Puma Exploration (TSXV:PUMA) has reported preliminary findings from its 2023 drilling program at the Williams Brook Gold Project in Northern New Brunswick, Atlantic Canada, demonstrating that gold mineralization extends beyond 100 meters depth. The exploration, entirely owned by Puma, took place at the Lynx Gold Zone, where 24 holes amounting to 3,475 meters were drilled.

The drilling exposed more than 100 specks of visible gold in 37 different locations, with 16 occurrences situated between 100 meters and 211 meters downhole depth. The gold mineralization appears to be constrained at the favourable contact between rhyolite and sediment, and potential high-grade veins are often found in association with carbonate alteration (dolomite) and sulphides.

Puma Exploration President and CEO Marcel Robillard commented in a press release: “We are extremely pleased with this first phase of our 2023 drilling program and what we see in the core. There’s tremendous validation of our approach and model when we can hit VG successfully, and multiple instances of it is remarkable. The mineralization, mineralogy, alteration etc., all indicate that we are dealing with a large hydrothermal system that extends laterally and at depth. We are confident that we’ll substantially add to the gold inventory at the Lynx Gold Zone as we continue to advance our 2023 program and beyond.”

This initial phase of drilling was conducted with a specific focus on the Lynx and Moose areas of the LGZ and was purposed to confirm and expand the known high-grade gold mineralization both at depth and along strike. An additional objective was to target veins previously mapped at the surface using different drilling orientations to improve the understanding of the veins’ geometry and update the structural model.

The results from the Phase 1 drilling not only confirmed the extension of the mineralization beyond 150 meters depth but also shed light on the alteration observed in the core. As drilling reached 100 meters vertical depth, the supergene alteration transitioned to fresh sulphides. Although many holes showed pervasive sericitization, the presence of visible gold and associated potential high-grade veins was linked to the existence of carbonate alteration and specific sulphide assemblages. These sulphides were also found 255 meters downhole in one of the drilling holes.

Looking ahead at the 2023 Drilling Program, the fully-funded and permitted progress has three primary objectives: to extend the continuity of the LGZ at depth and along strike, to validate and refine the existing geological model, and to corroborate Puma’s current geophysical pathfinder tool. Initially planned for 15 holes and approximately 2,000 meters, Phase 1 drilling was expanded to 24 holes and 3,500 meters after the Company successfully intercepted the depth extensions of the high-grade shoots identified by previous programs. Assays from the Phase 1 drilling are still pending, and the results will be announced upon receipt.

To advance exploration, Puma is preparing to conduct surface exploration work to locate the favourable rhyolite sediment contact along the strike extension of the Lynx Gold Zone. This work is in preparation for the Company’s forthcoming Phase 2 drilling program. The discovery has marked a significant development in understanding the Williams Brook Gold Project’s potential and demonstrates Puma’s commitment to thorough exploration and evaluation.

Highlights from the results are as follows:

Table 1. Visible gold occurrences in Phase 1 2023 drilling

DDH #	Downhole Depth (m)	Vein type	Host rock	Associated sulphides
WB23-129	45.4	white qtz	rhyolite	ga
WB23-129	48.4	white qtz	Sed-lim/GS in rhyolite
WB23-132	87.9	white qtz	sed-lim	ga
WB23-133	32.5	fracture in GS	Sed altered-lim
WB23-133	49.2	white qtz	rhyolite
WB23-133	50.3	white qtz	Sed altered at contact with rhyolite	sph
WB23-133	60.7	white qtz	Sed altered
WB23-136	37.6	milky white qtz brec with GS fragments	rhy-lim/Sed altered-lim
WB23-137	3.0	white qtz	sed-lim
WB23-137	26.7	white qtz brec. With rhy fragments	rhyolite-lim
WB23-137	33.3	stw QV 1cm	Rhy-lim
WB23-137	33.6	stw QV 1cm	Rhy-lim
WB23-138	100.4	white qtz	rhyolite	ga
WB23-138	109.2	white qtz	rhyolite	ga-cpy-sph
WB23-138	138.7	white qtz	rhyolite	ga-sph-lim
WB23-138	153.8	white qtz	rhyolite	ga-sph-lim-ma-cpy
WB23-138	175.9	white qtz	rhyolite	sph-ga
WB23-139	90.5	white qtz	rhyolite	cpy-ga-sph
WB23-139	139.9	white qtz	rhyolite	cpy-ga-sph
WB23-139	149.8	white qtz	rhyolite	cpy-ga-sph
WB23-139	149.9	white qtz	rhyolite	cpy-ga-sph
WB23-139	150.0	white qtz	rhyolite	cpy-ga-sph
WB23-139	150.1	white qtz	rhyolite	cpy-ga-sph
WB23-139	151.9	white qtz	rhyolite	cpy-ga-sph
WB23-139	211.2	white qtz	rhyolite	ga-sph
WB23-140	129.8	white qtz	rhyolite	ga-cpy-py-sph
WB23-142	60.7	Rusted qtz, stw	rhyolite-lim
WB23-142	64.0	white qtz	rhyolite-lim/sediment altered	ga-cpy-ma
WB23-142	82.0	white qtz	rhyolite	ga
WB23-142	136.3	white qtz, stw	rhyolite	ga-cpy-sph
WB23-144	161.7	white qtz	rhyolite / sediment altered	ga-sph-cpy
WB23-145	80.6	white qtz rusted	rhyolite-lim	ga-ma
WB23-145	81.8	white qtz	rhyolite-lim
WB23-145	81.8	white qtz	rhyolite-lim	ga-cpy
WB23-145	82.6	white qtz	rhyolite-lim	ga-cpy-sph
WB23-145	82.7	white qtz	rhyolite-lim	ga-cpy-sph
WB23-145	174.4	white qtz	rhyolite	ga

Table 2. Coordinates and depth of drilled holes

DDH #	Easting *	Northing*	Azimuth (°)	Dip (°)	Length (m)
WB23-122	660246	5259235	335	-45	107.0
WB23-123	660256	5259214	335	-65	83.0
WB23-124	660213	5259379	155	-80	122.0
WB23-125	660263	5259293	330	-45	170.0
WB23-126	660242	5259412	155	-65	80.0
WB23-127	660237	5259421	155	-75	134.0
WB23-128	660236	5259382	155	-85	116.0
WB23-129	660263	5259417	155	-65	65.0
WB23-130	660207	5259347	155	-80	113.2
WB23-131	660227	5259340	165	-65	89.0
WB23-132	660303	5259443	230	-45	196.0
WB23-133	660336	5259560	202	-45	107.3
WB23-134	660312	5259564	155	-65	122.0
WB23-135	660335	5259521	335	-55	100.0
WB23-136	660350	5259505	295	-55	92.0
WB23-137	660371	5259519	295	-50	87.0
WB23-138	660362	5259507	260	-45	257.0
WB23-139	660361	5259481	260	-45	230.0
WB23-140	660343	5259458	260	-45	218.0
WB23-141	660343	5259458	330	-45	178.0
WB23-142	660287	5259359	338	-46	236.0
WB23-143	660351	5259599	202	-45	101.0
WB23-144	660388	5259550	260	-46	197.0
WB23-145	660335	5259430	260	-46	275.0
* Projection: UTM Nad83 zone 19				Total:	3475.5