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RIMOUSKI, Quebec, March 30, 2023 (GLOBE NEWSWIRE) — Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the “Firm” or “Puma”) is happy to report as much as 12.03 g/t gold over 1.50 m briefly (solely 6 to 18 m depth) HQ holes drilled final fall on the Lynx Gold Zone (“LGZ”). The holes have been drilled as a part of an expanded metallurgical take a look at introduced on November 15, 2022. Static Acid Base Accounting and Complete Sulphur testing additionally decided that the rock is non-acid-generating.
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“These preliminary outcomes from our expanded metallurgical take a look at are very optimistic. Our gold-bearing quartz veins comprise virtually no sulphide or arsenic. Bulk sampling and potential mining would due to this fact be non-acid-generating. These outcomes are vital as they permit us to additional de-risk a possible mining operation on the Lynx Gold Zone,” notes Marcel Robillard, President and CEO of Puma Exploration.
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The expanded metallurgical take a look at was carried out to raised outline the gold mineralization discovered at floor (throughout the first 10 metres) on the Lynx Gold Zone, establish alternatives and potential challenges for gold restoration and assist design the flowsheet (recipe) for processing the upcoming bulk pattern. Take a look at work on 300 kg of fabric collected on every of the 12 foremost quartz veins (3,300 kg whole) on the LGZ is pending and shall be launched within the coming weeks.
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HQ DRILLING
Eight (8) HQ holes, for a complete of 102 m, have been drilled on three (3) foremost quartz veins. Drilling focused each high- and low-grade veins (see Determine 1). For the reason that veins are identified to dip, the holes have been collared vertically to hit each the quartz veins at floor and the rhyolite beneath. Sampling of the quartz veins and the host rock was undertaken to corroborate the gold outcomes of seize samples collected throughout floor exploration, confirm their acid-generating potential, establish any adverse implications of an open pit operation and supply useful data for planning the upcoming bulk pattern.
In step with outcomes so far, the gold grades of the outcropping quartz veins assayed within the drill core mirror the gold grades from seize samples collected at floor as proven in holes WB22-114 with 25.20 g/t Au over 0.45 m, WB22-118 with 19.65 g/t Au over 0.90 m and WB22-117 with 7.99 over 0.90 m (see Determine 2). Of notice and as anticipated, gold mineralization was steady from floor with assays returning 3.05 g/t Au over 6.00 m (WB22-114), 1.23 g/t over 10.00 m (WB22-117), and a pair of.52 g/t Au over 10.00 m (WB22-118) (see Desk 1).
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Determine 1: Location of HQ holes drilled on the Lynx Gold Zone for the metallurgical take a look at
Determine 2: Gold grades from seize samples versus HQ drilling of outcropping quartz veins
Desk 1: Assay outcomes for the quick HQ holes drilled on the Lynx Gold Zone
| DDH # | From | To | Size | Au-Greatest | *Pattern |
| (m) | (m) | (m) | (g/t) | rock | |
| WB22-114 | 0.00 | 6.00 | 6.00 | 3.05 | Whole Gap |
| incl. | 0.00 | 1.50 | 1.50 | 12.03 | QV+RHY |
| incl. | 0.00 | 0.45 | 0.45 | 25.20 | QV |
| WB22-115 | 0.00 | 6.00 | 6.00 | 0.36 | Whole Gap |
| incl. | 0.50 | 3.95 | 3.45 | 0.50 | QV |
| and | 5.60 | 6.00 | 0.40 | 0.93 | QV |
| WB22-116 | 0.00 | 9.00 | 9.00 | 0.50 | Whole Gap |
| incl. | 0.40 | 5.15 | 4.75 | 0.92 | RHY+QV |
| incl. | 1.40 | 5.15 | 3.75 | 1.06 | RHY |
| incl. | 4.40 | 5.15 | 0.75 | 3.74 | QV |
| WB22-117 | 0.00 | 18.00 | 18.00 | 0.69 | Whole Gap |
| incl. | 0.00 | 10.00 | 10.00 | 1.23 | RHY+QV |
| incl. | 0.00 | 2.70 | 2.70 | 4.26 | QV |
| 0.00 | 0.90 | 0.90 | 7.99 | QV | |
| WB22-118 | 0.00 | 18.00 | 18.00 | 1.40 | Whole Gap |
| incl. | 0.00 | 10.00 | 10.00 | 2.52 | QV |
| incl. | 0.00 | 3.25 | 3.25 | 6.60 | QV |
| incl. | 0.00 | 1.90 | 1.90 | 10.40 | QV |
| incl. | 0.00 | 0.90 | 0.90 | 19.65 | QV |
| WB22-119 | 0.00 | 9.00 | 9.00 | 0.36 | Whole Gap |
| incl. | 1.00 | 4.80 | 3.80 | 0.81 | RHY+QV |
| incl. | 1.00 | 1.85 | 0.85 | 1.59 | QV |
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* QV: Quartz Vein, RHY: Rhyolite
Desk 2: Technical data for the quick HQ holes drilled on the Lynx Gold Zone
| DDH | East UTM | North UTM | Azimuth | Dip | size | Core measurement |
