The three properties of Puma, Williams Brook, Jonpol and Portage are all located within the Iapetus Suture striking from Ireland to Virginia and home of all the Atlantic Gold Deposits. A new 4,000 km-line VTEM heliborne geophysical survey covering the 3 properties was completed in Q1 2021.
The Jonpol and Portage contiguous properties of Puma are located approximately 10 km East of Williams Brook and are underlain by the same geology. They cover an area of approximately 6000 hectares. Several gold occurrences grading up to 17.1 g/t Au are reported on both properties.
The Williams Brook Property is located on the western edge of the Bathurst Mining Camp. It covers more than 30,000 hectares of prime exploration land. The property benefits from excellent access, water, electricity and experienced manpower readily available.
Exploration work has identified at least 4 different gold trends on the Williams Brook Gold Project. Puma concentrates its efforts on the newly discovered 700 meter-long O’Neil Gold Trend, a pervasive altered and brecciated rhyolite unit. The rhyolite is in contact with sediments and characterized by quartz veins and veinlets, stockworks and breccias. Visible gold is present and grab samples have returned high grade gold up to 241 g/t Au.
The first ever drilling campaign on the O’Neil Gold Trend was completed in August 2021. The 2,360 meters drilling program was implemented to intersect the down-dip projection of the high-grade gold veins exposed at surface. It was also designed to better understand the spatial geometry of the mineralized envelope. The oriented NQ drilling was planned with the support of Terrane Geoscience Inc. after detailed structural analysis.
The drilling returned exceptional results with an intersection of 50.15 meters grading 5.55 g/t Au in WB21-02! Each hole showed consistent mineralization and pervasive sericite and iron alteration over large section. Main features included abundant quartz veins and veinlets with disseminated sulfides and oxides. Visible gold was also observed in several holes.
Induced Polarization geophysical survey and aggressive grab sampling program have been completed. Both surveys yielded excellent results. A complementary 10,000-meter drilling campaign will begin in Q4 2021.