Puma Exploration (TSXV:PUMA) has reported findings from the first 11 holes of its 2023 drilling program at its Williams Brook Gold Project in Northern New Brunswick. The company reported that seven of these 11 holes returned significant amounts of gold, with four holes intersecting multiple high-grade gold quartz veins. Notably, Hole WB23-125 intersected 15 separate quartz veins and showed significant levels of gold, including an interval that measured 6.46 grams per ton (g/t) of gold at a depth of 75 meters.

Puma Exploration President and CEO Marcel Robillard commented in a press release: “The first holes of our Phase 1 2023 campaign were drilled to map and test the newly identified veins discovered at surface at Lynx earlier this year and the depth continuity of the interpreted high-grade shoots at Lynx. Many holes hit multiple quartz veins downhole, often starting at surface. Hole 125 was drilled to 170 m depth, and we saw VG in 4 veins from 55 to 79 m depth. Those returned grades of 11.20 to 42.60 g/t gold over 0.35 to 0.80 m width. What’s most impressive is we intersected 15 veins, and they all contributed gold, regardless of whether they contained VG. That’s significant because it highlights the continuity of mineralization at Lynx and the potential for a large mineable system that remains open along strike and depth. Assay results for the remaining holes drilled deeper that returned numerous VG specks should be in soon. We expect they will extend the width and depth of the gold chutes and continue to build volume at Lynx.”

The 11 holes were initially reported on August 2, 2023, and were not part of the drilling series that yielded over 100 visible specks of gold upon first inspection. Assay results from these 11 holes ranged from anomalous gold levels of 0.1 g/t to as high as 42.60 g/t. These results support the indication of considerable continuity and depth extension of gold mineralization in the Lynx Gold Zone.

The drilling also explored previously untested areas and found broad mineralized zones, indicating the existence of additional gold chutes. For instance, results included 0.5 meters of 16.1 g/t gold in WB23-128 and 19.35 meters of 0.54 g/t gold in WB23-131. Results for the remaining 13 holes in the 2023 drilling program are still pending and will be made public upon receipt.

The Phase 1 drilling effort was primarily concentrated on the Lynx and Moose areas and aimed to confirm and extend high-grade gold mineralization. The program expanded from 15 to 24 holes after successfully intercepting depth extensions of high-grade shoots previously defined by other drilling initiatives.

In a geological context, most of the drilled holes showed widespread sericitization. However, visible gold and potential bonanza-grade veins were found to be associated with carbonate alteration, specifically dolomite, as well as with sulphide assemblages of pyrite, chalcopyrite, galena, and sphalerite occurring either as disseminated massive sulphides or semi-massive veinlets within the quartz veins.

Highlights from the results are as follows:

• Hole WB23-125 returned 50.85 m of 1.05 g/t gold.
• Gold mineralization extends over 90 m from surface in a series of stacked high-grade quartz veins.
• All 11 holes intersected the targeted quartz veins, with assay results returning from anomalous gold (0.10 g/t) to 42.60 g/t.
• Gold was intercepted at depth in areas never drilled before.
• Results confirm the continuity of gold mineralization at the Lynx Gold Zone.
• Assay results for 13 additional holes (2,200 m), including 47 samples containing VG are still pending

Table 1. Assay results of 2023 drilling

*Interval widths reported; true widths of the system are not yet known.

Table 2. Coordinates of drill holes

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.