Canadian Mining Journal

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GOLD: Moneta reports high grades from step-out drilling at Golden Highway



Location map of the South West deposit at Moneta’s Golden Highway project east of Timmins, Ont. (Image: Moneta Porcupine Mines)

ONTARIO – Toronto-based Moneta Porcupine Mines is reporting high grades from step-out drilling at the South West deposit located at the Golden Highway project 110 km east of Timmins. The work continues to extend the strike and depth of the vein structures and two mineralized shoots. One new vein, named Redwood, has also been intersected.

Here are some highlights:

  • Redwood vein: 3.30 metres at 7.60 g/t gold including 2.40 metres at 10.06 g/t;
  • Spruce vein: 0.70 metres at 30.20 g/t gold and 3.70 metres at 5.17 g/t;
  • Maple vein: 1.31 metre at 7.46 g/t gold, extending the vertical extent of this vein by 100 metres with an intercept of 0.60 metres at 10.55 g/t;
  • Alder vein: 1.30 metres at 16.21 g/t gold including 0.76 metres at 26.60 g/t, extending the vein by 50 metres to the south and to a depth of more than 100 metres;
  • Balsam vein: 4.00 metres at 3.77 g/t gold including 1.0 metre at 6.33 g/t, extending Balsam to depth by roughly100 metres; and
  • Cedar vein: 1.16 metre at 6.10 g/t gold confirming the near surface extensions of Cedar.

The latest assays come from seven holes totaling 4,245 metres. Drilling continues on the 41,100-metre program.

More information is available at www.MonetaPortupine.com.