Moneta Gold advances to become one of the top undeveloped gold projects in North America
F
ollowing its successful 2020 drill program, Moneta Gold reports on its progress at the Tower Gold Project, located in Canada’s most prolific gold producing camp: the Timmins camp. Since our last update on the Golden Highway Project in the summer of 2020, Moneta Porcupine – now renamed Moneta Gold – has made huge strides in advancing this exciting project. Now called the Tower Gold Project with the largest land position in the eastern portion of the Timmins Camp with 8.4M
Tower Gold Project. Source: Moneta Gold.
10
ounces of gold (4.0M indicated and 4.4M inferred), the Company is poised to make a huge mark on the Timmins camp. The Project is endowed with established infrastructure including existing roads, powerline, mills, and a local experienced workforce. In December 2020, Moneta updated its mineral resource estimate, which increased mineral resources by 216 per cent year-over-year and added a new underground discovery at Westaway (662,000 ounces). In February 2021, the Company acquired
the adjacent open pit resources at Garrison that increased its mineral resources to 8.4 million ounces from 5.5 million ounces, of which 2.8 million ounces are underground and 5.6 million are open pit. To further expand the mineral resources, one more round of drilling was planned for 2021 to test the extensions of the Westaway underground resource, the extensions and in-pit potential at Windjammer South and 55, the Southwest near-surface resources, the Halfway zone, and the near surface
