Golden Highway Project located 110 km east of Timmins, Ontario (Figure 1).
Moneta Intercepts 4.20 m @ 41.08 g/t Gold Including 0.90 m @ 141.50 g/t Gold at
the South West Deposit
Symbol: TSX: ME
TORONTO, March 1, 2018 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF)
(XETRA:MOP) ("Moneta" or the "Company") is pleased to announce the results from four additional
diamond drill holes completed on the South West Deposit ("South West") located within the Company's
Golden Highway Project located 110 km east of Timmins, Ontario (Figure 1).
Highlights:
• Drill hole MGH17-064 intersected 4.20 metres ('m") @ 41.08 grams per tonne gold ("g/t Au")
including 0.90 m @ 141.50 g/t Au at a depth of 472.80 m, from a second and new mineralized
shoot (SW-2) identified;
• The second and new shoot is located east of the first shoot (SW-1) drilled in hole MGH17-056
which returned 4.01 m @ 38.33 g/t Au, including 0.96 m @ 144.19 g/t Au reported on 08
February 2018;
• Drill hole MGH17-063 intersected 7.10 m @ 2.28 g/t Au, including 1.00 m @ 7.72 g/t Au at a
depth of 229.90 m from a fourth and new mineralized shoot (SW-4) in the eastern Gap area of
South West;
• Hole MGH17-067 confirmed the up-dip extensions of the central deep array of veins at South
West intercepting 2.90 m @ 2.08 g/t Au (Willow) at a depth of 214.10 m and 3.00m @ 2.58 g/t
Au (Arbutus) at a depth of 296.00 m
Gary O'Connor, Co-CEO & Chief Geologist commented, "The four latest drill holes from South West have
confirmed our new interpretation of the newly recognized mineralized shoots along the main shear plane
contact. It is encouraging that drill testing of the second shoot (SW-2) returned assays of up to 4.20m @
41.08 g/t Au confirming the potential high grade nature of these structures. The South West deposit
continues to grow and expand, now covering an area over 800 m in strike length, with current drill results
now confirming two new mineralized shoots and up-dip extensions of veins previously drilled at depth.
Drilling continues on the South West deposit to expand the number and confirm the grades of the tension
vein arrays and mineralized shoots."
The latest assay results are from four drill holes totalling 2,292.00 m of drilling at South West. The
ongoing drill program at South West was part of the previously announced exploration drill program
undertaken by the Company in late 2017 designed to test higher grade targets on the Golden Highway
Project. The program consisted of over 20,000 metres and 50 drill holes and the encouraging results
have driven the Company to expand the drill program. Assays for additional drill holes are pending and
will be released as they become available.
Please click here for Figure 1: South West Location Map - Golden Highway Project:
http://www.monetaporcupine.com/i/maps/NR-mar12018-fig1.jpg
South West Deposit
The South West drill program has been successful in confirming the existence of new tension veins and
shear plane bounded mineralized shoots. The tension vein arrays occur as stacked en échelon veins
along the southern margins of an ENE trending shear zone which occurs along the Banded Iron
Formation ("BIF") contact. This contact hosts the mineralized shoots or "D" structures which plunge ~65°
to the west and occur up to 50m long, 25m wide and have been traced to depths of 400m. The second
(SW-2) and fourth (SW-4) mineralized shoots have now been successfully drill tested at South West.
Drilling to date has confirmed fourteen NW trending tension veins which dip steeply to the south-west at
70°. The veins have an average width of approximately 3.00 m and are spaced 25 m to 30 m apart. The
veins can be traced for up to 350 m strike length, have been drilled to 900 m depth and are open to the
south.
The tension veins and stock-work style veining within the shoots at South West occur as quartz-
carbonate-pyrite veins within a distinct ankerite alteration halo occasionally associated with sericite. A
zone of pyrite-chlorite and quartz veinlets occurs adjacent to the veins and hosts mineralization. The
veins can be brecciated and occur as quartz matrix supported breccia zones.
Please click here for Figure 2: South West: Geology and Drill Location Map:
http://www.monetaporcupine.com/i/maps/NR-mar12018-fig2.jpg
South West Drill Results
Drill hole MGH17-064 was designed to test the occurrence of the second mineralized shoots (SW-2)
which had been identified and modelled from historical drilling. The hole intersected 4.20m @ 41.08 g/t
Au including 1.70 m @ 96.14 g/t Au which includes 0.90 m @ 141.50 g/t Au at a depth of 472.80 m
within a wide zone of quartz-carbonate-pyrite veining on the BIF contact. This hole also confirmed the
extensions of the Cedar, Pine and Spruce veins near the BIF contact with Spruce assaying up to 0.83 m
@ 3.76 g/t Au at a depth of 525.70 m.
Drill hole MGH17-059 was drilled to test the area between the SW-1 and SW-2 mineralized shoots. The
hole did intercept the edge of the quartz-carbonate-pyrite veining in SW-2 from 512.00 m and returned
2.00 m @ 2.67 g/t Au but did not intercept the core mineralized portion and confirmed that the shape and
plunge of the mineralized structures. The hole also intersected the extensions of the Balsam vein near the
BIF contact returning 0.70 m @ 3.13 g/t Au at 490.20 m.
