Moneta Porcupine Mines Inc. ME TSX Exchange 1st mining comp. listed @ TSE & One of the Oldest Gold Mining Producer In Canada - Moneta Gold Mine The Highest average grade
Gold Mine Producer in Timmins -
still virgin because the mill destroyed early by fire -
the mining were @ shallow level -
the rich ore often start below 1000 meter deep -
The Moneta Gold Mine is located in the NW portion of
Moneta’s Kayorum property and is immediately
adjacent to the east to the Hollinger Gold Mine.
Total production between 1938-1943 was
149,250 oz gold
from 314,829 tons at an average grade of 0.47 oz/t.
The Moneta Gold Mine underground infrastructure includes
a shaft to 1,492 feet with 6 levels of development.
Moneta’s Gold Mine Kayorum property is of particular interest
as the immediately adjacent Hollinger Gold Mine pit project
has been approved with development underway in 2012.
The project envisions a 200-250m deep multiple phase open pit
based on a 2010 resource of 3.47Mozs and 782,000 oz in reserves.
Exploration drill programs have also identified several underground
mining opportunities by ramp and existing underground infrastructure
for both the Hollinger (Millerton) and
McIntyre (Central Porphyry Zone) mines -
Hollinger underground working butt right up the border
of Moneta Gold Mine @ Moneta’s Kayorum property still very large
gold mine property - https://en.wikipedia.org/wiki/Hollinger_Mines
Moneta Announces Closing of Strategic Investment by Eric Sprott - http://crweworld.com/article/news-provided-by-pr-newswire/1246018/moneta-announces-closing-of-strategic-investment-by-eric-sprott#
Moneta holds a 100% interest in 5 core gold projects and a 50% JV with
Kirkland Lake Gold strategically located on or along
the Destor Porcupine Fault Zone corridor (“Destor”), one of the key
mineralized structures in the Abitibi Greenstone belt in Ontario, with
excellent infrastructure including access roads, water, electricity,
Most gold mineralization in the region is associated with the Destor,
including significant resources and producing mines now operated by
Porcupine Gold Mines (Goldcorp) and several others such as Tahoe
Resources, McEwen Mining, and Kirkland Lake Gold.
The Golden Highway Camp has experienced rapid advancement of gold
resources by Moneta and others including Osisko Mining reflecting the
strong regional gold potential.
Moneta has interests in 1,046 claim units each approximately 16 hectares
in area (total area approximately 16,800 hectares) in the form of
mining patents, leases and staked claims.
Most of the Company’s landholdings are not subject to any royalty or
encumbrances other than minor royalties to third parties on a limited
number of claims primarily outside the Golden Highway Project.
The Porcupine Camp and Golden Highway Camp (here collectively referred
to as “Timmins Camp“) is one of the most prolific gold-producing areas
in the world with over 75 million ounces of gold produced to date,
including that from some 26 mines, each of which generated more than
Moneta’s land position for gold exploration is one of the largest in the
Timmins Camp including a commanding position in the emerging
Golden Highway Camp as well as an established position
in the Porcupine Camp.
The Golden Highway Project is a largely contiguous land package of
689 claim units or approximately 11,000 hectares, and contains a
significant gold NI 43-101 Resource Estimate (Jan 2019)
containing 383,400 oz indicated (2.6Mt @ 4.61 g/t)
plus 873,200 oz inferred (6.5Mt @ 4.21 g/t).
Click to enlarge
Moneta’s recent primary gold exploration and resource development focus has
been the Golden Highway Project centred in Michaud Township 100 km east of
Timmins, Ontario along Highway 101, a major all-season route.
The Golden Highway Project captures 12 kms of the Destor Porcupine Fault
Zone Corridor, one of the most prolific Archean gold-bearing structures in the
The project currently hosts a NI 43-101 resource, spanning only 4 km of the
corridor and found primarily within sedimentary host rocks along a southern
splay of the Destor. Resource growth potential exists along
the remaining 8 km of largely untested strike length along the Destor
in contact with ultramafic units, where limited historical drilling has already
confirmed gold mineralization.
The main unconformity which occurs as the mafic volcanic-sediment contact
also remains largely untested.
Moneta also has a 50% stake in the Garrison JV with Kirkland Lake Gold in the
Golden Highway Camp.
Moneta continues to maintain a large land holding in
Porcupine Gold Camp which includes the gold properties of
North Tisdale, Nighthawk Lake, Kayorum, DeSantis and Denton.
Additional properties with strategic value are historical base metal projects and
include Loveland Nickel (Ni), Kamiskotia (Cu/Zn), and Fripp (Cu). http://crweworld.com/article/news-provided-by-pr-newswire/1246018/moneta-announces-closing-of-strategic-investment-by-eric-sprott#
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