On Track for a New Mine
Discovery and development of precious metals - New Brunswick & Manitoba
Message: News- core sampling found Cu over 300 m
RIMOUSKI, QUEBEC--(Marketwire - Feb 21, 2013) - Puma Exploration (TSX VENTURE:PUM) is pleased to announce the results of a major core sampling program conducted at Turgeon Cu-Zn deposit, New Brunswick. Puma collected more than 2,200 samples from earlier exploration periods, a previous operators drilling from 1977 to 2000 and Puma''s drilling initiatives from 2008 to 2011. The drill core was stored and available at the Madran Core shack in New Brunswick.
Using the new interpretation of the Turgeon Cu-Zn Deposit, the program was aimed to sample un-split core intervals showing disseminated copper and zinc mineralisation between high grade copper and zinc zones to confirm the continuity of the mineralisation from surface to approximately 300 meters deep. Table 1 shows the new composite intervals for Puma''s drill holes. Then, the data was used to define the alteration pattern, the mineralization geometry and to generate drill targets at Turgeon Cu-Zn Deposit.
- Sampling of 0.54% Cu and 0.31% Zn over 300.9 meters in hole FT11-04;
- Increase of 12.5% in Copper grade in hole FT09-01 from 1.04% Cu to 1.17% Cu over 93.2 meters;
- New interval sampled in hole FT09-01 grading 1.12% Cu over 7.0 meters;
- New interval sampled in hole FT09-02 grading 0.87% Cu and 0.38% Zn over 4.1 meters;
- 220 samples with more than 0.1% Cu and 375 samples with more than 0.1% Zn;
- 15 new drill ready targets to increase potential copper and zinc mineralization at the deposit;
- 20 new drill ready targets to explore regional geophysical anomalies.
Table 1. Puma''s holes drilled at Turgeon Cu-Zn Deposit from 2008-2011
|Holes||From||To||Long||Cu||Cu Prior||Ag||Zn||Cu Equ.*|
|*||Intervals reported are drilled thickness and may not represent true width.|
**Copper equivalent grades are based on metal prices of: copper US$3.69/lb, zinc US$0.97/lb and silver US$31.7 per oz. Metal recoveries have not been applied in the copper equivalent calculation. The copper equivalent calculation is as follows; Cu Eq = Cu grade + ((Ag grade/31.11 x Ag price) + (Zn grade/100 x 2200 x Zn price)/ Cu price/22).
The sampling program has successfully identified new copper and/or zinc mineralization zones in the holes (from 1977-2000) drilled by the previous operator leading to a better understanding of the relationship between the various types of mineralization.
Table 2. Previous holes (1977-2000) drilled at Turgeon with significant new mineralization sampled
Previous drilling campaigns by Esso Minerals in 1979-82 and by Puma in 2008-11 have so far intersected three kinds of mineralization. These comprise copper-rich stockwork zones, massive sulphide zones with high copper-zinc values, and zinc-rich brecciated fault zones.
An Advanced 3D model build is in progress to identify the relationship of the High grade copper zone with the massive sulphide lenses and to locate the extension and the potential size of rich copper and zinc zones which are open at depth and along strike. Using the new 3D model, an extensive drilling program will be designed to allow forthe discover new sulphide lens at Turgeon within an area of 2km from the main deposit.
The Turgeon property is located only five kilometres south of the deepwater port of Belledune, New Brunswick. The property is accessible by road all year round and is intersected by a power line. The Turgeon property is 5,355 hectares and is part of Puma''s 13,093 hectares that is held in the Bathurst Mining Camp of northern New Brunswick that is being actively explored.
The Turgeon Cu-Zn deposit consists, so far, of four mineralized lenses with high copper-zinc values, distributed over a length of 450 metres. Only two holes have reached a vertical depth of 400 metres. The known mineralized zones have thus not been tested to depth or laterally within the favourable horizons. Also, a number of untested surface and borehole geophysical anomalies are located within the Turgeon area and are define as drill-ready targets.
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 Turgeon Cu-Zn Project and Nicholas-Denys Silver Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba. Puma is focusing its exploration efforts in New Brunswick, Canada, which has been ranked the best place in the world to conduct mining exploration by the 2012 Fraser Institute Survey.
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.
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.
Please login to post a reply