Moneta Announces Drill Results at Golden Highway Project

- September 13th, 2018

Moneta Porcupine Mines Inc. announced the results from the last seven diamond drill holes completed on the South West deposit located within the Company’s Golden Highway project.

Moneta Porcupine Mines Inc. (TSX:ME, OTC:MPUCF, XETRA:MOP) announced the results from the last seven diamond drill holes completed on the South West deposit located within the Company’s Golden Highway project.

Highlights are as follows:

Drilling results at South West have continued to extend the strike and depth extent of the known vein structures and mineralized shoots.

Mineralized Shoots

  • SW-3d

Drill hole MGH18-098 intersected the SW-3d mineralized shoot assaying 25.00 metres  @ 2.48 grams per tonne gold  including 4.50 meters @ 5.00 grams per tonne gold, including 0.50 meters @ 15.35 grams per tonne gold.

  • SW-1

Drill hole MGH18-094 extended the depth extensions of mineralized shoot SW-1 by 100 meters assaying 7.00 meters @ 2.05 grams per tonne gold and 3.78 meters @ 2.42 grams per tonne gold

Vein Structures

  • Arbutus Vein

MGH18-098 intersected Arbutus vein extending the vein by 50 meters to the north assaying 8.30 meters @ 2.66 grams per tonne gold including 4.00 meters @ 4.07 grams per tonne gold. MGH18-097 returned 2.30 meters @ 3.68 grams per tonne gold from the Arbutus vein

Larch Vein

Drill hole MGH18-098 intersected and extended the Larch vein by ~50 meters to the north with 4.40 meters @ 2.59 grams per tonne gold including 1.78 meters @ 4.55 grams per tonne gold

Maple Vein

  •  Walnut Vein

Drill hole MGH18-095 extended the Maple Vein 50 meters to the north, assaying 1.30 meters @ 4.92 grams per tonne

MGH18-096 intersected the Walnut vein returning 0.96 meters @ 12.80 grams per tonne gold at a depth of 701.41 meters

The Yew vein structure was intersected in drill hole MGH18-098 assaying 7.00 meters @ 2.20 grams per tonne gold including 1.00 meters @ 8.32 grams per tonne gold

  • Yew Vein

Gary O’Connor, CEO & chief geologist, commented:

We are encouraged by the results of the latest drill holes from the 2017/2018 program at South West which have extended and confirmed the size and grade of gold mineralization. The latest results have continued to add to the known 17 vein structures and nine  mineralized stock work shoots and have located new mineralized veins. We plan to complete a small drill program on the four new shoots to provide sufficient data to model all of the structures in preparation for the forthcoming resource update.”

The latest assay results are from the final seven new drill holes and one drill hole extension totalling 5,409.60 meters of drilling at South West.  The drill program at South West forms part of the previously announced exploration drill program undertaken by the Company in late 2017 and early 2018 that was expanded to 39,300 meters in 66 drill holes. Assays for the remaining drill holes from the “55” area are pending and will be released as they become available.

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