Moneta drills 32 metres of 1.63 g/t gold at Golden Highway, Ontario

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Moneta Porcupine Mines Inc. [ME-TSX; MPUCF-OTC; MOP-FSE] reported results from four holes drilled to test the Gap Zone between the current NI 43-101 South West underground and Windjammer South open-pit deposits. The drill holes were drilled as part of the expanded 2020/2021 winter drill program on the Golden Highway Project, 100 km east of Timmins, Ontario.

Drilling intersected significant gold mineralization in an area, covering 700 metres in strike length and 200 metres in width, not currently included in any NI 43-101 resource estimate. MGH21-174, located outside the current Windjammer open pit and 150 metres south of the current South West resource intersected 32.00 metres at 1.63 g/t gold, including 6.35 metres at 3.21 g/t gold, including 1.00 metre at 7.62 g/t gold, plus 6.60 metres at 2.91 g/t gold, including 0.85 metres at 8.05 g/t gold. The hole also intersected 7.60 metres at 2.04 g/t gold, including 1.65 metres at 6.36 g/t gold, including 0.95 metres at 8.59 g/t gold as well as intersecting 12.00 metres at 1.57 g/t gold, including 1.05 metres at 5.82 g/t gold.

MGH21-175, located outside the current Windjammer open pit and 150 m south of the current South West resource, intersected 9.10 metres at 2.02 g/t gold, including 0.70 metres at 9.24 g/t gold as well as intersecting 19.70 metres at 0.94 g/t gold, including 0.60 metres at 8.43 g/t gold.

MGH20-168, located outside the current Windjammer open pit and 200 m east of the current South West resource, intersected 4.00 metres at 3.54 g/t gold, including 1.00 metre at 8.54 g/t gold.

“We are pleased to have intersected significant new gold mineralization outside of our current gold resources with our latest drilling,” said CEO Gary O’Connor. “Drilling has intersected gold mineralization within the Gap area between the current South West underground deposit and Windjammer South open-pit deposit. Significant gold mineralization has been intersected up to 150 metres south of and over a strike length of 700 metres between the South West and Windjammer South resources. The drill results highlight the opportunity to significantly expand the open-pit and underground gold resources at Windjammer South and South West, respectively. The Windjammer South open-pit resource currently contains 1.10 million ounces gold indicated resources and 1.05 million oz gold inferred resources at a 0.3 g/t gold cut-off, and the current underground resource at South West currently contains 590,000 oz gold indicated and 1.24 million oz gold inferred resources at a 2.6 g/t cut-off within a total project gold resource endowment of 4.00 million oz gold indicated and 4.40 million oz gold inferred.”


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