Symbol: TSX: ME
TORONTO, Feb. 27, 2019 /CNW/ - Moneta Porcupine Mines
Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the
"Company") is pleased to announce that it has commenced its
winter drill program at the Golden Highway Project, located 110 km
east of Timmins, Ontario.
Highlights of Winter Drill program:
- Expand the current gold resources at South West;
- Highlight the resource potential at "55" and Windjammer
South;
- Focus on structures with potentially higher grades and wider
widths;
- Program to consist of approximately 10,000 metres
(m).
The fully funded winter drill program consisting of
approximately 10,000 metres is designed to expand the current
resource at South West where several zones containing high grade
gold mineralization with good widths remain open or were not
included in the recent resource update, including the West Block
and Gap zones. The program will also test the extensions of the
"55" and Windjammer South deposits to highlight the resource
potential on these deposits.
Gary O'Connor, CEO & Chief
Geologist commented, "We were encouraged by the significant
increase in grade and the overall size of the updated mineral
resource estimate released in January
2019 for the Golden Highway Project. The current drill
program underway has been designed to expand the South West deposit
and focus on grade and widths where we have identified several
zones which remain open or were not included in the resource update
due to a lack of drilling. The drill program is also planned to
highlight the overall size potential at the "55" and Windjammer
South deposits."
Qualified Person
The technical content of this press release has been reviewed
and approved by Gary O'Connor,
FAusIMM of Moneta who is deemed a qualified person as defined by
National Instrument 43-101.
About Moneta
The Company holds a 100% interest in 5 core gold projects
strategically located along the Destor-Porcupine Fault Zone (DPFZ)
in the Timmins Gold Camp with over 85 million ounces of past gold
production. The projects consist of the key Golden Highway Project
and the North Tisdale, Nighthawk
Lake, Kayorum and Denton projects. The Golden Highway Project hosts
the current 43-101 resource and covers 12 kilometres of prospective
Banded Iron Formation in contact with Timiskaming clastic sediments
located along the DPFZ.
The Company's public documents may be accessed at
www.sedar.com. For further information on the Company, please visit
our website at www.monetaporcupine.com or email us at
info@monetaporcupine.com.
This news release includes certain forward-looking
information and forward-looking statements, collectively
"forward-looking statements" within the meaning of
applicable Canadian securities legislation. 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 include, but are not limited to
information with respect to the future performance of the business,
its operations and financial performance and condition such as the
Company's drilling program and the timing and results thereof; and
the ability of the Company to finance and carry out its anticipated
goals and objectives.
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.