Resource World Magazine

J U N E / J U L Y 2 0 1 8 www.resourceworld.com 31 Moneta Porcupine proving Timmins Camp still has discovery potential by David Duval With more than 85 million ounces of gold produced over the past century, it's not hard to understand why companies like Moneta Porcupine Mines Inc. [ME-TSX; MPUCF-OTC; MOP-FSE] are focusing their exploration activities on historically pro- spective regions like the Timmins Gold Camp in northern Ontario. Being within sight of a mine headframe has long been a winning exploration strat- egy in this prolific gold camp where mine output has shifted from more traditional underground sources to volume-based sur- face mining of lower grade gold ores. Moneta's current exploration and development strategy remains focused on its Golden Highway Project 35 km east along Highway 101 from Matheson where exploration expenditures over the last three years reached $7.1 million – more than 80% of which was spent in 2017. During that year the company conducted drill testing of several mineralized targets, with up to six rigs completing a total of 40,911.22 metres in 73 holes, including three drill hole extensions (wedges). The Golden Highway property, which captures 12 km of the Destor Porcupine Fault Zone Corridor – one of the most pro - lific Archean gold-bearing structures in the world, is accessed by an extensive network of logging and drilling roads. The current NI 43-101 resource for the property spans only 4 km of the corridor and is found pri - marily within sedimentary host rocks along a southern splay of the Destor fault. In March 2018, Moneta announced results from four additional drill holes that tested the South West deposit. Drill hole MGH17-064 intersected a spectacular 4.20 metres grading 41.08 g/t gold, including 0.90 metres averaging 141.50 g/t at a depth of 472.80 metres within a new mineralized ore shoot. The company says resource growth potential exists along the remaining 8 km of largely untested mafic volcanic rocks along the Destor in contact with ultramafic units where limited historical drilling has already confirmed gold mineralization. The main unconformity, which occurs as the mafic volcanic-sediment contact, also remains largely untested. The Destor is associated with most of the historic gold production in the region including significant producing gold mines now operated by Porcupine Gold Mines (Goldcorp), Tahoe Resources, McEwen Mining (formerly Primero Mining), and Kirkland Lake Gold. In the vicinity to the east are Kirkland Lake Gold's Holloway and Holt Mines and Osisko's Golden Bear Project. In addition to the Destor fault, there are several other documented and interpreted structures in the area that remain to be tested. Moneta's land position in the Timmins region includes a commanding position in the emerging Golden Highway Camp, with the company reporting a resource contain - ing 1.09 million ounces (31.1Mt at 1.09 g/t gold) indicated and 3.20 million ounces (88.3Mt at 1.20 g/t gold) inferred in the Golden Highway Project area. Moneta maintains a large land holding in Porcupine Camp, including gold prop- erties North Tisdale, Nighthawk Lake, Kayorum, and Denton. Additional prop- erties with strategic value are historical base metal projects and include Loveland Nickel (Ni), Kamiskotia (Cu/Zn), and Fripp (Cu). Moneta also has a 50% stake in the Garrison JV with Kirkland Lake Gold [KL-TSX, NYSE] in the Golden Highway Camp. n MINING C a l l ( 8 0 0 ) 9 2 6 - 6 5 7 5 fo r yo u r s p e c i a l offe r SPROTT NATURAL RESOURCE SYMPOSIUM Vancouver | July 17- 20 2018

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