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Puma Exploration estimates 5.28 million-tonne resource at Murray Brook deposit

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Puma Exploration estimates 5.28 million-tonne resource at Murray Brook deposit

Puma Exploration Inc. estimated a 5.28 million-tonne NI 43-101-compliant measured and indicated sulfide mineral resource at its acquisition target, the Murray Brook deposit in New Brunswick.

The deposit contains 610 million pounds of zinc, 209 million pounds of lead, 54 million pounds of copper, 11.7 million ounces of silver and 111,000 ounces of gold at an average grading of 5.24% zinc, 1.80% lead, 0.46% copper, 68.9 g/t of silver and 0.65 g/t of gold. The estimate has an C$85-per-tonne net smelter royalty cutoff in the sulfide measured and indicated categories.

The measured and indicated categories include 68% and 30%, respectively, of the total estimate, according to the Dec. 21 release.

The estimate will be used to launch a preliminary economic assessment for underground mining operation in the first half of 2017.

Earlier in December, Puma signed a letter of intent to acquire Murray Brook Minerals Inc. and all of its assets, including the Murray Brook property.