Puma Discovers Additional Quartz Veins and Veinlets at Lynx Gold Zone

Puma Exploration Inc., a Canadian-based mineral exploration company, has announced that additional quartz veins and veinlets have been identified at the surface of the Lynx Gold Zone.

Visible Gold (VG) was detected in the quartz veins, as shown in the above image. The mineralization is hosted in a highly altered rhyolite at the contact with sediments. At present, stripping is ongoing at the Lynx Gold Zone with a couple of excavators mapping and cleaning the preliminary discovery, and extending the total size of the gold zone at the surface.

Puma’s systematic exploration program advances as expected and continues to deliver exceptional results. The Company will mobilize the drill rig on site shortly to initiate its first drilling program at the Williams Brook Gold Property.

Marcel Robillard, President and CEO, Puma Exploration, Inc.

Highlights

• Additional visible gold (VG) with sulfides (Sp-Ga-Cpy) was detected at the surface of quartz veins.
• Several more quartz veins have been identified, so far, on the Lynx Gold Zone. These veins represent part of a network of intertwined veins and veinlets.
• The Lynx Gold Zone remains exposed 90 m long x 25 m wide and is open in all directions.
• Stefan Kruse of Terrane Geoscience made a structural characterization that revealed two major vein sets hosting the mineralization.
• The contact between the sediments and the rhyolite seems to be the main control of the gold-bearing quartz veins.
• The drill pads have been prepared and are set for the drilling activities.

The 2021 summer field exploration program is focusing on the Williams Brook Gold property, with a particular focus on the new major discovery, called O’Neil Gold Trend (OGT), followed by trenching across 700 m with bonanza grades of up to 241.0 g/t gold (Au).

O’Neil Gold Trend (OGT)

The O’Neil Gold Trend (OGT) — a pervasive brecciated and altered rhyolite unit — hosts major gold showings and occurrences, and this is followed by trenching across a strike length of 700 m. OGT’s geophysical signature is expressed over 7 km.

Rhyolite — the favorable unit — is parallel and similar to the structures hosting the “Williams 1” and “Williams 2” Gold Zones with preferred drill results of 11.2 g/t across 2.8 m, 2.1 g/t Au across 9.0 m, and 1.0 g/t across 23 m.

Such trends are assumed to be associated with a major rifting observed during the New Brunswick Geological events and may denote a low sulfidation epithermal gold system. The width of the altered horizon, along the OGT, differs between 5 and 250 m with an average evident thickness of 150 m.

Various quartz veinlets, quartz veins, breccias and stockworks were detected largely perpendicular to the main trend and host the gold mineralization. While the OGT has never been drilled, several gold zones were identified during the 2020 summer exploration program.

High-Grade Selected Grab Samples Assays on the Prolific O’Neil Gold Trend (OGT)

• O’Neil Gold Zone (VG) — 128.5 g/t Au, 44.4 g/t Au, 38.8 g/t Au, 32.8 g/t Au and 23.1 g/t Au
• Lynx Gold Zone (VG) — 241.0 g/t Au, 79.8 g/t Au, 74.2 g/t Au, 63.5 g/t Au and 58.4 g/t Au
• Pepitos Gold Zone (VG) — 52.1 g/t Au, 16.1 g/t Au, 15.0 g/t Au, 13.1 g/t Au and 4.87 g/t Au
• Moose Gold Zone — 2.4 g/t Au, 2.1 g/t Au, 1.3 g/t Au and 1.1 g/t Au
• Chubby Zone Area — 3.5 g/t Au, 1.2 g/t Au, 1.2 g/t Au and 0.45 g/t Au