Moneta Intercepts 1.75 m @ 9.07 g/t Gold and 1.65 m @ 7.95 g/t Gold From Extensions at South West Deposit
[26-June-2019]
Symbol: TSX: ME
TORONTO, June 26, 2019 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce the results from two diamond drill holes on the 2019 winter drill program. The holes were completed on the South West Deposit ("South West") located within the Company's Golden Highway Project, 110 km east of Timmins, Ontario, (see Figure 1).
Moneta Porcupine Mines Inc. (CNW Group/Moneta Porcupine Mines Inc.)
Highlights:
Drill hole MGH19-113 intersected the extensions of the targeted Gap veins south of and at depth below the current resource at South West. MGH19-117 intersected the veins at depth below the updated resource.
MGH19-113
· Walnut Vein
Drill hole MGH19-113 intersected 3.75 metres ("m") @ 3.10 grams per tonne gold ("g/t Au") including 1.90 m @ 5.79 g/t Au including 0.90m @ 10.60 g/t Au, and 2.65 g/t Au @ 6.73 g/t Au including 1.75 m @ g/t expanding the width and grade of this vein
· Willow Vein
Drill hole MGH19-113 intersected 2.65 m @ 2.24 g/t Au, including 0.80 m @ 5.84 g/t Au extending this vein by 50 m to the south
· Sycamore Vein
Drill hole MGH19-113 intersected 1.65 m @ 7.95 g/t Au including 0.80 m @ 9.37 g/t Au extending the new Sycamore vein by 100 m to the south and 120 m to depth
MGH19-117
· Yew Vein
Drill hole MGH19-117 intersected 1.00 m @ 5.49 g/t Au and 4.00 m @ 2.17 g/t Au including 1.03 m @ 3.90 g/t Au upgrading the grade and width of this vein
· Gap-2 Vein
Drill hole MGH19-117 intersected 2.40 m @ 3.04 g/t Au including 0.70 m @ 8.04 g/t Au extending this vein 100 m to the south
· New Vein
Drill hole MGH19-117 intersected 3.00 m @ 2.57 g/t Au including 1.00 m @ 5.41 g/t Au from a new a new vein
Gary O'Connor, CEO & Chief Geologist commented, "We are encouraged by the ongoing success of the 2019 winter drill program which has continued to intersect the strike and depth extensions of the Gap series of veins at South West beyond the current resource adding up to 200 m strike length to the south and over 300 m depth extent. We are also pleased to have again intersected the depth and southern strike extensions of the new Sycamore vein. The drill program has intercepted many of the veins included in the current resource at South West upgrading the grade and width of veins and confirming the location and continuity. These intercepts will upgrade the confidence of the resource and potentially increase overall grade. The ongoing drill program is designed to continue to test the extensions of the Gap veins and the West Block area veins which were not included in the recent resource estimate update. The drill program is continuing to be successful at drilling the extensions of the resource."
The latest assay results are from the next two drill holes, MGH19-113 and MGH19-117, totalling 1,714.50 m of drilling completed at the South West deposit to test the southern and depth extensions of the Gap veins. The drill holes also infilled the eastern vein structures of the South West deposit upgrading and extending the resource and confirming vein locations, thicknesses and grade. The program has again confirmed the new vein Sycamore.
Table 1: South West: Selected Significant Drill Results
News: $MPUCF Moneta announces increase in Eric Sprott stake to 9.0% - whytestocks thank you great News :-))
Moneta announces increase in Eric Sprott stake to 9.0% Canada NewsWire TORONTO, Sept. 10, 2019 Symbol: TSX: ME TORONTO , Sept. 10, 2019 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce a non-...
Got this from MPUCF - Moneta announces increase in Eric Sprott stake to 9.0%
Moneta announces increase in Eric Sprott stake to 9.0% home / news releases / Moneta announces increase in Eric Sprott stake to 9.0%
TORONTO, Sept. 10, 2019 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce a non-brokered private placement financing with Eric Sprott (the "Placement") of (a) 4,545,455 common shares (the "Shares") at a price of $0.11 per share and (b) 15,625,000 common shares at a price of $0.16 per share, issued on a flow-through basis (the "Flow Through Shares"), for an aggregate amount of $3,000,000 and 20,170,455 shares. The placement will increase Mr. Sprott's shareholding to 27,870,455 shares, equivalent to 9.0% of the total shares outstanding.
The proceeds of the Flow Through Shares will be used to incur Canadian exploration expenditures that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the Company's Golden Highway project, which will be renounced to the subscribers with an effective date no later than December 31, 2019, in the aggregate amount of not less than the gross proceeds raised for the Flow Through Shares portion of this Placement. A total of one hundred and thirty three thousand dollars was paid in cash finder's fees. Closing of the Placement is expected to close shortly. The Placement is subject to a standard four month hold period and final regulatory approval.
About Moneta The Company holds a 100% interest in 6 core gold projects strategically located along the Destor-Porcupine Fault Zone ("DPFZ") in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, DeSantis East, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ground along the DPFZ of which 4 km hosts the current NI 43-101 mineral resource estimate comprised of an indicated resource of 383,400 ounces gold contained within 2.59 Mt @ 4.61 g/t Au and a total of 873,200 ounces gold contained within 6.46 Mt @ 4.21 g/t Au in the inferred category at a 3.00 g/t Au cut-off.
The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.
This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated goals and objectives.
Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
Moneta Porcupine Mines Inc. (TSX:ME, OTC:MPUCF) CEO Clip: Gary O'Connor Moneta Porcupine Mines | Canada's Most Prolific Gold Mining Camp - •Apr 23, 2020 In this video the CEO of Moneta Porcupine Mines, Gary O'Connor, talks about the company's gold exploration in the Timmins Gold Camp.
Moneta Porcupine Mines is a gold exploration company that holds a 100% interest in 6 core gold projects and a 50% JV with Kirkland Lake Gold strategically located on or along the Destor Porcupine Fault Zone corridor ("Destor"). Destor is one of the key mineralized structures in the Abitibi Greenstone belt in Ontario and has excellent infrastructure including access roads, water, electricity and mills.
All of the Moneta's properties are in the Timmins Gold Camp. They're exploring for gold deposits along the Destor Porcupine, Canada's most prolific gold mining camp.
In Conversation: Gary O'Connor @Moneta Porcupine - A solid Ontario position and backing from strategic investors. What will 2020 bring for Moneta Porcupine?
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