- Moneta Gold (ME) has announced partial assay results from 12 drill holes at Windjammer Central
- Drilling is part of a 72,500-metre program in 130 holes designed to test extensions of the current mineral resource
- Highlights include 14.80 g/t gold over 1.0 metre
- Full assays from an additional 38 drill holes for 16,401 metres from the drill program remain pending
- Moneta is a Canadian-based gold exploration company focussed on advancing its Tower Gold project near Timmins, Ontario
- Shares in Moneta Gold (ME) are down 0.54 per cent, trading at $1.83 per share
Moneta Gold (ME) has announced partial assay results from 12 drill holes at Windjammer Central.
Drilling is part of a 72,500-metre program in 130 holes designed to test extensions of the current mineral resource.
During the program, drilling intersected gold mineralization over an area with a 1,500-metre strike length and 300 metres wide. These results, found north of the Windjammer South open pit resource within the Windjammer Central area, confirm significant extensions of gold mineralization to Windjammer South.
Windjammer South occurs as the largest open-pit gold resource of the Tower Gold project. The open-pit gold deposit currently hosts 1.10 million ounces of indicated gold at 0.84 g/t and 1.03 million ounces of inferred gold at 1.10 g/t.
Highlights from these latest assays include 3.01 g/t gold over 5 metres, including 14.80 g/t gold over 1.0 metres in hole MGH21-237.
Gary O’Connor, Moneta CEO, commented on the results.
“These latest drill results have confirmed significant gold mineralization in an area not previously drill tested and beyond the current gold resources,” he said, adding that “the new discovery has the potential to significantly improve the economics of the open pit.”
Full assays from an additional 38 drill holes for 16,401 metres from the drill program remain pending.
Moneta is a Canadian-based gold exploration company focussed on advancing its Tower Gold project near Timmins, Ontario.
Shares in Moneta Gold (ME) are down 0.54 per cent, trading at $1.83 per share as of 10:50 am EST.