RIMOUSKI, QUEBEC--(Marketwired - Apr 29, 2014) - Puma Exploration (TSX VENTURE:PUM) has discovered a new near-surface (100m deep) VMS system at its 100% Turgeon Copper-Zinc project in New Brunswick. These finds were recently generated by a 15 hole, 2017 meter drill program designed to target IP, EM and magnetic geophysical anomalies within 500 meters of the main deposits.
The new system discovered, named the Dragon Zone, is located only 200 meters south-west of the main Powerline and Zinc Zone deposits and occurs in an area that has received very limited drilling. Hole FT13-13 intersected four meters of massive sulphide grading 1.01% Cu and 0.78% Zn which is similar in grade to the massive sulphide zones intersected throughout the adjacent main deposits at Turgeon. This zone is interpreted to be the edge of an pervasive VMS system that occurs in the same volcanic unit that shows a significant zinc mineralization halo over a plus 100 meter intersection in drillhole FT13-12 with 0.16% Zn over 161 meters and drillhole FT13-15 with 0.11% Zinc over 114.9 meters.
Another area of interest is located 100 meters west of the new Dragon Zone and is currently defined by holes FT13-01, FT13-08 and FT13-10. It also displays significant zinc mineralization with 0.23% Zinc over 139.8 meters (FT13-01) and 0.20% Zinc over 52.1 meters (FT13-10). While extremely encouraging, the results are preliminary and this new zone will require additional drilling to fully test its potential and its location in the Turgeon volcanic pile.
Significant drill results from the recent Turgeon program are presented below in Table 1. A drillhole location map showing the various mineralized zones and the entire results of the program are available at www.pumaexploration.com
Table 1 : Significant drill results at Turgeon.
| Hole |
From |
To |
Length |
Ag |
Cu |
Zn |
| # |
(m) |
(m) |
(m) |
ppm |
% |
% |
| FT13-01 |
4.30 |
144.10 |
139.80 |
0.4 |
0.03 |
0.23 |
| including |
4.30 |
8.20 |
3.90 |
1.6 |
0.08 |
1.56 |
| including |
89.15 |
92.80 |
3.65 |
3.1 |
0.25 |
0.57 |
| FT13-08 |
67.80 |
120.90 |
53.10 |
0.3 |
0.04 |
0.13 |
| FT13-10 |
8.30 |
60.40 |
52.10 |
0.2 |
0.02 |
0.20 |
| FT13-12 |
4.00 |
165.00 |
161.00 |
0.2 |
0.03 |
0.13 |
| including |
61.35 |
65.35 |
4.00 |
0.5 |
0.21 |
0.56 |
| including |
141.20 |
144.60 |
3.40 |
0.2 |
0.08 |
1.40 |
| FT13-13 |
3.00 |
172.50 |
169.50 |
0.3 |
0.05 |
0.12 |
| including |
37.40 |
41.80 |
4.40 |
4.0 |
0.52 |
0.66 |
| including |
151.00 |
155.00 |
4.00 |
0.6 |
1.01 |
0.79 |
| FT13-15 |
9.50 |
124.40 |
114.90 |
0.2 |
0.04 |
0.10 |
Marcel Robillard, President of Puma Exploration, commented : «The discovery of the new VMS system within several hundred meters of the main known deposits at Turgeon is considered to strongly validate our strategy at Turgeon and suggests there is potential for the discovery of additional zones within the 3 km long favourable geological corridor defined by the current program.
Commenting further on Puma's exploration in New Brunswick, Mr. Robillard added : « We are truly fortunate to have developed two outstanding properties in the Bathurst area. Puma's technical team is currently planning a 2014 work program for Turgeon to follow up and develop additional near-surface VMS style mineralization. The Turgeon property is located within a few kilometers of a deep water port and an Xstrata smelter which provide an unparalleled infrastructure advantage compared to similar projects around the world. Additionally, our large Nicholas-Denys copper-moly-silver porphyry and skarn project located nearby is also generating positive results. We currently await assay results from our recent drill program conducted in March and early April 2014 and which targeted specific geophysical anomalies within the main porphyry intrusion. The drill program on the porphyry was temporarily suspended due to spring melting conditions and will resume as soon as ground conditions are suitable."
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 focusing now its exploration efforts in New Brunswick, Canada.
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.