News From May 10 - Michaud Drilling ResultsCame across this on Stockwatch and noticed it was not posted here??
Acrex, Moneta drill 2.7 m of 1.04 g/t Au at Michaud
2007-05-10 14:06 ET - News Release
Also News Release (C-ME) Moneta Porcupine Mines Inc
Mr. Malcolm Powell of Acrex reports
ACREX REPORTS MICHAUD JOINT VENTURE ASSAY RESULTS
Acrex Ventures Ltd. and Moneta Porcupine Mines Inc. are releasing preliminary results from the Michaud joint venture drill program conducted in February and March, 2007. The program consisted of five drill holes totalling 1,426 metres completed primarily on the Dyment 3 property acquired by the joint venture in early 2007.
The holes were located 2.5 kilometres along strike to the west of the 55 zone. In 2005, drilling on the 55 zone in this same geologic setting intersected multiple zones of gold mineralization with exceptional intersections noted in four holes: 11.23 grams per tonne (g/t) gold over 1.7 metres in hole MA-05-27; 5.81 g/t gold over 7.4 metres in hole MA-05-30; 10.90 g/t gold over two metres in hole MA-05-31; and 9.04 g/t gold over 5.9 metres in hole MA-05-32, all over drilled widths.
The current program's assay results continued to confirm the pervasive nature of gold mineralization in the Timiskaming sediments in contact with ultramafic volcanics immediately south of the Destor-Porcupine fault zone. This geological setting hosts several nearby discoveries including Moneta's inferred 624,500-ounce Southwest zone, the joint venture's 55 and Western zones, and Newmont Mining's Windjammer South.
DDH From To Width Gold
(m) (m) (m) (g/t)
MA07-35X 85.7 88.4 2.7 1.04
Including 85.7 86.4 0.7 2.08
102.9 103.9 1.0 2.18
117.4 117.6 0.2 2.73
123.1 123.5 0.4 5.04
129.3 130.0 0.7 2.10
206.0 209.2 3.2 1.06
Including 206.0 206.6 0.6 3.12
MA07-39 160.7 161.6 0.9 1.29
167.6 168.3 0.9 1.79
262.9 263.7 0.8 1.31
MA07-40 164.6 165.1 0.5 1.43
MA07-41 95.1 96.6 1.5 4.70
176.3 176.6 0.3 2.01
187.0 187.7 0.7 1.19
MA07-42 181.00 182.00 1.0 1.50
310.90 311.80 0.90 1.30
335.50 335.97 0.47 4.69
The Dyment 3 drill holes were spaced approximately 60 metres apart along the strike of the ultramafic contact, and drill collars were staggered to intersect the targeted sedimentary corridor at depths ranging from approximately 75 to 200 metres. The results reflect quartz and quartz-carbonate veins and stringers of varying widths and orientations, often hosted within larger alteration zones with elevated gold values in the range of 0.25 g/t to 0.5 g/t.
Core samples were split with one-half of the core retained in storage. The other half of the core was sent to Swastika Laboratories in Swastika, Ont., near Kirkland Lake, for sample preparation and assaying using a standard 30-gram fire assay technique. For quality-control purposes, sample batches included a series of blanks and standards, and up to 15 per cent of the samples were run as duplicates at a different assay laboratory.
Dyment 3 consists of three claim units west-southwest of the 55 zone in Michaud township and is under option by the joint venture from St Andrew Goldfields Ltd. requiring expenditures of $150,000 over the four years ending September, 2008, to earn a 75-per-cent interest. The recent program brought total expenditures on Dyment 3 to approximately $160,000 which completes the option.
Future joint venture drilling is planned for the area west of the current drilling between Dyment 3 and the Western zone, and to the east, to evaluate the potential down-dip extension of the 55 zone.
The Michaud joint venture was formed in December, 2004, by Moneta and Acrex to continue exploration on a group of 65 claim units after Acrex completed a $1-million expenditure to earn a 50-per-cent interest in the claim group. The claim group includes the previously discovered 55 zone and the Western zone.