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Home > News > Moneta hits widespread Gold...

Moneta hits widespread Gold Mineralization on Windjammer Deposit at Tower Gold

Oct 18, 2022


Moneta Gold Inc. has announced assay results from seventeen (17) drill holes from infill drilling on the Windjammer gold deposit at the Tower Gold project, located 100 kilometres ("km") east of Timmins, Ontario. The drilling was conducted as part of the current 70,000 metres ("m") infill and resource upgrade drill program on the recently announced mineral resource estimate of 4.5 million ("M") ounces ("oz") indicated gold ("Au") and 8.3 Moz inferred Au (see September 07, 2022 press release) at the Tower Gold project. 

Drilling Highlights:

  • MGH22-298 intersected 158.00 m @ 0.55 grams per tonne "g/t" Au, including 55.00 m @ 0.79 g/t Au, including 20.00 m @ 1.05 g/t Au, including 1.00 m @ 4.26 g/t Au, and 1.00 m @ 6.11 g/t Au
  • MGH22-323 intersected 125.80 m @ 0.50 g/t Au, including 7.00 m @ 0.87 g/t Au, including 12.50 m @ 1.83 g/t Au, including 1.00 m @ 5.69 g/t Au
  • MGH22-316 intersected 232.00 m @ 0.35 g/t Au, including 20.00 m @ 0.53 g/t Au, and 14.00 m @ 0.73 g/t Au, and 24.50 m @ 0.54, including 1.00 m @ 2.49 g/t Au
  • MGH22-307 intersected 285.50 m @ 0.34 g/t Au, including 29.00 m @ 0.53 g/t Au, including 1.00 m @ 4.28 g/t Au, and 13.00 m @ 0.62 g/t Au, including 2.00 m @ 1.86 g/t Au, and 12.00 m @ 0.84 g/t Au, including 5.10 m @ 1.22 g/t Au
  • MGH22-294 intersected 27.00 m @ 0.81 g/t Au, including 10.00 m @ 1.73 g/t Au, including 4.00 m @ 3.56 g/t Au, including 1.20 m @ 6.90 g/t Au
  • MGH21-273 intercepted 50.00 m @ 0.47 g/t Au, including 8.00 m @ 0.84 g/t Au, including 1.00 m @ 1.35 g/t Au
  • MGH22-317 intersected 161.00 m @ 0.39 g/t Au, including 18.00 m @ 1.53 g/t Au, including 6.60 m @ 2.39 g/t Au, including 1.60 m @ 4.21 g/t Au, and 1.00 m @ 6.91 g/t Au
  • MGH22-312 intersected 83.00 m @ 0.40 g/t Au, including 38.00 m @ 0.51 g/t Au, including 9.00 m @ 0.77 g/t Au, including 1.00 m @ 1.64 g/t Au 

Intercepts are calculated using a 0.20 g/t Au cut-off, a maximum of 5m internal dilution and no top cap applied. Drill intercepts are not true widths, are reported as drill widths, and are estimated to be 75% to 95% of true width.

Gary O'Connor, Moneta's President and Chief Executive Officer, commented, "These latest assay results from Windjammer infill drilling continue to confirm the continuity and extensions of the current mineral resource estimate, only just updated in September. These results support wide widths of gold mineralization within the open pit mineral resources and affirm extensions of mineralization outside the resource to the east and at depth. As we continue to advance and de-risk the Tower Gold project, we look forward to completing the resource infill and upgrade drill program in preparation of the planned Pre-Feasibility Study and releasing additional results from the drill program as they become available." 

The latest assay results are from seventeen (17) drill holes for 8,205.0 m of diamond drilling completed at Windjammer as part of an initial 70,000 m drill program planned as resource infill and upgrade drilling. Two (2) drill holes (MGH22-313A and MGH22-294A) did not reach targeted depth and were redrilled to completion as MGH22-313 and MGH22-294. Drilling is being conducted on 50 m centres as step-outs and infill of previous drill holes.

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Tags: Northern Ontario / Exploration / Gold / All Articles