Precious Metals

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.

Highlights from the drilling include:

  • MGA21-005 intersected 67.00 m @ 3.05 grams per tonne "g/t" gold "Au", including 38.50 m @ 4.85 g/t Au, including 23.00 m @ 7.50 g/t Au, including 8.75 m @ 15.85 g/t Au, including 1.00 m @ 114.00 g/t Au
  • MGA21-005 intersected 62.45 m @ 1.17 g/t Au, including 10.00 m @ 3.12 g/t Au, including 1.50 m @ 6.96 g/t Au and 1.00 m @ 7.82 g/t Au
  • MGA21-002 intersected 54.70 m @ 1.26 g/t Au, including 1.50 m @ 4.70 g/t Au, and 13.50 m @ 3.16 g/t Au, including 3.00 m @ 10.65 g/t Au, including 1.50 m @ 17.79 g/t Au
  • MGA21-005 intersected 7.00 m @ 5.83 g/t Au, including 1.50 m @ 23.90 g/t Au
  • MGA21-008 intersected 12.50 m @ 2.30 g/t Au, including 4.50 m @ 5.93 g/t Au, including 1.50 m @ 16.10 g/t Au
  • MGA21-005 intersected 39.50 m @ 0.94 g/t Au, including 25.50 m @ 1.11 g/t Au, including 1.05 m @ 16.20 g/t Au
  • MGA21-003 intersected 34.00 m @ 0.85 g/t Au, including 12.00 m @ 1.46 g/t Au, including 5.00 m @ 2.08 g/t Au, including 1.00 m @ 3.09 g/t Au
  • MGA21-009 intersected 46.00 m @ 0.57 g/t Au, including 1.50 m @ 7.08 g/t Au
  • MGA21-003 intersected 7.00 m @ 1.81 g/t Au, including 1.00 m @ 11.80 g/t Au

Gary O'Connor, Moneta's Chief Executive Officer, commented, "These latest drill results, testing both the open pit and underground resource potential at Garrcon, have confirmed significant gold mineralization in step-out drilling beyond the current resource and within an area with significant historical gold mineralization not currently in any resource category. The Garrcon drilling program was testing for gold mineralization outside of the current open pit and as potential high grade underground extensions below the current open pit resource. Gold mineralization was intercepted as both high grade and wide zones, has the potential to expand the current Garcon open pit resource, and add an underground resource at higher grades. The Garrison deposits currently occur as good starter pits in the early years of development with good outcropping gold mineralization at high grades and a low strip ratio. We look forward to adding to this and updating the mineral resource estimate for the Tower Gold project, which is currently underway."

The latest assay results from the Garrcon underground and open pit resource expansion drill program include the assay results from ten (10) drill holes for a total of 6,630.0 m. The drill program was conducted to test the open pit resource expansion potential and to test for the potential for underground resources at Garrcon. The Garrcon target currently contains no underground resources and an open pit gold resource currently containing 0.55 Moz gold at a grade of 0.82 g/t gold in indicated resources and 0.20 Moz at a grade of 0.87 g/t gold in the inferred category at a cut-off grade of 0.30 g/t gold (see January 14, 2021 press release). The Garrcon area has been the subject of significant historical drilling and the development of an underground exploration shaft and development, and surface bulk sampling open pits. Full assays have now been reported for all drill holes from the 2020/2021 resource expansion drill plan, comprised of 72,500 m in 130 drill holes.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4852/117918_5990e45574e5db5f_002.jpg
 
Figure 1: Tower Gold Project: General Location Map

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4852/117918_5990e45574e5db5f_002full.jpg
 

