Moneta commences winter drill program at
Moneta commences winter drill program at
Golden Highway, Ontario
Symbol: TSX: ME
TORONTO
,
Feb. 27, 2019
/CNW/ -
Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF)
(XETRA:MOP) ("Moneta" or the "Company")
is pleased to announce that it has commenced its
winter drill program at the Golden Highway Project, located 110 km east of
Timmins, Ontario
.
Highlights of Winter Drill program:
Expand the current gold resources at South West;
Highlight the resource potential at "55" and Windjammer South;
Focus on structures with potentially higher grades and wider widths;
Program to consist of approximately 10,000 metres (m).
The fully funded winter drill program consisting of approximately 10,000 metres is designed to
expand the current resource at South West where several zones containing high grade gold
mineralization with good widths remain open or were not included in the recent resource update,
including the West Block and Gap zones. The program will also test the extensions of the "55" and
Windjammer South deposits to highlight the resource potential on these deposits.
Gary O'Connor
, CEO & Chief Geologist commented, "We were encouraged by the significant
increase in grade and the overall size of the updated mineral resource estimate released in
January
2019
for the Golden Highway Project. The current drill program underway has been designed to
expand the South West deposit and focus on grade and widths where we have identified several
zones which remain open or were not included in the resource update due to a lack of drilling. The
drill program is also planned to highlight the overall size potential at the "55" and Windjammer South
deposits."
Qualified Person
The technical content of this press release has been reviewed and approved by
Gary O'Connor
,
FAusIMM of Moneta who is deemed a qualified person as defined by National Instrument 43-101.
About Moneta
The Company holds a 100% interest in 5 core gold projects strategically located along the Destor-
Porcupine Fault Zone (DPFZ) in the Timmins Gold Camp with over 85 million ounces of past gold
production. The projects consist of the key Golden Highway Project and the
North Tisdale
,
Nighthawk Lake, Kayorum and Denton projects. The Golden Highway Project hosts the current 43-
101 resource and covers 12 kilometres of prospective Banded Iron Formation in contact with
Timiskaming clastic sediments located along the DPFZ.
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
.
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; 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.
SOURCE
Moneta Porcupine Mines Inc.
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http://www.newswire.ca/en/releases/archive/February2019/27/c7926.html
%SEDAR: 00003301E
For further information:
Gary V. O'Connor, CEO and Chief Geologist, 416-357-3319; Ian C.
Peres, President & CFO, 416-579-3040
CO: Moneta Porcupine Mines Inc.
CNW 08:05e 27-FEB-19