Promising Moneta results

A 14,000-ft reconnaissance drill program has outlined two zones of gold mineralization, Moneta Porcupine Mines says. The work was completed on the company’s 100%- owned property in Michaud Twp., Ont. Located east of Matheson, the property was the site of a follow-up program this year.

Drilling on the South zone tested 600 ft of strike length. The best hole was 87-9 which cut a 36.6-ft section grading 0.218 oz gold per ton. The true width is 26 ft, Moneta says. Within the same section, 10 ft assayed 0.38 oz gold. Another hole, 87-16, was drilled 150 ft above the discovery hole. This hole cut low grade values of 0.028 oz gold across 5 ft and 0.04 oz gold in a 9-ft section.

Two additional holes were spotted 100 ft west of the discovery. These also encounterd low grade gold values; the best coming from hole 87-17 which assayed 0.089 oz gold across a 28.4-ft section. Another hole, 87-19, drilled below 87-17, intersected 20 ft grading 0.2 oz gold per ton.

Step-out holes drilled 100 ft and 300 ft east of the discovery section assayed low grade values. The South zone is 3,000 ft south of the North zone, which is associated with the Destor-Porcupine fault. Drilling here also intersected numerous lower grading gold intersections across 2,600 ft of strike.