Properties
Strategic and Extensive Landholdings with Potential Significant Upside
Overview
Puma controls more than 75,000 ha of prime land in Canada's newest emerging gold camp.
Properties are located at the centre of a gold belt that extends from Northern Ireland to Virginia and hosts several multi-million ounces gold deposits.
Puma has accumulated an impressive portfolio of prospective gold landholdings strategically located close to roads and infrastructure in Northern New Brunswick – the Williams Brook Project and the new Mckenzie Gold Project. Both are located near the Rocky Brook Millstream Fault (“RBMF”), a major regional structure formed during the Appalachian Orogeny and a significant control for gold deposition in the region. Puma’s work to date has focused on the Williams Brook property, but prospecting and surface exploration work on its other properties have confirmed their potential for significant gold mineralization.
Puma's assets in Northern New Brunswick
Puma Property
Williams Brook Gold Project
Puma’s flagship Williams Brook Gold Project (`WB`), recently optioned to Kinross Gold Corp., covers more than 40,000 ha of prospective gold landholdings and likely hosts a large orogenic system.
Since 2021, and with less than C$12.5M of exploration investment, Puma made several significant gold discoveries at the Williams Brook property – the Lynx, Tiger, Cheetah, Cougar, Jaguar, and Panthera Gold Zones, with gold mineralization hosted in quartz veins at surface. The Lynx Gold Zone and its 4 km extension to the Cheetah Gold Zone remains the company’s focus.
The 5-year $16.75M option to Kinross for a 65% interest in the project will enable Puma to significantly develop WB and increase its value with an influx of non-dilutive cash to advance exploration.
Puma is focused on developing the Lynx Gold Zone (“LGZ”), but in 2022, three (3) other gold zones were identified kilometres away from the LGZ—the Jaguar, Cougar, and Panthera Gold Zones. These areas have only been surface sampled, but preliminary high-grade gold results warrant further exploration.
Figure 1. Gold mineralization at the Williams Brook property
* the reader is cautioned that grab samples are selective by nature and may not represent the true metal content of the mineralized zone.
Gold mineralization at the Lynx Gold Zone (“LGZ”) has been traced over a distance of 750 m along strike, a width of 100 m and a depth of 200 m. Mineralization is open at depth and along strike.
The gold is hosted in quartz veins and veinlets, stockwork and breccias in altered and brecciated rhyolite units at the contact with sediments and is associated with pervasive sericite and iron alteration. Often, visible gold (“VG”) is present. Drilling has returned exceptional results with up to 5 g/t gold over 50.15 m (WB21-02).
Figure 2. Drilling intersections at the Lynx Gold Zone
Figure 2. Lynx Gold Zone 3D gold grade shell model
Figure 3. Gold mineralization at the Lynx Gold Zone
Drilling Results
Technical Reports
Puma Property
Jonpol
The Jonpol property consists of 16 claim blocks (2,745 ha) near the Murray Brook and Restigouche deposits. It hosts several gold showings which appear to be associated with Siluro-Devonian mafic intrusions found near the large Rocky Brook Millstream (RBMF) fault and a few secondary structures parallel to it.
Historical diamond drilling returned 1.13 g/t Au over 12.0 m, 1.37 g/t Au over 6.0 m, 1.37 g/t Au over 1.4 m, 3.89 g/t Au over 1.0 m, and 2.78 g/t Au over 1.5 m. Grab samples* collected in trenches graded 17.1 g/t Au, 14.8 g/t Au, 10.6 g/t Au, 6.8 g/t Au, 5.1 g/t Au, and 3.4 g/t Au. In 2017 and 2018, till sampling and yielded up to 19 coarse gold grains, 9 of which were little modified, indicating glacial transport relatively close to the source. One sample returned 923 ppb gold. (* grab samples are selective by nature and may not represent the true metal content of the mineralized zone.)
Drilling Results
Technical Reports
Puma Property
Portage
The Portage property of 118 claims is located at the northwest contact of the former Restigouche mine. The property covers a major mafic intrusion of 4km by 6km associated with the Chaleur Group skarns with several showings of copper, cobalt, nickel and gold. In 2017, a trench sample collected by a local prospector returned 1.03% Co.
In 2019, Puma’s trenching and prospecting returned grades of 0.19% Cu, 533 ppm Ni, 0, 83% Co and 0.35 g / t Au in a sample* with approximately 30% massive sulphides. In trench T19-01, 500 metres east of T19-19, a breccia sample* in a mineralized gabbro returned grades of 0.11% Cu, 506 ppm Ni, 384 ppm Co and 25% Fe. (The reader is cautioned that grab samples are selective by nature and may not represent the true metal content of the mineralized zone.)
Drilling Results
Technical Results
Puma Property
Other Properties
Jacquet River
The property, located 20 km northeast of Williams Brook, covers 5,770 ha, is close to paved roads and is readily accessible by logging roads. Historically, very little exploration was conducted on the claims. Puma’s discovery tool, developed through its work on the Lynx Gold Zone at the Williams Brook property, can potentially uncover significant gold mineralization there.
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