Table 1: Garrcon: Selected Significant Drill Results

HoleFrom ToLengthAuGram metres
(#)(m)(m)(m)(g/t)(g x m)
MGA21-001516.00544.0028.000.4312.0
includes520.00521.001.003.083.1
MGA21-00267.0069.102.102.725.7
including68.0068.800.805.354.3
MGA21-00284.00110.0026.000.4110.7
includes104.00109.005.000.995.0
MGA21-002117.00132.0015.000.416.2
includes130.00131.001.001.741.7
MGA21-002138.50187.5049.000.3517.2
includes149.60161.5011.900.738.7
includes155.50157.001.502.694.0
MGA21-002305.50310.905.401.729.3
includes306.70310.003.302.638.7
includes306.70307.300.607.204.3
MGA21-002333.30388.0054.701.2668.9
includes338.00342.504.502.6011.7
includes341.00342.501.504.707.1
and348.50362.0013.503.1642.7
includes351.50354.503.0010.6532.0
includes353.00354.501.5017.7926.7
MGA21-002400.60404.003.401.876.4
includes400.60402.001.403.925.5
MGA21-002411.50445.0033.500.4214.1
includes435.50438.503.001.975.9
includes437.00438.501.502.433.6
MGA21-002519.50530.0010.500.616.4
includes521.00522.501.501.572.4
MGA21-003492.00499.007.001.8112.7
includes498.00499.001.0011.8011.8
MGA21-003549.00583.0034.000.8528.9
includes555.00567.0012.001.4617.5
includes555.00560.005.002.0810.4
and559.00560.001.003.093.1
MGA21-00462.1578.0015.850.528.2
includes64.1566.001.851.011.9
MGA21-004547.85553.355.501.256.9
including552.35553.351.005.895.9
MGA21-005226.00239.5013.500.8511.5
includes231.00239.508.501.179.9
and238.00239.501.502.994.5
includes238.00239.001.003.193.2
MGA21-005301.50325.0023.500.4310.1
including310.00311.001.001.381.4
and324.50325.000.502.711.4
MGA21-005329.00342.0013.000.516.6
including335.00342.007.000.684.8
including335.00336.001.002.412.4
MGA21-005410.00417.007.005.8340.8
includes415.50417.001.5023.9035.9
MGA21-005465.50505.0039.500.9437.1
includes466.50492.0025.501.1128.3
includes466.50467.551.0516.2017.0
MGA21-005533.00600.0067.003.05204.4
includes554.50593.0038.504.85186.7
includes559.35593.0033.655.45183.4
includes 570.00593.0023.007.50172.5
includes584.25593.008.7515.85138.7
includes 591.00592.001.00114.00114.0
MGA21-005612.15674.6062.451.1773.1
includes612.15630.5018.351.3925.5
includes612.15614.001.852.614.8
and623.00630.507.501.9514.6
includes625.00625.950.953.223.1
and647.00657.0010.003.1231.2
includes648.50650.001.506.9610.4
and656.00657.001.007.827.8
MGA21-005681.00710.0029.000.5616.2
includes689.20691.001.803.466.2
includes690.20691.000.804.673.7
MGA21-00844.5556.5011.950.485.7
includes44.5546.501.951.783.5
includes44.5545.500.952.011.9
MGA21-008180.00181.501.503.605.4
MGA21-008211.00257.0046.000.4118.9
MGA21-008246.00255.809.800.858.3
includes246.00247.501.503.044.6
and255.00255.800.803.632.9
MGA21-008318.00360.3542.350.4217.8
includes333.00334.501.502.784.2
and356.00357.601.602.373.8
MGA21-008363.20376.4513.250.8811.7
includes367.50376.458.951.109.8
includes367.50369.001.502.293.4
MGA21-008415.50427.5012.000.667.9
includes418.40423.004.601.255.8
MGA21-008434.50447.0012.502.3028.8
includes434.50439.004.505.9326.7
includes437.50439.001.5016.1024.2
MGA21-00954.6056.001.406.889.6
includes54.6055.400.8011.909.5
MGA21-009480.00526.0046.000.5726.2
includes489.00490.501.507.0810.6
and520.00521.001.002.612.6
MGA21-009564.70590.0025.300.5213.2
includes580.30585.004.701.617.6
includes584.00585.001.002.882.9
MGA21-010280.00304.0024.000.337.9
includes286.00288.002.001.182.4
and302.00304.002.001.362.7

