Moneta Porcupine starts drill program on Golden Highway Project

MINING.COM Editor | September 29, 2016 | 1:19 pm Precious Metals Canada Gold Silver

Giant BC gold project receives new permits

ATON, with a diverse portfolio of investments in the mining, engineering, aviation and health technology sectors, is making its second attempt at a deal after a previous approach failed in 2016. (Image: Mark Agnor, Shutterstock)

Moneta Porcupine Mines announced Thursday the start of its exploration and drilling program on its 100% owned Golden Highway Project, east of Timmins, Ontario. Two drills are currently being mobilized with a third to follow in January of 2017.

The 2016/2017 plan consists of drilling several priority target areas along 8 kilometres of Destor Porcupine Fault Zone corridor adjacent to the Golden Highway NI 43-101 gold resource estimate.

In a press release, the company said that limited historical drilling along the Destor corridor yielded results such as 14.19g/t over 4.3m in Landing Zone, 2.63g/t over 27.8m in Twin Creeks, and 9.19g/t over 8.5m in LC Zone.

The exploration firm also said it expects the discovery and delineation of additional gold mineralization outside of the NI 43-101 conceptual pit to have a favourable impact on the overall project economics and initial capital expenditure requirements.