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Junior exploration company, Puddle Pond Resources Inc. reports an extensive trenching program just completed on the Heritage Epithermal Gold-Silver Project has produced highly positive results that confirm an epithermal gold-silver mineralized system of substantial size is located on the project area. This system was targeted for excavator trenching to follow up on earlier surface sampling which confirmed widespread concentrations of gold-silver yielding bonanza grades up to117 g/t gold (3.76 oz /t) and 2769 g/t silver (89 oz /t), see earlier press release dated May 30, 2012.
Based on the earlier sampling, the area of the mineralized system was outlined to be at least 2.5 kms long and up to 1 km wide. A series of two dozen trenches along the target zone has uncovered a zone, described by contract geologist Baxter F. Kean, P.Geo “as a north-south elongated zone of spectacular, multiple episode vein breccias (hydrothermal/epithermal breccias). The multi episode silica/quartz veining form a box-work network with at least 3 episodes documented in most breccias”. He concludes “this system has all the characteristics of a low-sulphidation epithermal style gold-silver system. (Mr. Kean, a former mineral deposits geologist with the NL Government, was retained to complete detailed mapping of the bedrock exposed during the Sept – Oct trenching).
Over 600 samples were channel cut from the alteration zone exposed throughout the trenches along the 2-5 km strike length outlined to date and shipped to Eastern Analytical Laboratories at Springdale, NL. Almost all of the assay results are in and these further confirm the well developed and mineralized nature of the epithermal system highlighted by:
a) All channel samples from the epithermal zone contain gold
b) Individual sections of well developed, intense silica alteration/quartz veining are up to at least 200 metres wide, and trenching at boulder locations have uncovered new sections of mineralized bedrock such as the newly identified Zaxis Prospect
c) 12 trenches over a 1 km strike length section of the 2.5 km epithermal alteration zone have uncovered the strongest gold-silver mineralization in the trenches to date with highly anomalous gold-silver along this enriched 1 km section. Channel samples contain strong enrichments in gold ranging up to 13.1 g/t and silver up to 320 g/t
Mr. Len Muise, Puddle Ponds CEO and chairman states the company is extremely pleased with these results, noting “to achieve this level of positive results in the first exploration season on this new discovery is highly encouraging”. He adds “there is another prospecting target identified this summer such as the North Star Prospect where 2.3 g/t gold was discovered 20 km north in similar rocks”.
The technical information was compiled by Victor A. French, P. Geo., Vice President of Exploration for Puddle Pond and a qualified person as defined by National Instrument 43-101.