Moneta Porcupine Mines Inc. (MEAUF)

[NYBob]

RE: Glad to see this - and RE: Undervalued -
thanks bigone and invest13 -

New leadership has started to turn the fortune of the company.
Ever since Gary O' Connor arrived things have been looking up
he has changed the whole strategy of the company, and
the results are showing he has the company heading
in the right direction -

He very professional and perhaps not promotional enough but
in the end good results will get investor attention.
I think the stock is ready to have a sizable move, up.
Today press release should really attract knowledgeable
investors and more coverage.
When it moves I think it will happen quickly.
Of course current bullion prices will be of good support
to our great gold mining profit for ME & us...

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Moneta Porcupine Mines Inc (TSX:ME) GREAT NEWS -
Canada NewsWire
TORONTO, May 21, 2020
TSX: ME

TORONTO, May 21, 2020 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce the results from one hole drilled to test for gold mineralization on the new South BIF Target.

The drill hole was drilled as part of the expanded 2019/2020 winter drill program recently completed on the Company's Golden Highway Project, 110 km east of Timmins, Ontario (Figure 1).

Moneta Porcupine Mines Inc. (CNW Group/Moneta Porcupine Mines Inc.)

Highlights:
Drilling has discovered gold mineralization on the southern margins of the regional Timiskaming sedimentary basin:

MGH20-148: Intersected 3.50 metres "m" @ 8.09 grams per tonne "g/t" including 0.55 m @ 30.40 g/t Au
MGH20-148: Intersected 2.15 m @ 2.66 g/t Au including 0.45 m @ 4.72 g/t Au in a second vein

Drilling intersected a new gold discovery over 1.0 kilometre "Km" west of the current South West gold resource estimate and 500 m south of the new Westaway discovery

"We are excited to have discovered a new zone of gold mineralization at the South BIF target with our latest drilling," commented CEO, Gary O'Connor.

"We intersected mineralized gold veins along the southern margins of the basin adjacent to the recently recognized favourable BIF A host contact.

These veins are possibly extensions of the Westaway gold veins which were recently discovered to the north.

This represents a new regional trend of prospective ground at
the Golden Highway Project where no systematic exploration has been
conducted previously.
We look forward to exploring the trend further."

The latest assay results are from one (1) drill hole, MGH20-148, completed during the 2019/2020 winter drill program at the new South BIF target, located west of the South West Deposit (Table 2). The hole, totaling 609.00 m was drilled to test a potential new trend adjacent to the newly recognized favourable banded iron formation "BIF" A unit.

South BIF Drill Results
Drill Hole MGH20-148 was drilled 500 m south of the new Westaway discovery and over 1 km to the west of the South West deposit. (See press release PR-03-2020 dated 16 January 2020:

Drilling intersected up 7.95 m @ 3.48 g/t Au including 0.95 m @ 13.80 g/t Au from WA-9 and 0.70 m @ 13.50 g/t Au at Westaway).

The drill hole was targeted to test a section of the favourable coarse grain sandstone host adjacent to the newly recognized occurrence of the regional BIF A unit in historical hole M87-66 on the southern margins of the Timiskaming age sedimentary basin.

The drill hole intersected seven (7) new vein structures. Drilling intercepted up to 3.50 m @ 8.09 g/t Au including 3.00 m @ 9.22 g/t Au, including 0.55 m @ 30.40 g/t Au from one vein and 2.15 m @ 2.66 g/t Au including 0.45 m @ 4.72 g/t Au from a second vein.

It is possible that the veins represent extensions of the Westaway gold mineralized veins.
Further drilling will be required to confirm the extensions of veins.

South BIF Target
The South BIF target is located on the contact of the prospective BIF A unit with the overlying coarse sandstone sediments recently recognized near the southern margins of the regional Timiskaming sedimentary basin.

The majority of Moneta's current mineral resources are hosted within this basin.
It is thought that the repeat of the BIF A unit is due to a regional synclinal structure.

The geological setting is similar to the South West deposit located over 1.0 km to the east (Figure 1) and are seen to occur as a series of mineralized vein structures.

The gold mineralized quartz-pyrite veins at South BIF appear to occur as extensional vein structures associated with ankerite-sericite-silica-pyrite alteration haloes.

The zones occur as steeply west dipping WNW-ESE oriented mineralized structures as per the main mineralization at South West and Westaway.

The mineralized veins could potentially be the extensions of the new Westaway discovery located 500 m to the north.

The BIF A unit was not intersected in the hole suggesting it is south dipping. Additional drilling is required to confirm this.

The southern basin margin has not been systematically explored historically and represents a major new regional prospective trend.

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