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Puma Exploration Identifies More High-Grade Gold Veins With up to 199 G/T* Au From Surface Sampling on Its Williams Brook Gold Property, Atlantic Canada

RIMOUSKI, Quebec, Oct. 14, 2021 — Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is pleased to provide additional results, which…

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RIMOUSKI, Quebec, Oct. 14, 2021 — Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is pleased to provide additional results, which include very high-grade gold assays of 199 g/t Au, 192 g/t Au, and 170.5 g/t Au, from the 2021 field exploration surface sampling program on the 100% controlled Williams Brook Gold Property in New Brunswick, Atlantic Canada.

Table 1. Selected High-Grade Grab Samples* Collected at Surface Between Lynx and Chubby Zones

LocationSampleUtm XUtm YLithologyTypeAu (g/t)Ag (g/t)
Lynx-ChubbyC0994296602685259314Quartz Veino/c199.0018.60
Lynx-ChubbyC0994366602635259312Quartz Veino/c192.0036.20
Lynx-ChubbyD2798316602595259307Quartz Veino/c170.5038.20
Lynx-ChubbyC7333486602815259306Quartz Veino/c52.101.88
Lynx-ChubbyD2798296602575259296Quartz Veino/c51.4022.90
Lynx-ChubbyC7333446602795259305Quartz Veino/c50.402.75
Lynx-ChubbyD2797876602865259367Quartz Veino/c46.801.40
Lynx-ChubbyC0994246602755259314Quartz Veino/c46.006.29
Lynx-ChubbyC0994486602815259314Quartz Veino/c31.601.71
Lynx-ChubbyD2796736603045259362Quartz Veino/c31.002.74
Lynx-ChubbyC0994336602655259313Quartz Veino/c28.603.42
Lynx-ChubbyC0994316602675259313Quartz Veino/c26.303.43
Lynx-ChubbyD2796816603045259360Quartz Veino/c21.303.35
Lynx-ChubbyC0994376602615259311Quartz Veino/c19.502.13
Lynx-ChubbyD2796386602905259347Rhyoliteo/c18.951.35
Lynx-ChubbyC0994236602765259314Quartz Veino/c12.655.76
Lynx-ChubbyD2798186602655259276Rhyoliteo/c9.540.75
Lynx-ChubbyD2797526602755259365Quartz veino/c9.190.81
Lynx-ChubbyC0994456602795259314Quartz Veino/c9.022.40
Lynx-ChubbyD2797636602785259364Quartz veino/c8.810.99
Lynx-ChubbyC0994976602635259341Quartz Veino/c7.460.27
Lynx-ChubbyD2795136602895259307Quartz Veino/c6.732.19
Lynx-ChubbyD2795556602675259359Quartz veino/c6.290.45
Lynx-ChubbyC0994646602585259325Quartz Veino/c5.830.10
Lynx-ChubbyC0994306602685259313Quartz Veino/c5.692.59
Lynx-ChubbyD2798306602595259297Quartz Veino/c5.358.27

* Selected rock grab samples are selective by nature and may not represent the true grade or style

The systematic surface sampling program was conducted along the O’Neil Gold Trend (OGT) between the Lynx and Chubby Gold Zones, following the 2021 spring-summer stripping and detailed mapping operations. The significant new grab samples are illustrated in Figure 1.

The first 380 surface grab samples received, so far, illustrate perfectly the very high-grade gold enrichment contact between the sediments and the rhyolite. The arithmetic average of the 380 new samples collected is 3.14 g/t Au which includes all the results from below detection limit to a maximum value of 199 g/t Au. A total of 103 samples returned values over 0.3 g/t Au including 66 that assayed better than 1.0 g/t Au. The assay results from an additional 214 samples from the current systematic surface sampling program between the Lynx and Chubby Gold Zones are still pending and are shown on Figure 1 towards the Chubby Gold Zone.

INAUGURAL DRILLING PROGRAM AT WILLIAMS BROOK GOLD PROJECT

The core-oriented maiden drill campaign was completed on August 20, 2021. It consisted of 18 holes for a total of 2,360 meters that tested a 200-meter segment of the 700-meter-long O’Neil Gold Trend (OGT). The assay results for the first six holes were released mid-September and all six (6) holes intersected significant gold mineralisation including the discovery hole WB21-02 that cut 5.55 g/t Au over 50.15 meters from surface, including 9.88 g/t Au over 8.60 meters and 46.94 g/t Au over 3.85 meters. The assays are pending for the remaining 12 drill holes.

