Nine Mile Metals Ltd. press release
Puma Exploration obtains an option to acquire a multi-metal property (Cu, Zn, Pb, Ag) Update
CSE - Canadian National Stock Exchange · Copper · Zinc · Lead · Silver · Gold · Indium · Canada
PUM-TSXV
RIMOUSKI, Oct. 31 /CNW Telbec/ - Puma Exploration (PUM-TSXV) announces that it has obtained from Aurogin Resources Ltd. (AUQ-TSXV) an option to acquire 100% of the multi-metal (Cu, Zn, Pb, Ag) Nicholas Denys property. Puma becomes operator of the northern New Brunswick property. The property hosts over 50 anomalies all associated with granitic pluton of the same name and adjacent to limestone that was hydrothermally altered and mineralized. Some anomalies were tested by past operators. The most important being:
Beresford Copper (1) 200,000 tons (at) 2% Cu (est. from 118 DD. holes drilled from 1950 to 92.)
Millstream (2) 105,000 tons (at) 3.4% Zn, 2,82% Pb and 73.07 gr/t Ag (est. from 22 DD. holes)
North (3) 500,000 tons (at) 0.20% Mo (est. from 12 DD. holes drilled from 1967-69)
These estimates pre-date and therefore are not in accordance with National Instrument 43-101. Puma has not done the work necessary to verify the classification of these resources and they should not be relied upon. It should be notice that all this estimates are based on historical data and it's possible that new works over the same area won't reproduce the same result. As a first step, Puma Exploration plans to verify the anomalies detected during the 2005 AeroTEM II survey, several of which revealed extensions of known indicators. Most anomalies did not undergo detailed exploration. The most promising ones will be tested by diamond drilling. To fulfill its obligations, Puma Exploration must carry out exploration works over a three-year period for a total of $500,000, followed by a projected annual $100,000 payment to Aurogin until production start-up, and there after a 3% N.S.R. will be paid on gold and silver. Puma Exploration firm commitment for year one consist of $200,000 of exploration work. The contiguous 292-claim Nicholas Denys property covers an area of 53 square km roughly 20 km from the Town of Bathurst and 25 km from the Brunswick 12 mine infrastructure and the Belledune refinery.
Note 1 LENTZ, D.R., WALKER, J.A., and STIRLING, J.A. 1995. Millstream Cu-Fe skarn deposit: An example of a Cu-bearing magnetite-rich skarn system in northern New Brunswick. Exploration and Mining Geology. Note 2 Davies, J. L., 1969, - Geology and Mineral Deposits of the Nigadoo River - Millstream River Area, Gloucester County, New Brunswick; . Commission gDeologique du Canada, Etudes , 67-49, 1969 Note 3 Ritchie, C.T., 1967, P.Eng, - Exploration report, New-Brunswick Molybdenum Mines Limited, Nicholas-Denys Area, New-Brunswick, Project 458.
AndrDe de Guise P. Eng. a qualified person as defined by National Instrument 43-101 supervised the preparation of the in this news release. This agreement is subject to the approval of regulatory authorities. The TSX Venture Exchange does not accept any responsibility for the content of this press release as being truthful or accurate.