News Feed Item

Puma Acquires Three New Porphyry Systems in Northern New Brunswick

RIMOUSKI, QUEBEC -- (Marketwired) -- 08/12/14 -- Puma Exploration (TSX VENTURE: PUM) has increased its strategic land holdings in northern New Brunswick with the acquisition of 5,552 hectares of prospective porphyry system targets. The claims were selected following the discovery of highly mineralized zones of molybdenum, copper and silver found during drilling on its flagship Nicholas-Denys property near Bathurst (see press release 21/05/2014). The acquisitions are grouped in three distinct projects namely Benjamin, Pabineau and Green River and are shown on a map attached and available at www.explorationpuma.com

Marcel Robillard, President of Puma Exploration, said: "Our recent exploration success at the 4km diameter Nicholas-Denys porphyry and related skarn systems led us to the logical conclusion that nearby porphyries should be investigated for future acquisitions. Our review of northern New Brunswick porphyries has resulted in the acquisition of these three excellent new properties including one with promising copper-molybdenum and silver drill results. The acquisitions could potentially provide additional copper-molybdenum-silver resources in the same geological setting (Devonian age intrusion) close to existing infrastructure and the flagship Nicholas-Denys property".

The objective of the acquisition is to secure land with prospective porphyry targets in northern New Brunswick and apply the discovery model defined at Nicholas-Denys with a minimum of investment required for the next two years as we continue to conduct intensive exploration on the Nicholas-Denys porphyry system. The works planned will include mainly data compilation and field reconnaissance program to define the most promising projects within the Puma's project portfolio. Detailed project description and program will be provided following the data compilation and preliminary field reconnaissance.

The first priority for Puma is to continue exploring the Nicholas-Denys Porphyry by drilling the remaining IP targets currently being refined through the final interpretation of the new downhole IP survey conducted in drillhole FND14-02 and FND14-03.

Benjamin Project

The Benjamin project comprises two contiguous claim blocks totaling 2,269 hectares located 35km northwest of the Nicholas-Denys Project. The first block (Connors block; 21 claims for 454 ha.) was optioned from a local prospector. The second block (84 claims for 1,815 ha.) was staked subsequently by Puma to secure prospective land located north of the porphyry deposit.

The Benjamin River copper-molybdenum-silver deposit contains a historical resource of 21M tons @ 0.21% Cu as defined by Soquem in 1968 from 22 drilholes. The historical resource estimate was prepared prior to the implementation of NI43-101 and includes terminology not compliant with current reporting standards. Puma has not made any attempt to re-classify the estimates according to current standards of disclosure and is not treating the estimate as current mineral resources or mineral reserves. Historical estimates should not be relied upon.

The molybdenum and silver content were never considered in the resources estimate and the deposit is open in all direction and at depth. Of the 22 holes drilled by Soquem in 1968 some returned significant copper-molybdenum-silver mineralization such as hole 7008 with 0.37% Cu, 0.011% Mo and 1.7g/t Ag over 70.1 meters.

Pabineau Project

The Pabineau project consists of two contiguous claim blocks totaling 1,110 hectares located 25km southeast of the Nicholas-Denys Project. These two claim blocks where optioned from the same prospector as the Benjamin Project (South Pabineau Lake; 46 claims for 1,001 ha. and Pabineau; 5 claims for 109 ha.). Little exploration work has been conducted on the property but shows promising molybdenum results from collected grab samples and short pack sack drill holes such as 0.65% MoS2 over 2.3 meters in hole ddh#95. No copper and silver assays were completed on the samples.

Green River Project

The Green River project consists of one claim block totaling 2,173 hectares (100 claims) located 170km west of the Nicholas-Denys Project in Northern New Brunswick. The property was staked by Puma to covers a potential porphyry system with no work done in the area.

Terms of the option agreement

The option agreement covers the combined Pabineau and Benjamin Projects located in Northern New-Brunswick. The properties included in the agreement comprise 72 claims. All the claims are in good standing until 2015. No work commitment is required over the option period but Puma should keep the claims in good standing. To acquire 100% of the properties, Puma has to:

Upon signing: $10,000 of field work and issue 50,000 shares.

1st Anniversary: $10,000 of field work and issue 50,000 shares.

2nd Anniversary: $10,000 of field work and issue 75,000 shares.

3rd Anniversary: $10,000 of field work and issue 100,000 shares.

4th Anniversary: $10,000 of field work and issue 100,000 shares.

As of the 5th Anniversary to the 10th anniversary, an annual pre royalty payment of $10,000 will be made to the vendor. A net smelter return (NSR) of 2% for all minerals remains with the claims owner and Puma keeps the right to purchase 1% of the NSRs for $1,000,000 and the second 1% of the NSRs for $2,000,000.

About Nicholas-Denys

Nicholas-Denys is located in mining friendly New Brunswick, near sea level in the established Bathurst mining camp which welcomes employment opportunities. The property is located 15 kms from the city of Bathurst and 20 kms from a deep-water Atlantic port and the nearby Glencore Xstrata smelter at Belledune. The project consists of three genetically and spatially related plays: the large 4 km diameter ND porphyry intrusion, the adjacent 10 km long Main Fault zone including the skarn horizon and, about 1 km to the southeast, the parallel 10 km long Rocky Brook mineralized Ag-Au-Pb-Zn fault corridor.

About Puma Exploration

Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company's major assets are the Nicholas-Denys Project and Turgeon Copper Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba. Puma is focusing now its exploration efforts in New Brunswick, Canada.

Learn more by clicking here: www.pumaexploration.com

The contents of this press release were prepared by Marcel Robillard a Qualified Person as defined in NI 43-101. There is not enough drilling data presently available to determine the shape and true width of the mineralized zone. 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.

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 Exploration Inc. 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 Exploration 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Streamlyzer will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
One of biggest questions about Big Data is “How do we harness all that information for business use quickly and effectively?” Geographic Information Systems (GIS) or spatial technology is about more than making maps, but adding critical context and meaning to data of all types, coming from all different channels – even sensors. In his session at @ThingsExpo, William (Bill) Meehan, director of utility solutions for Esri, will take a closer look at the current state of spatial technology and ar...
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his session at @DevOpsSummit 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will show how customers are able to achieve a level of transparency that enables everyon...
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
“Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CloudBerry Backup is a leading cross-platform cloud backup and disaster recovery solution integrated with major public cloud services, such as Amazon Web Services, Microsoft Azure and Google Cloud Platform.
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...