RIMOUSKI, QUEBEC--(Marketwired - Jun 26, 2014) - Puma Exploration (TSX VENTURE:PUM) announces that it has commenced exploration programs on its Nicholas-Denys Porphyry System and Turgeon Cu-Zn VMS system in New Brunswick.
This summer, several programs will be undertaken on the large, 34 km2 Nicholas-Denys property which is located 15 kms from the town of Bathurst. The first program is well underway and consists of a downhole IP survey using the first two 2014 drillholes of the planned 15 holes summer program into the 4 km diameter granodiorite porphyry target. Two of the early 2014 drillholes successfully intersected significant intervals of molybdenum, copper and silver. (Press Release May 21, 2014). The field portion of the downhole IP survey is completed and the raw data processing is well underway. Results are pending and we expect drilling operation to resume following the receipt of the survey results and final interpretation.
Puma has also commenced the third phase of the trenching and stripping program on the 10 km long Nicholas-Denys skarn horizon and silver belt which lies adjacent to the southern rim of the intrusion. There is strong geological evidence that the silver, copper and zinc skarns are genetically related to the intrusion. The stripping and trenching programs will occur in two sections located at the east and west ends of the skarn where re-interpreted geophysical results indicate prospective target zones. It is expected that continuous trenching and stripping exploration will be conducted at Nicholas-Denys over the entire summer and into autumn.
At Puma's Turgeon VMS property, located 10 kms north of Nicholas-Denys, a follow-up program is being conducted following the recent and successful drill program. This recent drill program discovered a new, near-surface VMS system: the Dragon zone. Based on drill intercepts of copper and zinc grades, the Dragon zone is interpreted to be the edge of a pervasive VMS system that occurs in the same volcanic unit that is host to previously discovered mineralization and which is defined by a large zinc mineralization halo. The follow-up program consists of a seven borehole EM survey designed to define the extension of the massive sulphide recently intersected in drill hole FT13-13. (Press Release April 29, 2014). The field portion of the survey has been completed and the processed data results should be available soon for re-evaluation and to design the follow-up drill program.
About Nicholas-Denys
Nicholas-Denys is located in mining friendly New Brunswick, near sea level in the established Bathurst mining camp which welcomes employment opportunities. The property is located 15 kms from the city of Bathurst and 20 kms from a deep-water Atlantic port and the nearby Glencore Xstrata smelter at Belledune.
It is also located 10 kms south of Puma's Turgeon copper-zinc VMS exploration project. Access is excellent with a commercial airport near Bathurst, a nearby railroad and with paved roads running through the property. The project consists of three genetically and spatially related plays: the large 4 km diameter ND porphyry intrusion, the adjacent 10 km long Main Fault zone including the skarn horizon and, about 1 km to the southeast, the parallel 10 km long Rocky Brook mineralized Ag-Au-Pb-Zn fault corridor.
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.
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.