Click here to close now.

Welcome!

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 Alert Logic, the leading provider of Security-as-a-Service solutions for the cloud, has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo® and DevOps Summit 2015 Silicon Valley, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Alert Logic provides Security-as-a-Service for on-premises, cloud, and hybrid IT infrastructures, delivering deep security insight and continuous protection for cust...
In the midst of the widespread popularity and adoption of cloud computing, it seems like everything is being offered “as a Service” these days: Infrastructure? Check. Platform? You bet. Software? Absolutely. Toaster? It’s only a matter of time. With service providers positioning vastly differing offerings under a generic “cloud” umbrella, it’s all too easy to get confused about what’s actually being offered. In his session at 16th Cloud Expo, Kevin Hazard, Director of Digital Content for SoftL...
The cloud has transformed how we think about software quality. Instead of preventing failures, we must focus on automatic recovery from failure. In other words, resilience trumps traditional quality measures. Continuous delivery models further squeeze traditional notions of quality. Remember the venerable project management Iron Triangle? Among time, scope, and cost, you can only fix two or quality will suffer. Only in today's DevOps world, continuous testing, integration, and deployment upend...
Countless business models have spawned from the IaaS industry. Resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his General Session at 16th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, broke down what we've got to work with and discuss the benefits and pitfalls to discover how we can best use them to d...
Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in adop...
SYS-CON Media announced today that CloudBees, the Jenkins Enterprise company, has launched ad campaigns on SYS-CON's DevOps Journal. CloudBees' campaigns focus on the business value of Continuous Delivery and how it has been recognized as a game changer for IT and is now a top priority for organizations, and the best ways to optimize Jenkins to ensure your continuous integration environment is optimally configured.
SYS-CON Events announced today that Solgenia will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Solgenia is the global market leader in Cloud Collaboration and Cloud Infrastructure software solutions. Designed to “Bridge the Gap” between Personal and Professional Social, Mobile and Cloud user experiences, our solutions help large and medium-sized organizations dramatically improve produc...
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
Live Webinar with 451 Research Analyst Peter Christy. Join us on Wednesday July 22, 2015, at 10 am PT / 1 pm ET In a world where users are on the Internet and the applications are in the cloud, how do you maintain your historic SLA with your users? Peter Christy, Research Director, Networks at 451 Research, will discuss this new network paradigm, one in which there is no LAN and no WAN, and discuss what users and network administrators gain and give up when migrating to the agile world of clo...
Connected things, systems and people can provide information to other things, systems and people and initiate actions for each other that result in new service possibilities. By taking a look at the impact of Internet of Things when it transitions to a highly connected services marketplace we can understand how connecting the right “things” and leveraging the right partners can provide enormous impact to your business’ growth and success. In her general session at @ThingsExpo, Esmeralda Swartz...
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the ...
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager - Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, reviewed next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discussed how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has been engaged in t...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...