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Moneta extends mineralization at Westaway with new drill results

Jul 16, 2021

“We are excited to continue to intersect significant gold mineralization from drill holes in our resource expansion drilling at the new Westaway deposit.”, said CEO, Gary O’Connor. “The drilling has intersected gold mineralization in large step-outs to the south and west as well as at depth as we look to expand the current underground gold resources at Westaway. Additional holes and assays are still pending from the current drill program which has been testing the resource expansion potential at Westway. Resource expansion drilling is also ongoing on the South West, Windjammer South and 55 resource areas as well as the new Halfway target. 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 drill holes were drilled as part of the expanded 2020/2021 winter drill program on the Tower Gold Project located 100 km east of Timmins.

Drilling has intersected significant gold mineralization in resource step out drill holes at Westaway extending gold mineralization beyond the current resource estimate:

  • MGH21-197, located within the West Block area extended gold mineralization to the south and at depth:

    o Intersected8.00metres“m”@5.34gramspertonne“g/t”gold“Au”including4.00m @ 10.01 g/t Au, including 2.00 m @ 15.25 g/t Au, including 1.00 m @ 17.60 g/t Au

  • MGH21-196, located within the West Block area extended gold mineralization to the south and to depth:

o Intersected19.30m@3.94g/tAu,including4.50m@8.09g/tAu,including1.70m@ 16.82 g/t Au, including 0.70 m @ 20.00 g/t Au

o Intersected3.45m@6.86g/tAu

  • MGH21-190, located on the western and depth extensions of the Westaway resource:

    o Intersected7.10m@2.98g/tAu,including4.90m@4.06g/tAu,including0.54m@ 7.64 g/t Au

  • MGH21-186, located 300 m south of the current resources in the South Basin area: o Intersected7.00m@2.13g/tAuincluding1.00m@5.39g/tAu
    o Intersected4.00m@3.32g/tAuincluding1.00m@8.95g/tAu
    o Intersected5.00m@4.78g/tAuincluding1.00m@8.36g/tAu


Tags: Northern Ontario / Exploration / Gold / All Articles