Source: Puma Exploration

Puma Exploration (TSXV:PUMA) has reported preliminary findings from its 2023 drilling program at the Williams Brook Gold Project in Northern New Brunswick, Atlantic Canada, demonstrating that gold mineralization extends beyond 100 meters depth. The exploration, entirely owned by Puma, took place at the Lynx Gold Zone, where 24 holes amounting to 3,475 meters were drilled.

The drilling exposed more than 100 specks of visible gold in 37 different locations, with 16 occurrences situated between 100 meters and 211 meters downhole depth. The gold mineralization appears to be constrained at the favourable contact between rhyolite and sediment, and potential high-grade veins are often found in association with carbonate alteration (dolomite) and sulphides.

Puma Exploration President and CEO Marcel Robillard commented in a press release: “We are extremely pleased with this first phase of our 2023 drilling program and what we see in the core. There’s tremendous validation of our approach and model when we can hit VG successfully, and multiple instances of it is remarkable. The mineralization, mineralogy, alteration etc., all indicate that we are dealing with a large hydrothermal system that extends laterally and at depth. We are confident that we’ll substantially add to the gold inventory at the Lynx Gold Zone as we continue to advance our 2023 program and beyond.”

Source: Puma Exploration

This initial phase of drilling was conducted with a specific focus on the Lynx and Moose areas of the LGZ and was purposed to confirm and expand the known high-grade gold mineralization both at depth and along strike. An additional objective was to target veins previously mapped at the surface using different drilling orientations to improve the understanding of the veins’ geometry and update the structural model.

The results from the Phase 1 drilling not only confirmed the extension of the mineralization beyond 150 meters depth but also shed light on the alteration observed in the core. As drilling reached 100 meters vertical depth, the supergene alteration transitioned to fresh sulphides. Although many holes showed pervasive sericitization, the presence of visible gold and associated potential high-grade veins was linked to the existence of carbonate alteration and specific sulphide assemblages. These sulphides were also found 255 meters downhole in one of the drilling holes.

Looking ahead at the 2023 Drilling Program, the fully-funded and permitted progress has three primary objectives: to extend the continuity of the LGZ at depth and along strike, to validate and refine the existing geological model, and to corroborate Puma’s current geophysical pathfinder tool. Initially planned for 15 holes and approximately 2,000 meters, Phase 1 drilling was expanded to 24 holes and 3,500 meters after the Company successfully intercepted the depth extensions of the high-grade shoots identified by previous programs. Assays from the Phase 1 drilling are still pending, and the results will be announced upon receipt.

To advance exploration, Puma is preparing to conduct surface exploration work to locate the favourable rhyolite sediment contact along the strike extension of the Lynx Gold Zone. This work is in preparation for the Company’s forthcoming Phase 2 drilling program. The discovery has marked a significant development in understanding the Williams Brook Gold Project’s potential and demonstrates Puma’s commitment to thorough exploration and evaluation.

Highlights from the results are as follows:

Table 1. Visible gold occurrences in Phase 1 2023 drilling

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