Puma Exploration (PUM-V) high grade samples up to 3.03 kg/t Ag, 7.42 g/t Au at ND
Oct 30, 2013 - News Release
Puma Exploration Inc. has released surface sample results from the stripping and trenching program under way on its Nicholas-Denys (ND) project near Bathurst, N.B. The current surface exploration program is being conducted to extend the contiguous Hache and Shaft Zones which form part of the 10 km long Rocky Brook Corridor along the southern margin of the large Nicholas-Denys Porphyry system. Very high grade massive to semi-massive samples grading up-to 7.42 g/t Au, 3,030 g/t Ag, 0.27% Cu, 60.0% Pb and 14.4% Zn were collected at surface at the west end of the Hache zone and at the both ends of Shaft zone. Highlights include:
- Very high grade massive to semi-massive samples grading up-to 7.42 g/t Au, 3,030 g/t Ag, 0.27% Cu, 60.0% Pb and 14.4% Zn were collected at surface;
- 100 meters westward extension at Hache, doubling the size of the zone at surface;
- 200 meters surface strike length extension of the Shaft zone at both ends establishing the presence of continuous silver-lead-zinc mineralization over 1km;
- Sample results along the Rocky Brook Corridor reveal strong correlation between copper, molybdenum and silver but also with speciality metals like Bismuth (Bi) and Tungsten (W) proving that at least one mineralized event correlates with the porphyry system.
A total of 20 grab samples were collected at surface at both extensions of the Hache and Shaft zones which is now established as a continuous 1 kilometer long mineralized zone. The main objective of the stripping program is to increase the surface expression of the zones and to point out the main structural and geological features of the Rocky Brook silver-gold-lead-zinc corridor in relation to the large ND porphyry system.
The RockyBrook-Millstream fault system, located 600 meters south of Nicholas-Denys granodiorite, controls the mineralization for the Rocky Brook Corridor over a strike length of 10km. This fault system is interpreted to be part of the main plumbing conduit by which metal-bearing fluids from the massive ND porphyry were injected into the host sedimentary rocks. Numerous steeply dipping mineralized zones from one to 20 meters wide have been identified and consist of semi-massive to massive sulphide pods, veins and stringers hosted in a broad disseminated sulphide zone. All mineralized zones carry significant gold and silver enrichment.
The highest grade zones occur at the intersections of the NW-SE transverse faults and the Rocky Brook-Millstream Faults. Some of these intersections have been drilled (25,000 meters in 91 holes) and previously reported as with silver-gold-lead-zinc mineralization occurring from surface to a vertical depth of 450 meters. Prior drilling and the results of the recent surface stripping and sampling program continue to define a large high grade precious and base metal zones at surface to almost half a kilometer deep and open in all directions.
Nicholas-Denys Exploration Strategy
Three parallel exploration programs are underway at our Nicholas-Denys property. These are:
1. ND Porphyry System
The exploration continues on the large sixteen square kilometer ND granodiorite porphyry in order to define a classic copper +/- moly +/- gold porphyry system such as the Pebble system in Alaska, Antamina in Peru or Climax in Denver. At ND, prior work defined large drill intersections in the 0.01% Cu anomalous range. The 2013 exploration program was designed to discover very large drill intercepts with an order-of-magnitude higher copper content: that while still in the sub-economic 0.1% Cu range confirmed the porphyry as a legitimate host target with also high grade copper samples with up-to 2.5% Cu.
This objective has been achieved as reported in the press release of October 22, 2013. This drill information together with an ongoing surface (31km line) and down hole IP surveys (4 holes) and the re-interpretation of magnetic data is being used to target the next phase of the program. The next drill program will be designed to encounter +500m intercepts at an additional order-of-magnitude increase. That is, to encounter grades at 1.0% Cu or higher. We expect to launch our next drill program before the end of 2013 as the field crew is on site to cut and prepare the drill sites and access for the first five priority drilling targets.
2. Rocky-Brook-Millstream Fault Corridor
The Rocky Brook Corridor, the subject of this press release, is a stunning mineralization phenomenon. It is 10 kms long and contains 16 high grade precious and base metal deposits that still remain to be drilled and defined. It is interpreted to be a cogenetic product of the Devonian-age intrusion of the ND granodiorite pluton into the host sedimentary and volcanic rocks that were deposited in during the Cambrian and Ordovician geological periods. Our current efforts concentrate on the contiguous Hache and Shaft zones that comprise 1km of the 10km corridor. The recent stripping program together has exposed the Hache zone 100 meters to the west and the Shaft zone 200 meters to the east. This information is sufficient to allow us to design an appropriate drill program to further outline this segment of the Rocky Brook Corridor.
3. Skarn Reconnaissance Program
Skarns deposits are formed when hot magmatic fluids from a porphyry intrusion react with nearby rocks that contain high calcium carbonate concentrations, such as limestones. The Devonian-age ND granodiorite was intruded into older Silurian-age rocks of the LaPlante Formation. The LaPlante Formation rocks, consisting of preserved oceanic reefs, are perfect hosts for skarn mineralization. These rocks do not outcrop in the vicinity of the ND porphyry but they are in direct contact with the porphyry at shallow depths. Recent geophysical surveys indicate multi-kilometer targets adjacent to the porphyry and along the regional strike of the LaPlante Formation. Puma is currently prospecting, mapping and trenching the geophysical targets prior to launch a new drill program.
The contents of this press release were prepared by Dominique Gagne. a Qualified Person as defined in NI 43-101. The samples were analyzed at the ALS Chemex laboratory in Val d'Or using the atomic absorption and ICP methods. There is not enough drilling data presently available to determine the shape and true width of the mineralized zone.
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