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Home > News > Moneta continues to...

Moneta continues to Intersect gold on extensions of Westaway Deposit

Aug 23, 2021


"We are pleased to continue to intersect significant gold mineralization from our resource expansion drilling at the new Westaway underground deposit," said Gary O'Connor, CEO. 

Moneta Porcupine Mines Inc.  announcde new partial results from six (6) additional drill holes and initial results from fourteen (14) previously released holes drilled to test the resource extension potential of the Westaway underground gold resources within the Golden Highway area of the Tower Gold project. The drill holes were drilled as part of the expanded 2020/2021 drill program on the Tower Gold project located 100 kms east of Timmins. 

Highlights:

Drilling has continued to intersect significant gold mineralization in step out drill holes at Westaway beyond the current resource estimate:

  • MGH21-208, located to test the western and depth extensions of the resource:
    • Intersected 21.00 metres "m" @ 2.66 grams per tonne "g/t" gold "Au" including 4.00 m @ 5.19 g/t Au, including 1.00 m @ 9.00 g/t Au, and 5.50 m @ 5.43 g/t Au including 1.00 m @ 10.70 g/t Au
    • Intersected 20.00 m @ 1.40 g/t Au including 2.70 m @ 3.22 g/t Au, and 0.70 m @ 4.11 g/t Au 
    • Intersected 25.00 m @ 1.75 g/t Au, including 7.40 m @ 2.93 g/t Au, including 1.00 m @ 10.60 g/t Au, and 2.00 m @ 5.52 g/t Au including 1.00 m @ 6.48 g/t Au 
  • MGH21-188, located within the West Block area extended gold mineralization to the south and to depth:
    • Intersected 4.00 m @ 6.37 g/t Au, including 1.00 m @ 18.20 g/t Au
    • Intersected 2.45 m @ 2.36 g/t Au, including 0.35 m @ 11.20 g/t Au
  • MGH21-190, located on the western and depth extensions of the Westaway resource:
    • Intersected 5.00 m @ 3.15 g/t Au, including 2.00 m @ 4.06 g/t Au
    • Intersected 7.75 m @ 2.00 g/t Au including 4.00 m @ 3.30 g/t Au, including 1.00 m @ 7.58 g/t Au
    • Intersected 2.60 m @ 3.60 g/t Au including 0.75 m @ 8.78 g/t Au
    • Intersected 29.10 m @ 1.47 g/t Au including 0.85 m @ 4.29 g/t Au, 0.80 m @ 5.17 g/t Au and 0.80 m @ 5.46 g/t Au
  • MGH21-198, located south of the gabbro and BIF C units: 
    • Intersected 4.25 m @ 2.20 g/t Au including 1.15 m @ 5.08 including 0.50 m @ 10.50 g/t Au
    • Intersected 1.20 m @ 4.50 g/t Au including 0.60 m @ 8.55 g/t Au
  • MGH21-199, located south of the gabbro and BIF C units:
    • Intersected 2.70 m @ 2.07 g/t Au including 0.70 m @ 7.27 g/t Au

"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. Additional holes and additional assays from the reported holes are still pending from the current drill program. Resource expansion drilling is ongoing on the South West, Windjammer South and 55 resource areas as well as the new Halfway discovery. Upon completion of the current resource expansion drill program on the Golden Highway property, the drill rigs will move to test for new resources on the Garrison property. The Westaway underground resource currently consists of 662,000 ounces gold inferred resources at a 3.00 g/t Au cut-off within a total Tower Gold project resource of 4.00 Moz gold indicated and 4.40 Moz gold inferred." 

The latest assay results are from initial partial results from six (6) new drill holes for a total of 3,456.00 m and additional new results from fourteen (14) previously partially announced drill holes for a total of 9,518.0 m of drilling (press release ME-PR 12-2012 dated July 15, 2021: Moneta continues to extent gold mineralization on the Westaway Deposit with up to 8.00 m @ 5.34 g/t Au and 19.30 m @ 3.94 g/t Au), completed as part of the current 70,000 m 2020/2021 drill program. The reported holes were targeting the extensions of the new Westaway underground resource to the south, west and at depth. Additional assays for the nineteen holes and results from additional drilling, notably to the west and at depth, are still pending. The current drilling was mostly focussed on testing clastic Timiskaming age sediment host rocks to the immediate south of the regional banded iron formation ("BIF") C unit and the gabbro intrusion, in a new geological setting on the Tower Gold project.



Tags: Northern Ontario / Exploration / Gold / All Articles