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Moneta drilling at Timmins-area property

Company aiming to expand resource, return higher grades

Moneta Porcupine Mines has started a winter drill program at its Golden Highway Project, located 110 kilometres east of Timmins.

Golden Highway consists of five properties – South West, Windjammer South, 55, Discovery, and Windjammer North – located along the Destor Porcupine Fault Zone.

An updated National Instrument 43-101 resource estimate for the project, filed in January, shows 383,400 ounces gold in the indicated category (2.6Mt @ 4.61g/t), and an additional 873,200 ounces in the inferred category (6.5Mt @ 4.21 g/t).

The company said its goals for the 10,000-metre drill program include expanding the current gold resources at South West; highlighting the resource potential at 55 and Windjammer South; and focusing on structures with potentially higher grades and wider widths.

“We were encouraged by the significant increase in grade and the overall size of the updated mineral resource estimate released in January 2019 for the Golden Highway Project,” Gary O’Connor, CEO and chief geologist, said in a Feb. 27 news release.

“The current drill program underway has been designed to expand the South West deposit and focus on grade and widths where we have identified several zones which remain open or were not included in the resource update due to a lack of drilling.

“The drill program is also planned to highlight the overall size potential at the 55 and Windjammer South deposits.” 

Moneta’s additional projects in the area include North Tisdale, Nighthawk Lake, Kayorum and Denton.