Puma Exploration (TSXV: PUM) has been active in the Bathurst Mining Camp of northern New Brunswick for more than a decade, but stepped up its involvement last year with agreements to acquire 100% of the Murray Brook project, 60 km west of the city of Bathurst.
The junior inked deals in October 2016 to acquire Votorantim Metals Canada’s 67.9% stake in the project and the remaining 32.1% held by El Nino Ventures (TSXV: ELN) for a total consideration of about $9 million.
The volcanogenic massive sulphide deposit is just 4 km from Trevali Mining Corp.’s (TSX: TV; US-OTC: TREVF) Caribou mine, which produces zinc and lead-silver concentrates, and 7.5 km from the past-producing lead-zinc-silver Restigouche mine.
Between 1989 and 1992, Murray Brook’s previous owner, NovaGold (TSX: NG; NYSE: NG), mined 2.7 million tonnes of the gold-enriched gossan cap overlying the sulphide deposit, recovering 45,000 ounces of gold and 315,000 ounces of silver.
Continue reading at The Northern Miner.