The founding fathers of mining are going up August 4th. The three seven-foot tall bronzed statues of Jack Wilson, Benny Hollinger and Sandy McIntyre are completed and being erected in front of the Timmins Museum: NEC. The sculptor, Tyler Fauvelle from Lively, Ontario is expected to be on hand for the official unveiling ceremony, alongside local dignitaries and the Porcupine Prospectors and Developers Association.
Hollinger Gold project will maintain us at full complement of about 700 employees at PGM here in Timmins for the long term. So that's the big benefit," said Bucar.
Bucar added the Hollinger Project alone would account for roughly $50 million a year in operating costs.
Moneta Gold Mine - The Kayorum property covers several patents and leases including the past producing Moneta Mine (149,250 oz.@ 0.47 oz/t) for a total of 52 units, all within the south-western portion of the City of Timmins. Kayorum is directly south and southwest of the Hollinger Mine currently being evaluated by Porcupine Gold Mines (Goldcorp) for its open pit and bulk underground mining potential.
Moneta Porcupine Mines - Tuesday, October 12, 2010 -
Moneta Porcupine Mines Opens The Market -
Ian Peres, President and CEO, Moneta Porcupine Mines Ltd., joined Ungad Chadda, Senior Vice President, Toronto Stock Exchange, to open the market to mark the milestone of Moneta's 100th year as a TSX listed company -
Listed on Toronto Stock Exchange on July 1, 1911, Moneta Porcupine Mines is a gold mineral and exploration and development company and former gold producer. It operates in the Abitibi Greenstone belt in Ontario.
Moneta Porcupine Mines Inc. (TSX: ME) (OTC: MPUCF) (XETRA: MOP) ("Moneta" or the "Company") announces positive results from its metallurgical test program ("Program") on its 100% owned Golden Highway Project, located 100km east of Timmins, Ontario (Canada).
The Company also announces that it has commenced an updated NI 43-101 Mineral Resource Estimate on the Golden Highway Project, which will now include three new and previously excluded gold zones.
The previous Golden Highway Project NI 43-101 resource estimate totaled 3.1 Moz of gold (Press release December 1, 2011).
Highlights:
Recoveries of up to 96.4% Au for the 55 Zone, Gap Zone, Windjammer Central/South/North zones and Southwest Zone;
Recoveries are consistent across all zones and suggest that the mineralization can be processed by one standardized milling method;
The current metallurgical leach results are consistent with historical testing completed on the Southwest Zone by Barrick Gold and Windjammer North and South by Newmont Mining. Composite Feed Grind Size Au Extraction (%) K80, µm 48-hr 55 Zone 25 95.2 Gap Zone 25 95.3 Windjammer Central 22 94.1 Windjammer South 24 95.3 Windjammer North 18 88.0 Southwest Zone 24 96.4 55 Zone 32 96.2 Gap Zone 42 95.7 Windjammer Central 28 95.0 Windjammer South 36 93.2 Windjammer North 23 86.8 Southwest Zone 37 95.4 55 Zone 68 91.5 Gap Zone 75 91.9 Windjammer Central 64 92.7 Windjammer South 70 94.3 Windjammer North 61 78.3* Southwest Zone 79 94.4 * Denotes CIL test result
Mr. Peres, President and CEO of Moneta commented, "This is another important step in advancing our large flagship gold project. We are pleased that our Golden Highway mineralization responds well using standard, cost-effective milling options and generates very high metallurgical recoveries. The next step is to design the mill process flowsheet."
Six composite samples were prepared for each of the gold zones at the average resource grade of 1.0 g/t Au. Composites were tested using three different grind size bottle roll and cyanide leach tests to establish metallurgical recoveries and zone characteristics.
The Program was conducted by SGS Minerals Services under the supervision of Jake Lang, with oversight by EHA Engineering Ltd. for P&E Mining Consultants Inc., authors of the (December 2011) NI 43-101 Technical Report on the Golden Highway Project.
The contents of this press release have been approved by independent Qualified Persons Alfred Hayden, P.Eng of EHA Engineering Ltd. and Eugene Puritch, P.Eng. of P&E Mining Consultants Inc..
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 covers 12 kilometers of a volcanic/sedimentary belt along the Destor Porcupine Fault Zone and hosts a NI 43-101 indicated resource of 1.07 million ounces gold (33.5 Mt at 1.00 g/t) plus a NI 43-101 inferred resource of 2.07 million ounces gold (47.8 Mt at 1.35 g/t) clustered within 4 kilometres.
Moneta's public documents may be accessed at www.sedar.com. For further information on Moneta, please visit our website at http://www.monetaporcupine.com or email us at info@monetaporcupine.com.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. 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 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.
SOURCE: Moneta Porcupine Mines Inc.
Ian C. Peres, President & CEO 416-579-3040 (Toronto) 705-264-2296 (Timmins) iperes@monetaporcupine.com
Last 2 yrs ME found 2 million more Gold ounces - more than it found in the previous 99yrs. - :-) the market value reflect less than 5% of the ME REAL GOLD VALUE
Note. ME traded for many $$ when I first bought it more than 20yrs ago and today its a strategic bargain bottom fishing price :-)
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