good drill result for 283
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Press ReleaseSource: Moneta Porcupine Mines Inc.On Thursday June 16, 2011, 9:29 am
TIMMINS, ON, June 16, 2011 /CNW/ - Moneta Porcupine Mines Inc. (TSX: ME / OTC: MPUCF / XETRA: MOP)("Moneta") announces results from its ongoing 2011 exploration drill program in the100% owned Golden Highway Project, 100km east of Timmins, Ontario.
Drill hole MSW11-283 ("283") intersected 5.15 g/t Au over 14.3 metres within a broader goldalteration zone grading 1.06 g/t Au over 117.7 metres. Follow-updrilling is underway to expand the mineralization which is open in alldirections within this very large and expanding gold system.
Ian C. Peres, President and CEO, commented "The 283 results, with thehigh grade and a consistent gold tenor, indicate new gold zonepotential in an area that has seen very limited drilling. This is thefirst of several high priority areas to be drill tested in the 2011drill program. With several near-surface, drill-ready target areas andall three drills now dedicated to the Golden Highway Project, there isexcellent potential for additional discoveries and an expansion ofexisting gold resources."
Drill hole 283 is located in the Gap Area, a largely untested area 800metres directly along strike of the iron formation between theSouthwest Zone and Windjammer South gold zones. Drilling targetedrecently interpreted north to northwesterly structures which cross theeast-westerly trending iron formation and its (south) hanging wallsediments. The mineralized interval is hosted in a variably intenseankerite alteration zone with quartz and quartz carbonate stringers andlocally elevated pyrite.
Please click on the following link to see a map of the location of Hole283 in Moneta's Golden Highway Project:
https://www.monetaporcupine.com/i/pdf/2011-06-16_NRM2.pdf