bigone thank you, RE: This sounds so sweet well said, The Golden Highway Project is only one of six Moneta Porcupine Mines Inc (TSX:ME)
Projects Overview
Moneta Porcupine Mines Inc. (“Moneta”) is a gold exploration company which 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”), 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 (Newmont-Goldcorp) and several others such as McEwen Mining, Pan American Silver, Osisko 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.
The Porcupine Camp and Golden Highway Camp (herein collectively referred to as “Timmins Camp“) is one of the most prolific gold-producing areas in the world with over 80 million ounces of gold produced to date.
Moneta’s land position covers 618 km2 and is one of the largest after the three main gold producers in the Timmins Camp, and includes the highly prospective Golden Highway Project which covers 12 kilometres of a volcanic/sedimentary belt and contains four branches of the Destor.
The Golden Highway Project hosts a gold NI 43-101 Resource Estimate (November 2019) of 556,500 ounces indicated (3.8Mt at 4.53 g/t Au) plus 1,174,000 ounces inferred (8.5 Mt at 4.31 g/t Au).
The property covers over 200 square kilometres and is adequate in size to support milling infrastructure, however, six existing mills are within trucking distance and have excess capacity for toll milling. Indicated resources increased 58% in 2019 and inferred resources increased by 40% during the same period.
The Timmins Camp has first rate infrastructure with excellent off highway access via an extensive network of logging and drilling roads.
Communications and power are available along Highway 101 and cell phone coverage extends to the property.
A skilled labour force for mining and exploration is available in Matheson, Kirkland Lake and Timmins.
Timmins and Kirkland Lake are also major supply and service centers for the mining industry.
The Company is leveraged to gold exploration, with limited overhead and fixed costs and one of the highest ratios of dollars to drilling of any junior explorer.
It is operated by a strong technical and management team which maintains a low-cost Timmins-based exploration operation with its own field office, rolling stock and equipment, and drill core logging and core storage facility (core shack).
Moneta was incorporated pursuant to the laws of the Province of Ontario on October 14, 1910 and its common shares was one of the 1st gold producers trade on the Toronto Stock Exchange (“TSX“) under the symbol ME, on the United States OTC market under the symbol MPUCF, and the Xetra, and Frankfurt Stock Exchange under the symbol MOP. The company is a former gold producer but has no properties currently in production.
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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).
bigone thank you, Why a return to gold standard is the solution for monetary instability Oct 28, 2020 Guest(s): Jan Nieuwenhuijs Gold Analyst, The Gold Observer
Why a return to gold standard is the solution for monetary instability Market Analysis Oct 28, 2020 Why a return to gold standard is the solution for monetary instability Excessive monetary stimulus, a by-product of an “undisciplined” fiat money system, will create problems for our economy as well as financial distortions, and the long-term solution is a monetary “reset,” whereby economies move away from this system and re-adopt a gold standard, said Jan Nieuwenhuijs, gold analyst at The Gold Observer. “There are a lot of financial bubbles, there are excessive debt levels, inequality is rising, you’ve got moral hazards, all ... (read more)
$10,000 Gold Is the Ultimate Endgame, Says Gabelli Funds Analyst 35,417 views •Oct 26, 2020
This year will mark the first year since 1979 to have both gold and the S&P 500 mark new highs during the calendar year. Stansberry Research Anchor Daniela Cambone speaks with Gabelli Funds Senior Analyst Chris Mancini about the significance of this unlikely occurrence. Mancini and Cambone also discuss the impact of the upcoming U.S. presidential election. "If we see a Democratic sweep, it is more likely we will see a huge fiscal stimulus and it will be full game on. The Fed will continue to buy bonds and gold trends up again," Mancini said
bigone yes its exciting, well I held on to Moneta for long time and I think it precious resources can help to feed Dome Mill - ex....
Close to The Old Moneta Mine's large property on the South part is Dome Gold Mine: Ex.... Goldcorp/Newmont makes headway with plan to give Dome mine a new life Cecilia Jamasmie | July 4, 2017
(Image courtesy of Goldcorp via Flickr)
Goldcorp/Newmont makes headway with plan to give Dome mine a new life Porcupine’s Dome started as an open pit and then went underground. Newmont’s Goldcorp (TSX:NGT) (NYSE:NEM), the world’s number one bullion miner in terms of output, is moving forward with its Century project, which aims to extend the life its century-old Dome mine in Ontario.
The Dome mine received a negative sentence in January 2016, when Goldcorp announced it was closing the operation in the summer due to weak bullion prices that nearly half the company’s share price over the previous year.
A few months later, however, the company literally stroke gold as it found indicated mineral resource of 4.5 million ounces and a gold inferred mineral resource of 0.9 million ounces (for a total of 5.4 million ounces) at what is now being called the Dome Century Project.
GOLDCORP MAY BE ABLE TO BEGIN DEVELOPING THE OPEN-PIT CENTURY PROJECT -
Goldcorp kicked off then a conceptual study to expand the open-pit mine, which has just completed, and the project is entering its prefeasibility stage, expected to take about 18 months.
“If we want to be economically viable and continue to contribute to Timmins, we need projects like this to make that happen (…) this is just an example of some of the ideas we have to take PGM (Porcupine Gold Mines) into a second century,” Marc Lauzier, general manager at PGM-Goldcorp told Timmins Today.
Dome is one of the oldest operating gold mines in North America and one of the other two assets — Hoyle Pond and Hollinger open pit — that are part of the Porcupine operation.
While Dome has been what Goldcorp calls a “prolific” gold producer since it began production in 1910, reserves are declining fast. That leaves Porcupine with the Hollinger open pit, set to shut down by 2019, the Hoyle Pond underground operations and the processing facility, which is fed by all three mines.
The potential large-scale open pit Century mine is expected to be close to its development stage by the time Dome approaches the end of its life, Lauzier said.
Despite having sold quite a few mines recently, Goldcorp expects to produce approximately 2.5 million ounces of gold in 2017 and has set itself some ambitious targets for the next five years.
The Vancouver-based miner expects gold production to increase 20% to approximately 3 million ounces, excluding potential production from its Canadian projects and its NuevaUnión joint venture in Chile.
Beside Moneta Gold Mine property is Hollinger Gold Mines. Lord Conrad Black has been the major owner of Hollinger Mines for many years. The large Hollinger Mines underground workings butt right up to Moneta Porcupine Mine border -
Recently Lord Conrad Black was at Gold Show in Vancouver and questioned by Kitco about what he was thinking about that the dollar again be backed by: A Gold Standard return? Here’s how Lord Conrad Black sees it - 27,421 views • Jan 21, 2020
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