The drill program, targeting the newly discovered Dragon Zone, successfully confirmed the existence of a third major VMS system at Turgeon which doubles the volume of the previously known sulphide mineralization envelope.
The four holes of the most recently completed program encountered multiple massive sulphide drill intercepts up to 13 meters wide. These massive sulphide intercepts, averaging 5 meters of core length, are composed of variable amounts of pyrite, chalcopyrite and sphalerite.
Also, the typical higher-grade Cu-Zn stockwork zones that were intersected are located within a larger Cu-Zn mineralized halo intercept exceeding 100 meters. Puma has also achieved another milestone with the discovery of this new fertile syn-volcanic fault that is interpreted to be the source of mineralization with higher grade zones of 6.1% zinc equivalent ("Zneq") over 4.1 meters (FT15-04) and 5.8% Zneq over 4.0 meters (FT15-03).
The spring program included four holes for a total of 1,378 meters targeting the Dragon Zone that was discovered in 2013. All holes were extended deeper than the planned 300 meters due to persistent sulphide mineralization to downhole depths between 300 to 400 meters. The Dragon Zone is located only 200m south-west of the main Powerline and Zinc Zone deposits composed of Cu-Zn rich massive sulphide lenses and Cu rich Stockwork zones that are located close to similar fertile syn-volcanic faults as was defined in the current Dragon Zone drill program.
Zneq has been used to express the combined value of zinc, copper, and silver as a percentage of zinc, and is provided for illustrative purposes only. No allowances have been made for recovery losses that may occur should mining eventually result. Calculations use metal prices of $1.00/lbs zinc, $3.00/lbs copper, $15/oz silver and using the formula ZnEq% = Zn% + (Cu% X 3.0) + (Ag g/t*0.0218).
Since discovering the Dragon Zone in 2013, where Puma drilled 4 meters of massive sulphides grading 3.79% Zneq, the Dragon Zone has steadily increased in size to represent a potential VMS system volumetrically as large as the combined Powerline and Zinc Zones.
In 2014, Steve McCutcheon Phd, collaborated with Puma’s technical team to reinterpret the Dragon Zone geological model. Dr. McCutcheon was the Regional Geologist for the New Brunswick DNR of Bathurst for more than 25 years and a VMS expert for 40 years. He reviewed all available holes in the Dragon Zone and helped to design the current program that confirmed the extension of the Dragon Massive Sulphide Zone.
Dr. McCutcheon notes that the most recent drill program suggests that: ”Mapping the 3D-distribution of pervasive silicification, sidewall stockwork veins with silicification, intense epidote alteration, chlorite alteration intensity, and the distribution of Cu and Zn mineralization should be undertaken to delineate the geometry of the alteration pipe/corridor that is associated with the Dragon Zone. This will guide future drill programs to further define the alteration corridor and pinpoint the higher grade and/or thicker zones to test its potential to host an economic deposit”.
Marcel Robillard, President of Puma added, "These new results confirm the potential for more massive sulphide deposits at depth and along strike. The next drilling program will target higher-grade areas within the Dragon Zone”. A second phase of drilling is planned after the newly found features are included into the geological modeling."
