Toronto, Ontario, Jan 26, 2022 (Newsfile Corp via COMTEX) -- Toronto, Ontario--(Newsfile Corp. - January 26, 2022) - Moneta Gold Inc. (otcqx:MEAUF) (xetra:MOP) ("Moneta") /zigman2/quotes/209414531/delayed CA:ME 0.00% is pleased to announce partial assay results from twelve (12) drill holes at Windjammer Central, from the Golden Highway area of the Tower Gold project, located 100 kilometres ("km") east of Timmins, Ontario. The drilling is part of the 2020/2021 72,500 metre ("m") program in 130 drill holes designed to test extensions of the current mineral resource estimate of 4.0 million ("M") ounces indicated gold and 4.4M ounces inferred gold ( see ) on the Tower Gold project. Additional holes and assays from this drill program remain pending.
This drilling successfully intersected gold mineralization over a strike length of 1,500 m and a width of 300 m to the north of the Windjammer South open pit gold resource within the Windjammer Central area. Today's results confirm significant extensions of gold mineralization to the current gold resource at Windjammer South in an area with no historical resources.
Highlights from the drilling include:
MGH21-244 intersected 162.65 m @ 0.64 grams per tonne "g/t" gold "Au", including 30.00 m @ 0.91 g/t Au, 6.00 m @ 1.58 g/t Au, and 3.00 m @ 2.19 g/t Au
MGH21-263 intersected 108.00 m @ 0.70 g/t Au, including 18.00 m @ 1.55 g/t Au, including 2.00 m @ 6.79 g/t Au
MGH21-259 intersected 96.00 m @ 0.64 g/t Au, including 23.15 m @ 1.09 g/t Au, including 3.00 m @ 2.96 g/t Au
MGH21-237 intersected 5.00 m @ 3.01 g/t Au, including 1.00 m @ 14.80 g/t Au
MGH21-237 intersected 105.00 m @ 0.42 g/t Au, including 87.00 m @ 0.50 g/t Au
MGH21-263 intersected 46.00 m @ 0.44 g/t Au, including 22.00 m @ 0.53 g/t Au, including 2.00 m @ 1.15 g/t Au
MGH21-244 intersected 37.00 m @ 0.47 g/t Au, including 12.00 m @ 0.94 g/t Au, including 2.00 m @ 2.03 g/t Au and 2.00 m @ 2.02 g/t Au
Gary O'Connor, Moneta's Chief Executive Officer, commented, "These latest drill results have confirmed significant gold mineralization in an area not previously drill tested and beyond the current gold resources. The Windjammer Central exploration drilling program was testing for gold mineralization over a large area located within the current economic open pit at Windjammer South, north of the regional Banded Iron Formation, and the new discovery has the potential to significantly improve the economics of the open pit. We look forward to releasing the remaining outstanding drill results when they become available and updating the mineral resource estimate for the Tower Gold project in the first half of 2022."
The latest assay results from the Windjammer Central resource expansion drill program include assay results from twelve (12) new drill holes, for a total of 6,488.0 m. Additional results from these holes are still pending. The drill program was conducted to test a large area to the north of the Windjammer South resource, within the economic open pit in an area with little historical drilling. The Windjammer South open pit gold deposit currently hosts 1.10 Moz gold at a grade of 0.84 g/t gold in indicated resources and 1.03 Moz at a grade of 1.10 g/t gold in the inferred category at a cut-off grade of 0.30 g/t gold ( see ). Full assays from an additional 38 drill holes for 16,401 m from the drill program remain pending.
Figure 1: Tower Gold Project: General Location Map
To view an enhanced version of Figure 1, please visit:
Table 1: Windjammer Central: Selected Significant Drill Results
Intercepts are calculated using a 0.20 g/t Au cut-off, a maximum of 3m internal dilution and no top cap applied. Drill intercepts are not true widths, are reported as drill widths, and are estimated to be 80% to 95% of true width.
Figure 2: Windjammer Central Drill Program: Drill Hole Location Map
To view an enhanced version of Figure 2, please visit: