STLLR Gold Inc (ME)

[NYBob]

The K2 Principal Fund L.P. ("K2") announced that on May 1st, 2020
it purchased 98,500 common shares of Moneta Porcupine Mines Inc.
(TSX: ME) of 65 3rd Ave, Timmins, ON, P4N 1C2.
Each share was purchased through the TSX at
a total cost of $11,692.12.

Prior to the recent acquisition, K2 held 31,085,000 common shares.
After the acquisition, the partnership holds 31,183,500 common shares
representing approximately 10.01% of the issued and outstanding common
shares of Moneta Porcupine Mines Inc.

K2 acquired the securities for investment purposes only and may,
depending on market and other conditions, increase or decrease its
beneficial ownership, control or direction over, or exercise its
current rights to acquire, common shares or other securities of
Moneta Porcupine Mines Inc through market transactions, private
agreements or otherwise.

SOURCE The K2 Principal Fund L.P.
Dan Gosselin, The K2 Principal Fund L.P., [phone]


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
of the Gold Mine Producers in Timmins Porcupine Gold Fields -

Moneta Gold Mine 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 Hollinger 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 workings butt right up the border
of Moneta Gold Mine @ Moneta’s Kayorum property -
is 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 Porcupine Mines Inc 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,
and mills.

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
Pan American Silver Corp. (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 Porcupine Mines Inc. has interests in 1,046 claim units each
approximately 16,800 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 Gold 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 100,000 ounces.

Moneta’s land position for gold exploration is one of the largest in
the Timmins Gold 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) -
had plenty of more drillinng since and will be upgraded -



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 world.

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#

In GOD We Trust -






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Gold & Silver is the only REAL Legal Tender -

by The Founding Fathers for your -

Rights, Liberty and Freedom -

http://www.biblebelievers.org.au/monie.htm

God Bless America
Ps.
opinion appreciated
TIA