ONTARIO – Moneta Porcupine Mines of Timmins, ON, has filed an updated resource estimate and preliminary economic assessment for its Golden Highway gold project east of Timmins. The property is estimated to contain 4.3 million oz of gold in the indicated category and 3.2 million oz in the inferred category.
Using a cut-off of 0.37 g/t Au in the area of a potential open pit, the company says there are 30.0 million indicated tonnes at 1.01 g/t and 71.6 million inferred tonnes at 0.86 g/t. Resources that would be mined from underground using a 2.00 g/t cut-off are estimated at 1.1 million indicated tonnes grading 3.29 g/t and 11.7 million inferred tonnes grading 3.28 g/t.
Readers wishing to peruse the entire updated mineral resource estimate and preliminary economic assessment of the Golden Highway project may do so at SEDAR.com. Or visit MonetaPorcupine.com for a summary.