Puddle Pond Resources Inc. of Clarke’s Beach, NL is pleased to report results from the highly successful exploration program ongoing at its Heritage Project in Southwestern Newfoundland. A 1st phase of surface mapping and prospecting has been completed over the 746 claims comprising the project. New discoveries of epithermal gold – silver mineralization and base metals mineralization have been reported in areas up to 20 kms from the main target zone where bonanza grades of up to 117 grams/tonne (3.76 ounces/ton) gold and 2769 grams/tonne (89 ounces/ton) silver were reported earlier this year (ref. Press Release May 30, 2012).
This newly discovered mineralization is also hosted in the silica – quartz vein alteration hosting the bonanza grades where geological mapping, prospecting and trenching earlier this summer confirm bedrock mineralization. The mineralization is trending north-east from the discovery site just north of the Burin Peninsula paved highway and the new gold discovery is 20 kms along strike from the discovery zone. A sample of quartz vein assayed at Eastern Analytical Laboratories in Springdale, NL yielded 2.64 g/t gold from this new prospect labeled the North Star Prospect.
This prospect is now being targeted for follow-up detailed prospecting to determine the extent of the mineralization in an attempt to establish if it might be a continuation of the intense silicification and mineralization delineated 20 kms southwest of the North Star Prospect. Interestingly, the first prospecting and mapping traverses completed in the area has also uncovered a 2 km boulder train of quartz veins and quartz rich boulders that is 4 kms south along the strike direction to the main target zone and further evidence that indeed the Heritage epithermal system is large.
Assay results just received from Eastern show base metals enrichments in zinc up to 1.02%, lead up to 0.27% and copper up to 0.12% accompanied by cadmium up to 4.83 g/t and bismuth up to 2.9 g/t. This other new prospect is labeled the Lakeside Prospect and together with the North Star Prospect provides a new prospecting target at least 4 kms in length.
The company also reports an excavator is being mobilized for commencement of trenching over the main target zone where 18 trenches along a 2.5 km section of this zone containing the bonanza grades will be completed for surface channel sampling. Puddle Pond has applied to the Department of Natural Resources for a drilling permit designed to carry out follow-up testing of this main target area labeled the Turpin Zone after original discoverer, prospector Alex Turpin.
Industry consultant, Victor A. French, P.Geo., Vice President of Exploration for Puddle Pond Resources and a qualified person as defined by National Instrument 43-101 reviewed the scientific and technical information contained in this news release.