Gold

Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) ("Moneta") is pleased to announce partial assay results confirming the new gold discovery at the Halfway zone from sixteen (16) drill holes, located within the Golden Highway area of the Tower Gold project. The drilling is part of the 20202021 72,500 metre ("m") program in 130 drill holes designed to test extensions of the current mineral resource estimate of 4.0 million ("M") ounces indicated gold and 4.4M ounces inferred gold (see February 24, 2021 press release) on the Tower Gold project, located 100 kilometres ("km") east of Timmins, Ontario. Additional holes and assays from this drill program remain pending.

Drilling successfully intersected gold mineralization over a strike length of 700 m and a width of 300 m to the east of the Windjammer South open pit gold resource within the Halfway area. Today's results confirm significant extensions of gold mineralization to the current gold resource at Windjammer South.

Highlights from the drilling include:

  • MGH21-230 intersected 50.10 m @ 0.72 grams per tonne "g/t" gold "Au", including 0.30 m @ 20.30 g/t Au, and 5.50 m @ 3.36 g/t Au, including 0.80 m @ 16.10 g/t Au
  • MGH21-220 intersected 24.00 m @ 1.36 g/t Au, including 1.50 m @ 17.60 g/t Au
  • MGH21-220 intersected 70.26 m @ 0.64 g/t Au, including 25.50 m @ 0.96 g/t Au, including 3.00 m @ 4.28 g/t Au
  • MGH21-226 intersected 11.00 m @ 1.26 g/t Au, including 2.00 m @ 5.52 g/t Au, including 1.00 m @ 6.68 g/t Au
  • MGH21-218 intersected 15.00 m @ 0.62 g/t Au, including 1.00 m @ 7.13 g/t Au
  • MGH21-219 intersected 26.60 m @ 0.54 g/t Au, including 3.00 m @ 2.81 g/t Au, including 1.00 m @ 5.03 g/t Au
  • MGH21-253 intersected 39.50 m @ 0.40 g/t Au, including 17.00 m @ 0.73 g/t Au, including 2.00 m @ 3.99 and 1.00 m @ 4.73 g/t Au

Gary O'Connor, Moneta's Chief Executive Officer, commented, "The latest drill results from our 2021/2022 program testing the new Halfway gold discovery have confirmed the potential to expand the open pit resources in an area not previously drill tested and beyond the current gold resources. The Halfway exploration drilling program was testing for gold mineralization over a large area located east of the current economic open pit at Windjammer South. Drilling has also targeted the South West extensions in the Gap area, the Windjammer area north of the BIF, the 55 mineral resource areas, the Windjammer South resource extensions, extensions to the new Westaway underground deposit, the Garrcon underground potential and Garrcon open pit extensions in the Garrison area. We look forward to releasing these drill results when they become available and updating the mineral resource estimate for the Tower Gold project in the first half of 2022."

The latest assay results from the Halfway zone resource expansion drill program include assay results from sixteen (16) new drill holes, for a total of 8,320.0 m. Additional results from these holes are still pending. The drill program was conducted to test a large area to the east of the Windjammer South economic open pit in an area with little historical drilling. The Windjammer South open pit gold deposit currently hosts 1.10 Moz gold at a grade of 0.84 g/t gold in indicated resources and 1.03 Moz at a grade of 1.10 g/t gold in the inferred category at a cut-off grade of 0.30 g/t gold (see December 10, 2020 press release). Full assays from an additional 50 drill holes for 22,889 m from the drill program remain pending.

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Figure 1: Tower Gold Project: General Location Map

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4852/109794_51ed387a34b3aaf2_002full.jpg

To view the complete table of drill results please click below:

https://www.monetagold.com/files/doc_downloads/2022/01/Halfway-Drill-results.xlsx

