Puma Exploration Inc.
TSX VENTURE : PUM

Puma Exploration Inc.

April 07, 2011 08:37 ET

Puma Exploration: Silver and Gold Intersected in the First Six Holes Drilled in 2011 at Nicholas-Denys, Bathurst Mining Camp, New Brunswick

RIMOUSKI, QUEBEC--(Marketwire - April 7, 2011) - Puma Exploration (TSX VENTURE:PUM) announces the results of the first six holes drilled in 2011 at Nicholas-Denys Silver Project, New Brunswick. All the holes intersected from one to eight silver and gold rich veins and confirmed that the geophysical anomalies are associated with sulphide mineralization. These veins vary in thickness from 25 to 65 centimetres and contain high grade silver and gold such as 284 g/t Ag and 4.8 g/t Au over 0.25 meters and 201 g/t Ag and 4.7 g/t Au over 0.25 meters.

The drilling program consisted of six holes for a total of 1,030 meters in the Henry area, which is located 2km west of Puma's previous major programs. The holes were designed to verify the InfiniTEM geophysical anomalies detected during the fall 2010 program (press release 04/11/2010) and to locate the main structural features controlling the mineralization at Nicholas-Denys such as the Rocky Brook- Millstream fault and the associated transverse faults.

Table 1. Selected gold and silver results from the 2011 drilling program at Nicholas-Denys

Hole Azm Dip From   To   Length*   Au Ag Pb+Zn
      (m ) (m ) (m ) g/t g/t %
FH11-01 N160° 45° 161.30   161.60   0.30   1.3 8 1.8
      198.70   199.00   0.30   1.7 4 0.4
      208.70   209.20   0.50   2.2 1 0.7
      306.40   306.70   0.30   0.7 80 6.9
FH11-02 N160° 45° 150.00   150.25   0.25   4.8 284 16.2
FH11-03 N160° 45° 44.90   45.15   0.25   1.5 188 4.9
      82.15   82.45   0.30   0.5 112 1.6
      182.20   182.50   0.30   0.3 103 2.6
      218.30   218.60   0.30   2.0 88 2.0
FH11-04 N160° 45° 92.25   92.90   0.65   3.1 15 0.4
      95.50   95.90   0.40   1.6 25 0.4
      96.35   96.60   0.25   2.3 79 2.4
      98.30   98.65   0.35   2.3 22 0.5
      99.40   99.70   0.30   4.6 37 0.5
      103.10   103.40   0.30   4.3 16 0.5
      104.40   104.70   0.30   1.3 3 0.1
      105.60   105.90   0.30   1.5 7 1.0
FH11-05 N160° 45° 9.90   10.40   0.50   0.8 93 1.5
      11.75   12.00   0.25   1.6 185 3.5
      13.50   14.00   0.50   0.2 98 1.8
      19.25   19.70   0.45   0.5 97 3.3
      35.40   35.65   0.25   1.1 39 0.8
FH11-06 N160° 45° 38.30   38.55   0.25   4.7 201 1.0
      59.90   60.15   0.25   1.3 172 3.2
      60.40   60.65   0.25   0.4 183 2.2
      63.80   64.05   0.25   0.5 304 3.4
      64.05   64.45   0.40   1.8 278 0.9
 
* Interval reported is the sample width and may not represent true thickness of the veins

The mineralization encountered in the current drilling program is similar to the mineralization found in the extension of the main Haché, Shaft and PineTree lenses and represents an important feature of the discovery model at Nicholas-Denys.

The Haché lens has been drilled more extensively and is used as a model to direct exploration work on the property. On each side of the Haché lens, within 25-50 meters, similar 0.2 to 1.0 meter gold and silver rich veins are present and delineate the core of the lens which has an apparent thickness of 30 meters with grades such as 225 g/t Ag and 1.2 g/t Au over 29.1 meters and 130 g/t Ag and 0.9 g/t Au over 31.0 meters.

