Projects
Strategic and Extensive Landholdings with Potential Significant Upside
Overview
Puma controls more than 85,000 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
Our Flagship Project
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.
Since 2021, Puma focused on the Williams Brook property and developing the Lynx Gold Zone (LGZ). The LGZ extends 4km along strike. In 2022, three (3) other gold zones were identified on the property kilometres away from the LGZ—the Jaguar, Cougar, and Panthera Gold Zones. These areas, though only surface sampled, have shown promising high-grade gold results, indicating their potential for 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
Williams Brook Gold Project
Jonpol Property
The Jonpol property, near the Murray Brook and Restigouche deposits, 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
Williams Brook Gold Project
Portage Property
The Portage 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's Second Prospective Project
McKenzie Gold Project
A Second Highly Prospective Large Land Package
The McKenzie Gold Project encompasses over 33,660 hectares and straddles the McKenzie Fault, a prominent structural feature associated with numerous high-grade gold quartz veins, stockworks and breccias. Limited prospecting, trenching and sampling by previous owners have identified several gold occurrences that exhibit striking similarities with the orogenic gold mineralization identified on the Williams Brook Project, a project recently optioned to Kinross Gold Corporation.
The McKenzie Gold Project appears to exhibit the same geological attributes as the Williams Brook Project, namely:
- The presence of very high-grade gold mineralization;
- The mineralization appears to be associated with orogenic gold deposits;
- The project is near a major Appalachian structure – the McKenzie Fault;
- The presence and proximity of mineralized felsic intrusions; and
- The potential for a large mineralized system (Au, Ag, Cu).
McKenzie Gold Photos
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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