Moneta Porcupine Mines Files NI 43-101 Technical Report on New Resource Estimate for the Golden Highway Project, Ontario
TORONTO, March 1, 2019 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce the filing of a technical report covering the new mineral resource estimate for its Golden Highway Project, located 110 km east of Timmins, Ontario.
The Technical Report dated March 01, 2019 was prepared in accordance with National Instrument 43-101 standards for Disclosure for Mineral Projects ("NI 43-101") and has been filed on both SEDAR and the Company's website (www.monetaporcupine.com) and is now available for review.
The Report was prepared by Mr. B. Terrence Hennessey, P. Geo and Mr. Richard M. Gowans, P. Eng of Micon International Ltd. of Toronto, Canada. Mr. B. Terrence Hennessey, P. Geo and Mr. Richard M. Gowans, P. Eng are both considered "Qualified Persons" under NI 43-101. The new technical report covers and supports the technical and scientific disclosure as contained in the new mineral resource estimate reported in Moneta's press release dated January 17, 2019 entitled "Moneta defines New Resource Estimate at its Golden Highway Project of 383,400 oz of Gold at 4.61g/t of indicated resource and 873,200 oz of Gold at 4.21g/t inferred resource."
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 NI 43-101.
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.