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- Holes WB23-140, -142, -144 and -145 demonstrate the continuity of gold mineralization at Lynx, with mineralized envelopes extending over impressive lengths grading respectively 0.92 g\/t gold over 43.70 m, 1.25 g\/t gold over 100.90 m, 0.95 g\/t gold over 25.60 m and 1.24 g\/t gold over 98.05 m<\/strong>.<\/li>\n<\/ul>\n\n\n\n
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- Hole WB23-140 returned 4.06 g\/t gold over 3.25 m from 155 m<\/strong>, WB23-144 returned 6.60 g\/t gold over 3.25 m from 158 m<\/strong>, and WB23-145 returned 1.01 g\/t gold over 3.00 m from 246 m<\/strong> expanding the known mineralization at depth and opening another area of gold mineralization.<\/li>\n<\/ul>\n\n\n\n
Rimouski, November 16, 2023<\/strong>\u2013 Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the \u201cCompany\u201d or \u201cPuma\u201d) is pleased to announce the results of the last six (6) holes of its 2023 first phase drilling program at its 100%-owned Williams Brook Gold Project. All holes reported today successfully intersected the targeted favourable contact and a series of quartz veins and stockwork with gold mineralization. Drilling also extended the width and length of the high-grade gold shoots identified previously at Lynx and demonstrated the continuity of mineralization over long intervals (Figures 1 and 2).<\/p>\n\n\n\n
Additional high-grade gold shoots were intercepted underneath the high-grade gold veins sampled at surface, confirming our model of multiple stacked veins extending at depth. The gold shoots have now been confirmed to extend downhole to at least 250 m and over a strike length of at least 400 m. Of particular interest, a group of high-grade gold veins assayed 20.67 g\/t gold over 5.50 m<\/strong> within a large section of 32.15 m grading 3.80 g\/t gold<\/strong> in WB23-142, and also in WB23-145 where a section of 5.65 m returned <\/strong>10.81 g\/t gold <\/strong>and another graded 9.91 g\/t gold over 5.10 m<\/strong>,within a broad intersection of 98.05 m at 1.24 g\/t gold<\/strong>.<\/p>\n\n\n\n
The gold mineralization at Lynx extends both laterally and at depth over impressive lengths, such as 100.90 m of 1.25 g\/t gold<\/strong> in WB23-142 and 98.05 m of 1.24 g\/t gold <\/strong>in WB23-145. These long intervals emphasize the continuity of the mineralization and indicate that gold is present outside the core of the high-grade gold shoots. This is good news for potential open pit mining scenarios and will positively impact the mineral resource estimation of the deposit.<\/p>\n\n\n\n
Figure 1. Cross-section of Lynx gold area with today\u2019s reported results<\/h6>\n\n\n\n
![\"\"](\"https:\/\/explorationpuma.com\/wp-content\/uploads\/2025\/04\/Figure-1-1024x542.jpg\")
<\/figure>\n\n\n\nHole WB23-140 intersected 6.70 m of 2.44 g\/t gold <\/strong>starting at surface, followed by several high-grade intervals such as 3.95 m of 5.44 g\/t gold <\/strong>and 3.25 m of 4.06 g\/t gold<\/strong> at depth. Hole WB23-144 returned 6.60 g\/t gold over 3.25 m<\/strong> from 158 m,and WB23-145 returned1.01 g\/t gold over 3.00 m from 246 m. <\/strong>Gold mineralization was still present at 249 m downhole depth, indicating that the system remains open.<\/strong> Today\u2019s results expand the already wide distribution of the high-grade gold shoots, with mineralized intervals beginning at or near surface.<\/p>\n\n\n\n
Puma\u2019s President and CEO Marcel Robillard commented, \u201cThis latest set of results adds considerable scale and volume to the Lynx Gold Zone, which remains open along strike and at depth. <\/em>Drilling shows impressive continuity downhole and between drill holes. We see similar geology, alteration, structural characteristics, geochemistry, and stacking of high-grade gold veins in all drill holes. Our recent fieldwork shows that some of the same attributes characterize the Tiger Gold Zone, located 350 m away. The potential for a sizeable kilometre-wide and deep system, similar to Fosterville, is possible<\/em> here, and we\u2019ll continue to expand the zone with our ongoing exploration program.\u201d<\/em><\/p>\n\n\n\n
\u201dThe first phase of our 2023 drilling campaign was a huge success, with many intersections showing metal factors exceeding 10 and up to 165, proving the robustness of the gold system. The drill rig is now being mobilized, and our technical team is excited to test new targets at Lynx, at depth and along strike with the second phase of our 2023 drilling program.\u201d added R\u00e9jean Gosselin, Puma\u2019s Executive Chairman.<\/em><\/p>\n\n\n\n
Figure 2. Pictures of Bonanza gold-grade core samples<\/h6>\n\n\n\n
![\"\"](\"https:\/\/explorationpuma.com\/wp-content\/uploads\/2025\/04\/Picture2-1024x485.jpg\")
<\/figure>\n\n\n\nLynx Gold Zone Depositional Model<\/h3>\n\n\n\n
Samples of drill core with very high-grade gold veins were sent to an external consultant for petrographic (thin section) analysis to help characterize the gold system at the LGZ. The samples were also sent for additional XRF whole-rock geochemical analysis. Most of the holes drilled show pervasive sericitization with pyrite, tetrahedrite, sphalerite, galena, minor chalcopyrite, and malachite. Visible gold and associated potential bonanza-grade veins appear to be linked to the presence of carbonate alteration with elevated silver, bismuth, and base metals values (Cu-Pb-Zn).<\/p>\n\n\n\n
A detailed mapping study in collaboration with Terrane Geoscience\u2019s structural experts also indicates that the gold mineralization at the LGZ is associated with and controlled by extensional veins and breccias arranged in a ladder pattern.<\/p>\n\n\n\n
The favourable contact at the LGZ appears to have acted as a major plumbing zone between sediment (turbidite) and felsic volcanic (rhyolite), with gold veins developing within the turbidite itself in contrast to the surrounding rock.<\/p>\n\n\n\n
Dr. Gregg Morrison, a leading expert on intrusion-related, porphyry and epithermal gold systems, has reviewed the geology and classified rock and core samples of the Lynx Gold Zone for their texture, mineralogy, and multi-element geochemistry. He stated: \u201cI believe Williams Brook is part of the same family of gold systems as Fosterville and Sunday Creek in Australia and Valentine Lake in Newfoundland<\/em><\/strong>. These other deposits are known for their structure-controlled mineralization, metal zoning, free gold in bonanza shoots and kilometre scale depth extent.\u00a0 The similarities to these more <\/em>comprehensively explored deposits gives real confidence to deeper drilling in the Lynx Zone and continued exploration around the feeder structures in the Williams Brook District\u2019\u2019.<\/em><\/p>\n\n\n\n
Figure 3: Location of 2023 drill holes<\/h6>\n\n\n\n
![\"\"](\"https:\/\/explorationpuma.com\/wp-content\/uploads\/2025\/04\/Figure-3-750x1024.jpg\")
<\/figure>\n\n\n\nTable 1. Assay results for holes WB23-140 to 145<\/h6>\n\n\n\n
- Hole WB23-140 returned 4.06 g\/t gold over 3.25 m from 155 m<\/strong>, WB23-144 returned 6.60 g\/t gold over 3.25 m from 158 m<\/strong>, and WB23-145 returned 1.01 g\/t gold over 3.00 m from 246 m<\/strong> expanding the known mineralization at depth and opening another area of gold mineralization.<\/li>\n<\/ul>\n\n\n\n
![\"\"](\"https:\/\/explorationpuma.com\/wp-content\/uploads\/2025\/04\/Figure-4-1024x588.jpg\")
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