Marcel Robillard, President and CEO, stated: “Once again our Williams Brook Gold Project rewards us with tremendous gold results from our grab sampling program. We proved that the assays from surface grab samples can be duplicated by the drilling results. The first six (6) holes released (see news 15/09/2021) are representative of the mineralisation outlined at surface and we are extremely confident that the next drill campaign will be a success”.

Puma’s technical team continues to better define and extend the gold zones on surface by prospecting, trenching, stripping, and intense sampling in preparation for the next drilling campaign scheduled for later in 2021. Also, a ground IP geophysical test survey is in progress over the OGT to see if the high-grade gold zones have a specific geophysical signature. Current work programs are highlighted in Figure 2.

O’NEIL GOLD TREND (OGT)

The O’Neil Gold Trend (OGT) is a pervasive altered and brecciated rhyolite unit hosting significant gold showings and occurrences followed by trenching and drilling over a strike length of 700 meters. The geophysical signature of the OGT is expressed over 7km. The favourable unit (rhyolite) is similar and parallel to the structures hosting the “Williams 1” and “Williams 2” Gold Zones where previous operator drilled in 2008, 54.2 g/t Au over 2.8 meters and 1 g/t Au over 23 meters.

These trends are interpreted to be related to a major rifting in the New Brunswick Geological events and could represent a low sulphidation epithermal gold system. Along the OGT, the width of the rhyolite varies from 5 to 250 meters with an average apparent thickness of 150 meters.

Discovery hole WB21-02 intersected 5.55 g/t Au over 50.15 meters from surface. The mineralised and altered zone drilled includes two main high-grade intercepts of 9.88 g/t Au over 8.60 meters and 46.94 g/t Au over 3.85 meters. All the six (6) first holes intersected significant high-grade gold quartz veins and quartz networks within the altered and mineralised rhyolite.

High-Grade Selected Grab Samples Assays on the Prolific O’Neil Gold Trend (OGT)*:
O’Neil Gold Zone:128.5 g/t Au, 44.4 g/t Au, 38.8 g/t Au, 32.8 g/t Au, 23.1 g/t Au
Pepitos Gold Zone:52.1 g/t Au, 16.1 g/t Au, 15.0 g/t Au, 13.1 g/t Au, 4.87 g/t Au
Lynx Gold Zone:241.0 g/t Au, 79.8 g/t Au, 74.2 g/t Au, 63.5 g/t Au, 58.4 g/t Au
Chubby Zone Area:3.5 g/t Au, 1.2 g/t Au, 1.2 g/t Au, 0.45 g/t Au
Moose Gold Zone:2.4 g/t Au, 2.1 g/t Au, 1.3 g/t Au, 1.1 g/t Au

* Selected rock grab samples are selective by nature and may not represent the true grade or style

QUALIFIED PERSONS

Dominique Gagné, PGeo, independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Mr. Gagné is independent of the Company.

QUALITY ASSURANCE/QUALITY CONTROL (QA/QC)

Rock samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick where each sample is dried, crushed, and pulped. The samples were crushed to 70% less than 2mm, riffle split off 1kg, pulverise split to better than 85% passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Other screen sizes available. Duplicate 50g assay on screen undersize. Assay of entire oversize fraction.

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. Great efforts will be made by the Company in the coming years to deploy its DEAR strategy (Development, Exploration, Acquisition and Royalties) in order to generate maximum value for shareholders with low shares dilution.

Learn more by consulting www.explorationpuma.com for further information on Puma.

Marcel Robillard, President, (418) 750-8510; [email protected]

Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Puma to be materially different from actual future results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statements were made, except as required by law. Puma undertakes no obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.

Precious Metals

Lundin Gold Produces 107,663 Ounces In Q3 2021

Lundin Gold Inc. (TSX: LUG) announced on Wednesday the production results for Q3 2021 at its Fruta del Norte gold
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Lundin Gold Inc. (TSX: LUG) announced on Wednesday the production results for Q3 2021 at its Fruta del Norte gold mine in southeast Ecuador. The results highlighted producing 107,663 gold ounces for the quarter, up from Q3 2020’s production of 94,250 gold ounces.

During the quarter, the company milled a total of 365,316 tonnes of ore material with an average head grade of 10.3 g/t gold. This is an increase from last year when the company milled 324,143 tonnes of ore material with 10.4 g/t gold grade. Recovery rates also increased this quarter to 88.8% from 86.8% last year.

