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Moneta Porcupine Mines Inc.
Summary
| Project: | Golden Highway | |
|---|---|---|
| Deposit: | Golden Highway | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/29/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-11-2018: Moneta Porcupine Mines Inc. announces an Exploration/Drilling Update report for its Golden Highway deposit at the Golden Highway project. Old drillholes, new assay results incl. 3.85m @ 1.54g/t Au from 173.0m. TORONTO, Nov. 29, 2018 /CNW/ - Mo | |
| Resources: | (Resource): 31.1Mt @ 1.09g/t Au (Ind.) and 83.3Mt @ 1.20g/t Au (Inf.) at project | |
| CP/QP: | [Overall Report]: Gary O'Connor (Internal) | |
| ABSTRACT: | TORONTO, Nov. 29, 2018 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce that it has now completed the new geological interpretation model of high grade structures on the Golden Highway Project, expanding the number and size of mineralized structures identified. The new geological model will form the basis of the new updated resource estimate due to be completed in early 2019 on the Company's Golden Highway Project, located 110 km east of Timmins, Ontario (see Figure 1). Gary O'Connor, CEO & Chief Geologist commented, "The Moneta geological team has completed a thorough and detailed re-interpretation of the high-grade controlling structures on six (6) deposit areas within the Golden Highway Project. Detailed alteration and mineralization logging, as well as structural interpretation has confirmed the continuity of the structures which form the basis of the wireframes currently being used in the pending resource estimate update. A total of 58 mineralized structures have now been modelled, significantly expanding the scope of the resource which is due to be completed in early 2019. Interpretation has also identified additional mineralized zones on the project outside the current resource update highlighting additional exploration upside." The new resource estimate will be based on 1,108 holes for 352,055.50 m of drilling including 74 new drill holes for 42,880.50 m completed between September 2017 and August 2018. The updated resource will also include the results of 25 drill holes for 11,781.22m drilled in early 2017, 11 drill holes completed in 2016 for 6,052.0 m and 112 drill holes completed during 2013-2014 for 49,719.0 m not previously included in a resource. A total of 1,300 mineralized intercepts were identified, relogged and assayed if not historically sampled, with structures confirmed and used in the development of the new resource model. On average each sediment hosted mineralized structure has been defined by over 59 drill intercepts | |
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