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Moneta Porcupine Mines Inc.
Summary
| Project: | Golden Highway | |
|---|---|---|
| Deposit: | South West target | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-1-2018: Moneta Porcupine Mines Inc. announces an Exploration/Drilling Update report for its South West target deposit at the Golden Highway project. Drilling results incl. 4m @ 5.84g/t Au from 565.0m. TORONTO, Jan. 18, 2018 /CNW/ - Moneta Porcupine Min | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | TORONTO, Jan. 18, 2018 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta orthe "Company") is pleased to announcethat it hascompleted thefirst drill hole(MGH17-051) to test the newstructuralinterpretation ofthe South West target located within the Company's GoldenHighway Project located approximately 110kmeast ofTimmins, Ontario (Figure 1). "During 2017 the Company completed an extensivere-interpretation ofmineralization previously intersected at SouthWest. The programresulted in therecognition and modelling ofan array ofstacked en échelonNW trending, SW steeply dipping, quartz-carbonate-pyrite veins. Initial modelling has been completed on 6 ofthese veins. Thefirst holeto test this newinterpretation hasconfirmed theexistence, location and grades of the 6 interpreted veins with severaladditional veinsalso being intersected. Weareencouraged by theresultsand willcontinueto drilltest the potentialsizeand gold tenor ofthe SouthWest vein system"commented GaryO'Connor, Co-CEO &ChiefGeologist. The SouthWest drill programis part ofthe previously announced 2017 exploration drill programundertaken by the Company to test higher grade targets on the GoldenHighway Project which consisted of over 20,000mand 50 drill holes. Drill hole MGH17-051 was thefirst drill hole designed at SouthWest to drilltest the 6 newmodelled veinsas part ofan 8,500mprogramin 14 holes. Thesignificant results returned fromhole MGH17-051 areincluded inTable 1 and figures showing thelocation ofthe hole on cross section (Figure 2). Long sections foreach ofthe 6 veins with "grade-thickness"colourcontours generated fromover 60 historical drill holes with the pierce points of hole MGH17-051 areincluded (Figure 3, Figure 4 and Figure 5). Theencouraging results willresult in theexpansion ofthe drill program. Assays for other drill holesare pending and will bereleased as they becomeavailable. | |
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