Puma Confirms 4 km Extension 0f Lynx Gold Trend
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Puma Confirms 4 km Extension
0f Lynx Gold Trend
Rimouski, July 11, 2024—Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or
"Puma") announces the results of its maiden scouting drilling program outside of the main Lynx Gold
Zone (“LGZ”) at its 100%-owned Williams Brook Gold Project in Northern New Brunswick.
The 2,270 metre s shallow diamond drilling was devised as a follow -up to Puma’s 2023 surface
exploration program to confirm the presence of gold mineralization subsurface and determine the
orientation and dip of the gold -bearing structure and alteration that was interpreted to extend 4 km
northeast of the LGZ . The small, cost -effective program not only confirmed the presence of gold
mineralization by intersecting anomalous gold at the Tiger Gold Zone (“TGZ”), located 350 m away, but
the program also intersected several distinct styles of mineralization and alteration - some similar to those
at the Lynx Gold Zone, as far as the Cheetah Gold Zone 3.5 km away and at a depth of over 150 metres
downhole (Figure 1).
Figure 1. Location of scouting drilling over 2024 drone magnetic survey map
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These results continue to validate Puma’s successful discovery method. Grab samples are proving to be
a reliable vector for discovering gold at depth. A quartz vein stripped at surface at the Tiger Gold Zone
that graded 19.90 g/t Au in a grab sample* returned 2.0 g/t Au over 0 .40 m in drilling (* the reader is
cautioned that grab samples are selective by nature and may not represent the true metal content of the
mineralized zone). Similarly, the holes drilled at the Tiger Gold Zone returned grades representative of
the surface samples collected in this area in 2023 (see Table 1).
While the Tiger 2 zone appears to carry anomalous gold results, parallels can be drawn between these
first drill holes at Tiger and the initial drilling at the Lynx Gold Zone when Puma started drilling there (see
Figure 2). The Chubby gold zone, drilled in 2021, returned lower-grade intercepts but was found to be
adjacent to a very high -grade gold zone. The current results at Tiger, with the observation of similar
quartz veins and the same alteration and structures as those at Chubby, suggest that Tiger could also be
proximal to a higher grade zone. This observation reinforces our confidence in the potential for future
drilling targets at the TGZ, and further surface exploration and sampling will be undertaken to identify
these.
Figure 2. Initial stripping work and drilling at LGZ in 2021
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Marcel Robillard, President and CEO, commented, ‘’Our program accomplished what we set out to do –
show that the Lynx Gold trend extends 4 km along strike. We didn’t intercept high-grade gold, but our
observations confirm the potential for higher-grade zones along the trend. Also, we confirmed that our
discovery method works – grab sampling typically reflects what’s in the ground. We know that broad zones
of lower-grade gold surround very high-grade gold shoots at Lynx and that some quartz veins do not contain
gold at all - this likely also applies along the 4km trend. These results help us refine our model, and the
drone mag survey has identified some zones we’re currently exploring to identify targets for future drilling.
In the meantime, our new 3D model of the Lynx Gold Deposit mineralization has been updated, and we
plan to resume drilling deeper at Lynx in the fall.”
2024 Scouting Drilling along the Lynx Gold Trend (“LGT”)
The 2024 scouting drilling program outside the central Lynx Gold Zone consisted of thirty (30) short holes
(Figure 1) for 2,270 metres. Twenty-two (22) holes (1,500 metres) were drilled at the centre of the Tiger
Gold Zone (200 m x 400 m area) located about 350 metres north-east of the Lynx Gold Zone where four
(4) small stripped areas uncovered four (4) auriferous quartz veins (Figures 3 to 5). The other holes were
spread over more than 3.5 kilometres along strike with step-out holes located up to 1 kilometre apart.
The gold mineralization at the TGZ (Tiger 1 to 4) occurs in quartz veins with limonite alteration similar to
those at the LGZ. However, here, the quartz veins occur not only at the rhyolite/sediment contact but also
at a rhyolite/gabbro contact. The presence of veining reflects the competency contrast between the
geological units, allowing for the upwelling of hydrothermal fluids.
