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Puma Exploration Accelerates Option Agreement Payments To Acquire 100% Ownership in its Williams Brook Gold Project
RIMOUSKI, Quebec, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is pleased to announce that it has completed all
About this update from Puma Exploration Inc.
[{"type":"text","content":" RIMOUSKI, Quebec, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is pleased to announce that it has completed all the option agreement payments in order to complete the 100% acquisition of the Williams Brook Gold Project located in New Brunswick (see Figure 1). Following the extraordinary success of the drilling campaign with discovery hole WB21-02 returning 5.50 g/t over 50.15 meters and the new gold occurrences to the northeast, extending the continuous gold mineralised corridor for more than 275 meters along the O'Neil Gold Trend, Puma accelerated the execution of all the option agreements covering the Williams Brook Property. The acquisition and the consolidation of the Williams Brook Gold project began in early 2020 and most of the properties were currently standing at the second year of the four (4) years option agreements. A total of 25 contiguous claim blocks were consolidated and constitute the entire land package of the Williams Brook Property. Puma decided to accelerate the payments to fulfill all the requirements under the various agreements and proceed with the titles transfers. Consequently, Puma is the 100% registered holder of the minerals rights totalling 32,214 hectares. The exploration work conducted on the property is sufficient to cover the minimum work expenditures requirement with the New Brunswick government and to renew the properites for the next few years. “The aggregation of all the Williams Brook Gold claim group through the buyout of the options will enable the Company to better allocate its exploration expenditures and ensure a more efficient utilization of financial and human resources to thoroughly and systematically explore for gold on our extremely well positioned properties in the new emerging gold district of New Brunswick,” notes Marcel Robillard, President of Puma Exploration. O’NEIL GOLD TREND (OGT) The O’Neil Gold Trend (OGT) is a pervasive altered and brecciated rhyolite unit hosting significant gold showings and occurrences followed by trenching and drilling over a strike length of 700 meters. The geophysical signature of the OGT is expressed over 7km. The favourable unit (rhyolite) is similar and parallel to the structures hosting the “Williams 1” and “Williams 2” Gold Zones where previous operator drilled in 2008, 54.2 g/t Au over 2.8 me...