Puma Exploration acquired Chester VMS Project at New Brunswick

PUMA EXPLORATION ADDS THE CHESTER VMS DEPOSIT TO ITS BATHURST MINING CAMP PORTFOLIO OF PROPERTIES

 

CHESTER PROPERTY HIGHLIGHTS

 

Significant Exploration Potential

The Chester Property is an advanced stage exploration project with known resources and has significant exploration potential. Strong exploration targets remain uninvestigated and include Cu-Pb-Zn soil anomalies, gravity and magnetic geophysical anomalies. Table 1 below indicates some significant drill results of Cu, Zn and Pb in the first 50 meters from surface.

 

Feeder Zone (Surface to 50m) Massive Sulphide Zone (Surface to 50m)
4.8% Cu over 20.3 meters 10.8% Zn + 4.5% Pb over 5.6 meters
3.4% Cu over 25.0 meters 7.4% Zn + 2.3% Pb over 6.1 meters
6.0% Cu over 13.1 meters 8.0% Zn + 3.9% Pb over 7.0 meters
8.0% Cu over 5.2 meters 8.5% Zn + 4.0% Pb over 7.9 meters
4.9% Cu over 14.2 meters 7.0% Zn + 2.6% Pb over 15.6 meters

 

Excellent Historical Resources 
The West Zone (Copper Stringer) of the Property contains an historical compliant measured & indicated resource of 1,400,000 tonnes grading 1.38% Cu* reported in 2008 and updated in 2014. Inferred resources of 2,089,000 tonnes grading 1.26% Cu were also reported in the NI 43-101*. The Ddeposit is located at surface.
Previous Mining Development
A portal and ramp (600m) development was driven into the copper feeder (Stringer) zones on two (2) stopes from which 30,000 tonnes bulk samples grading 2.0% Cu were mined by the Sullivan Group in the early ’70.
Robust Metallurgical Test

The metallurgical test work conducted to date indicates that concentrate grades in the range of 27-28% Cu could be produced at copper recoveries of 97-98% by standard flotation circuits. To date no metallurgy has been conducted for Zn & Pb components.

Favorable Location

The Property is located only 20km south of Halfmile Lake, Stratmat and Heath Steele properties, all past producers held by Trevali Mining Corporation and close to important mining infrastructures in the BMC.

  

  

About Chester Copper Deposit

 

The Chester property is known to contain a copper Deposit. There are 3 zones included in the main Deposit; the Central Zone, the East Zone and the West Zone (Copper Stringer) located at surface. Only the West Zone has been included in the NI 43-101 resources calculation in 2008 and updated in 2014 to reflect changes in metal prices and mining scenarios. The copper deposit has historical measured & indicated resources of 1,400,000 tonnes grading 1.38% Cu and 3.5 g/t Ag and inferred resources of 2,089,000 tonnes grading 1.26% Cu (assayed for Cu only) as reported in the NI 43-101 Technical Report entitled “Technical Report – Chester Copper Property New Brunswick Canada” (effective March 07, 2014) prepared by Robert C. Sim, P. Geo., for Explor Resources and filed on www.sedar.com. Puma is not treating the “historical resources estimate” as a “current resources estimate” or “mineral reserves”, as it has not taken steps to identify what work needs to be done to verify, upgrade or re-classify the “historical resources estimate” using a qualified person from Puma or independent third party.

 

About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company’s major assets consist of an option to acquire 100% beneficial interest in the Murray Brook Property, the Turgeon Zinc-Copper Project and the Nicholas-Denys Project, all located in the Bathurst Mining Camp of New Brunswick. Also, Puma owns an equity interest in BWR Resources which explores in Manitoba. Puma’s objective is to focus its exploration efforts in New Brunswick.

 Flagship Project : Murray Brook Deposit

The Murray Brook Deposit, has a measured mineral resource of 3.68 million tonnes grading 5.57% Zn, 1.87% Pb, 0.36% Cu, 70.5 g/t Ag and 0.56 g/t Au, plus indicated mineral resources of 1.60 million tonnes grading 4.48% Zn, 1.63% Pb, 0.70% Cu, 65.3 g/t Ag and 0.88 g/t Au (for a combined measured and indicated resource of 5.28 million tonnes averaging 5.24% Zn, 1.80% Pb, 0.46% Cu, 68.9 g/t Ag and 0.65 g/t Au containing approximately 610 million pounds of Zinc, 209 million pounds of Lead and 11.7 million ounces of Silver, as of effective date, December 21, 2016.

Marcel Robillard, President 

(418) 724-0901

president@explorationpuma.com

Dominique Gagné, VP Exploration

(418) 724-0003

dgagne@explorationpuma.com

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