Moneta Porcupine (ME.TO) has drill-tested the Halfway target which is located approximately half a kilometer east of the main Windjammer South zone on its Golden Highway project in Timmins, Ontario and the first results are encouraging.
The assay results of the first drill hole (123) were published in December and it looks like this single hole has pierced three distinct layers of mineralization in an attempt to test the southern and up-dip extensions of historical drill holes. With 1.8 meters containing 7.48 g/t gold, 6.5 meters of 1.46 g/t gold and 1.28 meters of 7.79 g/t gold we could say this hole was a successful follow-up hole on hole MJ11-43 which intersected 3.25 meters of 8.87 g/t gold as it now looks the Halfway target indeed hosts some gold-mineralized structures.
A 10,000 meter drill program commended in Q4 and is still ongoing so more assay results should be released early in the new year. A resource update on the South West block has been completed and the overall project resources currently stand at 557,000 ounces of gold in the indicated resource category and 1.17 million ounces in the inferred resource category.
Disclosure: The author has no position in Moneta Porcupine.
