- Puma Exploration (PUMA) has completed all option agreement payments in order to complete the 100-per-cent acquisition of the Williams Brook Gold Project
- The project is located in the Bathurst Mining Camp in New Brunswick.
- The Vancouver-based mineral exploration company accelerated the consolidation, after the success of its recent drilling campaign
- Exploration work conducted on the property is sufficient to cover the minimum work expenditures requirement with the New Brunswick government and renew the property leases
- Puma Exploration is down 4.65 per cent, trading at $0.41 at 1:12 pm EST
Puma Exploration (PUMA) has completed all option agreement payments in order to complete the 100-per-cent acquisition of the Williams Brook Gold Project.
The project is located in the Bathurst Mining Camp in New Brunswick.
The Vancouver-based mineral exploration company accelerated the consolidation, after the success of its drilling campaign. One drill hole returned 5.5 grams of gold per tonne over 50.15 metres extending the continuous gold mineralized corridor for more than 275 meters along the project’s O’Neil Gold Trend.
The acquisition and the consolidation of the Williams Brook Gold project began in early 2020 and most of the properties were currently standing at the second year of the four-year option agreements.
A total of 25 contiguous claim blocks were consolidated and constitute the entire land package of the Williams Brook Property.
Puma then accelerated the payments to fulfill all the requirements under the various agreements and proceed with the titles transfers.
Puma is now the 100-per-cent registered holder of the minerals rights totalling 32,214 hectares.
The exploration work conducted on the property is sufficient to cover the minimum work expenditures requirement with the New Brunswick government and to renew the properties for the next few years.
“The aggregation of all the Williams Brook Gold claim group through the buyout of the options will enable the Company to better allocate its exploration expenditures and ensure a more efficient utilization of financial and human resources to thoroughly and systematically explore for gold on our extremely well positioned properties in the new emerging gold district of New Brunswick,” said Pume Exploration President Marcel Robillard.
Puma Exploration is down 4.65 per cent, trading at $0.41 at 1:12 pm EST.