Puma Initiates First Drilling Campaign at Williams Brook Gold Property

Puma Exploration Inc., a Canadian-based mineral exploration company, has announced the commencement of its inaugural drilling program, with an initial minimum of 2,000 m, to examine high-grade gold targets.

The high-grade gold targets are located at the O’Neil Gold Trend (OGT) on Puma’s fully controlled Williams Brook Gold Project in New Brunswick.

The Williams Brook Gold Project is situated within the new highly potential district of Atlantic, Canada. Preliminary drilling work will examine shallow mineralization underneath the high-grade gold showings at the Lynx Gold Zone, in which several grab samples assayed across 30 g/t gold (Au).

Since the direction and plunge of the high-grade mineralization is yet to be identified, drilling will be continued with uniformly spaced fans of short drill holes centralized on the gold-bearing quartz veins network, as shown in the above image.

Ever since the high-grade gold-bearing system was discovered in late 2020, Puma Exploration has reported the discovery of more quartz veins and veinlets at the surface of the Lynx Gold Zone with several specks of Visible Gold (VG) seen in the quartz veins. The strongly modified rhyolite, in contact with sediments, hosts the mineralization.

We are thrilled to begin the drilling operation at the high-grade gold target at the Lynx Gold Zone. Following up on our new discovery of visible gold late last year, it is an exciting time for Puma Exploration. Since the initial discovery, we have uncovered significant gold in rock samples over at least 70 meters strike length along the Lynx Gold Zone which will be drilled first.

Marcel Robillard, President and CEO, Puma Exploration Inc.

The technical team has turned its attention toward interpreting the controls on gold mineralization of the O’Neil Gold Trend and the corresponding vein corridor.

The understanding of the local geology, structures and geophysical signatures has improved considerably from recent mapping, sampling and experts consultations. We are now well-positioned to begin drilling and the entire team is anxious to see the first drill core pulled from this newly discovered, gold-bearing, quartz vein system.

Dominique Gagné, President, Géominex

Gagné was responsible for all technical programs and work for Puma Exploration.

O’Neil Gold Trend (OGT)

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

The conducive unit (rhyolite) is parallel and analogous to the structures hosting the “Williams 1” and “Williams 2” Gold Zones with specific 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 interpreted to be associated with a significant rifting in the New Brunswick Geological events and may represent a low sulfidation epithermal gold system. The width of the altered horizon, along the OGT, differs from 5 to 250 m with an average evident thickness of 150 m.

Various quartz veins, quartz veinlets, breccias and stockworks were seen mostly perpendicular to the major trend and host the gold mineralization. The OGT has never been drilled before and several gold zones were identified during the summer 2020 exploration program.

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

• 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
• 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
• 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

*Some of the rock grab samples are selective by nature and may not represent the true grade or style

**VG: Visible Gold