According to analysts at fund management company Fat Prophets, there is a strong possibility that gold could test new highs of $2,100 per ounce this year. Increasing inflation coupled with rising tensions between major military powers, particularly Russia and Ukraine, are some of the catalysts that are likely to be responsible for the increase in gold prices.
As such, it appears that the year is off to an excellent start for Puma Exploration (TSXV:PUMA) (OTC:PUXPF), going by its most recent announcement. The company just reported that it had tested record high-grade gold samples on its Williams Brook Gold Project located in New Brunswick, Atlantic-Canada. A grab sample returned 371.00 g/t Au*, the highest gold-grade reported to date.
And these are not the first high-grade gold samples the project has yielded. Back in September last year, Puma reported other highly encouraging surface grab results of 240.00 g/t Au which returned 5.55 g/t Au over 50.15 m at depth.
The results were from the company’s stripping program at the O’Neil Gold Trend (“OGT”) where several new quartz veins were discovered and sampled, resulting in Puma making this area the first priority target of its 2022 10,000 meter drilling program. Mobilization for Puma’s 10,000 meter drilling program at the project is already underway and will focus on the high-grade gold zones of the O’Neil Gold Trend discovered this year after surface exploration work.
Puma’s Williams Brook Gold Project is located in a potential gold district that is currently underexplored and the quartz veins containing the high-grade gold are similar over the entire 750 meters-long OGT. “We are very excited to test the areas that have returned very high-grade gold at surface. This could parallel the success of our inaugural 2021 drilling program,” commented Marcel Robillard, President & CEO of Puma Exploration.
Currently, the precious metal is selling at $1830 per ounce, a 10% increase on a year-to-date basis but it still remains to be seen whether it will manage to outperform other precious metals this year.
