Puma Exploration Inc.
TSX VENTURE : PUM

Puma Exploration Inc.

July 05, 2012 10:24 ET

Puma Exploration Drills 6.4 Meters of 446 g/t Ag, 1.5 g/t Au, and 5.8% Zn at Nicholas-Denys Silver Project in New Brunswick

RIMOUSKI, QUEBEC--(Marketwire - July 5, 2012) - Puma Exploration (TSX VENTURE:PUM) announces the results of the first seven holes of the 2012 Nicholas-Denys drilling program in New Brunswick targeting the high-grade zones of silver and gold within the Haché lens area.

Highlights include:

  • Drill intersection of 446 g/t Ag, 1.54 g/t Au, 2.2% Pb and 5.8% Zn over 6.4 m within the main Haché lens, including a high grade zone of 820 g/t Ag, 2.70 g/t Au, 3.5% Pb and 3.4% Zn over 3.0 m in hole FHA12-04;

  • Discovery, in hole FHA12-07, of a new silver and gold rich zone grading 579 g/t Ag, 1.42 g/t Au, 3.7% Pb and 5.8% Zn over 1.9 m, located in a distinct sulphide lens (Haché West) at the south-west extension of the main Haché lens;

  • Persistant gold mineralization drilled near surface and grading 1.1 g/t Au over 17.5 m including a higher grade zone of 2.8 g/t Au over 5.0 m.

The main Haché lens

The drilling program hit the targeted high grade silver and gold zone in hole FH12-04, which intersected semi-massive to massive sulphide mineralization over 15.1 meters grading 195 g/t Ag, 0.74 g/t Au, 1.0% Pb and 2,6% Zn. It includes a higher grade zone of 820 g/t Ag, 2.70 g/t Au, 3.5% Pb and 3.4% Zn over 3.0 m.

The sulphide zone intersected in FH12-04 is one of the richest silver zones intercepted to date on the property. Previous holes drilled by Puma cut similar high grade zones and defined the richest zone of the main Haché lens.

Table 1: Selected Puma's holes drilled in the main Haché Lens rich zone

Hole From (m) To (m) Long (m) Ag (g/t) Au (g/t) Pb (%) Zn (%)
FHA12-04 72.9 87.9 15.1 195 0.74 1.0 2.6
including 72.9 79.2 6.4 446 1.54 2.2 5.8
including 75.6 78.6 3.0 820 2.70 3.5 3.4
including 75.6 77.6 2.0 1,112 3.52 4.6 4.9
F07-04 48.6 51.8 3.2 328 1.56 2.9 2.7
F07-15 70.9 75.7 4.8 1,096 5.59 5.3 7.7
F07-16 46.0 49.0 3.0 679 1.81 8.3 5.1
F07-25 62.7 65.8 3.1 494 1.14 5.5 2.8
F07-27 57.8 61.5 3.7 448 2.00 2.5 2.9
F07-30 6.7 10.2 3.5 329 1.39 1.2 2.4
F07-31 26.1 30.7 4.6 503 2.09 2.2 3.0
F07-32 27.2 30.2 3.0 939 1.83 4.5 4.9
F07-33 6.8 11.9 5.1 375 1.90 1.4 3.3

So far, the rich zone of the Haché lens has been followed by drilling over 75 meters laterally and to a vertical depth of 55 meters and remains open at depth and toward East. Drill hole FH12-04 is located at the eastern end of the actual rich zone which corresponds to the intersection of the NW-SE transverse faults and the regional N070° sulphide horizon. The sulphide horizon is followed on the property for a strike length of more than 10 km. Similar rich zones have been drilled at Shaft and Pinetree lenses from 2006 but the previous drilling programs were not designed to test that model.

The Haché West lens

The drilling program also confirmed the presence of a distinct sulphide zone located 30 meters south-west of the Haché lens. Holes FHA12-02 and FHA12-07 intersected the Haché West lens which has been followed by drilling over more than 100 meters laterally and to a vertical depth of 140 meters and remains open at depth. This sulphide lens is composed of semi-massive sulphide mineralization with an average thickness of 3 meters.

Hole FHA12-07, collared at the western extension of the Haché West lens, intersected a high grade silver and gold zone similar to the rich zone hit at the main Haché lens. The new rich zone in that hole grades 280 g/t Ag, 0.70 g/t Au, 1.8% Pb and 2.8% Zn over 4.0 meters and includes a very high grade zone of 579 g/t Ag, 1.42 g/t Au, 3.7% Pb and 5.8% Zn over 1.9 meter.