Table 1: Selected Significant Drill Results

HoleFrom ToLengthAuGram metres
(#)(m)(m)(m)(g/t)(gxm)
MGH21-215218.45222.403.951.867.35
includes220.95222.401.453.735.41
MGH21-21683.70104.0020.300.418.32
includes93.00104.0011.000.545.94
includes100.00101.001.001.951.95
MGH21-216276.00297.3521.350.408.54
MGH21-218416.00430.0014.000.537.42
includes425.00430.005.001.185.90
includes425.00426.001.002.082.08
MGH21-218445.00460.0015.000.629.30
includes452.00453.001.007.137.13
MGH21-218547.50565.5018.000.437.74
includes547.50549.001.502.343.51
MGH21-219246.00250.004.001.074.28
includes246.00247.001.001.761.76
MGH21-219300.50327.1026.600.5414.36
includes318.00321.003.002.818.43
includes320.00321.001.005.035.03
MGH21-219433.00458.0025.000.358.75
MGH21-22067.74138.0070.260.6444.97
includes72.0097.5025.500.9624.48
includes72.0075.003.004.2812.84
includes72.0073.501.505.197.79
MGH21-220147.00171.0024.001.3632.64
includes157.50159.001.5017.6026.40
MGH21-220375.00401.0026.000.4812.48
includes385.50387.001.501.452.18
MGH21-221259.00272.0013.000.425.46
includes263.80269.005.200.774.00
includes263.80265.001.201.481.78
MGH21-223449.00457.008.000.614.88
MGH21-225172.00193.1021.100.5812.24
includes192.00193.101.104.124.53
MGH21-225373.00384.3011.300.647.23
including380.00381.001.003.163.16
MGH21-226165.78176.7811.001.2613.86
includes172.78174.782.005.5211.04
includes172.78173.781.006.686.68
MGH21-226309.83327.1017.270.396.74
includes325.10326.101.002.282.28
MGH21-216432.00437.005.001.316.55
includes434.00437.003.002.046.12
MGH21-23066.60116.7050.100.7236.07
includes82.2082.500.3020.306.09
and 103.00108.505.503.3618.48
includes103.00104.501.509.5614.34
includes103.70104.500.8016.1012.88
MGH21-230123.00128.505.501.166.38
includes123.00124.001.004.314.31
MGH21-253364.50404.0039.500.4015.80
includes375.00392.0017.000.7312.41
includes382.00384.002.003.997.98
includes469.00470.001.004.734.73

 

Intercepts are calculated using a 0.20 g/t Au cut-off, a maximum of 3m internal dilution and no top cap applied. Drill intercepts are not true widths, are reported as drill widths, and are estimated to be 80% to 95% of true width.

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Figure 2: Halfway Exploration Drill Program: Drill Hole Location Map

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Discussion of Drill Results
Drilling was targeting Timiskaming age clastic sediment hosted gold mineralized stacked quartz veins east of Windjammer South in the new Halfway discovery area located south of the regional Banded Iron Formation "A" ("BIF A") unit. The drilling was testing a large area outside of the Windjammer South economic open pit in areas not previously drill tested. The Windjammer South area occurs as the largest open pit gold resource within the Golden Highway portion of the Tower Gold project. Previous results from the first drill holes from the Halfway area were released in the February 02, 2021 press release ME PR-03/2021 (see February 02, 2021 press release) and returned the following significant results (see table 2; Previously Released Select Significant Drill Results: Halfway Exploration Drilling);

  • Intersected 9.00 m @ 3.15 g/t Au, including 1.00 m @ 16.10 g/t Au and 1.00 m @ 10.90 g/t Au in drill hole MGH20-159
  • Intersected 80.00 m @ 0.88 g/t Au including 7.20 m @ 2.48 g/t Au, including 0.50 m @ 10.70 g/t Au, and 2.10 m @ 5.60 g/t Au including 1.15 m @ 7.24 g/t Au in drill hole MGH20-159
  • Intersected 83.00 m @ 0.28 g/t Au including 1.50 m @ 2.20 g/t Au in hole MGH20-158
  • Intersected 53.50 m @ 0.30 g/t Au including 1.00 m @ 2.43 g/t Au and 0.70 m @ 3.26 g/t Au in hole MGH20-159

Drill results from the current program at Halfway confirmed the occurrence of shallow west dipping stacked quartz veins sets and associated ankerite-albite-sericite-pyrite alteration haloes in large step-outs beyond the current gold resource. The latest assay results confirmed gold mineralization over an area 700 m long, 300 m wide, and down to depths of over 500 m. Additional results from the Halfway resource definition drilling program are pending.

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Figure 3: Halfway Exploration Drilling- Cross Section

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Table 2: Previously Released Select Significant Drill Results: Halfway Exploration Drilling

HoleFrom ToLengthAuGram metres
(#)(m)(m)(m)(g/t)(gxm)
MGH20-158218.00234.0016.000.416.56
includes218.00220.502.501.353.38
MGH20-158246.00267.0021.000.306.30
includes261.00262.001.001.421.42
MGH20-158327.00410.0083.000.2823.24
includes351.00352.501.502.203.30
MGH20-15974.50128.0053.500.3016.05
includes98.0099.001.002.432.43
and114.50118.003.500.963.36
includes117.30118.000.703.262.28
MGH20-159242.00252.0010.000.414.10
MGH20-159274.00283.009.003.1528.35
includes275.00276.001.0016.1016.10
and279.00280.001.0010.9010.90
MGH20-159289.00369.0080.000.8870.40
includes331.00338.207.202.4817.86
includes331.00331.500.5010.705.35
and336.10338.202.105.6011.76
includes337.05338.201.157.248.33
MGH21-161211.00230.8519.850.377.34
includes219.00221.002.001.382.76
MGH21-161459.00471.0012.000.566.72
includes464.00468.004.001.034.12

