Press
Release
Drilling begins on the Little Stull
Lake gold deposit, Manitoba
Rimouski, June 19, 2007 – Puma
Exploration (PUM-TSXV) has announced the launch of a 3,000-metre drilling
campaign on the Little Stull Lake gold deposit, located in northeastern Manitoba. In 1989, it
has been estimated to contain a historical resource of a little over 250,000 ounces
of gold by Westmin Resources. The first objective of the drill program is to
confirm the resources estimated in 1989, using the new 43-101 standards. The
exploration target for this project is to outline a gold deposit containing at
least one million ounces of gold.
At the end of
1991, some 200 holes totaling 30,500 metres had identified five gold-bearing
lenses over a distance of about 2
km. In 1988, Westmin had defined a historical resource
of 373,900 tonnes @ 10.0 g/t Au (high grades being cut to 34.3 g/t). At the
conclusion of the last phase of drilling in 1991, Westmin estimated potential
resources of 750,000 tonnes @ 10.3 g/t Au: a total of slightly more than 250,000 ounces
of gold. These historical resource calculations were carried out before the
establishment of the 43-101 standards, and whether Puma's program will confirm
these estimated resources or increase them remains uncertain.
Several veins
containing high-grade gold mineralization have been intersected during the
drilling. Eighteen of the holes drilled have intersected very rich
mineralization containing more than 30 g/t of gold over a length of at least one metre of core.
All the boreholes were drilled at a 45� angle.
Borehole
|
From (m)
|
To (m)
|
Length (m)
|
Au g/t
|
LS-3
|
31.1
|
32.1
|
1.0
|
35
|
LS-19
|
169.0
|
170.0
|
1.0
|
39
|
LS-31
|
78.0
|
79.0
|
1.0
|
202
|
LS-46
|
72.0
|
73.0
|
1.0
|
68
|
LS-47
|
92.0
|
93.0
|
1.0
|
124
|
LS-70
|
20.0
|
21.0
|
1.0
|
330
|
LS-74
|
105.0
|
106.0
|
1.0
|
72
|
LS-82
|
64.3
|
65.3
|
1.0
|
191
|
LS-86
|
54.0
|
55.0
|
1.0
|
76
|
LS-92
|
127.0
|
128.0
|
1.0
|
42
|
LS-114
|
27.0
|
28.0
|
1.0
|
43
|
LS-122
|
41.0
|
42.0
|
1.0
|
255
|
LS-122
|
38.0
|
39.0
|
1.0
|
42
|
LS-123
|
124.0
|
125.0
|
1.0
|
62
|
LS-125
|
290.0
|
291.0
|
1.0
|
45
|
LS-133
|
210.4
|
211.4
|
1.0
|
34
|
LS-156
|
133.0
|
134.0
|
1.0
|
50
|
LS-175
|
262.0
|
263.0
|
1.0
|
49
|
The drilling
carried out on the property has led to the discovery of high-grade gold
mineralization in an Archean greenstone belt of the Superior
geological province. The gold mineralization is mainly confined to quartz veins
in a brecciated basalt 25 to50 metres thick.
This unit can be traced on surface for more than 5 km: it coincides with a
major regional fault more than 60
km in length.
The Little
Stull Lake property is located only 15 km north of the Monument Bay deposit owned by Rolling Rock
Resources, which contains more than 700,000 ounces of
gold at 6.45 g/t Au, in a similar geological setting.
This resource estimate, which is compliant with NI 43-101, was carried out by
Wardrop Engineering in June 2006.
Puma has
entered into an agreement with Tanqueray Resources Ltd. (TQY-TSXV) giving it
the option to acquire a 51 % interest in the Little Stull
Lake property, comprising 20 contiguous claims with an area of about 30 km2.�
Puma is the operator for the work on this gold property. Exploration expenses
totaling $100,000 will meet the work requirements under this option agreement.
About Puma:
Exploration
Puma is a public mineral-exploration corporation (PUM-TSXV) engaged in the
discovery, detailed exploration, and development of mining projects in Canada.
Puma's efforts are focused on its Nicholas-Denys (New
Brunswick) and Little Stull Lake (Manitoba) projects.
In addition,
Puma Exploration holds 100% of the mineral rights on the Edmund property,
located at the west end of the Little Stull Lake deposit; this gives Puma
control over more than 25 km
of the greenstone belt, including the shear zone that hosts the gold
mineralization.
Visit our new website: www.explorationpuma.com
The contents of
this press release were prepared by geologist Marcel Robillard, a
qualified person as defined in NI 43-101.� The TSX Venture Stock Exchange
disclaims any responsibility for the veracity and accuracy
of this release.
-30-
For information:
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Andr� Proulx
President
Telephone: 418-724-0901
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Christian Guilbaud
Public Relations Officer
Telephone: (514) 813-7862
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info@explorationpuma.com
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