Victor (Vic) French, President & COO of Puddle Pond Resources (the “Company”), is pleased to provide the following Corporate update on Puddle Pond’s recent activities:
· The Company now holds more than 75,000 hectares (>750 km2) of mineral claims on the Island of Newfoundland in the form of 13 properties that are highly prospective for one or more of the following types of mineral deposit:
- Epithermal gold-silver mineralization
- Precious-metal-rich volcanogenic massive sulphide deposits
- Orogenic-type (structurally controlled) gold deposits
· Negotiations are currently underway to add another 15,000 hectares (150 km2) to the Company’s already extensive land holdings, in the form of eight properties, seven of which have excellent copper and/or gold potential, and three of which are in the “Central Newfoundland Gold Belt”
· Prospecting at the newly acquired “Calvin’s Landing” epithermal gold property (located close to Glovertown and the Trans-Canada Highway) has yielded values of up to 1.5g/t Au in rocks from the area of silica-alunite-pyrophyllite alteration
· Ongoing prospecting at the newly acquired “Painted Dory” property on the Baie Verte Peninsula has confirmed the existence of copper-silver-gold mineralization both in surface outcrop and locally sourced, mineralized boulders; new assays range up to 19.7% Cu, up to 70 g/t Ag, and up to 2.5g/t Au. Also, limited soil and till sampling has corroborated the location/size of historical gold-in-soil and gold-in-till anomalies identified in the early 1990s.
· Prospecting at the “Lake Bond” VMS Cu-Zn-Ag-Au property is expected to start this month, with particular attention being paid to the area immediately to the east of Skull Pond, where the “Lake Bond West” gold occurrence is comprised of quartz-arsenopyrite veinlets with a single historical assay returning 4g/t Au.