Canadian Mining Journal

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GOLD: Moneta continues to expand Golden Highway project



Diamond drill core with visible gold from the Golden Highway property in Ontario. (Image: Moneta Porcupine Mines)

ONTARIO – Toronto-based Moneta Porcupine Mines has punched two drill holes in the South West gold deposit at its Golden Highway project 110 km east of Timmins

Hole MGH19-119 cut the eastern main veins within the current resource, and it extended the gap veins to depths of 100 metres below the resource:

  • Yew vein: 4.8 metres of 1.46 g/t gold, including 0.8 metre at 2.75 g/t and 1.0 metre at 2.30 g/t, plus 2.0 metres at 3.17 g/t;
  • Gap 2 vein: 4.4 metres of 2.61 g/t gold, including 2.0 metres of 3.37 g/t; and
  • Gap 1 vein: 4.2 metres averaging 3.04 g/t gold, including 2.1 metres of 5.41 g/t gold and 1.0 metre of 13.65 g/t.

Hole MGN19-120 intersected the eastern main veins and gap veins up to 100 metres south of the updated resource at shallow depths:

  • Sycamore vein: 6.0 metres grading 2.53 g/t gold, including 1.0 metre at 7.19 g/t; and
  • Gap 3 vein: 7.4 metres grading 2.03 g/t gold, including 1.4 metre at 6.70 g/t, and 4.35 metres at 6.94 g/t gold, including 2.6 metres at 9.30 g/t.

Moneta has defined the South West deposit and gap area as a series of mineralized vein structures and association stockwork zones, occurring adjacent to the regional banded iron formation.

More information may be found at www.MonetaPorcupine.com.