 
Note: 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.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4852/117918_5990e45574e5db5f_003.jpg
 
Figure 2: Garrcon Drill Program: Drill Hole Location Map

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4852/117918_5990e45574e5db5f_003full.jpg

Discussion of Drill Results

Drilling was targeting gold mineralized stacked quartz veins hosted within Timiskaming age clastic sediments located north of the regional Destor Porcupine Fault zone and hosted within a transgressive sedimentary basin setting in the Garrison area. Gold mineralization is spatially associated with a regional Banded Iron Formation ("BIF") unit similar to the geological setting of gold mineralization in the Golden Highway area, situated 5 km to the west of the Garrison area. The main orientation of gold mineralized structures within the Garrison basin is east dipping. The drilling was testing a large area adjacent to and under the current Garrcon open pit resource including mineralization to depth. Significant higher grade mineralization has been drilled and developed at Garrcon down to depths of over 1,000 m. No underground resource currently exists at Garrcon and the Garrison area.

Drill results from the current program at Garrcon have confirmed the continuation of east dipping stacked quartz vein sets and associated ankerite-albite-quartz-pyrite alteration haloes in large step-outs below the open pit occurring as both potentially open pit and underground resources. The latest assay results confirmed gold mineralization over an area 750 m long, 500 m wide, and down to depths of over 500 m.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4852/117918_5990e45574e5db5f_004.jpg
 
Figure 3: Garrcon Drilling- Cross Section

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4852/117918_5990e45574e5db5f_004full.jpg

Table 2: Drill Hole Details: Garrcon

HoleEastingNorthingElevationAzimuthInclinationDepth
(#)(mE)(mN)(masl)(°)(°)(m)
MGA21-0015789785373746289280-65546.0
MGA21-0025795495374049309280-55750.0
MGA21-0035797285374006306280-55714.0
MGA21-0045795795374149301280-60720.0
MGA21-0055790155373852292280-60807.0
MGA21-006 5793915374079286280-60299.0
MGA21-0075797105374127307280-60702.0
MGA21-0085788865373922285280-60687.0
MGA21-0095797205374227307280-55699.0
MGA21-0105786895373804288280-75706.0

 

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 Gold

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117918

News Provided by Newsfile via QuoteMedia

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.

The total number of shares represented by shareholders present in person virtually and by proxy at the Meeting was 52,456,986, representing 55.23% of the Corporation's outstanding shares.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Moneta Increases Resources to 4,265,000 Oz Gold Indicated and 7,496,000 Oz Gold Inferred at Tower Gold Project

Moneta Increases Resources to 4,265,000 Oz Gold Indicated and 7,496,000 Oz Gold Inferred at Tower Gold Project

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:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Moneta Gold: Invitation to VRIC Booth 216

Moneta Gold: Invitation to VRIC Booth 216

Moneta Gold (TSX: ME) would like to cordially invite you to visit us at Booth #216 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Tuesday May 17 Wednesday May 18, 2022.

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.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Moneta Expands Gold Mineralization at 55 Zone, Tower Gold Project

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.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Moneta Continues to Expand Gold Mineralization at Windjammer Central, Tower Gold Project

Moneta Continues to Expand Gold Mineralization at Windjammer Central, Tower Gold Project

Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) ("Moneta") is pleased to announce the final assay results from twelve (12) previously partially announced and six (6) new drill holes at Windjammer Central, 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.

This drilling successfully intersected gold mineralization over a strike length of 1,500 m and a width of 300 m to the north of the Windjammer South open pit gold resource within the Windjammer Central area. Today's results confirm significant extensions of gold mineralization to the current gold resource at Windjammer South both within and as extensions to the current economic open pit.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Breaker Resources NL

Switzer Virtual Small & Micro Cap Investor Presentation

Breaker Resources NL is pleased to advise that COO, Sam Smith will be presenting at the Switzer July Virtual Small & Micro Cap Investor Day today at 9.30am AEST / 7.30am AWST.

