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Moneta Porcupine Mines Inc.
Summary
| Project: | Golden Highway | |
|---|---|---|
| Deposit: | South West | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/24/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-5-2018: Moneta Porcupine Mines Inc. announces an Exploration/Drilling Update report for its South West deposit at the Golden Highway project. Drilling results incl. 15.05m @ 1.67g/t Au from 239.95m. TORONTO, May 24, 2018 /CNW/ - Moneta Porcupine Mines | |
| 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, May 24, 2018 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") 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, Ontario, see Figure 1). Highlights: Step-out drilling at South West has continued to extend the strike and depth extent of the vein structures, and two of the mineralized shoots, SW-1 and SW-2. One new vein, Redwood has been confirmed increasing the total number of veins to sixteen plus three new shoots modelled confirming a total of eight. Gary O'Connor, CEO & Chief Geologist commented, "We are very pleased as we continue to expand the footprint of gold mineralization intersecting new veins and confirming three new shoots in the South West area. Step-out drilling continued to extend the strike of the veins to the south and has extended the veins to depth. New drilling and interpretation has connected the central and eastern Banded Iron Formation units opening a large new area for potential mineralization. We continue to be very encouraged by the new results and have expanded the drill program at South West to continue to test the gold system, increase the number of veins and shoots, and confirm the higher grade mineralization." The latest assay results are from seven drill holes totalling 4,245.0 m of drilling at South West testing higher grade structural targets. The ongoing drill program at South West follows up on the previously announced exploration drill program undertaken by the Company in late 2017 on the Golden Highway Project and has been expanded to 41,100 m in 70 drill holes. Assays for additional drill holes are pending and will be released as they become available. | |
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