RIMOUSKI, QUÉBEC--(Marketwired - April 18, 2017) - Puma Exploration Inc. (TSX VENTURE:PUM)(SSE:PUMA) (the "Company" or "PUMA") has secured strategic land holdings at the Murray Brook Project by staking 86 additional claims (2,000 ha) that cover the favourable rock formation hosting the operating Caribou Mine (Trevali Mining Corporation), the Murray Brook Deposit as well as the past operating Restigouche Mine.
The new claims (100% Puma) are located west and contiguous to the Murray Brook Mining Lease (252) toward the past operating Restigouche Mine over a strike length of six (8) kilometers. It covers drill-ready targets contained within a similar geological setting as the Murray Brook Deposit. Puma's geologists are currently compiling the available data to prioritize surface targets to be explored.
"The new acquisition strengthens Puma's holdings in the Murray Brook area and secures its strategic land positioning between the Caribou and Restigouche Mines, at this particular time of intense activity with the present claim rush happening in New Brunswick where approximately 4,000 new claims (86,783 hectares) have been staked over the past 3 months. Puma currently holds 67.9 per-cent beneficial interests in the Murray Brook Property and is committed and confident to acquire the remaining 32.1% from El Nino Venture. Thus, Puma will control 100% interest over more than 18 kilometers of prime mining claims in one of the best Zinc potential areas in Canada" notes Marcel Robillard, Puma's President.
In addition, Puma has launched a Preliminary Economic Assessment (PEA) on its Murray Brook Deposit. The updated PEA will assess the best means of extracting mineralization and examine whether the project should start out as an open pit and later divert to underground operations or begin with an outright underground scenario. As well, the report will place an initial capital expenditure figure on the project. Different mining scenarios are possible at Murray Brook since the Deposit starts at surface to 300 meters in depth with the higher grade zone located between 200-300 meters deep.
About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company's major assets are the 67.9 per-cent beneficial interests in the Murray Brook Property, the Turgeon Zinc-Copper Project, the Nicholas-Denys Project in New Brunswick and an equity interest in Black Widow Resources related to the Little Stull Lake Gold Project in Manitoba. In 2017, Puma will direct all of its efforts on the Company's three (3) main base metal projects in New Brunswick which consist of the Murray Brook, Turgeon and Nicholas-Denys projects with emphasis given to the Murray Brook Property.
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The contents of this press release were prepared by Marcel Robillard, P.Geo., a Qualified Person as defined in NI 43-101. 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.