| Nad83 z19 | Nad83 z19 | (N) | (-) | (m) | ||
| WB22-114 | 660 263 | 5 259 312 | 360 | 90 | 6.00 | HQ |
| WB22-115 | 660 271 | 5 259 304 | 360 | 90 | 6.00 | HQ |
| WB22-116 | 660 275 | 5 259 305 | 350 | 80 | 9.00 | HQ |
| WB22-117 | 660 279 | 5 259 306 | 350 | 70 | 18.00 | HQ |
| WB22-118 | 660 281 | 5 259 307 | 360 | 90 | 18.00 | HQ |
| WB22-119 | 660 268 | 5 259 314 | 360 | 90 | 9.00 | HQ |
| WB22-120 | 660 271 | 5 259 348 | 360 | 90 | 18.00 | HQ |
| WB22-121 | 660 279 | 5 259 348 | 360 | 90 | 18.00 | HQ |
| Complete: | 102.00 |
CONFIRMATION OF NON-ACID-GENERATING ROCK
Acid mine drainage (“AMD”) is a serious environmental concern for mining operations. Mining corporations should decide if weathering/oxidation of rock at their mine website produces acid and should devise and deploy a mitigation technique to counteract acid manufacturing if current.
RPC examined 33 chosen samples from the HQ holes drilled on the floor veins and on one other 2 holes drilled in 2022 that intercepted the sediment hanging wall. All samples have been subjected to static Acid Base Accounting (ABA) take a look at work. None have been discovered to be doubtlessly acid-producing. As well as, the whole sulphur content material in all samples was both very low or beneath the detection restrict of 0.005%. The ratio between Neutralizing Potential and Acid Manufacturing Potential together with the Complete Sulphur outcomes point out that none of the 33 submitted samples have been acid-producing.
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UPCOMING GOLD INVESTOR EVENTS
Puma invitations shareholders and events to schedule a gathering on the upcoming conferences to debate the Firm’s current information and proposed developments:
ABOUT THE WILLIAMS BROOK GOLD PROJECT
Puma’s flagship Williams Brook Gold Venture covers greater than 50,000 ha in Northern New Brunswick, a longtime and mining-friendly jurisdiction, close to paved roads and with wonderful infrastructure close by. Since 2021, Puma has made 4 (4) vital gold discoveries at Williams Brook, with gold mineralization hosted in quartz veins at floor.
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An aggressive exploration program is deliberate for 2023, together with a minimal of 6,000 m of drilling and a 4,000 T bulk pattern.
QUALIFIED PERSON
Dominique Gagné, P.Geo., a certified particular person as outlined by Canadian Nationwide Instrument 43-101 requirements, has reviewed and accepted the geological data reported on this information launch.
ABOUT PUMA EXPLORATION
Puma Exploration is a Canadian-based mineral exploration firm with treasured metals tasks close to New Brunswick, Canada’s Well-known Bathurst Mining Camp (“BMC”). The Firm is dedicated to deploying its DEAR technique (Development, Exploration, Acquisition, and Royalties) to generate most worth for shareholders with low share dilution.
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Go to www.explorationpuma.com for extra data or contact:
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Marcel Robillard, President and CEO, (418) 750-8510; president@explorationpuma.com
Mia Boiridy, Head of Investor Relations and Company Growth, (250) 575-3305; mboiridy@explorationpuma.com
Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) settle for duty for the adequacy or accuracy of this launch.
Ahead-Wanting Statements: This press launch might comprise forward-looking statements. Such forward-looking statements contain a number of identified and unknown dangers, uncertainties, and different components which can trigger the precise outcomes, efficiency, or achievements of Puma to be materially totally different from precise future outcomes and achievements expressed or implied by such forward-looking statements. Readers are cautioned to not place undue reliance on these forward-looking statements, which communicate solely as of the date the statements have been made, besides as required by legislation. Puma undertakes no obligation to publicly replace or revise any forward-looking statements. These dangers and uncertainties are described within the quarterly and annual reviews and within the paperwork submitted to the securities administration.
Figures accompanying this announcement can be found at
https://www.globenewswire.com/NewsRoom/AttachmentNg/901f4dd5-7e99-4f99-99bf-8fbcc39a8f75
https://www.globenewswire.com/NewsRoom/AttachmentNg/2450cb43-f673-43bc-b1bc-8eab69cbb96b
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