AI
Moneta's Golden Highway drilling extends potential
open pit strike length to 2.5 kilometers
TIMMINS, ON, May 2, 2012 /CNW/ -
Moneta Porcupine Mines Inc.
(TSX: ME / OTC: MPUCF / XETRA: MOP) ("Moneta") announces results
from its ongoing exploration and resource expansion program
on its 100% owned Golden Highway Project, located 100km east of
Timmins, Ontario (Canada).
http://www.monetaporcupine.com/i/pdf/2012-05-02_NR.pdf
Drilling has been underway in 2012 in the Gap Zone area with a
focus on near surface mineralization to increase drill hole
density and support ongoing internal resource and open pit
modeling (graphics available at www.monetaporcupine.com)
between the Southwest Zone (NI 43-101: currently 1.9Moz Au) and
Windjammer South (NI 43-101: currently 0.9Moz Au) gold zones
and adjacent to the NI 43-101 modeled open pits.
The Gap Zone was not included in the December 2011
NI 43-101 resource estimate (press release December 1st 2011)
and is one of several top priority target areas in
Moneta's Golden Highway Project.
Ian C. Peres, President and CEO said,
"These Gap Zone results continue to establish the near surface
linkage between the Southwest Zone and Windjammer South
NI 43-101 resource open pit outlines.
Additional drilling and internal modeling is underway to
confirm continuity and in-pit resource expansion potential.
We are currently drilling the Windjammer Central priority
target area, located north of Windjammer South,
with results pending."
Mr. Peres continued,
"It now appears that we have a 2.5 km long potential open pit
configuration using conservative estimating parameters, with
strong gold potential at depth and along large cross-
structures.
During 2012 we will work on further defining the economics
of the large open pit project and continue exploring the
deeper extensions as well as the associated cross-structures.
We are very pleased with developments to date".
Near-surface 2012 Gap Zone drill highlights include:
MSW12-295A: 1.04 g/t over 55.0 metres including 5.52 g/t over 4.0 metres
MSW12-301:
1.14 g/t over 39.0 metres including 1.99 g/t over 6.0 metres; and
1.17 g/t over 46.0 metres including 2.61 g/t over 2.25 metres
MSW12-303: 0.99 g/t over 14.25 metres
MSW12-304:
0.89 g/t over 34.69 metres including 29.11 g/t over 0.42 metres; and
0.69 g/t over 18.12 metres including 1.11 g/t over 6.62 metres; and
0.82 g/t over 12.29 metres including 1.35 g/t over 5.28 metres
Higher grade resource expansion potential exists in the Gap Zone, largely untested below a 350 metre vertical depth, with MSW11-283 returning 5.15 g/t over 14.3 metres.
Previously reported near surface drill intercepts in the Gap Zone include:
MSW11-283: 1.06 g/t over 117 meters including 5.15 g/t over 14.3 metres
MSW11-286: 0.84 g/t over 24.0 meters including 1.07 g/t over 17.0 metres
MSW11-288: 0.77 g/t over 27.0 metres
MSW11-290: 1.18 g/t over 23.0 metres including 3.43 g/t over 4.0 metres
MSW11-290A: 0.86 g/t over 55.7 metres including 1.22 g/t over 29.0 metres
MSW11-292: 1.01 g/t over 17.0 metres including 1.89 g/t over 6.9 metres
The Gap Zone gold mineralization is the same as that found in the Southwest Zone and Windjammer South zones and continues along strike within a 150+ metre wide corridor in the hanging wall sediments of the banded iron formation along its southern contact. The current drill results demonstrate the strength of the near surface mineralization, now extending over a 500m strike length within the Gap Zone, and the convergence of the Gap Zone and Windjammer South gold resource domain. Additional gold mineralization occurs along a northwesterly structure and is characterized by increased brecciation and veining. This structure strikes NW with a SW dip cross-cutting the iron formation near the centre of the Gap Zone and has significant potential and will be explored in 2012.
Drill highlights are summarized in the following table:
Drill hole From
To
Width (1)
Vertical
Depth Au
(m) (m) (m) (m) (g/t)
MSW12-295A 183.00 238.00 55.00 150 1.04
Incl. 183.00 190.00 7.00 1.38
and 227.00 231.00 4.00 5.52
276.00 283.00 7.00 1.49
321.00 327.65 6.65 1.21
MSW12-301 169.00 169.66 0.66 130 20.64
193.00 232.00 39.00 1.14
incl. 212.00 218.00 6.00 1.99
240.00 286.00 46.00 1.17
MSW12-303 231.75 246.00 14.25 180 0.99
Incl. 231.75 238.00 6.25 1.57
MSW12-304 84.09 96.38 12.29 70 0.82
incl 91.10 96.38 5.28 1.35
173.65 188.80 15.15 0.70
incl 177.50 180.12 2.62 1.52
204.88 223.00 18.12 0.69
incl 204.88 211.50 6.62 1.11
234.00 268.69 34.69 0.89
incl 253.18 253.60 0.42 29.11
Drilled widths are currently reported
For a 3D View of the Gap Zone Mineralized Domain, please click on the following link:
http://www.monetaporcupine.com/i/pdf/2012-05-02_NRM1.pdf
For a Plan View of the Gap Zone Mineralized Domain, please click on the following link:
http://www.monetaporcupine.com/i/pdf/2012-05-02_NRM2.pdf
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 gold 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 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 --
--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://www.monetaporcupine.com/i/pdf/2012-05-02_NR.pdf
God Bless
open pit strike length to 2.5 kilometers
TIMMINS, ON, May 2, 2012 /CNW/ -
Moneta Porcupine Mines Inc.
