February 2012 -
http://www.monetaporcupine.com/i/pdf/MONETA_FEB_2012.pdf
About Moneta est. of GOLD valuations
let's start with an ex....
Golden Highway Project which contains 3.1 million ounces gold
(NI 43-101) -
Proven & Probable
US$92/oz x 3.1 million ounces gold
(NI 43-101) = US$285 million -
compare with Moneta Porcupine Mines total of
the market cap valuation - Market Cap: CAN$56,630,555.-- only
its very undervalued and oversold - what a Au bargain play
http://tmx.quotemedia.com/quote.php?qm_symbol=ME
on the TSX and TSX Venture (companies selected run the gambit
from junior explorers, to advanced development and also
producers) which had NI 43-101 categorized resources in
three industry standard categories of
1) Inferred,
2) Measured & Indicated, and
3) Proven and Probable.
The results were tabulated in US funds according to closing
valuations for the last full trading week in the month of
January 2012.
Results (rounded to the closest dollar) are as follows:
1)
Inferred
US$47/oz
2)
Measured & Indicated
US$72/oz
3)
Proven & Probable
US$92/oz
Moneta holds a 100% interest in 5 core projects strategically
located along the Destor Porcupine Fault Zone in the world class
Timmins Camp with excellent infrastructure including access
roads, water, electricity, and mills.
The land position is one of the largest -
after three gold producers -
including the highly prospective
Golden Highway Project which contains 3.1 million ounces gold
(NI 43-101) and covers 12 kilometers of a volcanic/sedimentary
belt along the Destor Porcupine Fault Zone, similar to that
which has hosted the bulk of the 75 million ounces mined to
date in the Timmins Camp.
Moneta expands near surface gold mineralization on Golden Highway Project
TIMMINS, ON, Feb. 2, 2012 /CNW/ -
Moneta Porcupine Mines Inc.
(TSX: ME / OTC: MPUCF / XETRA: MOP) ("Moneta") announces results
from its ongoing exploration program on its 100% owned
Golden Highway Project,
located 100km east of Timmins, Ontario (Canada).
http://tmx.quotemedia.com/article.php?newsid=48055239&qm_symbol=ME
Ian C. Peres, President and CEO said, "Windjammer Central is
one of the key target areas in 2012 and we are pleased with
the results to date.
This large mineralized envelope is important as it lies between
Windjammer North and Windjammer South and has the potential
to develop into a new gold resource which may incorporate
Windjammer North, and have possible linkage to
Windjammer South".
Drill highlights include:
MWJ-11-51:
MWJ-11-53:
MWJ-11-55:
MWJ-11-57:
0.97 g/t over 22 metres or 0.72 g/t over 57 metres
1.02 g/t over 73 metres or 0.76 g/t over 140 metres
0.94 g/t over 54 metres including 1.42 g/t over 26 metres
1.06 g/t over 22 metres or 0.72 g/t over 55 metres
The Windjammer Central target area is one of five priority target
areas to be drilled in 2012 immediately within and adjacent to
the existing NI 43-101 gold resource open pit shells.
Windjammer Central is located in a similar geological setting as
Windjammer South (0.9Moz NI 43-101 resource) and current
drilling has now confirmed the same style of mineralization. A
mineralization envelope 200m in width and 750m in strike length
has been identified within the sediments along the volcanic-
sedimentary contact, on one of two branches of the prolific
Destor Porcupine Fault Zone that pass through
Moneta's Golden Highway Project.
The Windjammer North gold mineralization, not included in
the current NI 43-101 resources, is found immediately north
of this large mineralization envelope.
For a plan map of the New Mineralized Envelope between Windjammer
North and Windjammer South,
please click on the following link:
http://www.monetaporcupine.com/i/pdf/2012-02-01_NRM1.pdf
Additional drilling is underway to continue to expand the
mineralized envelope east-westerly along strike and southerly
towards Windjammer South.
Drill highlights are summarized in the following table:
Drill hole
From
(m) To
(m) Width (1)
(m) Vertical
Depth (m) Au
(g/t)
MWJ11-51 144.00 154.00 10.00 110 0.70
incl. 144.00 159.00 4.60 0.96
291.00 300.00 9.00 1.05
incl. 295.00 298.00 3.00 1.69
412.00 468.60 56.60 0.72
incl. 412.00 434.00 22.00 0.97
MWJ11-52 107.00 109.00 2.00 85 3.26
181.00 182.00 1.00 6.74
208.00 209.00 1.00 5.86
302.00 313.00 11.00 0.79
318.00 330.00 12.00 0.89
incl. 327.00 330.00 3.00 2.13
MWJ11-53 211.00 351.00 140.00 165 0.76
incl. 211.00 220.00 9.00 1.34
and 270.00 343.00 73.00 1.02
incl. 296.00 320.00 24.00 1.15
incl. 328.00 343.00 15.00 0.96
MWJ11-54 133.70 137.52 3.82 110 1.56
368.00 376.00 17.00 0.71
incl. 368.00 369.00 1.00 5.83
MWJ11-55 139.00 145.00 6.00 105 0.78
212.00 265.55 53.55 0.94
incl. 239.42 265.55 26.13 1.42
incl. 265.00 265.55 0.55 27.67
MWJ11-57 261.00 316.00 55.00 200 0.72
incl. 294.00 316.00 22.00 1.06
incl. 316.00 316.00 1.00 6.61
(1) Drilled widths are currently reported
R. Skeries, P.Geo., is the Qualified Person for the purposes of NI 43-101 and has approved the technical content of this release.
About Moneta
Moneta holds a 100% interest in 5 core projects strategically
located along the Destor Porcupine Fault Zone in the world class
Timmins Camp with excellent infrastructure including access
roads, water, electricity, and mills.
The land position is one of the largest -
after three gold producers -
including the highly prospective
Golden Highway Project which contains 3.1 million ounces gold
(NI 43-101) and covers 12 kilometers of a volcanic/sedimentary
belt along the Destor Porcupine Fault Zone, similar to that
which has hosted the bulk of the 75 million ounces mined to
date in the Timmins Camp.
Moneta's public documents may be accessed at www.sedar.com.
For further information on Moneta, please visit our website at http://www.monetaporcupine.com
or email us at info@monetaporcupine.com.
Assay Reporting: Diamond drill core logging and sampling follows general industry practices whereby logged and sample marked core is sawn in half with one half bagged and tagged for shipment to the assay laboratory and the remaining half of the sawn core returned to the core box for storage and future reference. Pulps and rejects are also stored. Blanks and a range of standards are inserted into the sample steam at regular intervals. Initial assays, metallics, and routine duplicates are completed by Expert Laboratories. Up to 15% of the pulps are submitted to a second laboratory as duplicates and checks. All laboratories used standard 30g fire assay techniques. Additional core sampling and assaying, including second cuts and metallics, may be completed at later dates. Intersections are reported using drilled widths unless specified otherwise with assay values as simple averages of duplicates and gravimetric results.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, --- we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
Ian C. Peres, President & CEO
416-579-3040 (Toronto)
705-264-2296 (Timmins)
iperes@monetaporcupine.com
http://investorshub.advfn.com/boards/board.aspx?board_id=5495
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