 

Intercepts are calculated using a 0.20 g/t Au cut-off, a maximum of 3m internal dilution and no top cap applied. Drill intercepts are not true widths, are reported as drill widths, and are estimated to be 80% to 95% of true width.

Table 3: New Drill Hole Details; Halfway

HoleEastingNorthingElevationAzimuthInclinationDepth
(#)(mE)(mN)(masl)(°)(°)(m)
MGH21-215572894537066435875-55260.0
MGH21-216572783537061635875-55549.0
MGH21-217573016537069435480-55216.0
MGH21-218572806537053836665-50690.0
MGH21-219572913537058136866-50597.0
MGH21-220572481537050435471-60435.0
MGH21-221572536537040735865-65453.0
MGH21-223572912537048237165-55504.0
MGH21-225571669536985133350-60705.0
MGH21-226573114537056334565-55711.0
MGH21-230572395537036234070-56590.0
MGH21-231572971537039837465-55609.0
MGH21-245572816537044035765-55501.0
MGH21-246572718537039634765-55501.0
MGH21-253572997537051737365-55522.0
MGH21-260572675537027036865-55477.0

 

Assay results for the reported holes are not complete. Additional assay results from drill holes will be released upon receipt. All intercepts are reported as drill widths and not true widths.

QA/QC Procedures
Drill core is oriented and cut with half sent to AGAT Laboratories Inc. (AGAT) for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). AGAT is an ISO 17025 accredited laboratory. A 50 g charge is Fire Assayed and analyzed using an AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. Moneta inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates, as well as completing routine third-party check assays at Activation Laboratories Ltd. Randall Salo, P.Geo. is a qualified person under NI 43-101 and has reviewed and approved the technical contents of this press release.

About Moneta
Moneta is a Canadian based gold exploration company focussed on advancing its 100% wholly owned Tower Gold project, which currently hosts a gold mineral resource estimate of 4.0M ounces indicated and 4.4M ounces inferred. The Company's 2020/2021 drill program was designed to test extensions of mineralization and expand the current mineral resource. An updated mineral resource estimate and Preliminary Economic Assessment study encompassing the entire Tower Gold Project will be announced in the first half of 2022. Moneta is committed to creating shareholder value through the strategic allocation of capital and a focus on the current resource expansion drilling program, while conducting all business activities in an environmentally and socially responsible manner.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, CEO
416-357-3319

Linda Armstrong, Investor Relations
647-456-9223

The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetagold.com or email us at info@monetagold.com.

This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof;further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation's business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. and the ability of the Company to finance and carry out its anticipated goals and objectives.

Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.

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ME:CA
Moneta Announces Voting Results from Annual General & Special Meeting of Shareholders

Moneta Announces Voting Results from Annual General & Special Meeting of Shareholders

Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) ("Moneta" or the "Corporation") announced the approval of each of the matters set out in the Corporation's Management Information Circular ("Circular") dated April 15, 2022 at the 2022 Annual General and Special Meeting of Shareholders held via webcast on June 2nd, 2022.

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Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) ("Moneta" or the "Company") is pleased to provide an updated mineral resource estimate ("MRE") for its 100% owned Tower Gold project ("Project"), located 100 kilometres ("km") east of Timmins, Ontario. The consolidated mineral resource now totals 4.27 million ("M") ounces ("oz") indicated gold ("Au") and 7.50 Moz inferred gold, positioning Tower Gold as one of the advanced exploration projects in Canada. The MRE will form the basis of an updated preliminary economic assessment ("PEA") scheduled for completion later this quarter.

Highlights of the Updated Tower Gold Mineral Resource Estimate:

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Former Prime Minister of Canada, Stephen Harper and Former President of Mexico, Felipe Calderon are two of the marquee speakers at the 2022 Resource Investment Conference. The Vancouver Resource Investment Conference (VRIC) will host over 100 international keynote speakers covering the hottest topics in finance, economics and geopolitics on May 17th and 18th, 2022.