(TSX: ME / OTC: MPUCF / XETRA: MOP) ("Moneta") announces results
from its ongoing exploration and resource expansion program
on its 100% owned Golden Highway Project, located 100km east of
Timmins, Ontario (Canada).
http://www.monetaporcupine.com/i/pdf/2012-05-02_NR.pdf
Drilling has been underway in 2012 in the Gap Zone area with a
focus on near surface mineralization to increase drill hole
density and support ongoing internal resource and open pit
modeling (graphics available at www.monetaporcupine.com)
between the Southwest Zone (NI 43-101: currently 1.9Moz Au) and
Windjammer South (NI 43-101: currently 0.9Moz Au) gold zones
and adjacent to the NI 43-101 modeled open pits.
The Gap Zone was not included in the December 2011
NI 43-101 resource estimate (press release December 1st 2011)
and is one of several top priority target areas in
Moneta's Golden Highway Project.
Ian C. Peres, President and CEO said,
"These Gap Zone results continue to establish the near surface
linkage between the Southwest Zone and Windjammer South
NI 43-101 resource open pit outlines.
Additional drilling and internal modeling is underway to
confirm continuity and in-pit resource expansion potential.
We are currently drilling the Windjammer Central priority
target area, located north of Windjammer South,
with results pending."
Mr. Peres continued,
"It now appears that we have a 2.5 km long potential open pit
configuration using conservative estimating parameters, with
strong gold potential at depth and along large cross-
structures.
During 2012 we will work on further defining the economics
of the large open pit project and continue exploring the
deeper extensions as well as the associated cross-structures.
We are very pleased with developments to date".
Near-surface 2012 Gap Zone drill highlights include:
MSW12-295A: 1.04 g/t over 55.0 metres including 5.52 g/t over 4.0 metres
MSW12-301:
1.14 g/t over 39.0 metres including 1.99 g/t over 6.0 metres; and
1.17 g/t over 46.0 metres including 2.61 g/t over 2.25 metres
MSW12-303: 0.99 g/t over 14.25 metres
MSW12-304:
0.89 g/t over 34.69 metres including 29.11 g/t over 0.42 metres; and
0.69 g/t over 18.12 metres including 1.11 g/t over 6.62 metres; and
0.82 g/t over 12.29 metres including 1.35 g/t over 5.28 metres
Higher grade resource expansion potential exists in the Gap Zone, largely untested below a 350 metre vertical depth, with MSW11-283 returning 5.15 g/t over 14.3 metres.
Previously reported near surface drill intercepts in the Gap Zone include:
MSW11-283: 1.06 g/t over 117 meters including 5.15 g/t over 14.3 metres
MSW11-286: 0.84 g/t over 24.0 meters including 1.07 g/t over 17.0 metres
MSW11-288: 0.77 g/t over 27.0 metres
MSW11-290: 1.18 g/t over 23.0 metres including 3.43 g/t over 4.0 metres
MSW11-290A: 0.86 g/t over 55.7 metres including 1.22 g/t over 29.0 metres
MSW11-292: 1.01 g/t over 17.0 metres including 1.89 g/t over 6.9 metres
The Gap Zone gold mineralization is the same as that found in the Southwest Zone and Windjammer South zones and continues along strike within a 150+ metre wide corridor in the hanging wall sediments of the banded iron formation along its southern contact. The current drill results demonstrate the strength of the near surface mineralization, now extending over a 500m strike length within the Gap Zone, and the convergence of the Gap Zone and Windjammer South gold resource domain. Additional gold mineralization occurs along a northwesterly structure and is characterized by increased brecciation and veining. This structure strikes NW with a SW dip cross-cutting the iron formation near the centre of the Gap Zone and has significant potential and will be explored in 2012.
Drill highlights are summarized in the following table:
Drill hole From
To
Width (1)
Vertical
Depth Au
(m) (m) (m) (m) (g/t)
MSW12-295A 183.00 238.00 55.00 150 1.04
Incl. 183.00 190.00 7.00 1.38
and 227.00 231.00 4.00 5.52
276.00 283.00 7.00 1.49
321.00 327.65 6.65 1.21
MSW12-301 169.00 169.66 0.66 130 20.64
193.00 232.00 39.00 1.14
incl. 212.00 218.00 6.00 1.99
240.00 286.00 46.00 1.17
MSW12-303 231.75 246.00 14.25 180 0.99
Incl. 231.75 238.00 6.25 1.57
MSW12-304 84.09 96.38 12.29 70 0.82
incl 91.10 96.38 5.28 1.35
173.65 188.80 15.15 0.70
incl 177.50 180.12 2.62 1.52
204.88 223.00 18.12 0.69
incl 204.88 211.50 6.62 1.11
234.00 268.69 34.69 0.89
incl 253.18 253.60 0.42 29.11
Drilled widths are currently reported
For a 3D View of the Gap Zone Mineralized Domain, please click on the following link:
http://www.monetaporcupine.com/i/pdf/2012-05-02_NRM1.pdf
For a Plan View of the Gap Zone Mineralized Domain, please click on the following link:
http://www.monetaporcupine.com/i/pdf/2012-05-02_NRM2.pdf
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 gold 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 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 --
--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://www.monetaporcupine.com/i/pdf/2012-05-02_NR.pdf
God Bless
My opinions are my own and and DD I post should be confirmed as unbiased
