://www.globenewswire.com/NewsRoom/AttachmentNg/b402a095-94e7-41bc-9697-d091434523c7
Figure 1: Cross-section of Lynx Gold Area with today’s reported results
Cross-section of Lynx Gold Area with today’s reported results
Figure 2: Drillhole location at the Lynx Gold Zone
Drillhole location at the Lynx Gold Zone
Figure 3: Main gold showings and occurrences at the Williams Brook Gold Project
Main gold showings and occurrences at the Williams Brook Gold Project
2023 GlobeNewswire, Inc., source