Puma Launches 2024 Exploration Program at Jonpol Gold

RIMOUSKI, Quebec, May 08, 2024 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to launch its 2024 exploration program at its 100%-owned Jonpol Gold property located 8 km east of its Williams Brook property in Northern New Brunswick.

As outlined in its News Release of January 17, 2024, Puma is expanding its regional exploration fieldwork to prospective areas of the Williams Brook Project to identify additional priority targets and add to the Williams Brook gold inventory. A focused exploration program will be deployed this summer at the Jonpol Gold property and its new expansion (see Figure 1) to advance the Company’s understanding of the sizeable orogenic gold system at play in the region and identify additional potential gold deposits.

Figure 1. Williams Brook Project properties and other Puma holdings

The 2024 summer program at Jonpol aims to investigate and revisit gold showings found by previous operators using Puma's proven exploration strategy. These gold occurrences are associated with mafic intrusions along and parallel to structures closely related to the Rocky Brook Millstream Fault ("RBMF"), a major orogenic structure trending ENE and known to host numerous gold occurrences and deposits.

Grab samples* reported from historical trenches, dug 36 years ago (1985-88), graded up to 17.1 g/t Au, 14.8 g/t Au, 10.6 g/t Au, 6.8 g/t Au, 5.1 g/t Au, and 3.4 g/t Au. Puma has not done any field work on those gold showings since the acquisition of the property in 2019. *Readers are cautioned that grab samples are selective by nature and may not represent the true metal content of the mineralized zone.

Potential at Jonpol Gold

The Jonpol Gold property is located only 5 km NW from the Murray Brook Deposit, the largest advanced-stage polymetallic asset in New Brunswick recently acquired by Canadian Copper (CSE: CCI) (see February 5, 2024, News Release). Jonpol has seen little exploration work in the past. Puma flew a VTEM heliborne survey over the property in 2021 and completed a short prospection program that same year. Limited diamond drilling by previous operators returned 1.13 g/t Au over 12.0 m, 1.37 g/t Au over 6.0 m, 1.37 g/t Au over 1.4 m, 3.89 g/t Au over 1.0 m and 2.78 g/t Au over 1.5 m. The property is underlain by sedimentary rocks and intruded by mafic to intermediate intrusions. Recent data compilation of work conducted by previous operators on the property has highlighted a 4 km-long gold trend parallel to a major fault and along a contact between intrusive and sedimentary rocks (see Figure 2). The trend appears similar in size and nature to the Lynx Gold Trend and will be Puma’s top priority for its upcoming work program.