Table 2. Selected gold and silver results at close proximity of the known lenses at Nicholas-Denys

Hole From   To   Length   Au Ag Pb+Zn     Location to the lenses
  (m ) (m ) (m ) g/t g/t (% )    
F08-82 72.80   73.00   0.20   0.06 218 13.6     West of Haché
F08-83 125.00   125.20   0.20   8.92 258 8.7     West of Haché
F08-57 205.20   206.00   0.80   0.40 217 10.4     West of Haché
F08-03 43.70   44.20   0.50   2.64 203 2.7     Between Haché and Shaft
F08-33 99.30   99.45   0.15   0.21 326 14.2     Between Haché and Shaft
F08-35 25.00   26.00   1.00   3.55 211 1.2     Between Haché and Shaft
F08-55 65.90   66.30   0.40   3.56 271 6.0     Between Haché and Shaft
F08-12 80.60   80.90   0.30   1.27 694 9.2     Between Haché and Shaft
F08-12 88.35   88.60   0.25   0.39 442 18.8     Between Haché and Shaft
F08-21 283.10   284.00   0.90   1.17 564 5.1     Between Haché and Shaft
F08-48 272.80   273.10   0.30   0.94 330 15.5     Between Haché and Shaft
F08-39 303.40   303.70   0.30   1.14 604 13.4     Between Haché and Shaft
F08-49 203.00   203.80   0.80   0.29 330 15.7     East of Shaft
F05-21 103.55   103.80   0.25   6.57 209 9.9     East of Shaft
PT09-03 71.30   71.80   0.50   2.14 203 19.9     West of PineTree
F05-19 76.50   77.05   0.55   0.71 227 13.7     West of PineTree

The current drilling program also defined the position of the Rocky Brook-Millstream Fault. This fault has been followed by drilling, over a distance of 5.5 km and contains gold mineralization over the entire length. Holes FH11-02, FH11-03 and F11-04 confirmed the gold enrichment of the fault with respectively 4.84 g/t over 0.25m, 1.51 g/t Au over 0.25m and 1.72 g/t Au over 1.4m. The Rocky Brook-Millstream Fault played a major role in the precious metals enrichment of the sulphide lenses discovered at Nicholas-Denys so far and it is usually located within 75 meters of the main sulphide lenses.

"We are very pleased with the results of this first round of drilling in the Henry area at Nicholas-Denys which extends the known mineralization over a strike length of 2 km. Ample information has been gathered to allow future work to expand the existing lenses and to discover new mineralized lenses over the entire 7km long favourable stucture." stated Marcel Robillard, President of the Puma Exploration.

InfiniTEM® geophysical survey

The InfiniTEM® survey was carried out in October 2010 for 19.6 line-km and covered from the Shaft to Henry lenses. A total of twelve anomalies were identified from the InfiniTEM® ground survey (EM-01 to EM-12).

Their sources indicate weak to good conductors steeply dipping and extending in some case for more than 500 m at depth. The main feature detected in the geophysical survey is the anomaly EM-05 which corresponds to the Haché and Shaft lenses. This anomaly has been trace for more than 3.1 km to the east, from the known Shaft lens toward the Henry lens. Two deep holes (FH11-01 and FH11-03) were drilled in the Henry area. These holes were designed to verify this anomaly but also to conduct a borehole InfiniTEM survey to better locate the source of the anomaly which extends from the surface to a depth of 500 meters. From the 12 anomalies detected over the entire survey length of 3.5 km, only five have been verified by the current drilling program and correspond to sulphide mineralization.

Current Nicholas-Denys Exploration Program

As soon as the field conditions are favourable, a major exploration program will be undertaken on the Nicholas-Denys property and will include, line cutting, surface and borehole geophysical surveys, trenching and drilling. This program will cover around 7 km of strike-length of the favourable structure hosting so far, from east to west, the Pinetree, Shaft, Haché, Henry and Great Northern lenses.

About Nicholas-Denys

The Nicholas-Denys property is located only 20 kilometres north of Bathurst and is part of the Bathurst Mining Camp of northern New Brunswick. The property is accessible by road all year round and is intersected by a power line. The Nicholas-Denys property is 6,750 hectares and is part of Puma's 10,476 hectares holdings that includes also the Turgeon Copper Project.

Details of Puma projects are available at www.explorationpuma.com

The contents of this press release were prepared by Marcel Robillard, 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. The previous holes referred to in this press release have been released previously. 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. In particular, this press release contains forward-looking statements relating to the timing and details of the current drilling program. 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. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Puma Exploration Inc. and its management. 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.

A map of the 2011 Drilling Program over the 2010 InfiniTEM survey is available at the following address: http://file.marketwire.com/release/puma_0407.jpg

Contact Information

  • Puma Exploration
    Marcel Robillard
    President
    418-724-0901
    president@explorationpuma.com
    or
    Investor Relations
    Van: 604-685-1343
    Mtl: 514-813-7862