Home > News > Moneta Continues to Expand...

Moneta Continues to Expand Gold Mineralization at Windjammer South, Tower Gold Project

Feb 10, 2022

Moneta Gold Inc. has announced the final assay results of eleven (11) previously announced and four (4) new drill holes, testing the resource expansion potential of the Windjammer South mineral resource, located within the Golden Highway area of the Tower Gold project. The drilling is part of the 2020/2021 72,500 metre ("m") program in 130 drill holes designed to test extensions of the current mineral resource estimate of 4.0 million ("M") ounces indicated gold and 4.4M ounces inferred gold on the Tower Gold project, located 100 kilometres east of Timmins. Additional holes and assays from other zones in this drill program remain pending.

Drilling successfully intersected wide zones of gold mineralization on the extensions of the Windjammer South gold deposit within and as extensions to the current economic open pit at Windjammer South. Drilling was testing an area over a strike length of 1,000 m and a width of 400 m. 

Highlights from the drill results include:

  • MWJ11-36x intersected 2.00 m @ 27.05 grams per tonne "g/t" gold "Au", including 1.00 m @ 53.90 g/t Au
  • MGH18-105x intersected 62.00 m @ 0.58 g/t Au, including 12.00 m @ 1.54 g/t Au, including 1.00 m @ 6.34 g/t Au
  • MGH21-240 intersected 53.70 m @ 0.52 g/t Au, including 8.00 m @ 1.46 g/t Au, including 2.00 m @ 2.86 g/t Au
  • MGH21-250 intersected 22.35 m @ 0.80 g/t Au, including 2.40 m @ 4.31 g/t Au, including 1.40 m @ 5.63 g/t Au 
  • MGH18-105x intersected 17.00 m @ 0.91 g/t Au, including 5.00 m @ 1.86 g/t Au, including 1.00 m @ 3.27 g/t Au
  • MGH21-236 intersected 4.50 m @ 3.01 g/t Au, including 0.65 m @ 18.80 g/t Au 
  • MGH18-105x intersected 26.00 m @ 0.48 g/t Au, including 1.15 m @ 1.89 g/t Au 

Gary O'Connor, Moneta's Chief Executive Officer, commented, "The latest drill results from Windjammer South have confirmed gold mineralization in large step outs to the current gold resource, both within the current Windjammer South economic open pit and as extensions to mineralization beyond the open pit. Importantly, these extensions have the potential to significantly improve the economics in areas within the current open pits outside of the current mineral resources. We look forward to releasing the remaining outstanding drill results when they become available and updating the mineral resource estimate for the Tower Gold project in the first half of 2022." 

The latest assay results from the Windjammer South resource expansion drill program include the final assay results from eleven (11) previously partially released drill holes, as well as full assay results from an additional four (4) new drill holes for 1,897.0 m, including one drill hole extension (MGH18-105x). The drill program was conducted to test a large area to the south of the Windjammer South deposits within and as extensions to the economic open pit in an area with little historical drilling. The Windjammer South open pit gold deposit currently hosts 1.10 Moz gold at a grade of 0.84 g/t gold in indicated resources and 1.03 Moz at a grade of 1.10 g/t gold in the inferred category at a cut-off grade of 0.30 g/t gold (see December 10, 2020 press release). Full assays from an additional 31 drill holes for 13,002 m from the drill program remain pending. 

Image removed.

Figure 1: Tower Gold Project: General Location Map

Tags: Northern Ontario / Exploration / Gold / All Articles