Moneta Porcupine (ME.TO) has released the assay results of an additional 8 holes that were drilled at the South West deposit, which is a part of the Golden Highway project in Ontario. Some of the holes of the current drill program are aimed at extending the total strike length and the depth extension of the mineralized vein structures.
The recent assay results have now confirmed the existence of five mineralized shoots (with recent intervals of 5.5 meters at 4.65 g/t gold and 1.7 meters at in excess of 5 g/t gold), whilst 15 separate veins have been discovered to date. Moneta Porcupine has been dormant for quite a while in the past few years, but it looks like the company has now shifted its exploration program into a higher gear considering it completed a 20,000 meter drill program at the end of 2017. Not all assay results have been released just yet, and it will be very interesting to see the additional gold grades. It shouldn’t be too difficult to increase and upgrade the current 4.3 million ounce gold resource estimate.