Total
0
Shares
Puma Gold shares bump 20 per cent on property purchase
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Puma Exploration Inc. (PUMA) has new results of six initial drill holes at the Williams Brook Gold Project
  • Highlights from this zone included two main high-grade intercepts of 9.88 g/t gold over 8.6 metres and 46.94 g/t gold over 3.85 metres
  • Following these excellent drill results, the company has decided to increase its planned campaign to 10 thousand meters
  • Now, the technical team is on-site to proceed with trenching and stripping and a large grab sampling program with detailed mapping is in progress
  • Puma Exploration is a Canadian mineral exploration company
  • Puma Exploration Inc. (PUMA) is currently down 1.69 per cent, trading at $0.58

Puma Exploration Inc. (PUMA) has new results of six initial drill holes at its flagship Williams Brook Gold Project.

The project, located in New Brunswick, is the newest emerging gold district of Atlantic Canada. To date, 18 holes over 2,360 metres have been drilled on the property, with 12 still pending results.

Initial observations of the drill cores indicate that each of the 18 diamond drill holes shows consistent mineralization and pervasive alteration over the core length. Visible gold was also observed in many holes.

All six of the first holes intersected significant high-grade gold-quartz veins and quartz networks in the Lynx Gold Zone of the O’Neil Gold Trend.

The drill program was designed to better understand the spatial geometry of the mineralized area and discover any new potential high-grade zones extending at depth. The holes were oriented to intersect the down-dip projection of significant high-grade gold vein networks exposed at the surface in trenches and in stripped areas at the Lynx Gold Zone.

Highlights from this zone included two main high-grade intercepts of 9.88 g/t gold over 8.6 metres and 46.94 g/t gold over 3.85 metres.

"The drill results, announced today[...]clearly demonstrate the tremendous gold potential of our Williams Brook Gold Project," added Robillard.

Following these excellent drill results, the company has decided to increase its planned campaign to 10 thousand meters, up from the initial 2,000 meters.

"It is really exceptional to make such a great gold discovery in such a short period of time and with a limited exploration budget," said executive chairman Réjean Gosselin. "This is the result of the dedicated hard work of all the professionals working with Puma."

Now, the technical team is on-site to proceed with trenching and stripping and a large grab sampling program with detailed mapping is in progress. Drill pads for the next core-oriented drill campaign are also being prepared.

Puma Exploration is a Canadian mineral exploration company with precious and base metals projects in early to advanced stages in the famous Bathurst Mining Camp (BMC) in New Brunswick.

Puma Exploration Inc. (PUMA) is currently down 1.69 per cent, trading at $0.58 as of 10:12 am ET.

More From The Market Herald
Ground magnetic survey expands target areas at Eloro Resources’ (TSXV:ELO) Iska Iska Project

" Eloro Resources (TSXV:ELO) provides update on its Iska Iska silver-tin polymetallic project

Eloro Resources (ELO) is pleased to provide an update on its Iska Iska silver-tin polymetallic project in Potosi Department, southern Bolivia.
TomaGold (TSXV:LOT) intersects 47.4 g/t Au and 87.6 g/t Ag over 1.1 metres on Obalski

" Manitou Gold (TSXV:MTU) discovers new gold zone on the Goudreau Project

Manitou Gold (MTU) has identified a new gold zone, the Bald Eagle Gold Zone (BEGZ), on its Goudreau project in northeastern Ontario.
Benchmark Metals (TSXV:BNCH) announces fully exercised warrants led by Eric Sprott

" Benchmark Metals (TSXV:BNCH) announces fully exercised warrants led by Eric Sprott

Benchmark Metals (BNCH) has announced that the 10,473,163 warrants that were due to expire have been fully exercised.
Prime Meridian Resources Corp. (TSXV:PMR) acquires Kelly Project expansion & financing

" Prime Meridian Resources Corp. (TSXV:PMR) acquires Kelly Project expansion & financing

Prime Meridian Resources Corp. (PMR) has acquired, through staking, an additional block of claims.