Moneta extends Westaway deposit with 21 metres of 2.66 g/t gold

Moneta Porcupine Mines (TSX: ME; OTC: MEAUF) has the results of six additional holes drilled to test the extension potential of the […]
The Tower gold project 100 km east of Timmins, Ont. Credit: Moneta Porcupine Mines.

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Moneta Porcupine Mines (TSX: ME; OTC: MEAUF) has the results of six additional holes drilled to test the extension potential of the Westaway underground deposit, located at the Golden Highway area of the Tower Gold project, 100 km east of Timmins, Ont.

Beyond the current resources, hole MGH21-208 in the western and depth extensions intersected significant mineralization:

  • 21 metres grading 2.66 g/t gold, including 4 metres at 5.19 g/t, including 1 metre at 9 g/t; and 7.4 metres at 2.93 g/t, including 1 metre at 10.5 g/t
  • 20 metres grading 1.4 g/t gold, including 2.7 metres 3.22 g/t gold; and 0.7 metre at 4.11 g/t; and
  • 25 metres grading 1.75 g/t gold, including 7.4 metres at 2.93 g/t gold, including 1 metre at 10.6 g/t gold; and 2 metres at 5.52 g/t, including 1 metre at 6.48 g/t.

Hole MGH21-190 in the western and depth extensions also had significant assays:

  • 5 metres grading 3.15 g/t gold, including 2 metres at 4.06 g/t;
  • 7.8 metres grading 2 g/t gold, including 4 metres at 3.3 g/t, including 1 metre at 7.58 g/t; and
  • 2.6 metres grading 3.6 g/t gold, including 0.8 metre at 8.78 g/t; and
  • 29.1 metres grading 1.47 g/t gold, including 0.9 metre at 4.29 g/t, 0.8 metre at 5.17 g/t; and 0.8 metre at 5.46 g/t.

Other holes lacked long intersections but had good gold grades, including 18.2 g/t over 1 metre from hole MGH21-188.

“The drill results have again confirmed significant gold mineralization in large step-outs to the south, to the west and at depth as we look to continue to expand the underground gold resource at Westaway,” said Moneta president and CEO Gary O’Connor. “Resource expansion drilling is ongoing on the South West, Windjammer South and 55 resource areas as well as the new Halfway discovery.”

The Westaway underground resource currently consists of 662,000 oz. of gold in 4.4 million inferred tonnes averaging 4.71 g/t gold.

Read the latest details exploration results at www.MonetaPorcupine.com.

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