EXPLORATION & DEVELOPMENT

Puma leaps on significant drill result

Puma Exploration (CN:PUM) says a massive sulphide intersection below the current resource at its Murray Brook project represents a “fundamental and significant” expansion of the system’s geometry and metal content.

Staff reporter
 Puma has a PEA underway on the Murray Brook deposit

Puma has a PEA underway on the Murray Brook deposit

The 405m intersection from 27m contained an overall 3.3% zinc, 1.1% lead, 0.95g/t gold, 42g/t silver and 0.3% copper, and higher-grade zones including 160m at 2g/t gold.

The results will be incorporated into a resource model and the current preliminary economic assessment.

The deposit in the Bathurst mining camp in New Brunswick contains a measured and indicated 5.28 million tonne resource at 5.24% zinc, 0.24% copper, 1.8% lead, 68.9g/t silver and 0.65g/t gold.

The drilling results come as the zinc price sits around a 10-year high and at more than US$3,300/t this week is more than double what it was worth in January 2016.

Puma secured the option to acquire a 100% beneficial interest in the Murray Brook property in May.

Shares in Puma leapt more than 46% yesterday to C$0.11, capitalising the company around $21.5 million.

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