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Moneta Porcupine Mines Inc.
Summary
| Project: | Golden Highway | |
|---|---|---|
| Deposit: | Golden Highway | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 12/5/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-12-2018: Moneta Porcupine Mines Inc. announces an Exploration/Drilling Update report for its Golden Highway deposit at the Golden Highway project. Drilling results incl. 6.30m @ 5.80g/t Au from 146.70m. TORONTO, Dec. 5, 2018 /CNW/ - Moneta Porcupine Min | |
| 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, Dec. 5, 2018 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce that it has identified multiple new high grade zones of gold mineralization on the Golden Highway Project, located 110 km east of Timmins, Ontario (see Figure 1). The new targets were identified during the 2018 geological reinterpretation and modelling of high-grade structures. The new zones occur outside the area of historical resources and the pending NI 43-101 resource estimate update due to be completed in early 2019. Gary O'Connor, CEO & Chief Geologist commented, "The new geological modeling and interpretation methodology has now been applied to five (5) new zones outside of the pending NI 43- 101 resource estimate footprint. The new zones cover an eight (8) km strike length and have the same style of mineralization as seen in the gold zones to be included in the pending resource update. Re-logging and re-interpretation of the geological model at Golden Highway has focused on high grade gold mineralized structures located along a regional 12 km long Banded Iron Formation. These new zones will form part of a larger program to test drill targets expected to be identified in the pending resource estimate due in the New Year." New Mineralized Targets: The new Halfway, Windjammer South Deeps, Westaway, Dyment 3 and Western Zone targets are all located along over eight (8) kms of strike length on the southern margins of a 12 km long BIF unit hosted within clastic sediments of Timiskaming age. Mineralization and all targets occur as NW-SE trending steeply west dipping stockwork veining and associated vein structures located along or near the BIF contact. Historical drilling of targets has been limited, however the style and nature of mineralization is like the BIF related deposits currently the subject of a resource estimate update on the Golden Highway Project due to be completed in early 2019. The mineralized veins and stockwork veining within the new structures occur as quartz-pyrite veins within ankerite-sericite-silicapyrite (+ albite) alteration halos. | |
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