VANCOUVER, BRITISH COLUMBIA ("Puma" or the "Company") is pleased
to announce results from the last exploration program on its Kola
PGM project located in northwest Russia near its border with
Finland.
Pursuant to the sale of Bema Gold Corporation ("Bema"), Kinross
Gold Corporation ("Kinross") now owns the 34.7% block of shares
previously held by Bema. B2Gold Corp. ("B2Gold") did not exercise
its one year option to acquire these shares from Kinross, which
ended on February 27, 2008. B2Gold is currently managing the
affairs of the Company until its Annual General Meeting scheduled
for June 12, 2008.
2008 General
The Company continues to wait for final Russian approval for the
Exploitation License for its East Chuarvi PGE deposit, and for its
application for a five year extension of the East Pansky
Exploration License.
2007 Exploration Activities
The Company focus in 2007 was two fold. First to determine if
additional PGM mineralization occurs below the existing East
Chuarvi deposit and secondly further drill test the FWC, the major
PGM horizon on the property, away from the East Chuarvi deposit.
The FWC is the geological contact between the major magmatic cycles
within the lower part of East Pansky Layered Intrusion and hosts
significant PGM mineralization including the East Chuarvi
deposit.
In 2007 through to January 2008 the Company drilled six areas
and completed forty seven drill holes for a total of 9,867 meters
(m). The FWC contact has now been tested along most of its
twenty-three kilometer (km) strike length in the East Pansky
Intrusive body and the gaps are mainly less than 500 m between
drill holes. The best and also representative drill assays are
compiled in the table below.
East Chuarvi PGM deposit
Four drill holes totaling 2,164 m tested for new PGM
mineralization up to 200 m below the eastern half of the existing
Russian government approved resource. All four intersected the
favourable FWC horizon and found sulphide mineralization. The best
drill hole, P-532 assayed 4.41 g/t Pt+Pd+Au over 5.15 m which
included 11.06 g/t Pt+Pd+Au over 1.0 m. These results indicate the
PGMs extend beyond the resource block and are open to depth.
Five other drill holes (totaling 791 m) tested the western
extension of the FWC in two drill fences 700 and 1200 m west of the
East Chuarvi resource boundary. Only one drill actually intersected
the FWC indicating some local complexities with its position in
this area. That intersection (0.98 g/t Pt+Pd+Au over 3.40 m in
drill hole P-542) occurs approximately thirty m below the FWC.
East Churozerski Area
This area includes 1,200 m strike length of the FWC and is
located on the eastern part of the East Pansky Intrusion before its
strike turns south and becomes considerably thinner. As per the
June 7, 2007 News Release, last April Puma drilled four holes for a
total of 498 m along the remaining untested 600 m strike length of
the FWC that was intersected in three holes, but only elevated PGMs
were detected.
Churozerski Area
Twelve drill holes totaling 4,484 m tested the FWC and one drill
hole (P-522) tested the Upper Olivine Horizon associated with
Horizon A. The best results are from drill hole P-517 which assayed
3.67 g/t Pt+Pd+Au over 0.40 m. Drill hole P-522 intersected 0.60
g/t Pt+Pd+Au over 0.50 m located approximately twelve meters below
the Upper Olivine Horizon. The FWC is expected to have a total
strike length of 3,500 m across this area.
Bezimyanyi Area
This area covers 1,800 m strike length of the FWC and is located
immediately east of the East Chuarvi resource. Puma drilled three
holes in 2007 for a total of 965 m along the central 200 m section
of the FWC. Two intersected the FWC while one went directly into
the underlying magmatic stratigraphy. Drill hole P-526 intersected
1.53 g/t Pt+Pd+Au over 1.65 m including 4.30 g/t Pt+Pd+Au over 0.50
m.
Chuarvi Area
Re-interpretation of previous Puma drilling and geological
mapping identified a possible embayment formed by the FWC cutting
down into the underlying Upper Olivine Horizon of Horizon A. This
hosts high grade PGMs within the embayment and along its flanks.
Prior to 2007 the best intercept here was drill hole P-481 which
assayed 9.77 g/t Pt+Pd+Au over 4.20 m.
In 2007 Puma tested for additional mineralization down dip of
the embayment and across the upper flank. Three of four drill holes
intersected the target with the best assays in P-528 which assayed
8.72 g/t Pt+Pd+Au over 2.95 m which included 30.36 g/t Pt+Pd+Au
over 0.45 m. None of the others are considered significant however.
This part of Chuarvi is located 5.0 km west of the East Chuarvi
deposit.
West Chuarvi Area
This area lies on the western border of Chuarvi and drilling has
tested 1,570 m of the interpreted 3,450 m of possible FWC without
finding any significant PGM mineralization. All drill gaps are less
than 1200 m in length.
Peshempakh Area
In 2007 Puma re-mapped much of the West Pansky Intrusive which
is thought to be a separate magma phase of the Pansky Intrusive.
