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DEAR Strategy Puma Acquires Portage Lake Cu-Ni-Co-Fe Project in Northern New Brunswick

Mining News - Published on Fri, 18 Oct 2019

Image Source: globenewswire.com
In line with its DEAR Strategy Puma Exploration has signed a purchase agreement to acquire the Cu-Ni-Co Portage Lake Property located in the Murray Brook area from local prospectors. The property covers a Devonian mafic intrusion (4km by 6km) and its associated skarn horizons of the Chaleur Group, containing both significant Copper-Nickel and Cobalt mineralization. The Portage Lake Property contains several showings with the most promising discovered in the last trenching program conducted on the property in 2017. The prospector excavated an area of 100 meters consisting of mainly skarn alteration containing 50 meters of Massive Sulphide showing significant Iron, Copper, Nickel and Cobalt (click for photo.) Grab samples grading 0.2 g/t Au and 0.6 g/t Au were collected just north of this recent trench. To be noted that NO samples were assayed for Pt-Pd group elements yet. Very limited advanced work has been conducted on the property which offers huge potential for new discoveries.

Mr Marcel Robillard CEO and President of Puma Exploration said that “The acquisition of the Portage Lake Cu-Ni-Co property consolidates our land holdings in the western part of the Murray Brook area with more than 10,000 hectares now under control. The Portage Lake Property offers a variety of different metals exposures such as Nickel-Cobalt that could potentially allow us to make new discoveries, adding to our diversified portfolios in precious and base metals. The mafic Portage intrusion could be the potential heat source of the proximal VMS deposits but also contains skarns and epithermal Gold deposits."

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Posted By : Rabi Wangkhem on Fri, 18 Oct 2019
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