Drill hole MGH17-063 was drilled to test the occurrence of a fourth mineralized shoot (SW-4) to the east
in the Gap area along the same shear zone in contact with the BIF unit. The hole intersected the shoot or
"D" structure from 229.90 m as a zone of quartz-carbonate-pyrite veining and returned 7.10 m @ 2.28 g/t
Au, including 1.00 m @ 7.72 g/t Au. Historical drilling of this structure at depth had returned 10.00 m @
7.08 g/t Au in hole MSW11-283 and 1.50 m @ 14.24 g/t Au in hole MSW11-291AX. The assays for the
end of hole MGH17-063 on the BIF contact remain outstanding.
Hole MGH17-067 was drilled to test the up-dip extensions of the historical deep intercepts below the
central South West area. Two of the modelled veins were intersected at 214.10m for the Willow vein and
294.00 m for the Arbutus vein. The veins assayed 2.90 m @ 2.58 g/t Au and 3.00 m @ 2.58 g/t Au
respectively. Historical drilling of the Arbutus vein returned 10.70 m @ 4.81 g/t Au in hole MSW10-162B.
Drilling in historical holes of the Willow vein assayed 7.60 m @ 5.16 g/t Au in hole MSW10-273B and
3.10m @ 5.05 g/t Au in hole MSW11-291.
Please click here for Figure 3: South West: Schematic Cross Section:
http://www.monetaporcupine.com/i/maps/NR-mar12018-fig3.jpg
Table 1: Drill Hole Details
Hole Easting Northing Elevation Azimuth Inclination Depth
# mE mN masl ° ° m
MGH17-059 570,650 5,369,342 320 90 -50 702.00
MGH17-063 571,515 5,369,914 334 35 -56 435.00
MGH17-064 570,671 5,369,418 320 90 -50 702.00
MGH17-067 571,265 5,369,682 325 90 -50 453.00
Table 2: South West: Significant Drill Results
Hole From To Length Au Vein
# (m) (m) (m) (g/t) Name
MGH17-059 284.40 284.80 0.40 2.00
MGH17-059 355.00 356.00 1.00 2.45
includes 482.00 482.80 0.80 2.32
MGH17-059 490.20 490.90 0.70 3.13 Balsam
MGH17-059 512.00 514.00 2.00 2.67 SW-2
includes 512.00 513.00 1.00 3.70 SW-2
MGH17-063 129.40 131.60 2.20 2.54 Stkwk
includes 130.00 131.60 1.60 2.83 Stkwk
MGH17-063 229.90 237.00 7.10 2.28 SW-4
includes 233.00 237.00 4.00 3.01 SW-4
Includes 236.00 237.00 1.00 7.72
MGH17-063 241.55 242.33 0.78 4.02 SW-4
MGH17-063 246.00 247.00 1.00 2.10 SW-4
MGH17-063 264.00 265.00 1.00 2.30 SW-4
MGH17-063 308.00 309.00 1.00 2.07
includes 311.00 312.00 1.00 3.54
MGH17-064 472.80 473.70 4.20 41.08 SW-2
includes 472.80 474.50 1.70 96.14 SW-2
includes 472.80 473.70 0.90 141.50 SW-2
MGH17-064 492.80 493.80 1.00 2.30
includes 495.80 496.80 1.00 2.22
MGH17-064 525.70 526.70 0.83 3.76 Spruce
MGH17-064 694.87 695.60 0.73 2.52
MGH17-067 92.65 93.20 1.10 2.32 EB stwk
MGH17-067 200.00 201.00 1.00 2.96 EB stwk
MGH17-067 214.10 217.00 2.90 2.08 Willow
Includes 214.10 216.25 2.15 2.44 Willow
MGH17-067 249.00 250.00 1.00 2.09
MGH17-067 296.00 299.00 3.00 2.58 Arbutus
MGH17-067 304.42 305.00 1.58 2.19 Arbutus
includes 305.00 306.00 1.00 2.33 Arbutus
MGH17-067 312.00 313.00 1.00 3.40 Arbutus
MGH17-067 336.85 337.35 0.50 2.27
Intercepts are calculated using a 2.0g/t Au cut-off, maximum of 2m internal waste and no top cap. All intercepts are reported as drill
Widths.
QA/QC Procedures
All core drilling conducted by Moneta is oriented. Drill core is sawn and half is sent ALS Canada Inc. for
drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). A 50 g charge is Fire
Assayed and analyzed using a 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 with the samples, as well as completing third-party check assays at Activation
Laboratories Ltd. Gary O'Connor, MAusIMM is a qualified person under NI 43-101 and has reviewed and
approved the contents of this press release.
About Moneta
The Company holds a 100% interest in 5 core gold projects strategically located along the Destor-
Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The
projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, Kayorum and Denton projects.
The Golden Highway Project covers 12 kilometres of prospective ultramafic/mafic volcanic/sedimentary
rocks along the DPFZ hosting a NI 43-101 indicated resource estimate of 1,091,000 ounces (31.1 Mt at
1.09 g/t Au) and 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres.
The Company's public documents may be accessed at www.sedar.com. For further information on the
Company, please visit our website at www.monetaporcupine.com or email us at
SOURCE Moneta Porcupine Mines Inc.
View original content with multimedia:
http://www.newswire.ca/en/releases/archive/March2018/01/c2981.html
%SEDAR: 00003301E
For further information: Gary V. O'Connor, Co-CEO, 416-357-3319; Ian C. Peres, President & Co-
CEO, 416-579-3040
CO: Moneta Porcupine Mines Inc.
CNW 09:12e 01-MAR-18