07 Feb 2018

NL based mineral resource company Puddle Pond Resources Inc. is pleased to report Tier 1 drilling of 1107 metres completed in December at four prospects selected for initial drill testing intersected the down-dip extension of all four prospects accompanied by gold (Au) and silver (Ag) mineralization, and thereby achieving the program objectives. The purpose of the drilling was to determine if the silica and quartz – veined alteration (hydrothermal breccia – HTB) containing the Au and Ag uncovered in bedrock extended down-dip below the surface exposures. The prospects are up to 1000 metres from the Eagle Zone which contains a (yet to be 43-101-compliant) mineral inventory of 76,074 oz of equivalent gold, which is gold + silver expressed as gold.


Highlights from the drilling include thick intersections of HTB such at the Flatbed Zone where the drill hole intersected the HTB from surface to a core depth of 137 m.  The thick intersection in this hole drilled at a dip of -45° represents a true thickness of approx.70 m, the thickest section of HTB drilled on the Heritage Project to date. This thick intersection throughout contains weakly anomalous Au values up to 0.20 g/t Au with weak Ag values up to 10.0 g/t.


Within the 70 metre zone, there is a 10.82 m (35.5 ft.) section of higher grade Au and Ag; highlights include eight 0.20 to 1.17 m sample intervals containing 0.25 to 1.05 g/t Au and 13.9 to 326.0 g/t Ag. This high-grade Ag value accompanied by 1.05 g/t Au is over a 1.17 m interval and is the best Ag assay in drill core outside of the Eagle Zone located 1000 m southwest.  This 10.82 m (35.5 ft) section is also base metals rich containing 0.43% zinc (Zn) and 0.15% lead (Pb) with a best grade – thickness interval of 1.00 % Zn and 0.30% Pb over 2.21 m (incl.0.20 m at 3.42% Zn and 0.82% Pb).


Drilling at the Zaxis Prospect, 650 metres west of the Flatbed intersected strong Au mineralization with an assay of 5.10 g/t Au over 1.12 metres. This assay is part of a wider interval of 2.65 m (8.70 ft) grading 2.52 g/t Au and represents the highest gold assay in drill core outside of the Eagle Zone.


Initial holes drilled at the Mossy and Whalesback Prospects also successfully intersected sections of the mineralized HTB up to 40 metres thick, with anomalous Au up to 0.29 g/t Au and anomalous Ag up to 8.0 g/t throughout. The Mossy and Zaxis Prospects are along a 1400-metre-long structure and the Whalesback and Flatbed Prospects along a 2500-metre-long structure, and these initial drill intersections yielding high-grade Ag at 326.0 g/t and Au at 5.10 g/t provide evidence for intersecting significant precious metals along these two major structures.  (The Eagle Zone containing the mineral inventory is along a separate 1500-metre-long structure.)


These latest positive drill results add to the Au, Ag and base metals mineral potential on the Heritage Project and provide new targets for follow-up drilling.  These targets which were detected from earlier surface surveys are now enhanced by the latest drill results confirming thick drill intersections of the HTB and strong increases of Au and Ag below surface.  There are seven other prospects yet to be drill-tested and these prospects are sited along two other structures yet to be drill tested within the 4.5 x 2.5 km area of epithermal alteration hosting the Au and Ag mineralization.


The technical information in this release was compiled by President & COO Victor A. French, P. Geo who is a qualified person under NI 43-101 guidelines.

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