At Tiger 1 and 3, the presence of a large gabbro sill, altered at its margins, suggests a major intrusion
that strikes parallel to the primary gold trend-oriented NE (Figures 2 and 3). The recent magnetic drone
survey has outlined a long positive anomaly that could indicate the presence of several mafic dikes within
the favourable corridor, which could be positive according to our expert advisor, Dr. Gregg Morrison
‘’The genetic model is a mesozonal part of an orogenic system with mantle magma derived metal s—the
mineralization formed in the transition from Early Devonian transpression to relaxation and emplacement
of mafic dikes. The ore control is the extensional veins and cavities formed in the ENE veins with higher
grade at the intersection with the NNE shears and veins. The structure model is the best guide to ore
location, and the metal zoning, especially concentrations of Cu-Zn-Pb-Te-Bi beneath the surface As-Sb, is
the best guide to high-grade discovery’’.
The Pb-Ag ratio in assays has been a vector for the discovery of high -grade gold mineralization at Lynx.
Although drilling at Tiger 2 returned no gold, the ratios of Pb -Ab at Tiger 2 are similar to those in some
areas of Lynx, namely at the Chubby zone, where the gold levels were low, but that is proximal to a very
high-grade zone. The same could be true of the Tiger 2 zone. The recent mag survey has identified several
areas of interest at Tiger 2 that will be further investigated.
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Figure 3. Drillhole location over the trenched Tiger Gold structures
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Figure 4. Drill section at Tiger 1
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Figure 5. Drill section at Tiger 3
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Table 1. Drilling highlights of 2024 scouting drilling
DDH # From (m) To (m) Length (m) Au (g/t) ZONE
WB24-146 7.80 10.65 2.85 0.13 Tiger 1
WB24-147 15.65 24.30 8.65 0.12 Tiger 1
21.00 24.30 3.30 0.28
23.55 24.30 0.75 0.86
WB24-148 25.90 26.45 0.55 0.32 Tiger 1
WB24-149 16.40 25.65 9.25 0.11 Tiger 1
18.25 25.30 7.05 0.14
18.80 24.40 5.60 0.16
18.80 19.40 0.60 0.77
WB24-150 34.00 35.00 1.00 0.10 Tiger 1
WB24-151 13.00 15.00 2.00 0.74 Tiger 3
13.60 14.40 0.80 1.44
13.60 14.00 0.40 2.06
WB24-152 34.70 42.85 8.15 0.14 Tiger 3
37.05 37.70 0.65 0.34
42.50 42.85 0.35 0.42
WB24-153 4.50 6.00 1.50 0.44 Tiger 3
4.50 4.90 0.40 1.28
WB24-156 13.55 14.00 0.45 0.18 Tiger 3
WB24-160 9.75 13.80 4.05 0.42 Tiger 3
9.75 10.25 0.50 0.88
12.60 13.80 1.20 0.95
13.30 13.80 0.50 1.55
WB24-167 15.60 16.05 0.45 1.33 Tiger 3
WB24-170 159.55 159.95 0.40 0.87 Cheetah
WB24-174 34.60 35.05 0.45 0.34 Tiger 3
39.80 40.20 0.40 0.62
The main objective of short scouting drill holes at Cheetah was to prove that the favourable contact with
supergene alteration and gold mineralization extends to 4 km away from the LGZ. An intercept of 0.87 g/t
gold over 0.40 m was intersected where a grab sample had graded up to 6.69 g/t gold. Initial grab
sampling at Cheetah had only returned 0.20 g/t gold. It’s important to note that since 2020, more than
5,000 samples have been collected at the Lynx Gold Zone, which led to the discovery of high-grade gold
zones at depth. The same successful exploration method will be deployed to develop the zones from Tiger
to Cheetah.
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Figure 6. Core from the Cheetah Gold Zone located 3.25 km northeast of the Lynx Gold Zone