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Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) ("Moneta") is pleased to announce the assay results from ten (10) drill holes at Garrcon, from the Garrison area of the Tower Gold project, located 100 kilometres ("km") east of Timmins, Ontario. The drilling was part of the 20202021 72,500 metre ("m") program in 130 drill holes designed to test extensions of the current mineral resource estimate of 4.0 million ("M") ounces indicated gold and 4.4M ounces inferred gold (see February 24, 2021 press release) on the Tower Gold project. These results represent the final assays from this drill program.

Today's results, testing both the open pit and underground resource expansion potential at Garrcon, have confirmed significant gold mineralization over a strike length of 750 m and width of 500 m in step-out drilling beyond the current resource and within an area with significant historical gold mineralization not currently in any resource category.

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Moneta Expands Gold Mineralization at 55 Zone, Tower Gold Project

Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) ("Moneta") is pleased to announce the final assay results from ten (10) drill holes at the 55 Zone, from the Golden Highway area of the Tower Gold project, located 100 kilometres ("km") east of Timmins, Ontario. The drilling was part of the 20202021 72,500 metre ("m") program in 130 drill holes designed to test extensions of the current mineral resource estimate of 4.0 million ("M") ounces indicated gold and 4.4M ounces inferred gold (see February 24, 2021 press release) on the Tower Gold project. Additional holes and assays from this drill program remain pending from the Garrcon deposit area.

This drilling successfully intersected gold mineralization as extensions to the current 55 Zone mineral resource estimate within and as extensions to the economic open pit, over a strike length of 800 m and a width of 250 m.

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2022 Second Quarter Highlights
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  • Total consolidated cash operating costs (see "Non-IFRS Measures") (including estimated attributable results for Calibre) of $781 per ounce produced and consolidated cash operating costs from the Company's three operating mines of $766 per ounce produced, both 2% below budget
  • Total consolidated all-in sustaining costs ("AISC") (see "Non-IFRS Measures") (including estimated attributable results for Calibre) of $1,111 per ounce sold and consolidated AISC from the Company's three operating mines of $1,109 per ounce sold, both well below budget by 7%
  • Net income attributable to the shareholders of the Company of $38 million ( $0.04 per share); adjusted net income (see "Non-IFRS Measures") attributable to the shareholders of the Company of $45 million ( $0.04 per share)
  • On July 3, 2022 , the Economic Community of West African States ("ECOWAS") removed the economic, financial and diplomatic sanctions imposed on Mali earlier in 2022 following the interim Malian Government's announcement of a two-year transition to presidential elections and the promulgation of a new electoral law. As a result, Mali's borders with its neighbours are now open to normal commercial traffic and ordinary supply routes are once again available
  • The Company remains in a strong net positive cash position and paid a second quarter dividend of $0.04 per common share (annualized rate of $0.16 per common share), representing one of the highest dividend yields in the gold sector
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  • Consolidated gold revenue of $748 million on sales of 400,400 ounces at an average realized gold price of $1,867 per ounce
  • Total consolidated cash operating costs (including estimated attributable results for Calibre) of $742 per ounce produced, well below budget by 7%, and consolidated cash operating costs from the Company's three operating mines of $722 per ounce produced, well below budget by 8%
  • Total consolidated AISC (including estimated attributable results for Calibre) of $1,074 per ounce sold, significantly below budget by 15%, and consolidated AISC from the Company's three operating mines of $1,069 per ounce sold, significantly below budget by 16%
  • Net income attributable to the shareholders of the Company of $119 million ( $0.11 per share); adjusted net income attributable to the shareholders of the Company of $110 million ( $0.10 per share)
  • For full-year 2022, B2Gold remains well positioned for continued strong operational and financial performance and remains on track to achieve its total consolidated gold production guidance of between 990,000 - 1,050,000 ounces (including 40,000 - 50,000 attributable ounces projected from Calibre). Overall and after factoring in the positive operating results in the first half of 2022, the Company's total consolidated costs guidance ranges for full-year 2022 remain unchanged with total consolidated cash operating costs forecast to be at the upper end of the Company's guidance range of between $620 and $660 per ounce and total consolidated AISC forecast to be within the Company's guidance range of between $1,010 and $1,050 per ounce
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"Newmont continues to leverage our deep bench of experienced leaders with the appointment of Mia Gous and Alex Bates to these critical roles. Their individual strengths, including extensive operational and management expertise, will be tremendous assets to Newmont as we continue to lead the gold industry through our world-class portfolio of assets and project pipeline," said Newmont President and CEO Tom Palmer. "Equally important, they will both be key leaders as we strengthen our commitment to create an environment where everyone is welcomed, feels safe and can contribute and develop to their full potential."

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