E - Moneta Porcupine Mines: Canada's Most Prolific Gold Mining Camp
2023-11-29 03:11:24 ET
Gold exploration in the Timmins Gold Camp
Moneta Porcupine Mines is a gold exploration company. They hold 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. Furthermore, it has excellent infrastructure including access roads, water, electricity, and mills.
All of the Company'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.
"We're the only junior with a sizeable land position and a large resource which we are currently expanding and we will be developing and de-risking our resources as we move forward." says, CEO Gary O'Connor.
The Golden Highway Project
Moneta’s land position covers 618 km 2 . Moreover it's one of the largest after the three main gold producers in the Timmins Camp. It also includes the highly prospective Golden Highway Project. This project 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.
Moneta currently has 1.8 Million ounces on the Golden Highway deposit. In addition, they are drilling out the adjacent deposits and will be updating the resource estimates on those during this year.
In addition, Moneta is looking to advance its large 50/50 Joint Venture with Kirkland Lake Gold in the future.
"Our expanding resource will be key in giving value to our shareholders within a junior such as ourselves, which the majors will be looking to acquire as they move forward." says, O'Connor.
For more information on Moneta Porcupine Mines Inc. (TSX:ME, OTC:MPUCF) please fill out the form below.