PUXPF - Puma Exploration Intercepts Widespread Alteration with VG at Tiger Gold Zone and Expands Ongoing Drilling Program | Benzinga
RIMOUSKI, Quebec, April 04, 2024 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (TSXV:PUMA, OTCQB:PUMXF) (the "Company" or "Puma") is pleased to provide an update on the ongoing 2,000 metres drilling program at the Tiger Gold Zone ("TGZ") at its 100% owned Williams Brook Gold Project in Northern New Brunswick. The Tiger Gold Zone is a new gold area discovered last year by applying the Company's successful discovery model. Positive initial drill core observations prompted the expansion of the program.
Drilling Highlights
- Fifteen (15) holes with depths from 25 to 150 m have been completed for a total of 875 metres.
- The holes were drilled 425 metres from the Lynx Gold Zone (Figure 1).
- All holes intersected the targeted favourable gold-bearing horizon of quartz veins / stockwork in altered sediment and gabbro units.
- Visible gold was observed in hole WB24-151 in a quartz vein in altered gabbro (Figure 2).
- The same pervasive alteration corridor characteristic of the LGZ is observed at Tiger (Figure 3).
"We are thrilled with what we see in the first 800 metres drilled so far at Tiger. The core exhibits the same pervasive alteration and mineralization characteristic of the Lynx Gold Zone. This further supports our belief that we are dealing with a large gold system and that the Lynx Gold Zone extends at least 1.5 kilometres along strike. Following these observations, we have expanded our drilling program by adding scouting drill holes along another 2-kilometre extension. With our exploration program fully funded, our focus is to grow the scale and resource along the Lynx Gold Trend in 2024," stated Marcel Robillard, President and CEO of Puma.
2024 Expanded drilling program at the Tiger Gold Zone
The inaugural drilling program at TGZ aims to prove the 1.5 km northeast extension of the pervasive gold mineralized corridor of the Lynx Gold Zone ("LGZ") (Figure 1) and demonstrate a potential width increase. The shallow fan-patterned drilling is testing the mineralization below the gold veins, identified by trenching and mapping last year. Drilling also aims to understand what controls gold mineralization at the TGZ and how this zone fits in our current structural and lithological model.
Figure 1. Gold zones along the Lynx Gold Trend (LGT)
The reader is cautioned that grab samples are selective by nature and may not represent the true metal content of the mineralized zone.
Geophysical and geochemical surveys previously identified a series of targets along the Lynx Gold Trend, which were followed up by limited trenching by previous operators. Last year, Puma discovered a new prospective area, the Cheetah Gold Zone ("CHGZ"), which returned 6.69 g/t Au in the Company's initial trenching and sampling exploration program.
"We are so excited and encouraged about what we see in the core at Tiger that we decided to test the favourable contact along another 2 km. We'll be drilling step-out shallow holes along the Lynx Gold Trend to test the presence of gold ...