Puma Exploration keeps the Red Brook option agreement in good standing
Rimouski, January 09th, 2017 – Puma Exploration Inc. (the “Company” or “Puma”) is pleased to announce that has fulfilled the requirements needed to satisfy the terms of the second anniversary of the Red Brook high grade Zinc Project in New Brunswick. With the renewed interest of the Bathurst Mining camp project and the activities in the area, Puma is very excited about the exploration plan for 2018.
The Red Brook option was acquired from a local prospector’s following his recent discovery of high grade Zinc Massive Sulphide outcrop grading up to 13% Zn, 0.23% Cu and 2.5g/t Ag. The initial excavated, 40 meters by 15 meters area, also contains a Gold and Copper zone grading up-to 1.3 g/t Au and 0.53% Cu (see News release 19/01/2016).
Puma has completed preliminary channeling program on the Red Brook. The high grade zinc skarn discovered during the stripping has been confirmed with 2 channels sampled in Zone A with respectively 6.04% Zn over 3.0 meters and 5.2% Zn over 1.5 meters. All the samples collected show significant copper background content with an average copper grade of 0.20% Cu for the entire 119 channel samples. A gold and copper association has been observed in channels particularly in zone A with 0.10 g/t Au and 0.23% Cu over 15.8 meters.
The newly discovered Zone B could be the extension of the Popelogan Deposit reported to have an historical resources of 3.1 M tons at 0.3 % Cu. The historical resources as been defined by Noranda in 1960 by 20 drillholes and were prepared prior to the implementation of NI43-101 and use terminology not compliant with current reporting standards. Puma has not made any attempt to re-classify the estimates according to current standards of disclosure and is not treating the estimate as current mineral resources or mineral reserves. Historical estimates should not be relied upon. The property covers an area underlain by Ordovician volcanic and Silurian sediments intruded by Devonian intrusions, similar in age and composition of the Gaspe intrusive.
About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company’s major assets consist of an option to acquire 100% beneficial interest in the Murray Brook Property, the Turgeon Zinc-Copper Project and the Nicholas-Denys Project located in New Brunswick as well as an equity interest in BWR Resources, Manitoba. Puma’s objective for the coming year is to focus its exploration efforts in New Brunswick.
Qualified Persons and QC/AC
The content of this press release was prepared by Marcel Robillard, P.Geo., President and Dominique Gagné, P.Geo., Vice President Exploration of Puma Exploration, qualified persons as defined by NI 43-101, who supervised the preparation and technical information that forms the basis for this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Mr. Robillard and Mr. Gagné are not independent of the Company, as both are officers and shareholders thereof. The samples were prepared, sent, processed at ALS Val D’Or, Québec and ALS Sudbury, Ontario. All samples were assayed by ME-ICP41 method and gold was assayed by AU-AA26 method. QA/QC are monitored by the analysis of blanks, reference material and replicate samples at a frequency of one (1) of each per 30 samples.
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Marcel Robillard, President
Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Puma Exploration Inc. to be materially different from actual future results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statements were made, except as required by law. Puma Exploration undertakes no obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.