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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Puma Exploration Inc | TSXV:PUMA | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.07 | 0.065 | 0.07 | 0.07 | 0.07 | 0.07 | 10,035 | 14:33:15 |
The Jonpol Gold Project covers 16 claim blocks for 2,745 hectares and is located only 5km North-West of the Murray Brook Project (click for map.) Very limited diamond drilling has been done on the property which is underlained by sedimentary rocks and mafic intrusions. Drill results reported were 1.13 g/t Au over 12.0m, 1.37 g/t Au over 6.0m, 1.37 g/t Au over 1.4m, 3.89 g/t Au over 1.0m, and 2.78 g/t Au over 1.5m.
In 2017 and 2018, till samples were collected and gold grain count analyses of heavy metal concentrates (HMC) were carried out. The till surveys identified a significant anomaly in the eastern part of the property with up to 19 gold grains that included 9 pristine and 8 modified, indicating a limited glacial transport. Grade of 923 ppb Au for the HMC sample was reported.
The Purchase Agreement covers the Jonpol Gold Project located in Northern New Brunswick. Puma will acquire a 100% interest in the claims by issuing 4,000,000 shares (pre-consolidation.) The vendors keep a net smelter royalty (NSR) of 2%. Puma retains the right to repurchase 1% NSR for $1,000,000. Puma must keep the claims in good standing but does not have any minimum work commitments. The transaction is subject to the TSXV Exchange approval.
DEAR STRATEGY
In connection with the current reorganization of the Company, Puma has defined a four-part strategy for 2019-2020 and beyond: Development, Exploration, Acquisition and Royalties/Ownership (DEAR.)
Each part of this strategy is aimed at generating value for shareholders and are defined as follows:
ABOUT PUMA EXPLORATION
Puma is a Canadian mineral exploration company with advanced and early stage precious and base metals projects in Canada. While the priority remains to secure and finalize the acquisition of the Murray Brook project in New Brunswick, the emphasis will be directed to execute its DEAR Strategy to generate value to its shareholders. Puma is currently holding one of the largest land packages in the prolific Bathurst mining camp in northern New Brunswick, Canada.
QUALIFIED PERSONS AND QC/AC
Technical information provided in this news release was prepared and reviewed by Marcel Robillard, P.Geo., President of Puma Exploration, qualified person as defined by NI 43-101. 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. Mr. Robillard is not independent of the Company, as is officer and shareholders thereof.
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Learn more by consulting www.pumaexploration.com for further information on Puma.
Marcel Robillard, President(418) 724-0901president@explorationpuma.com
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 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 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/69f36f5a-47b8-4451-ad53-ee500ce8bd9c
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