Puma Exploration Intersects 5.11 g/t Au over 6.60 m, Including 66.10 g/t Au over 0.50 m at Lynx Gold Zone
Kinross-backed exploration hits high-grade targets as Puma cleans up balance sheet for 2026 campaign.
The most recent news (February 4, 2026) reports final assay results from the 2025 drilling program at the Williams Brook Gold Project, funded by Kinross Gold Corporation. Key highlights include hole WB25-181, which intersected 5.11 g/t Au over 6.60 m (including 66.10 g/t Au over 0.50 m). This program successfully expanded the Lynx Gold Zone (LGZ) to a strike length of 800m and a vertical depth of 250m. Furthermore, the company recently closed a $2.0 million strategic investment from Kinross and completed the sale of its Turgeon Project to Raptor Resources, receiving approximately $391,000 in cash and 18.75 million shares of Raptor Metals Ltd. (ASX: RAP).
The impact is Material - Positive based on three converging factors: - Technical Validation: The 2025 drill results confirm that the Lynx Gold Zone remains open in all directions and continues to produce high-grade "nuggety" intercepts (66.10 g/t Au) within broader mineralized envelopes. The success of the "confirmation drilling" validates Puma’s geological model to their senior partner, Kinross. - Strategic Partnership: Kinross Gold has not only committed to Year 2 of the option agreement ($3 million minimum spend) but has also increased its direct equity stake in Puma via a $2 million private placement at $0.16. This provides a "floor" for the stock and reduces the risk of predatory financing. - Liquidity and Focus: The completion of the Turgeon asset sale and the receipt of significant equity in ASX-listed Raptor Metals provides Puma with non-dilutive liquidity. The company is successfully transitioning from a multi-asset prospect generator to a focused gold explorer with a major partner and a secondary 100%-owned project (McKenzie).
Puma Exploration is a Canadian explorer focused on the Bathurst Mining Camp in New Brunswick. Its flagship is the Williams Brook Gold Project (40,225 hectares). The project is characterized by an orogenic gold system with high-grade quartz veins at the contact between rhyolite and sediments. The project is currently under option to Kinross Gold, which can earn a 65% interest by spending $16.75 million. Puma also holds the McKenzie Gold Project, where it recently launched its own 2,500m drilling program.