To date, the company has produced 320,599 gold ounces for the first nine months of the year. Lundin Gold CEO Ron Hochstein said the firm is “on track to meet the upper end of [its] 2021 production guidance of 420,000 ounces of gold.”

The mining firm relayed that it will release its full Q3 2021 results on November 9, 2021 after the markets close.

Lundin Gold last traded at $10.94 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post Lundin Gold Produces 107,663 Ounces In Q3 2021 appeared first on the deep dive.

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Energy & Critical Metals

American Lithium Launches $20.0 Million Private Placement

American Lithium Corp. (TSXV: LI) announced last night that it has entered into an agreement to conduct a private placement.
The post American Lithium…

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American Lithium Corp. (TSXV: LI) announced last night that it has entered into an agreement to conduct a private placement. The financing is reported to be for aggregate gross proceeds of $20.0 million.

The private offering, made with Eight Capital on behalf of a syndicate of agents, comprises 7,548,000 company units at $2.65 per unit. Each unit consisted of a common share and one-half of a common share purchase warrant. Each whole warrant entitles the bearer to purchase a common share at $4.00 per share within two years from closing.

The company said the proceeds of this funding will be used for the exploration and development of its TLC project, Falchani Project, and the Macusani Project, and for working capital and general corporate purposes.

American Lithium Corp. last traded at $2.89 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post American Lithium Launches $20.0 Million Private Placement appeared first on the deep dive.

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Articles

Top 3 events for Canadian investors to watch on October 14

Highlights Prices of base metals are rising and zinc is leading the pack as its price spike to the highest since 2007 Rogers Communications Inc …

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Highlights

  • Prices of base metals are rising, and zinc is leading the pack as its price spike to the highest since 2007.
  • Rogers Communications Inc. (TSX:RCI.A) is amid a family feud after its Chairman Edward Rogers faced resistance from his family members.
  • Canopy Growth has said that it is offering an upfront cash payment of US$ 297.5 million to acquire Wana Brands.

Futures tracking the commodities-heavy main stock index in Canada moved positively on Thursday, October 14. The gains came after the Canadian benchmark index clocked a four-week high amid rising prices of gold and crude oil. 

As per the Brent Oil Futures, crude oil was trading at US$ 84.25 per barrel after jumping 1.3 per cent at 8:40 AM EST. 

Base metals rise, zinc leads.

Prices of base metals are rising, and zinc is leading the pack as its price spike to the highest since 2007. The rise in prices could be due to a global energy crisis that is affecting European smelters. 

Zinc spiked by about 6.9 per cent on the London Metal Exchange. Meanwhile, Aluminium recently touched its highest since 2008 due to the increase in costs of raw materials and energy used to make the metal. 

Also Read: Is MTY Food Group (TSX:MTY) a stock to buy and hold?


Even the price of copper is inching closer to the US$ 10,000-mark per one tonne of copper. It would be interesting to watch the effect on stocks of base metals amid rising prices. 

Investor alert: Rogers' feud to watch out for 

Rogers Communications Inc. (TSX:RCI.A) is amid a family feud after its Chairman Edward Rogers faced resistance from his family members.

Mr Rogers had a plan that could have seen around nine of the 11 senior executives leave the company, and his family blocked this move as this could have created chaos. 

© 2021 Kalkine Media Inc.


The Canadian communications company is already trying to close a US$ 16 billion takeover, and it surely doesn't want chaos right now. 

It would be worth watching how the investors respond to this development that reportedly happened late on Wednesday, October 13. At market close, the Rogers shares were up by 1.2 per cent and priced at C$ 59.95 apiece. 

Canopy Growth looking to expand in the US

Canopy Growth Corporation (TSX:WEED) is looking to expand its presence in the US markets and has agreed to buy Wana Brands, a maker of cannabis edibles. 

Before the market opened on October 14, Canopy Growth said that it is offering an upfront cash payment of US$ 297.5 million to acquire Wana Brands, which comprises three entities- The Cima Group LLC, Wana Wellness LLC, and Mountain High Products LLC. 

Also Read: Stronghold Digital Mining IPO: Bitcoin miner sets terms. Is it a buy?


Notably, Wana Brands is one of the biggest makers of cannabis-infused gummies in North America.

Canopy Growth could boost its revenues from the deal as Wana already has a presence in 12 American states and has expansion plans in nine other states by the end of 2022. The company is already among the top position holders in the Canadian gummy market.

Bottom line

Significant developments in the world affect the markets as sentiments play an important role in market movements. Keeping a track of world events could help investors in making the right decisions.

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