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Moneta Porcupine Mines Inc.
Summary
| Project: | Golden Highway | |
|---|---|---|
| Deposit: | Golden Highway | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 3/6/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-3-2017: Moneta Porcupine Mines Inc. announces an Exploration/Drilling Update report for its Golden Highway deposit at the Golden Highway project. Drilling results incl. 28.26m @ 1.38g/t Au from 166.24m. Moneta Porcupine Mines Inc. (TSX:ME) ("Moneta") pr | |
| Resources: | (Resource): 31.1Mt @ 1.09g/t Au (Ind.) and 83.3Mt @ 1.20g/t Au (Inf.) at project | |
| CP/QP: | [Overall Report]: Rainer Skeries (Not stated) | |
| ABSTRACT: | Moneta Porcupine Mines Inc. (TSX:ME) ("Moneta") provided an update on its previously announced 40,000 metre drill program on its 100% owned Golden Highway Project, east of Timmins, Ontario. Ian C. Peres, President and CEO stated, "Our Golden Highway project captures 12kms of the Destor Porcupine Fault Zone Corridor, one of the most prolific Archean gold-bearing structures in the world. The recently drilled positive results extend known gold mineralization several kilometres along strike from the existing NI 43-101 resource and provide a solid foundation for follow-up. Drilling in 2017 will continue at full capacity to systematically test these and other exploration targets with significant gold potential." Considerable gold production from the Timmins Camp area has been from quartz vein systems associated with ultramafic and mafic volcanics both north and south of the Destor Porcupine Fault Zone, particularly when in proximity to porphyry intrusives. Prior drilling has confirmed similar settings across the Golden Highway project, several of which are to be systematically drill tested in 2017. This includes areas such as Destor West, LC Zone, North Central Pipestone, and Southwest Zone North. We have three drills contracted to end of 2017 after delays in the start of the program due to lack of drill availability in Q4 2016. A total of 15 drill holes have now been completed for a total of 8,008 metres within the Destor West and LC Zone target areas, including 2 holes lost in blocky ground. | |
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