The presentation slides to be delivered by Mr Smith are attached.

Keep reading...Show less
a hard hat, maps and other mining equipment sitting on a table

Have Challenging Economic Times Made Mining Finance More Difficult?

After 2020’s broad disruptions put a damper on mining exploration, project financing was able to recoup 2020’s losses last year with spending growing 35 percent year-over-year.

Rising commodity prices also added tailwinds to the sector as an additional 200 companies announced plans to get shovels into the ground.

Unfortunately, 2021’s momentum has somewhat waned this year as runaway energy prices and record high inflation make junior financing more challenging.

Keep reading...Show less

Kibali Drives Sustainable Value Creation

All amounts expressed in US dollars

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) The Kibali gold mine's investment in the Democratic Republic of Congo now exceeds $4 billion and it has created a thriving regional economy in a remote part of the country through partnering with and mentoring local entrepreneurs, uplifting host communities and upgrading essential infrastructure.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Kinross to announce Q2 results on July 27, 2022

Kinross Gold Corporation (TSX:K; NYSE:KGC) will release its financial statements and operating results for the second quarter of 2022 on Wednesday, July 27, 2022, after market close. On Thursday, July 28, 2022 at 8:00 a.m. EDT Kinross will hold a conference call and audio webcast to discuss the results, followed by a question-and-answer session. The call-in numbers are as follows:

Canada & US toll-free – (888) 330-2446; Passcode: 4915537
Outside of Canada & US – (240) 789-2732; Passcode: 4915537

Replay (available up to 14 days after the call):

Canada & US toll-free – (800) 770- 2030; Passcode: 4915537
Outside of Canada & US – +1 (647) 362- 9199; Passcode: 4915537

You may also access the conference call on a listen-only basis via webcast at our website www.kinross.com . The audio webcast will be archived on www.kinross.com .

About Kinross Gold Corporation

Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana. Our focus is on delivering value based on the core principles of operational excellence, balance sheet strength, disciplined growth and responsible mining. Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).

Media Contact
Louie Diaz
Vice-President, Corporate Communications
phone: 416-369-6469
louie.diaz@kinross.com

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Newmont Reaches Profit Sharing Agreement with Peñasquito Union

Newmont Corporation (NYSE: NEM, TSX: NGT) today announced that it has reached a profit-sharing agreement with its represented workforce at the Company's Peñasquito mine in Zacatecas, Mexico. The agreement supports the continued operation of Peñasquito into the future.

Consistent with other agreements across Mexico, Newmont Peñasquito will pay its represented workforce an uncapped profit-sharing bonus up to 10%, with an immediate cost equivalent of $70 million, which is representative of the payments related to 2021 results.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

WHEATON PRECIOUS METALS ENTERS INTO AGREEMENT TO TERMINATE ITS EXISTING SILVER STREAM IN THE KENO HILL SILVER DISTRICT

Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is announcing that it has entered into a definitive agreement with Hecla Mining Company ("Hecla") (NYSE: HL) to terminate its silver stream on Alexco Resource Corp.'s ("Alexco") (NYSE American: AXU) (TSX: AXU) Keno Hill Silver District ("Keno Hill") in the Yukon, Canada for US$135 million .

"The termination of the Keno Hill stream further demonstrates our ability to strategically identify opportunities both inside and outside of our portfolio that create value for our shareholders and positions Wheaton to continue to have one of the strongest balance sheets in the industry. While we firmly believe that Keno Hill is a high-quality district with significant exploration potential, given recent announcements, the ability to obtain an immediate return on the termination of the stream was too compelling to ignore," said Randy Smallwood , Wheaton's President and Chief Executive Officer. "We believe Hecla is well positioned to effectively mine Keno Hill and maximize its full potential."

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×