RIMOUSKI, April 18 /CNW Telbec/ - Recent drilling by Puma, together with
the re-interpretation of a recently completed geophysical survey, have
identified a 12 Km long geological structure on the Nicholas-Denys property
located in New Brunswick. This structure is already known to host six major
silver-lead-zinc deposits. Three of these deposits have been drilled by Puma.
Drilling results for two of these deposits, the Pine Tree and Half Mile, are
now available. The results of Puma's third drill program will be available in
the near future.
Drill results obtained from the Pine Tree deposit are significant and
define a high-grade silver content. Seven drill holes have produced an average
silver equivalent grade of 13.4 oz/t over an average thickness of 4.9 metres
with a silver equivalent grade up to 16 oz/t over 8 metres. The mineralization
extends from surface to vertical depth of at least 160 metres.
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Mineralized intersections
Pine Tree
Ag
Drill Inclina- Dequiva-
Hole Direction tion From To Width Zn Pb Ag Au lent(x)
(m) (m) (m) (%) (%)(oz/t)(g/t) (oz/t)
F05-01 N170 45 11.3 15.9 4.6 1.7 2.2 1.8 0.3 8.4
F05-06 N170 45 46.0 48.5 2.5 3.4 3.3 3.7 0.7 15.9
F05-07 N170 45 11.4 15.5 4.1 4.2 3.5 2.9 1.9 19.0
F05-08 N170 45 35.5 43.5 8.0 3.8 3.8 2.9 0.4 16.0
F05-09 N170 45 25.3 28.8 3.5 2.3 2.4 2.1 0.4 10.4
F05-16 N170 75 141.7 147.6 5.9 2.5 2.7 1.7 0.4 10.8
F05-17 N170 75 159.9 165.5 5.6 4.1 2.0 1.2 0.4 13.3
Half Mile
Ag
Drill Inclina- Dequiva-
Hole Direction tion From To Width Zn Pb Ag Au lent(x)
(m) (m) (m) (%) (%)(oz/t)(g/t) (oz/t)
F05-12 N170 45 25.6 27.3 1.8 4.3 3.3 1.1 0.4 14.8
F05-13 N170 45 78.8 80.7 1.9 2.0 3.4 2.9 0.1 11.0
F05-14 N170 45 47.6 48.6 1.0 2.2 3.8 1.0 0.2 10.1
The third deposit where Puma has recently conducted a drill program
contains underground exploratory workings that were excavated in the 1960' and
1970's. The Shaft deposit's underground development consists of a 150 metre
deep shaft and two exploration drifts at the 60 and 150 metre depth levels.
Due to economic conditions that existed at that time, no mineral production
was undertaken. The results of Puma's Shaft deposit drill program will be
available in the near future.
((x)) The silver equivalent per cent was calculated on the basis of the
following metal values posted by Northern Miner on April 04, 2006:
Au; $585.00 (U.S.) per ounce; Ag; $11.74 (U.S.) per ounce;
Pb; $0.53 (U.S.) per pound; and Zn; $1.22 (U.S.) per pound. The
equivalents of one ton equals 2,200 pounds, one gram per tonne
equals 0.03215 ounce.
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Assays were performed by ALS Chemex in Val d'Or, using atomic absorption
and ICP. The contents of this press release were prepared by Marcel Robillard,
Geologist and NI-43-101 Qualified Person. The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of
this release.
