RIMOUSKI, QUEBEC--(Marketwired - Feb. 25, 2015) - Puma Exploration (TSX VENTURE:PUM)(SSE:PUMA) is pleased to announce the results of its 2014 year-end drill program that led to the discovery of a high grade zinc massive sulphide lens at its 100% owned Volcanogenic Massive Sulfide (« VMS ») Turgeon project in northern New Brunswick. A 3D representation of the new zone is available in a copy of this news release at www.explorationpuma.com.
The highlight of the drill program was an intercept of massive sulphides grading 5.66% Zn, 0.38% Cu and 2.3 g/t Ag over 6.8 metres starting downhole at 219.1 meters and includes 10.05% Zn and 0.23% Cu over 2.7 metres within a 292 metre intercept of an anomalous zinc mineralization halo that grades 0.32% Zn (Drill Hole FT14-05).
To view the map 1, please visit the following link: http://media3.marketwire.com/docs/3DModelTurgeon.pdf
The primary objective of the 2014 drill program was to identify prospective rock sequences characterized by strong hydrothermal chloritic alteration and to intercept anomalous Zn grades over mineable widths. Both objectives were achieved indicating renewed VMS potential north of the Bathurst mining camp known for the Brunswick No.12 mine that produced a life of mine average grade of 8.82% Zn ore during the first 30 years of production, not including the lead, copper, and silver byproducts.
The 2014 Turgeon exploration drilling program comprised six (6) drill holes for a total of 1,378 meters. Downhole Induced Potential and Electromagnetic geophysical surveys were also completed. A total of 17 trenches were sampled at surface and integrated into an exhaustive review of previously drilled holes and detailed mapping of the area then this compilation was used for drill hole targeting.
New Dragon Cu-Zn VMS Zone
The Dragon Zone was discovered in late-2013, approximately 200 meters south of the main Powerline and Zinc Zones (See map). Drillhole FT13-13 intersected 4 meters of massive sulphide mineralization grading 1.01% Cu and 0.78% Zn, these grades are similar in grade to the previously identified massive sulphide zones at Turgeon. The autumn 2014 drill program consisted of six (6) holes. Three (3) targeted to test a previously discovered mineralized volcanic sequence, specifically copper stockworks. and three (3) holes targeted specifically to discover extensions to the Dragon Zone.
The drill holes targeted on the Dragon Zone all intersected mineralized volcanics with intense hydrothermal alteration. In drillhole FT14-05 a 115 meter intersection of hydrothermally altered rock was intercepted between 188 and 303 meters, grading 0.53% Zn and 0.10% Cu, including 1.13% Zn and 0.10% Cu over 44.1 meters.
To view the map 2, please visit the following link: http://media3.marketwire.com/docs/GeologyTurgeon.pdf
The mineralization consists of decimetric to metric thick horizons of massive sulfides alternating with semi-massive to disseminated mineralization horizons. The sulphides consist of pyrite, sphalerite and chalcopyrite. Noteworthy, the three (3) Dragon Zone holes also indicate the presence of a significant mineralized alteration halo. Drillholes FT14-05, FT13-13 (deepened) and FT14-04 respectively intersected 0.32% Zn over 292.0 metres, 0.17% Zn over 117.6 meters and 0.15% Zn over 43.6 meters. These considerable thicknesses are indicative of a significant mineralized system that requires further drilling to verify and outline any potential mineral resource.
Drillholes FT14-01, FT14-02 and FT14-03 each intercepted copper stockwork horizons 100 meters northeast of the new Dragon zone and 75 meters southwest of the Powerline and Zinc Zones. The mineralization presents itself in the form of chalcopyrite veinlets within chloritized basalt host rock. This type of mineralization is common to VMS deposits and may indicate a feeder zone that is spatially related with the deposition of massive sulphide horizons.
Puma also intersected the extension of the zinc zone at surface in drillhole FT14-02 with an intersection of 2.05% Cu over 3.4 meters at 2.4 meters downhole, including 10.3% Cu over 0.45 meters. Drillhole FT14-03 intersected at a vertical depth of 77 meters 0.74% Zn over 4.5 meters.
