Puma makes another gold discovery at Williams Brook, New Brunswick

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Puma Exploration Inc. [PUMA-TSXV; PUMXF-OTCQB] reported that grab samples collected at the new Jaguar gold zone (JGZ) at its 100%-owned Williams Brook gold project in the Bathurst mining camp of northern New Brunswick have returned up to 34.70 g/t gold.

High-grade gold mineralization at the Jaguar gold zone is found in altered rhyolite associated with pervasive pyrite mineralization. Other grab samples returned significant values such as 18.30 g/t gold, 16.85, 16.30, 16.25 g/t  and 12.90 g/t gold. Gold mineralization occurs along a favourable rhyolite/sediment contact near a major fault and its subsidiaries.

The JGZ hosts a gold-enrichment zone that spans 80 metres by 50 metres, and remains open in all directions. The gold mineralization at the JGZ is associated with quartz-pyrite veinlets and could be as significant and widespread as that found at the Lynx gold zone. Today’s results indicate that gold mineralization at Williams Brook could be very extensive and that other gold-mineralized zones are expected within the 40,000-hectare project.

The Jaguar gold zone, located about 5 km northeast of the Lynx gold zone (LGZ), was briefly explored in 2008 by previous operators. At that time, soil anomalies and trenching identified gold mineralization at surface. Subsequent drilling returned 2.10 g/t gold over 9 metres within a lower-grade envelope of 0.52 g/t gold over 55 metres in hole WB-08-03. No additional work was carried out until Puma stepped in 2020.

Puma trenched and stripped the JGZ this summer to follow up on the 2008 results. Puma successfully applied its discovery model developed at the Lynx gold zone to this new property area. This systematic approach led to another gold discovery at the Jaguar gold zone with much higher gold grades than reported historically.

A total of 207 samples were collected this summer at the JGZ with an average grade of 1.67 g/t gold. Fifty-nine samples assayed above 1.00 g/t gold (28.5%) and 35 samples between 0.10 g/t gold to 1.00 g/t gold (16.9%). One hundred additional samples were collected recently and sent to the lab. Results will be announced when received.

The work completed at the JGZ is part of Puma’s continuing strategy to build a potential gold camp at the Williams Brook gold project by testing highly prospective areas on the large land package while prioritizing the development of the Lynx gold zone.

The Williams Brook project comprises six claim blocks covering more than 46,000 hectares in an established and mining-friendly jurisdiction, near paved roads and with excellent infrastructure nearby. The land package is located near the Rocky Brook Millstream fault (RBMF), a major regional structure formed during the Appalachian Orogeny and a significant control for gold deposition in the region.

The Lynx gold zone (LGZ) is Puma’s main area of focus. It was discovered in 2020 by high-grade surface samples and later recognized at depth in 2021 by hole WB21-02 that intersected 5.55 g/t gold over 50.15 metres from surface, including two high-grade gold veins with 9.88 g/t gold over 8.60 metres and 46.94 g/t gold over 3.85 metres. A follow-up 10,000-metre (113 holes) drilling program identified several new high-grade veins at Lynx, including 51.73 g/t gold over 1.85 metres (WB 22-66), 34.93 g/t gold over 3.00 metres (WB22-23), and 22.38 g/t gold over 3.20 metres (WB22-36), and identified three gold enrichment zones along the 750-metre strike length stripped to date.

A large orogenic/epithermal gold system is present at Williams Brook. Surface exploration work has identified several additional gold targets along the extension of the OGT and other gold trends on the large land package, including the recently uncovered Cougar and Jaguar gold zones.

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