Puma Exploration Inc.
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Puma Exploration Inc.

February 10, 2016 10:13 ET

Puma Trenches 3.7% Cu at Turgeon Cu-Zn VMS Project in New Brunswick

RIMOUSKI, QUEBEC--(Marketwired - Feb. 10, 2016) -

Editors Note: There are two maps associated with this press release.

Puma Exploration (TSX VENTURE:PUM) reports the 2015 fall exploration program at Turgeon Cu-Zn VMS project in northern New Brunswick. The Program at Turgeon was directed to locate precisely the extension of the favourable fertile mafic volcanic horizon hosting the known mineralized zones at Turgeon. The work also included the trenching and stripping of additional surface targets which lead to the discovery of a new copper showing grading up-to 3.7% Cu in the vicinity of the Zinc Zone Lens and the stripping of the previous Jaspe Copper showing grading 21% Cu et 26% Cu.

2015 Fall Exploration Program Highlights:

  • Completion of 18 line-kilometers of Geophysical IP Orevision ground survey in collaboration with Abitibi Geophysics;
  • Completion of an alteration study including the sampling of 243 outcrops located from the Dragon Zone toward southwest direction to locate the favourable volcanic horizon hosting the mineralized VMS;
  • Excavation of seven (7) trenches for a total of 300 meters mainly located between the Zinc Zone and the Dragon lenses;
  • Significant Cu stockwork mineralization zone discovered at surface in trench TT15-05 located at the end of the Zinc Zone area and correlating with drilling results at depth including 2.2% Cu over 2.1m (FT15-01) and 1.2% Cu over 2.4m (FT15-03);
  • Stripping and sampling of previous copper showing "Jaspe Copper" revealing the highest copper grade collected at surface with 21% Cu and 26% Cu.

Seven (7) strategic trenches have been undertaken to explore new surface targets and to define the alteration of the mafic volcanic which host the main mineralized lenses at Turgeon. More than just locate the favourable horizon, the trenching program expose a significant Cu stockwork mineralization zone discovered at surface at the end of the Zinc Zone area and correlating with drilling results at depth including 2.2% Cu over 2.1m (FT15-01) and 1.2% Cu over 2.4m (FT15-03). The samples collected in this area (TT15-06) return assays between 1.15% Cu to 3.72% Cu. Also, the field crew has been able to relocate and sample the known Jaspe copper showing found in 1961. The sampling of the "Jaspe Copper" showing revealed the highest copper grade collected at surface at Turgeon with 21% Cu and 26% Cu.

Table 1: Selected samples collected during the trenching program

Sample Trench Rock Cu (%) Zn (%) Ag (g/t)
P160676 TT15-02 Ftb 0.03 0.82 2.6
P160677 TT15-02 Brx Bas 0.02 0.41 0.6
P160686 TT15-02 Brx Bas 0.13 0.89 1.1
P160687 TT15-02 Brx Bas 0.05 0.97 0.7
P160690 TT15-06 Amy Bas 1.04 0.04 4.4
P160691 TT15-06 Amy Bas 0.75 0.05 3.0
P160692 TT15-06 Brx Bas 0.11 0.06 0.9
P160693 TT15-06 Brx Bas 1.15 0.04 1.9
P160694 TT15-06 Brx Bas 2.00 0.03 7.0
P160695 TT15-06 Brx Bas 3.72 0.02 11.8
P193482 TT15-07 Ftb 0.22 1.39 9.7
P193485 TT15-07 SMS-MS 21.10 0.04 44.0
P193486 TT15-07 SMS-MS 26.20 0.03 41.6

Also, to identify the best area within the favourable mafic volcanic horizon, Puma proceeded with an alteration study including 243 samples collected from outcrops and handmade pits. The samples were collected systematically at every 25 meters on a 50 meters spaced grid. The grid covers an area of 600 meters by 500 meters (30 hectares) from the Dragon Zone toward southwest to locate the favourable volcanic horizon hosting the known mineralized lenses within an underexplored area of the property.

A deep IP geophysical ground survey, The OreVision has been conducted on the three (3) known main mineralized zones named: Powerline, Zn Zone and Dragon and has been extended for more than 500 m to the southwest along the favourable volcanic mafic horizon. The survey corresponds to the double of the length of the actual mineralized footprint. This survey added to the alteration survey and the detailed mapping of the project will be used to define the targets to be drilled.

Also, Puma field crews were also mobilized to prepare sites for the drilling program. The drilling targets consist of higher grade Zn-Cu zones in the heart of the newly discovered Dragon Zone and also to verify new mineralized lenses in the southwestern extension of the Dragon Zone where the geophysical survey and the alteration study were completed. The drill set-up work has been delay following the reading of the first line of geophysical survey showing promising target at the South East End of the grid.

About the Turgeon VMS Property

The Turgeon property is located within a few kilometers of the deep water port of Belledune. The project is accessible by road all year round, and is crossed by a power line. The Dragon Zone was discovered in late-2013, approximately 200 meters south of the main Powerline and Zinc Zones. Drillhole FT13-13 intersected 4 meters of massive sulphides grading 1.01% Cu and 0.78% Zn. The autumn 2014 drill program included a massive sulphide intercept grading 5.66% Zn, 0.38% Cu and 2.3 g/t Ag over 6.8 metres starting downhole at 219.1 meters and including 10.05% Zn and 0.23% Cu over 2.7 metres. (Drillhole FT14-05). The surface expression of the Dragon zone is 300 meters long by 75 meters wide within the favorable corridor that extends for at least 2km along strike in each direction from the Dragon zone.

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 the Turgeon Copper Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba. Puma is focusing now its exploration efforts in New Brunswick, Canada.

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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.

Maps are available at the following addresses:

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