Marcel Robillard, President of Puma Exploration notes; « The presence of a new high grade VMS zone within the Dragon Zone is extremely encouraging and sets high objectives for future exploration results. The Turgeon project remains a priority based on recent exploration results and the outstanding regional location with an infrastructure framework which includes the deepwater port of Belledune located 5 km away, the adjacent Xstrata smelter, a well developed paved road network and the nearby availability of skilled labour. »
Table 1. Results from 2014 drilling program
| Hole | Area / Type | Az. | Dip | Long. | From | To | Long. | Cu | Zn | Ag | |
| - | (degrees) | (degrees) | (m) | (m) | (m) | (m) | (%) | (%) | (g/t) | ||
| FT14-01 | Stockwork Cu | -45 | N255 | 276 | 122.70 | 127.00 | 4.30 | 0.56 | - | ||
| incl. | 122.70 | 123.90 | 1.20 | 1.17 | - | ||||||
| 172.00 | 172.80 | 0.80 | 1.44 | - | |||||||
| FT14-02 | Ext. Zinc Zone | -45 | N255 | 297 | 2.40 | 5.80 | 3.40 | 2.05 | - | ||
| incl. | 3.60 | 5.80 | 2.20 | 2.95 | - | ||||||
| incl. | 4.30 | 5.80 | 1.50 | 4.13 | - | ||||||
| incl. | 4.30 | 4.75 | 0.45 | 10.30 | - | ||||||
| Stockwork Cu | 150.40 | 164.80 | 14.40 | 0.27 | - | ||||||
| incl. | 150.40 | 150.80 | 0.40 | 1.05 | - | ||||||
| incl. | 162.40 | 164.80 | 2.40 | 0.93 | - | ||||||
| FT14-03 | Ext. Zinc Zone | -50 | N255 | 252 | 110.30 | 114.80 | 4.50 | - | 0.74 | ||
| incl. | 113.90 | 114.80 | 0.90 | - | 2.74 | ||||||
| incl. | 113.90 | 114.40 | 0.50 | - | 4.21 | ||||||
| Stockwork Cu | 196.40 | 207.20 | 10.80 | 0.17 | - | ||||||
| FT14-04 | Dragon (fault) | -45 | N180 | 219 | 20.00 | 22.40 | 2.40 | 0.43 | - | 9.70 | |
| Dragon (halo) | 7.00 | 50.60 | 43.60 | - | 0.15 | ||||||
| 98.70 | 109.50 | 10.80 | - | 0.38 | |||||||
| 188.80 | 190.00 | 1.20 | - | 1.08 | |||||||
| FT14-05 | Dragon (halo) | -45 | N178 | 378 | 48.80 | 340.80 | 292.00 | - | 0.32 | ||
| incl. | 48.80 | 97.00 | 48.20 | - | 0.34 | ||||||
| incl. | 74.00 | 93.40 | 19.40 | - | 0.58 | ||||||
| incl. | 79.00 | 88.60 | 9.60 | - | 0.74 | ||||||
| incl. | 87.40 | 88.60 | 1.20 | - | 1.23 | ||||||
| incl. | 327.60 | 340.80 | 13.20 | - | 0.71 | ||||||
| incl. | 327.60 | 333.60 | 6.00 | - | 0.86 | ||||||
| incl. | 332.40 | 333.60 | 1.20 | - | 1.12 | ||||||
| incl. | 339.60 | 340.80 | 1.20 | - | 1.37 | ||||||
| FT14-05 | Dragon MS | incl. | 219.10 | 263.70 | 44.60 | - | 1.13 | ||||
| incl. | 219.10 | 249.00 | 30.00 | - | 1.57 | ||||||
| incl. | 219.10 | 231.90 | 12.80 | 0.22 | 3.12 | ||||||
| incl. | 219.10 | 225.90 | 6.80 | 0.38 | 5.66 | ||||||
| incl. | 221.45 | 225.90 | 4.45 | 0.17 | 6.51 | ||||||
| incl. | 223.20 | 225.90 | 2.70 | 0.23 | 10.05 | ||||||
| incl. | 224.40 | 225.90 | 1.50 | 0.21 | 12.64 | ||||||
| FT14-05 | Stockwork Cu | 272.10 | 293.00 | 20.90 | 0.23 | - | |||||
| incl. | 272.10 | 274.10 | 2.00 | 0.77 | - | ||||||
| 291.10 | 293.00 | 2.00 | 1.02 | - | |||||||
| 315.60 | 342.00 | 26.40 | - | 0.44 | |||||||
| FT13-13 | Dragon (halo) | -45 | N180 | 300 | 37.40 | 155.00 | 117.60 | - | 0.17 | ||
| Extension | incl. | 102.20 | 155.00 | 52.80 | - | 0.22 | |||||
| Dragon (fault) | 37.40 | 39.40 | 2.00 | 0.78 | 1.37 | ||||||
| Dragon MS | 151.00 | 155.00 | 4.00 | 1.01 | 0.79 | ||||||
| Dragon (halo) | 241.40 | 244.20 | 2.80 | 0.29 | - | ||||||
| 243.00 | 264.60 | 21.60 | - | 0.20 |
Puma is greatly encouraged by the results of the 2014 drill program at the Turgeon Project. The results not only identified the extension of the Dragon Zone with high grade Zn values, but also established the existence of a new fertile volcanogenic massive sulphide mineralization system. The continuity of the Dragon Zone is now established to the southwest and confirmed at surface for an additional 70 meters of strike length and down to a vertical depth of 150 meters.
Puma is currently preparing drill pad locations for the initial 2015 drill program at Turgeon to follow up the excellent 2014 drilling results and the recent downhole geophysical survey results. This upcoming drill program will incorporate step-out targets to further extend the Dragon Zone strike length to the southwest and the new off-hole targets identified by downhole geophysics. Puma is fully financed to carry out this aggressive drill program at Turgeon and is looking forward to providing future updates.
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 Project and Turgeon Copper Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba. Puma is curently focusing its exploration efforts in New Brunswick, Canada.
Learn more about by clicking here: www.pumaexploration.com.
Puma will be exhibiting at the PDAC 2015. Come and meet the team at the booth 2537 of the Investors Exchange floor.
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:
Puma Exploration
(418) 724-0901
president@explorationpuma.com
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