Moneta pulls good hole in Michaud Twp

The intersection was obtained in hole 95, collared 700 ft from the Moneta/Destiny property boundary and is on strike with the Destiny North zone.

According to Moneta, a re-interpretation of previous North zone drilling now indicates there are at least two mineralized altered volcanic zones with a strike length of up to 3,000 ft.

Three holes in the current program were also drilled on Moneta’s South zone to test vein systems in greywacke rock and an iron formation unit.

No significant results were obtained in the iron formation, but numerous sub-economic gold intersections were encountered in the greywacke. The best result was 0.21 oz gold per ton over 1.3 ft.

The current drill program is continuing with two drills, one testing the North zone, and the other testing targets on the Nahanni option to the west.

The $1 million program is being funded by Unocal Canada of Calgary under a farm-in option agreement. It is designed to further test four previously announced gold zones and to conduct general reconnaissance on untested drill targets.

Unocal, the operator, can earn a 50% interest in the property by spending $5 million over a 3-year period.

The Michaud Twp. claim group, which straddles the Porcupine Destor fault, is Moneta’s most advanced exploration project.

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