Moneta Extends Gold Mineralization at the South West & Windjammer South Deposits at Golden Highway

Moneta Porcupine Mines Inc. has announced results from four (4) 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 kilometres east of Timmins. 

Highlights:

Drilling has intersected significant gold mineralization in an area, covering 700 metres ('m") strike length and 200 m width, not currently included in any NI 43-101 resource estimate:

• MGH21-174, located outside the current Windjammer open pit and 150 m south of the current South West resource: 
  • Intersected 32.00 m @ 1.63 grams per tonne "g/t" gold "Au" including 6.35 m @ 3.21 g/t Au including 1.00 m @ 7.62 g/t Au, plus 6.60 m @ 2.91 g/t Au including 0.85 m @ 8.05 g/t Au
  • Intersected 7.60 m @ 2.04 g/t Au, including 1.65 m @ 6.36 g/t Au, including 0.95 m @ 8.59 g/t Au 
  • Intersected 12.00 m @ 1.57 g/t Au, including 1.05 m @ 5.82 g/t Au
• MGH21-175, located outside the current Windjammer open pit and 150 m south of the current South West resource:
  • Intersected 9.10 m @ 2.02 g/t Au, including 0.70 m @ 9.24 g/t Au
  • Intersected 19.70 m @ 0.94 g/t Au, including 0.60 m @ 8.43 g/t Au
• MGH20-168, located outside the current Windjammer open pit and 200 m east of the current South West resource:
  • Intersected 4.00 m @ 3.54 g/t Au, including 1.00m @ 8.54 g/t Au

"We are pleased to have intersected significant new gold mineralization outside of our current gold resources with our latest drilling," commented CEO, Gary O'Connor. "The drilling has intersected gold mineralization within the Gap area, located between the current South West underground deposit and Windjammer South open pit deposit. Significant gold mineralization has been intersected up to 150 m south of and over a strike length of 700 m 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 "Moz" gold indicated resources and 1.05 Moz gold inferred resources at a 0.3 g/t Au cut-off and the current underground resource at South West currently contains 0.59 Moz gold indicated and 1.24 Moz gold inferred resources at a 2.6 g/t cut-off within a total project gold resource endowment of 4.00 Moz gold indicated and 4.40 Moz gold inferred." 

The latest assay results are from four (4) drill holes for a total of 2,872.0 m of drilling, completed as part of the current 70,000 m 2020/2021 winter drill program. The four reported holes were targeting the Gap zone which occurs between the current Windjammer South and South West resources in an area which has no currently defined gold resources. Drilling was focussed on extending the South West mineralization to the south, where it remains open, and connect the Windjammer South and South West resources. Windjammer South currently hosts an indicated resource of 40.59 Mt @ 0.84 g/t Au in the indicated category for 1.10 Moz contained gold and 29.10 Mt @ 1.12 g/t Au in the inferred category for 1.05 Moz contained gold. South West currently hosts an indicated resource of 4.53 Mt @ 4.07 g/t Au for 0.59 Moz contained gold and 9.61 Mt @ 4.01 g/t Au for 1.24 Moz contained gold in the inferred category. The open pit resource estimate at Westaway was estimated at a 0.30 g/t Au cut-off and the underground resource estimate at South West at a 2.60 g/t Au cut-off. The resource expansion drill program is continuing and further results are pending. 

 

Tags: Northern Ontario / Exploration / Gold / All Articles