Canadian Mining Journal

News

GOLD: Moneta intercepts 47.00 m @ 2.08 g/t in a new mineralized shoot at Southwest Zone



TORONTO – Moneta Porcupine Mines Inc. is pleased to announce the results from seven additional diamond drill holes completed on the South West Deposit (“South West”) located within the Company’s Golden Highway Project, located 110 km east of Timmins.

Southwest Zone core samples. Courtesy of Moneta Porcupine

 

Highlights:

Step-out drilling at South West has identified a new mineralized shoot (SW-6) and the extensions of two (2) new veins to the West. Results continue to extend the strike and depth extent of the known vein structures and mineralized shoots.

Mineralized Shoots

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SW-6

Drill hole MGH18-091 intersected a new mineralized shoot (SW-6) assaying 47.00 metres (“m”) @ 2.08 grams per tonne gold (“g/t Au”) including 1.86 m @ 5.66 g/t Au and 1.00 m @ 6.49 g/t Au

 

Vein Structures

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Willow Vein

MGH18-090 intersected Willow vein extending the vein by 50 m to the north assaying 3.30 m @ 3.67 g/t Au including 1.00 m @ 7.06 g/t Au

Redwood Vein

Drill hole MGH18-088 intersected 4.70 m @ 2.16 g/t Au including 1.00 m @ 3.74 g/t Au extending Redwood by ~100 m to the south

   

West #1 Vein

Drill hole MGH18-093A intersected a new vein structure West Vein #1, assaying 10.00 m @ 2.11 g/t Au including 3.15 m @ 3.24 g/t Au and 1.00 m @ 4.09 g/t Au 300m south of the West veins

West #2 Vein

A second vein structure West Vein #2 was intersected in drill hole MGH18-093A assaying 3.00 m @ 3.28 g/t Au including 1.15 m @ 7.03 g/t Au extending the structures by 300 m to the south

 

Gary O’Connor, CEO & Chief Geologist commented, “We continue to be encouraged by the drill results which have continued to extend mineralization and intersected new mineralization. We have now identified seventeen (17) vein structures and along strike and nine (9) mineralized shoots, ultimately adding to the overall size potential at South West. These results continue to increase our confidence and understanding of the vein structures and stockwork zones. We plan to complete the logging and assaying of core from the expanded drill program on the Golden Highway project in order to define a larger gold system; increase the number of veins and shoots; and confirm the higher grade mineralization in preparation for a resource update.”

The latest assay results are from seven drill holes totalling 3,868.0 m of drilling at South West that continues to test the higher grade structural targets. The drill program at South West follows up on the previously announced exploration drill program undertaken by the Company in late 2017 and 2018 that was expanded to 41,100 m in 70 drill holes. Assays for the remaining drill holes are pending and will be released as they become available for the South West and “55” areas.

For the full results, please visit www.monetaporcupine.com.