Moneta intersects new zone at Nighthawk

A second phase of drilling by Moneta Porcupine Mines (ME-T) has intersected a new gold zone on the Nighthawk Lake project, near Timmins, Ont.

The gold mineralization occurs in quartz veins within altered ultramafic volcanics.

Results from the 12-hole program include:

* hole 13, which intersected 5.8 metres (from 144.5 to 150.3 metres) averaging 9.5 grams gold per tonne, including 1.8 metres of 27.3 grams gold; * hole 8, which hit 0.8 metre (from 12.5 to 13.3 metres) of 5.7 grams gold; * hole 6, which yielded 3 grams gold over 2.7 metres (from 150.5 to 153.2 metres) and 6.8 grams gold over 1.3 metres (from 175 to 176.3 metres); and * hole 19, which returned 4.2 grams gold over 1.2 metres (from 231 to 232.2 metres).

The holes were drilled along a 300-metre, east-west direction and between depths of 30 and 300 metres below surface. Mineralization remains open along strike and downdip.

A third phase of drilling is planned for this year.