RIMOUSKI, QUEBEC--(Marketwired - Aug 23, 2017) - Puma Exploration Inc. (the "Company" or "Puma") (TSX VENTURE:PUM)(SSE:PUMA) has begun its first drilling program at the Murray Brook Deposit. The first hole is underway and is collared to test the depth extension of the massive sulphide deposit located at surface and extending, continuously to 300 meters vertical.
Two (2) other holes are planned to verify the shallower copper mineralization intersected in the southwestern part of the deposit. The copper zone is open along strike and lies within the first 100 meters from surface. The targets consist of a combined airborne MEGATEM anomaly and a surface chargeability IP anomaly which have never been drilled.
"We are most excited to launch our own drilling program at the Murray Brook Deposit as it is the first drilling program conducted on this mining lease property since 2013" notes Marcel Robillard, President and CEO of Puma Exploration. The current drilling program begun, as planned, following the completion of phase I of the trenching operation completed on the Murray Brook East property.
Murray Brook East (4925)
The Murray Brook East property (4925) consists of 245 claims (5326 hectares) located between the Murray Brook Mining Lease (#255) and the Caribou Mining Lease (# 246). Its eastern boundary is located only four kilometers west of the producing Caribou Mine owned and operated by Trevali Mining Corp.
An extensive trenching program began on the Murray Brook East property at the beginning of June to verify the targets defined by Puma's geologists from the data collected by the previous operators which included geophysical surveys (HeliTEM, Magnetic, Gravity) and geochemical surveys (1,853 soil samples). A previous 10 short holes drilling program along the 7 km favorable was conducted in 1956.
Trenching (Phase I)
Puma has completed a trenching program (Phase I) at Murray Brook East property, which consisted of a total of 38 trenches on a 3.8 km length. Some 127 samples were collected and will be analyzed for metals and whole rock geochemistry. The main objective of this preliminary program was to delineate and describe the contact between felsic volcanic and the sediments similar to the favorable horizon hosting the Murray Brook Deposit before proceeding with a drilling program.
Disseminated sulphides to massive sulphide veins were observed over a large gravity anomaly located at the contact between the sediments and the felsic volcanic in the northern boundary of the property. Other mineralized rock was observed mostly around two other gravity anomalies. In many locations, the black shale (sediments) observed were faulted and/or folded locally. This observation is important for the next drilling campaign planned to start in October and these areas will be the first priority targets.
Murray Brook Deposit
The underground sulphide mineral resource estimate of the Murray Brook Deposit comprises measured and indicated mineral resources totalling 5.28 million tonnes averaging 5.24 per cent zinc, 1.80 per cent lead, 0.46 per cent copper, 68.9 grams per tonne silver and 0.65 g/t gold. It contains 610 million pounds of zinc, 209 million pounds of lead, 54 million pounds of copper, 11.7 million ounces of silver and 111,000 ounces of gold at a $85 per-tonne NSR (net-smelter-return) cut-off in the sulphide measured and indicated categories. On February 20th 2017, the NI 43-101 report was accepted and filed on SEDAR.
Puma is actually updating the PEA on the Murray Brook Deposit. Various economic and development scenarios is currently studied from a large open pit to a high grade zinc underground operation.
About the Murray Brook Project
The Murray Brook Project consists of three (3) distinct contiguous areas that cover more than 18 kilometers of the favorable rock hosting the operating Caribou Mine (Trevali Mining Corp.), the Murray Brook Deposit and the past operating Restigouche Mine (Trevali Mining Corp.). From east to west, they are the Murray Brook East Property (4925), the Murray Brook Mining Lease (# 252) and the Murray Brook West Property (7846). The Murray Brook East and Murray Brook West Properties have been subject to various degrees of exploration and share the same potential of increasing the mineral resources defined at the Murray Brook Deposit.
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 are an option to acquire 100% per-cent 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. Puma's objective for the coming year is to focus its exploration efforts in New Brunswick.
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The contents of this press release were prepared by Marcel Robillard, P.Geo., a Qualified Person as defined in NI 43-101. 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.
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.