Moneta Porcupine: Exploring in Prolific Gold Mining Camp
The Golden Highway Project in the Abitibi Greenstone belt
Moneta Porcupine Mines is a gold exploration company in Canada’s most prolific gold mining camp. They hold a 100% interest in 6 core gold projects and a 50% Joint Venture with Kirkland Lake Gold. They are strategically located on or along the Destor Porcupine Fault Zone corridor (“Destor”). This is one of the key mineralized structures in the Abitibi Greenstone belt in Ontario. Further, it has excellent infrastructure including access roads, water, electricity, and mills. Most gold mineralization in the region is associated with the Destor. This includes significant resources and producing mines now operated by Porcupine Gold Mines (Newmont-Goldcorp) and several others. Markedly, the Golden Highway Camp has experienced rapid advancement of gold resources by Moneta and others including Osisko Mining reflecting the strong regional gold potential.
More on the Golden Highway Project
“Moneta currently has 1.8 million ounces on the Golden Highway deposit. We are drilling out the adjacent deposits and we will be updating the resource estimates on those.”, says CEO Gary O’Connor.
Moneta’s land position covers 618 km2 and is also one of the largest after the three main gold producers in the Timmins Camp. It includes the highly prospective Golden Highway Project which covers 12 kilometres of a volcanic/sedimentary belt and contains four branches of the Destor.
Further, the Golden Highway Project hosts a gold NI 43-101 Resource Estimate (November 2019) of 556,500 ounces indicated (3.8Mt at 4.53 g/t Au) plus 1,174,000 ounces inferred (8.5 Mt at 4.31 g/t Au). The property also covers over 200 square kilometres. Additionally, it’s adequate in size to support milling infrastructure. However, six existing mills are within trucking distance and have excess capacity for toll milling. Indicated resources increased by 58% in 2019 and inferred resources increased by 40% during the same period.
For more information on Moneta Porcupine Mines Inc. (TSX:ME, OTC:MPUCF) please fill out the form below.