However this recent work indicates much of the southern part of the
intrusion consists of rocks similar to those at East Pansky. This
implied the presence of FWC style PGM mineralization and possibly
the same for PGM bearing Horizons A and C. Therefore Puma decided
to drill test the newly interpreted FWC, along with Horizons A and
C in areas where earlier work had found large boulders with PGMs
(South Peshempakh). Three holes tested the interpreted FWC
equivalent to the East Pansky intrusive, but did not intersect any
significant PGM mineralization. Five drill holes tested the
equivalent to Horizon A in areas where mineralized boulders were
found. The best drill intersection was in drill hole which
intersected 8.55 g/t PGMs over 0.35 m. Collectively these horizons
are referred to as the Upper Layered Horizon. In addition a single
drill hole tested the possible equivalent to Horizon C in the East
Pansky intrusive, but no significant mineralization was detected
either.
Three drill holes tested the Lower Layered Horizon (previously
referred to as North Peshempakh) where surface work had identified
intermittent PGM mineralization along a 1,500 m strike length. The
best drill intersection assayed 4.04 g/t PGMs over 0.50 m in drill
hole P-548.
In total twelve drill holes totaling 2,588 m were drilled in
Peshempakh area within the West Pansky Intrusive.
Select Assay Results from 2007 Drilling Program
---------------------------------------------------------------------------
Tar-
get Inter-
Drill Hori- From To val Au Pt Pd PGE +
Hole # Location zon (m) (m) (m) g/t g/t g/t Au g/t Pd/Pt
---------------------------------------------------------------------------
P-509 E Churozerski FWC 47.85 48.25 0.40 0.03 0.23 1.03 1.29 4.5
---------------------------------------------------------------------------
P-517 Churozerski FWC 17.00 17.40 0.40 0.22 1.98 0.46 3.67 0.7
---------------------------------------------------------------------------
P-525 Bezimyanyi UMZ 14.60 22.20 7.60 0.10 0.40 0.50 1.00 1.3
---------------------------------------------------------------------------
P-526 Bezimyanyi FWC 359.30 360.95 1.65 0.10 0.51 0.92 1.53 1.8
---------------------------------------------------------------------------
P-528 Chuarvi FWC/
UOH 85.40 88.35 2.95 0.10 3.66 4.96 8.72 1.4
Includes 86.00 86.45 0.45 0.26 11.40 11.00 30.36 1.1
---------------------------------------------------------------------------
P-532 E Chuarvi FWC 508.25 513.40 5.15 0.19 1.44 2.78 4.41 1.9
Includes 512.40 513.40 1.00 0.50 3.89 6.67 11.06 1.7
---------------------------------------------------------------------------
P-484 W Chuarvi LOH 333.5 335.5 2.0 0.01 0.12 0.06 0.19 0.5
---------------------------------------------------------------------------
P-542 S Peshempakh LLH 54.05 54.45 0.40 0.01 0.52 1.50 2.03 2.9
---------------------------------------------------------------------------
P-545 S Peshempakh LLH 332.65 333.00 0.35 0.26 1.14 7.37 8.77 6.5
---------------------------------------------------------------------------
P-548 N Peshempakh ULH 102.40 102.90 0.50 0.03 0.52 3.49 4.04 6.7
---------------------------------------------------------------------------
FWC - marker boundary of two stratigraphy units, GNZ1 and GNZ2 of
Gabbronorite Zone, East Pansky Intrusive
UOH - Upper Olivine Horizon, part of Horizon A
LLH - Upper Layered Horizon, possible equivalent to Horizon A of East
Pansky Intrusive
2008 Plans
Puma is currently re-calculating new Russian style ore resources
for the East Chuarvi, Bezimyanyi, and Chuarvi areas. Following this
work the company will decide on further exploration work. The
company will also complete its technical report obligations to the
Russian government geological agencies.
The above drill assays were submitted to Mekhanobr laboratories
in St. Petersburg, Russia and a full QAQC program was employed that
included reference standards, blanks and duplicates (field, split
and pulp). The final results for these drill holes fell within
acceptable limits. The Qualified Person for the Kola Project is Tom
Garagan (P. Geo.) Senior Vice President, Exploration for B2Gold and
a director of Puma.
On behalf of CONSOLIDATED PUMA MINERALS CORP.
Roger Richer, President and Director
Consolidated Puma Minerals Corp. trades on the TSX Venture
Exchange under the symbol CPW.
Some of the statements contained in this release are
forward-looking statements, such as estimates and statements that
describe the Company's future plans, objectives or goals, including
words to the effect that the Company or management expects a stated
condition or result to occur. Since forward-looking statements
address future events and conditions, by their very nature, they
involve inherent risks and uncertainties. Actual results in each
case could differ materially from those currently anticipated in
such statements.
The TSX Venture Exchange neither approves nor disapproves the
information contained in this News Release.
Contacts: Consolidated Puma Minerals Corp. Ian MacLean Vice
President, Investor Relations (604) 681-8371 Consolidated Puma
Minerals Corp. Kerry Suffolk Manager, Investor Relations / Finance
(604) 681-8371 Website: www.pumaminerals.com
Consolidated Puma Minerals Corp Com Npv (TSXV:CPW)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Consolidated Puma Minerals Corp Com Npv (TSXV:CPW)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024
