Puma drills copper-gold prospect

Drilling will resume on the Uspallata project in west-central Argentina.

VSE-listed Puma Minerals (formerly Abo Resources) has outlined a potential porphyry copper-gold prospect within its 400,000-hectare project area. The target, known as Salado, measures at least 1,000 by 800 metres.

Select results from a preliminary, 16-hole program of reverse-circulation drilling are as follows: 68.6 metres of 0.24% copper and 0.15 gram gold per tonne for hole 95-9; 21.3 metres of 0.31% copper and 0.16 gram gold plus 85.4 metres of 0.3% copper and 0.19 gram gold for 95-12; and 45.7 metres of 0.53% copper and 0.11 gram gold for 95-15.

The second phase of drilling will attempt to delineate a higher-grade, central core, as well as test targets that are currently being defined by geophysical surveys.

Puma is earning a half interest in the project from Argentina Mineral Development. To do so, it must spend US$3 million over three years and make property payments amounting to US$350,000. The company has budgeted more than US$4 million for exploration.

Puma has 15.8 million shares outstanding (25.4 million fully diluted), with Bema Gold (TSE), the largest shareholder, owning 47.5%.