Table 2: Selected Puma's holes drilled at the Haché West Lens

Hole From (m) To (m) Length (m) Ag (g/t) Au (g/t) Pb (%) Zn (%)
FHA12-02 128.9 133.0 4.1 103 0.11 0.2 2.1
including 128.9 131.0 2.1 175 0.17 0.1 3.4
FHA12-07 51.0 64.4 13.4 89 0.23 0.6 0.9
including 60.5 64.5 4.0 280 0.70 1.8 2.8
including 60.5 61.5 1.9 579 1.42 3.7 5.8
F07-04 93.0 97.3 4.3 88 0.31 0.8 1.6
F07-18 64.2 65.4 1.2 51 0.29 0.3 3.5
F07-20 109.6 114.4 4.8 100 0.20 1.4 3.0
including 110.9 114.4 3.5 118 0.25 1.7 3.8
F08-38 129.6 133.4 3.8 42 0.23 0.6 2.3
F08-45 117.9 121.4 3.5 78 0.30 1.4 1.2
F08-47 74.0 77.4 3.4 95 0.11 1.7 1.9
F08-51 157.8 165.0 7.2 82 0.35 1.4 1.4
including 160.0 163.3 3.3 138 0.73 2.3 2.2
F08-52 189.4 200.0 10.6 84 0.10 1.6 1.9
F08-43 97.0 99.0 2.0 82 0.07 1.4 1.1
F08-57 205.2 211.0 5.8 62 0.30 1.2 2.9

Nicholas-Denys 2012 drilling program

The drilling program at Nicholas-Denys included 11 holes for a total of 1,375 meters. Seven (7) holes for 1,005 meters were collared at Haché lens area and consisted of infill and step-out hole designed to target the high-grade silver and gold zones within the Haché lens and the presence of any new rich zones. The table 3 shows the results of the seven (7) holes drilled at the main Haché lens. The four (4) other holes for 370 meters drilled were located at the Dante lens 2011 new discovery and results are pending.

''All the holes drilled in the Haché area succeeded to intersect significant silver-gold-zinc mineralization and upgraded significantly the understanding of the silver and gold rich zone targets for the entire project. Following the new discovery in the Haché area, a stripping and trenching program is planned to discover the Haché West lens at surface and new targets defined during the current drilling program." Note Marcel Robillard, Puma's President.

Table 3. Results from the current drilling program at Haché lens

Hole Dir. Dip From
(m)
To
(m)
Length
(m)
Ag
(g/t)
Au
(g/t)
Pb
(%)
Zn
(%)
FHA12-01 N160° -45° 24.60 54.90 30.30 33 0.74 0.15 1.70
including 24.60 42.10 17.50 47 1.10 0.20 1.95
including 37.20 42.20 5.00 106 2.80 0.19 5.08
FHA12-02 N160° -45° 78.80 89.95 11.15 72 0.14 0.75 0.80
including 79.75 85.60 5.85 91 0.12 0.97 0.54
including 78.80 81.50 2.70 155 0.20 1.97 2.46
FHA12-02 128.90 133.00 4.10 103 0.11 0.21 2.11
including 128.90 131.00 2.10 175 0.17 0.12 3.40
FHA12-03 N160° -45° 105.00 123.00 18.00 52 0.33 0.18 0.60
including 105.00 105.25 0.25 460 10.05 1.31 0.88
including 114.60 117.80 3.20 181 0.36 0.33 1.50
including 114.60 116.00 1.40 371 0.78 0.31 2.66
FHA12-04 N160° -45° 72.85 87.90 15.05 195 0.74 0.96 2.63
including 72.85 79.20 6.35 446 1.54 2.19 5.78
including 75.60 78.60 3.00 820 2.70 3.50 3.40
including 75.60 77.60 2.00 1,112 3.52 4.58 4.88
FHA12-05 N160° -45° 34.95 35.25 0.30 109 0.06 2.51 2.55
FHA12-05 45.70 46.00 0.30 305 0.20 3.74 3.80
FHA12-05 70.80 71.05 0.25 147 0.31 2.16 1.71
FHA12-05 137.65 137.90 0.25 111 0.15 3.20 2.20
FHA12-06 N160° -45° 70.00 70.25 0.25 93 0.21 1.16 0.75
including 71.65 71.90 0.25 115 0.06 1.49 0.76
including 113.50 114.00 0.50 88 0.38 2.03 2.74
FHA12-07 N160° -45° 34.70 35.40 0.70 137 0.20 1.06 1.28
FHA12-07 51.00 64.40 13.40 89 0.23 0.62 0.94
including 60.50 64.50 4.00 280 0.70 1.81 2.76
including 60.50 62.40 1.90 579 1.42 3.70 5.80

About Puma Exploration

Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company's major assets are the Nicholas-Denys Silver Project and Turgeon Copper Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba. Puma is actually focusing its exploration efforts in New Brunswick, Canada, which has been ranked the best place in the world to conduct mining exploration by the 2012 Fraser Institute Survey. New players such as Trevali Mining Corporation which has initiated production at the Halfmile Mine and Votorantim and which is developing the Murray Brook Deposit are now very active in the area.

Learn more by clicking here: www.pumaexploration.com

The contents of this press release were prepared by Dominique Gagné, 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. 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.

Contact Information