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Puma Exploration announces a strategic partnership with Kinross Gold through an option agreement for the Williams Brook Project in Northern New Brunswick. Kinross can earn a 65% interest by funding $16.75 million in exploration over five years, including a firm commitment of $2 million with 5,000 metres of drilling in the first 18 months. Kinross will also acquire a 9.9% stake in Puma through a $1.01 million private placement at $0.06 per share. Puma will serve as the operator, receiving management fees and maintaining a 35% interest upon joint venture formation. The Lynx Gold Zone has shown promising results, including intersections of 5.55 g/t Au over 50.15m and 2.49 g/t Au over 63.05m.
Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) has reported significant surface sampling results from its 2024 exploration program at the Williams Brook Gold Project in New Brunswick. A grab sample yielded 72.0 g/t Au in a newly discovered area, the Lion Gold Zone (LIGZ), located 10 km NE of the Lynx Gold Zone. This sample represents the highest gold assay from surface sampling outside the LGZ.
The LIGZ is associated with the McCormack Brook Fault and shows mineralization similar to the LGZ. Initial sampling produced assays of 72 g/t Au, 2.61 g/t Au, 0.13 g/t Au, and 0.07 g/t Au. Puma is now using an excavator to further define and study this new zone, aiming to advance it to a drilling stage rapidly.
Puma Exploration announces results from its maiden scouting drilling program at the Williams Brook Gold Project, extending the Lynx Gold Trend by 4 km. The 2,270 meters of shallow diamond drilling confirmed subsurface gold mineralization and identified distinct styles of mineralization and alteration. Gold was found at the Tiger Gold Zone, 350 m from the main Lynx Gold Zone, with significant intersections confirming the effectiveness of Puma's exploration methods. The program revealed grades of up to 2.0 g/t Au over 0.40 m at Tiger.
The presence of quartz veins and alteration similar to those at the Lynx Zone suggests potential for higher-grade zones. Notably, the drone magnetic survey has highlighted several areas for future exploration. Puma plans to continue drilling deeper at Lynx in fall 2024, enhancing the gold recoveries at Williams Brook and expanding regional exploration to new areas.
Puma Exploration has announced the acquisition of the Moose Brook property, adding 28 claims totaling 608 ha to its holdings in the Williams Brook area. This acquisition strengthens Puma's position as the largest landholder in Northern New Brunswick.
The Williams Brook property, part of the Williams Brook Gold Project, has shown significant gold potential with initial findings of 5.55 g/t gold over 50.15m at the Lynx Gold Zone. Recent drillings have supported these findings.
To acquire Moose Brook, Puma will issue 225,000 common shares and make a $5,000 cash payment. Additional payments totaling up to $175,000 will be made upon achieving specific milestones, and the property owner retains a 2% NSR royalty, with Puma having the option to buy back 1% for $1 million.
This strategic acquisition aligns with Puma's DEAR strategy and aims to maximize shareholder value through low-cost, high-potential exploration opportunities in a consolidated land package.
Puma Exploration has announced updates on its transactions with Raptor Resources and Canadian Copper, concerning the sale and transfer of the Chester and Turgeon Projects in New Brunswick, Canada. The deal could total AUD$2,000,000 in cash and shares. Raptor will lodge its IPO prospectus with the ASX by July 15, 2024, and aims to raise at least AUD$10,000,000. Raptor has extended the IPO deadline to August 30, 2024, with approval from Puma and Canadian Copper, by paying a AUD$20,000 fee. This extension aligns with planned drilling at the Chester Project upon ASX listing. Puma's CEO highlighted that the initial AUD$500,000 cash payment will enable further development of the Williams Brook Project without shareholder dilution. Puma aims to expand and enhance the Williams Brook Gold Project in 2024 by drilling, conducting surveys, and exploring new areas.
Puma Exploration Inc. launches its 2024 exploration program at the Jonpol Gold property in Northern New Brunswick. The program aims to identify additional priority targets and expand the gold inventory at the Williams Brook Project. Puma will focus on investigating gold showings associated with mafic intrusions and the Rocky Brook Millstream Fault. Grab samples from historical trenches graded up to 17.1 g/t Au. The Jonpol Gold property is located near the Murray Brook Deposit and has exploration history. Puma plans to increase its land package and focus on growing the volume, scale, and grade of the Williams Brook Gold Project in 2024.
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