RIMOUSKI, Québec, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the “Company” or “Puma”) is pleased to announce the results from its inaugural surface exploration and trenching program at the McKenzie Gold Project. The program uncovered a quartz vein, the RIM gold vein that yielded very high-grade gold samples with standout results of 601.33 g/t, 251.61 g/t, 110.62 g/t, 103.23 g/t, 103.44 g/t, 62.44 g/t, and 56.68 g/t gold*along 25 metres (Figure 1). *The reader is cautioned that grab samples are selective by nature and may not represent the true metal content of the mineralized zone.
Figure 1. Sampling of the RIM gold vein at the McKenzie Gold Project
Sampling of the RIM gold vein at the McKenzie Gold Project
Late in 2023, a trenching and sampling program conducted by Puma, three (3) kilometres south of the high-grade discovery reported today, returned gold values of 362 g/t, 267 g/t, 24.7 g/t, 9.47 g/t and 4.67 g/t gold* (see October 25, 2023, News Release). The gold veins sampled are similar to those found at the Lynx Gold Zone at the Williams Brook Gold Project, highlighting the potential of finding a second large gold system at McKenzie.
Figure 2. The main gold occurrences on the McKenzie Gold Project
The main gold occurrences on the McKenzie Gold Project
With the gold occurrences exhibiting remarkable similarities with the orogenic gold mineralization identified at Williams Brook, Puma is eager to deploy its proven low-cost exploration strategy to discover additional gold zones and extend the known ones at the McKenzie Gold Project. Previous owners have invested more than $1M on exploration work on the property, including airborne surveys, ground geophysics, soil geochemistry, but minimal drilling. Puma is analyzing the available data to prepare for an aggressive field program, including an inaugural drilling program in 2025.
About the McKenzie Gold Project
The McKenzie Gold Project, easily accessible by paved highway and gravel roads, is located only 7 km west of the Company’s flagship Williams Brook Project and 10 km East of St-Quentin, where the Company maintains its exploration office, core shack and other facilities. It straddles the McKenzie Fault, a prominent structural feature associated with numerous high-grade gold quartz veins, stockworks and breccias discovered by previous owners’ limited prospecting, trenching and sampling programs. These gold occurrences exhibit remarkable similarities with the orogenic gold mineralization identified on the Williams Brook Project recently optioned to Kinross Gold Corporation. This similarity and the high-grade gold findings at the RIM gold vein indicate the significant potential of the McKenzie Gold Project, which Puma is eager to explore further.
Qualified Person
The content of this press release was prepared by Dominique Gagné, P.Geo., VP Exploration and qualified persons as defined by NI 43-101, who supervised the preparation of the technical information that forms part of this news release.
On-Site Quality Assurance/Quality Control (“QA/QC”) Measures
Grab samples are bagged, sealed and sent to ALS CHEMEX in Moncton, New Brunswick, where each sample is crushed and pulped before being fire-assayed (Au-ICP21). The remaining coarse reject portions of the samples remain in storage for further work or verification as needed. As part of its QA/QC program, the Company inserts external gold standards (low to high grade) and blanks every 20 samples in addition to standards, blanks, and duplicates. All samples over 10 g/t gold or with abundant visible gold are analyzed with a gravity finish (Au-GRA22). Check assays are routinely performed for samples with visible gold to ascertain the gold content of the mineralization zone.
Upcoming Gold Investor Events
Puma invites shareholders and interested parties to stop by the booth, attend a presentation, or schedule a meeting at the upcoming conferences to discuss the Company's recent news and proposed developments:
Puma has accumulated an impressive portfolio of prospective gold landholdings strategically located close to roads and infrastructure in Northern New Brunswick - the Williams Brook Project and the new McKenzie Gold Project. Both are located near the Rocky Brook Millstream Fault (“RBMF”), a major regional structure formed during the Appalachian Orogeny and a significant control for gold deposition in the region. Puma’s work to date has focused on the Williams Brook property, but prospecting and surface exploration work on its other properties have confirmed their potential for significant gold mineralization.
About Puma Exploration
Puma Exploration is a Canadian-based mineral exploration company focused on finding and growing a pipeline of precious metals projects in New Brunswick, near Canada's Famous Bathurst Mining Camp. Puma has a long history in Northern New Brunswick, having worked on regional projects for over 15 years. Puma’s successful exploration methodology, which combines old prospecting methods with detailed trenching and up-to-date technology such as Artificial Intelligence, has been instrumental in facilitating an understanding of the region's geology and associated mineralized systems. Armed with geophysical surveys, geochemical data and consultants’ expertise, Puma has developed a perfect low-cost exploration tool to discover gold at shallow depths and maximize drilling results.
The Company is committed to its DEAR business model of Discovery, Exploration, Acquisition and Royalties to generate maximum value for shareholders with low share dilution.
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.
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.
Photos accompanying this announcement are available at:
