MONETA PORCUPINE MINES INC. : http://www.monetaporcupine.com/ : QwikReport

News Releases

#March 01, 2018
Moneta Intercepts 4.20 M @ 41.08 G/T Gold Including 0.90 M @ 141.50 G/T Gold At The South West Deposit

 Toronto, Ontario -- March 01, 2018 - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce the results from four additional diamond drill holes completed on the South West Deposit ("South West") located within the Company's Golden Highway Project located 110 km east of Timmins, Ontario (Figure 1).

Highlights:
  • Drill hole MGH17-064 intersected 4.20 metres ('m") @ 41.08 grams per tonne gold ("g/t Au") including 0.90 m @ 141.50 g/t Au at a depth of 472.80 m, from a second and new mineralized shoot (SW-2) identified;
  • The second and new shoot is located east of the first shoot (SW-1) drilled in hole MGH17-056 which returned 4.01 m @ 38.33 g/t Au, including 0.96 m @ 144.19 g/t Au reported on 08 February 2018;
  • Drill hole MGH17-063 intersected 7.10 m @ 2.28 g/t Au, including 1.00 m @ 7.72 g/t Au at a depth of 229.90 m from a fourth and new mineralized shoot (SW-4) in the eastern Gap area of South West;
  • Hole MGH17-067 confirmed the up-dip extensions of the central deep array of veins at South West intercepting 2.90 m @ 2.08 g/t Au (Willow) at a depth of 214.10 m and 3.00m @ 2.58 g/t Au (Arbutus) at a depth of 296.00 m
Gary O'Connor, Co-CEO & Chief Geologist commented, "The four latest drill holes from South West have confirmed our new interpretation of the newly recognized mineralized shoots along the main shear plane contact. It is encouraging that drill testing of the second shoot (SW-2) returned assays of up to 4.20m @ 41.08 g/t Au confirming the potential high grade nature of these structures. The South West deposit continues to grow and expand, now covering an area over 800 m in strike length, with current drill results now confirming two new mineralized shoots and up-dip extensions of veins previously drilled at depth. Drilling continues on the South West deposit to expand the number and confirm the grades of the tension vein arrays and mineralized shoots."

The latest assay results are from four drill holes totalling 2,292.00 m of drilling at South West. The ongoing drill program at South West was part of the previously announced exploration drill program undertaken by the Company in late 2017 designed to test higher grade targets on the Golden Highway Project. The program consisted of over 20,000 metres and 50 drill holes and the encouraging results have driven the Company to expand the drill program. Assays for additional drill holes are pending and will be released as they become available.

Please click here for Figure 1: South West Location Map- Golden Highway Project:
http://www.monetaporcupine.com/i/maps/NR-mar12018-fig1.jpg


South West Deposit

The South West drill program has been successful in confirming the existence of new tension veins and shear plane bounded mineralized shoots. The tension vein arrays occur as stacked en échelon veins along the southern margins of an ENE trending shear zone which occurs along the Banded Iron Formation ("BIF") contact. This contact hosts the mineralized shoots or "D" structures which plunge ~65° to the west and occur up to 50m long, 25m wide and have been traced to depths of 400m. The second (SW-2) and fourth (SW-4) mineralized shoots have now been successfully drill tested at South West. Drilling to date has confirmed fourteen NW trending tension veins which dip steeply to the south-west at 70°. The veins have an average width of approximately 3.00 m and are spaced 25 m to 30 m apart. The veins can be traced for up to 350 m strike length, have been drilled to 900 m depth and are open to the south.

The tension veins and stock-work style veining within the shoots at South West occur as quartz-carbonate-pyrite veins within a distinct ankerite alteration halo occasionally associated with sericite. A zone of pyrite-chlorite and quartz veinlets occurs adjacent to the veins and hosts mineralization. The veins can be brecciated and occur as quartz matrix supported breccia zones.

Please click here for Figure 2: South West: Geology and Drill Location Map:
http://www.monetaporcupine.com/i/maps/NR-mar12018-fig2.jpg


South West Drill Results

Drill hole MGH17-064 was designed to test the occurrence of the second mineralized shoots (SW-2) which had been identified and modelled from historical drilling. The hole intersected 4.20m @ 41.08 g/t Au including 1.70 m @ 96.14 g/t Au which includes 0.90 m @ 141.50 g/t Au at a depth of 472.80 m within a wide zone of quartz-carbonate-pyrite veining on the BIF contact. This hole also confirmed the extensions of the Cedar, Pine and Spruce veins near the BIF contact with Spruce assaying up to 0.83 m @ 3.76 g/t Au at a depth of 525.70 m.

Drill hole MGH17-059 was drilled to test the area between the SW-1 and SW-2 mineralized shoots. The hole did intercept the edge of the quartz-carbonate-pyrite veining in SW-2 from 512.00 m and returned 2.00 m @ 2.67 g/t Au but did not intercept the core mineralized portion and confirmed that the shape and plunge of the mineralized structures. The hole also intersected the extensions of the Balsam vein near the BIF contact returning 0.70 m @ 3.13 g/t Au at 490.20 m. 

Drill hole MGH17-063 was drilled to test the occurrence of a fourth mineralized shoot (SW-4) to the east in the Gap area along the same shear zone in contact with the BIF unit. The hole intersected the shoot or "D" structure from 229.90 m as a zone of quartz-carbonate-pyrite veining and returned 7.10 m @ 2.28 g/t Au, including 1.00 m @ 7.72 g/t Au. Historical drilling of this structure at depth had returned 10.00 m @ 7.08 g/t Au in hole MSW11-283 and 1.50 m @ 14.24 g/t Au in hole MSW11-291AX. The assays for the end of hole MGH17-063 on the BIF contact remain outstanding.

Hole MGH17-067 was drilled to test the up-dip extensions of the historical deep intercepts below the central South West area. Two of the modelled veins were intersected at 214.10m for the Willow vein and 294.00 m for the Arbutus vein. The veins assayed 2.90 m @ 2.58 g/t Au and 3.00 m @ 2.58 g/t Au respectively. Historical drilling of the Arbutus vein returned 10.70 m @ 4.81 g/t Au in hole MSW10-162B. Drilling in historical holes of the Willow vein assayed 7.60 m @ 5.16 g/t Au in hole MSW10-273B and 3.10m @ 5.05 g/t Au in hole MSW11-291.

Please click here for Figure 3: South West: Schematic Cross Section:
http://www.monetaporcupine.com/i/maps/NR-mar12018-fig3.jpg


Table 1: Drill Hole Details
Hole Easting Northing Elevation Azimuth Inclination Depth
# mE mN masl ° ° m
MGH17-059 570,650 5,369,342 320 90 -50 702.00
MGH17-063 571,515 5,369,914 334 35 -56 435.00
MGH17-064 570,671 5,369,418 320 90 -50 702.00
MGH17-067 571,265 5,369,682 325 90 -50 453.00
Table 2: South West: Significant Drill Results
Hole From To Length Au Vein
# (m) (m) (m) (g/t) Name
MGH17-059 284.40 284.80 0.40 2.00  
MGH17-059 355.00 356.00 1.00 2.45  
includes 482.00 482.80 0.80 2.32  
MGH17-059 490.20 490.90 0.70 3.13 Balsam
MGH17-059 512.00 514.00 2.00 2.67 SW-2
includes 512.00 513.00 1.00 3.70 SW-2
MGH17-063 129.40 131.60 2.20 2.54 Stkwk
includes 130.00 131.60 1.60 2.83 Stkwk
MGH17-063 229.90 237.00 7.10 2.28 SW-4
includes 233.00 237.00 4.00 3.01 SW-4
Includes 236.00 237.00 1.00 7.72  
MGH17-063 241.55 242.33 0.78 4.02 SW-4
MGH17-063 246.00 247.00 1.00 2.10 SW-4
MGH17-063 264.00 265.00 1.00 2.30 SW-4
MGH17-063 308.00 309.00 1.00 2.07  
includes 311.00 312.00 1.00 3.54  
MGH17-064 472.80 473.70 4.20 41.08 SW-2
includes 472.80 474.50 1.70 96.14 SW-2
includes 472.80 473.70 0.90 141.50 SW-2
MGH17-064 492.80 493.80 1.00 2.30  
includes 495.80 496.80 1.00 2.22  
MGH17-064 525.70 526.70 0.83 3.76 Spruce
MGH17-064 694.87 695.60 0.73 2.52  
MGH17-067 92.65 93.20 1.10 2.32 EB stwk
MGH17-067 200.00 201.00 1.00 2.96 EB stwk
MGH17-067 214.10 217.00 2.90 2.08 Willow
Includes 214.10 216.25 2.15 2.44 Willow
MGH17-067 249.00 250.00 1.00 2.09  
MGH17-067 296.00 299.00 3.00 2.58 Arbutus
MGH17-067 304.42 305.00 1.58 2.19 Arbutus
includes 305.00 306.00 1.00 2.33 Arbutus
MGH17-067 312.00 313.00 1.00 3.40 Arbutus
MGH17-067 336.85 337.35 0.50 2.27  


Intercepts are calculated using a 2.0g/t Au cut-off, maximum of 2m internal waste and no top cap. All intercepts are reported as drill widths.

QA/QC Procedures

All core drilling conducted by Moneta is oriented. Drill core is sawn and half is sent ALS Canada Inc. for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). A 50 g charge is Fire Assayed and analyzed using a AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. Moneta inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates with the samples, as well as completing third-party check assays at Activation Laboratories Ltd. Gary O'Connor, MAusIMM is a qualified person under NI 43-101 and has reviewed and approved the contents of this press release.

About Moneta

The Company holds a 100% interest in 5 core gold projects strategically located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ultramafic/mafic volcanic/sedimentary rocks along the DPFZ hosting a NI 43-101 indicated resource estimate of 1,091,000 ounces (31.1 Mt at 1.09 g/t Au) and 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, Co-CEO
416-357-3319

Ian C. Peres, President & Co-CEO
416-579-3040


The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.
File: http://www.monetaporcupine.com/i/pdf/ME-PR-05-2018.pdf
 1549 KB, approx. 4 minutes, 49 seconds at 56.6Kbps
 
#February 27, 2018
Moneta Intersects 3.00m @ 4.16 G/T Gold Including 1.00m @ 10.30 G/T Gold At The Discovery Deposit

 Toronto, Ontario -- February 27, 2018 - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce the results from two additional diamond drill holes completed on the Discovery Deposit ("Discovery") and four diamond drill holes completed on the LC Deposit ("LC") located within the Company's Golden Highway Project located approximately 110 km east of Timmins, Ontario.

Highlights:
  • Discovery-Contact Zone: Drill hole MGH17-045 intersected 3.00 metres ('m") @ 4.16 grams per tonne gold ("g/t Au") including 1.00 m @ 10.30 g/t Au, at a depth of 595.00 m extending the zone 50 m to depth;
  • Discovery-Contact Zone: Drill hole MGH17-048 extended the Contact Zone another 75 m east intersecting 1.00 m @ 3.16 g/t Au;
  • LC: Drilling extended mineralization 300 m to the east of historical intercepts of 6.71m @ 10.82g/t Au and 6.57m @ 9.53g/t Au with intercepts of up to 1.00 m @ 3.38 g/t Au in hole MGH17-044, 1.00 m @ 2.97 g/t Au in hole MGH17-047, and 0.50 m @ 5.18 g/t Au in hole MGH17-039
Gary O'Connor, Co-CEO & Chief Geologist commented, "The two latest drill holes at Discovery have been successful in extending the Contact Zone by over 50 m to depth and 75 m to the east. At depth, mineralized quartz veins hosting visible gold grains returned 3.00 m @ 4.16 g/t Au including 1.00 m @ 10.30 g/t Au. Similar quartz veining was intercepted in hole MGH17-048 in a 75m step-out to the east. The new drilling extended the mineralization intersected in MGH17-038 of 3.00 m @ 5.24g/t Au, including 1.00 m @ 10.75 g/t Au in the Contact Zone. The drill holes have increased the size potential of the Contact Zone. Previous results released on January 16, 2018 from the 2017 drill program confirmed the size potential of the Upper Zone with mineralization reported over 15 m widths which was not targeted in these drill holes. Future drilling will focus on expanding the Upper Zone which has now been traced for over 500 m. The four holes completed at LC extended mineralization by 300 m to the east at LC, intercepting 1.00 m@ 3.38 g/t Au. We continue to be encouraged by the good results returned from our drill program to test higher grade targets on our Golden Highway Project."

The latest results are from two drill holes totalling 1,270.00 m of drilling at Discovery and four holes totalling 1,509.00 m at LC. The Discovery holes were designed to test the extensions of high grade gold mineralization along the Contact Zone at depth by 50 m and to the east by 75m with step-out holes. The LC holes were designed to test for gold mineralization on the contact of the LC mineralized syenite intrusion over a 300 m strike length, east of previous drilling. The drilling was part of the drilling program conducted by Moneta in late 2017 on the Golden Highway Project. The program consisted of over 20,000 m and 50 drill holes and the encouraging results have driven the Company to expand the drill program. Assays for additional drill holes are pending and will be released as they become available.

Please click here for Figure 1: Discovery and LC Location Map- Golden Highway Project:
http://www.monetaporcupine.com/i/misc/2018-02-27_NR-Fig1.jpg

Discovery Deposit

The Discovery Area (see Figure 1) includes the mineralized Upper Zone and Contact Zone and is located on a southern splay of the Destor Porcupine Fault Zone (DPFZ) and hosted within altered komatiitic ultramafic rocks of the Kidd-Munro assemblage to the north and the sheared fault contact with conglomerate and greywacke units of the Timiskaming age sedimentary rocks to the south. The depth and eastern strike extensions of the Contact Zone, which were the target of the MGH17-045 and MGH17-048 drill holes, occur as a faulted contact and dip steeply to the north (~80°). The host rocks have been intruded by a series of roughly ENE (070°) trending steeply south dipping Timiskaming age quartz feldspar-syenite porphyry (QFP) to lamprophyre porphyry dykes spatially associated with quartz vein hosted gold mineralization. The mineralization at Discovery occurs outside of the current NI 43-101 resource.

Discovery: Drill Results

Drill hole MGH17-045 intersected 3.00 m @ 4.16 g/t Au, including 1.00 m @ 10.30 g/t Au, at a depth of 595.00 m. The intercept extended the Contact Zone 50m deeper than hole MGH17-38 which intersected 3.00 m @ 5.24g/t Au, including 1.00 m @ 10.75g/t Au at a depth of 558.0m.

Drill hole MGH17-048 was drilled to test the eastern extensions of the Contact Zone 75 m east of hole MGH17-041 which intersected the zone over a width of more than 20 m and 125 m east of hole MGH17-038 which returned 1.00 m @ 10.75g/t Au. The hole intersected quartz-pyrite veining adjacent to the contact and returned 1.00 m @ 3.16 g/t Au at a depth of 486.00 m.

The Upper Zone was not targeted in the current two drill holes.

Please click here for Figure 2: Discovery: Geology and Drill Location Map:
http://www.monetaporcupine.com/i/misc/2018-02-27_NR-Fig2.jpg

Please click here for Figure 3: Discovery: Contact Zone Schematic Cross Section:
http://www.monetaporcupine.com/i/misc/2018-02-27_NR-Fig3.jpg


LC: Drill Results

The drilling at LC was designed to test 300 m of strike length along the ultramafic contact with the deeper of two SE dipping syenite feldspar porphyry intrusive bodies east of previous drilling which had returned 6.71 m @ 10.82 g/t Au in hole MU-89-126 and 6.57 m @ 9.53g/t Au in hole MU-89-108. The holes intersected the porphyry unit which displayed the same distinctive albite-pyrite alteration associated with quartz-pyrite veining and returned assays of up to 1.00 m @ 3.38 g/t Au in hole MGH17-044, 1.00 m @ 2.97 g/t Au in hole MGH17-047, and 0.30 m @ 5.18 g/t Au in hole MGH17-039 confirming the potential size of the mineralized system. The LC drilling also occurred outside of the current NI 43-101 resource estimate.

Table 1: Discovery and LC- Significant Drill Results
Deposit Hole From To Length Au
Name # (m) (m) (m) (g/t)
Discovery MGH17-045 457.29 457.96 0.67 2.46
Discovery MGH17-045 593.10 600.00 6.90 2.30
  includes 595.00 598.00 3.00 4.16
  includes 595.00 596.00 1.00 10.30
Discovery MGH17-048 240.00 241.00 1.00 2.56
Discovery MGH17-048 486.00 487.00 1.00 3.16
LC MGH17-039 264.60 266.50 2.20 1.91
  Includes 266.20 266.50 0.30 5.18
LC MGH17-044 140.00 141.00 1.00 3.38
LC MGH17-047 139.00 140.00 1.00 2.97
LC MGH17-047 146.00 147.00 1.00 2.02
LC MGH17-047 172.60 173.50 0.90 2.11

Intercepts are calculated using a 2.0g/t Au cut-off, maximum of 2m internal waste and no top cap. All intercepts are reported as drill widths.

Table 2: Discovery and LC- Drill Hole Details
Hole Easting Northing Elevation Azimuth Inclination Depth Deposit
# mE mN masl ° ° m Name
MGH17-045 571,907 5,371,201 333 158 -62 636.00 Discovery
MGH17-048 572,021 5,371,180 332 159 -62 634.00 Discovery
MGH17-039 568,469 5,369,564 348 345 -63 345.00 LC
MGH17-043 568,303 5,369,568 335 351 -60 351.00 LC
MGH17-044 568,224 5,369,460 410 411 -55 411.00 LC
MGH17-047 568,151 5,369,384 403 402 -58 402.00 LC

QA/QC Procedures

All core drilling conducted by Moneta is oriented. Drill core is sawn and half is sent ALS Canada Inc. for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). A 50 g charge is Fire Assayed and analyzed using a AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. Moneta inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates with the samples, as well as completing third-party check assays at Activation Laboratories Ltd. Gary O'Connor, MAusIMM is a qualified person under NI 43-101 and has reviewed and approved the contents of this press release.

About Moneta

The Company holds a 100% interest in 5 core gold projects strategically located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ultramafic/mafic volcanic/sedimentary rocks along the DPFZ hosting a NI 43-101 indicated resource estimate of 1,091,000 ounces (31.1 Mt at 1.09 g/t Au) and 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, Co-CEO
416-357-3319

Ian C. Peres, President & Co-CEO
416-579-3040


The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.
File: http://www.monetaporcupine.com/i/pdf/ME-PR-04-2018-with-maps.pdf
 812 KB, approx. 2 minutes, 32 seconds at 56.6Kbps
 
#February 08, 2018
Moneta Intersects 1.63m @ 1,078.43 G/T Gold And 4.01m @ 38.33g/T Gold At The South West Deposit

 Toronto, Ontario -- February 08, 2018 - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce the results from five additional diamond drill holes completed on the South West Deposit ("South West") located within the Company's Golden Highway Project located approximately 110 km east of Timmins, Ontario (Figure 1).

Highlights:
  • Drill hole MGH17-062 intersected 1.63 metres ('m") @ 1,078.43 grams per tonne gold ("g/t Au") including 0.50 m @ 3,510.00 g/t Au, from a NW trending vein at a depth of 270.12 m in the western area;
  • MGH17-056 returned 4.01 m @ 38.33 g/t Au, including 0.96 m @ 144.19 g/t Au and 1.00 m @ 9.45g/t Au, at a depth of 441.50 m in a new mineralized shoot;
  • MGH17-066 intersected 3.00 m @ 7.16 g/t Au, including 1.00 m @ 14.10 g/t Au at a depth of 393.00m;
  • MGH17-060 intersected 2.16 m @ 6.7 2g/t Au at 511.58 m;
  • Holes MGH17-058, MGH17-060 and MGH17-066 confirmed the up-dip extensions of the newly identified eastern array of veins;
  • MGH17-056 also intersected the Balsam, Cedar, Pine and Spruce veins in the central area, returning 1.50 m @ 5.65 g/t Au, including 0.80 m @ 8.85 g/t Au from the Spruce vein at 545.50 m;
Gary O'Connor, Co-CEO & Chief Geologist commented, "The five latest drill holes have confirmed our new understanding at South West where additional well mineralized vein arrays were identified both west and east of the previously announced central area veins. This recent program has added several new vein occurrences and confirmed the up-dip potential from previously drilled veins at depth. The new drilling has also confirmed the occurrence of well mineralized shoots along the shear plane which occur on the Banded Iron Formation contact. The latest results include the highest assay returned to date from the Golden Highway Project of 0.50 m @ 3,510.00 g/t Au. These results are encouraging and indicate a much larger vein system than previously known, now covering an area over 800m wide. We will continue to drill the South West deposit to expand the size and confirm the grades."

The latest results are from five drill holes totalling 2,642.00 metres of drilling at South West designed to confirm and expand our new geological interpretation of the deposit, testing new zones of mineralization. The ongoing drill program continued to test high grade targets as part of the previously announced exploration drill program undertaken by the Company in late 2017 on the Golden Highway Project. The program consisted of over 20,000 metres and 50 drill holes and the encouraging results have driven the Company to expand the drill program. Assays for additional drill holes are pending and will be released as they become available.

Figure 1: South West Location Map- Golden Highway Project

South West Deposit

The ongoing drill program at South West was successful in confirming the existence of new vein arrays which were identified during the re-interpretation of the geology and mineralization in Q3, 2017 utilizing 241 historical drill holes totalling 94,127 metres of core. The NW trending and steeply SW dipping tension vein arrays occur as stacked en échelon veins along the southern margins of an ENE trending shear zone which occurs along the Banded Iron Formation (BIF) contact. Modelling to date has identified up to seven NW trending veins which dip steeply to the south-west at 70° in the central area as well as several new veins west of the Main Fault and up to eight additional new veins in the eastern area (Gap). The veins have an average width of approximately 3m and are spaced 25 m to 30 m apart. The veins occur within clastic greywacke sediments of Timiskaming age, and can be traced for up to 350 m strike length and are open to the south.

The central and eastern area vein sets have been historically drill tested to depths of up to 900 m. The new drilling in the eastern area was testing the up-dip extensions of previously drilled veins at depth. The extent of veining now occurs across an area over 800 m wide. The modelling and drill testing of the currently known and newly tested veins is continuing.

The current drilling also tested the existence of the three steeply dipping (~60° to 65°) mineralized shoots identified to date which occur along the bounding shear plane that occurs at the BIF contact to the north of the modelled veins. The shoots, or "D" structures, have been modelled and confirmed in drilling and occur as zones of strong quartz-carbonate-pyrite veining up to 50 m in length and up to 25 m wide, have been drilled to depths of 800 m and are open at depth.

The veins at South West occur as quartz-carbonate-pyrite veins occur within a distinct ankerite alteration halo occasionally associated with sericite. A zone of sulphide(pyrite)-chlorite and quartz veinlets occurs adjacent to the veins and hosts mineralization. The veins can be brecciated and occur as quartz matrix supported breccia zones.

Figure 2: South West: Geology and Drill Location Map

Drill Result Discussion

Drill hole MGH17-056 was designed to test for the occurrence of mineralized shoots which had been identified and modelled from historical drilling. The hole intersected a wide zone of quartz-carbonate-pyrite veining occurring on the BIF contact and returned 4.01 m @ 38.33 g/t Au, including 0.96 m @ 144.19 g/t Au and 1.00 m @ 9.45 g/t Au from a depth of 441.50 m. This hole also confirmed the Balsam, Cedar, Pine and Spruce veins with assays of up to 1.50 m @ 5.65 g/t Au, including 1.00 m @ 8.85 g/t Au, at 545.00 m depth from the Spruce Vein.

Drill hole MGH17-062 was drilled to test for NW trending veins west of the Main Fault. The drill hole intersected up to 4 veins including one which returned 1.63 m @ 1,078.43g/t Au, including 0.50 m @ 3,510.00 g/t Au, at a depth of 270.12 m.

Drill holes MGH17-058, MGH17-060 and MGH17-066 were drilled in the eastern area of South West. These holes were designed to test for the up-dip extensions of veins previously intersected at depth below the central area. The drilling intersected up to 8 new veins with results returned up to 3.00 m @ 7.16 g/t Au, including 1.00 m @ 14.10 g/t Au at 393.00 m depth and 2.16 m @ 6.72 g/t Au at a depth of 511.58 m.

Figure 3: South West: Schematic Cross Section


Table 1: South West: Significant Drill Results


Table 2: Drill Hole Details

QA/QC Procedures

All core drilling conducted by Moneta is oriented. Drill core is sawn and half and is sent to ALS Canada Inc. for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). A 50 g charge is Fire Assayed and analyzed using a AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. Moneta inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates with the samples, as well as completing third-party check assays at Activation Laboratories Ltd. Gary O'Connor, MAusIMM is a qualified person under NI 43-101 and has reviewed and approved the contents of this press release.

About Moneta

The Company holds a 100% interest in 5 core gold projects strategically located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ultramafic/mafic volcanic/sedimentary rocks along the DPFZ hosting a NI 43-101 indicated resource estimate of 1,091,000 ounces (31.1 Mt at 1.09 g/t Au) and 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, Co-CEO
416-357-3319

Ian C. Peres, President & Co-CEO
416-579-3040
The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.
File: http://www.monetaporcupine.com/i/pdf/ME-PR-03-2018.pdf
 1596 KB, approx. 4 minutes, 58 seconds at 56.6Kbps
 
#January 18, 2018
Moneta intersects all veins in new South West interpretation, returns up to 3.0m @ 7.13g/t Gold and 3.0m @ 7.01g/t Gold

 Toronto, Ontario -- January 18, 2018 - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta or the "Company") is pleased to announce that it has completed the first drill hole (MGH17-051) to test the new structural interpretation of the South West target located within the Company's Golden Highway Project located approximately 110km east of Timmins, Ontario (Figure 1).

Highlights:
  • Drill hole MGH17-051 intersected all 6 veins (i.e. Spruce, Pine, Cedar, Balsam, Birch, Elm), modelled in the new interpretation of a stacked array of en-échelon veins at South West and intersected an additional 7+ new veins;
  • MGH17-051 intersected 3.00m @ 7.13g/t Au from the Cedar vein within a zone of 4.0m @ 5.84g/t Au from 565.0m and 3.0m @ 7.01g/t Au from the Pine Vein at 636.0m;
  • The other 4 veins returned significant intercepts: Elm: 2.0m @ 2.67g/t Au at 440.0m, Birch: 1.0m @ 4.81g/t Au from 478.0m, Balsam: 1.0m @ 2.19g/t Au at 528.0m, Spruce: 2.0m @ 2.24g/t Au at 645.0m;
  • The drill hole intersected a possible 7th vein (Tamarack?) at a depth of 369.0m intersecting 2.30m @ 5.03g/t Au (including 1.0m @ 7.05g/t Au) west of Elm;
  • MGH17-051 intersected 7 other veins that have not been modelled which returned up to 1.10m @ 3.81g/t Au at 410.0m, 2.50m @ 2.49g/t Au at 426.0m and 3.10m @ 2.70g/t Au from 478.0m
"During 2017 the Company completed an extensive re-interpretation of mineralization previously intersected at South West. The program resulted in the recognition and modelling of an array of stacked en échelon NW trending, SW steeply dipping, quartz-carbonate-pyrite veins. Initial modelling has been completed on 6 of these veins. The first hole to test this new interpretation has confirmed the existence, location and grades of the 6 interpreted veins with several additional veins also being intersected. We are encouraged by the results and will continue to drill test the potential size and gold tenor of the South West vein system" commented Gary O'Connor, Co-CEO & Chief Geologist.

The South West drill program is part of the previously announced 2017 exploration drill program undertaken by the Company to test higher grade targets on the Golden Highway Project which consisted of over 20,000m and 50 drill holes. Drill hole MGH17-051 was the first drill hole designed at South West to drill test the 6 new modelled veins as part of an 8,500m program in 14 holes. The significant results returned from hole MGH17-051 are included in Table 1 and figures showing the location of the hole on cross section (Figure 2). Long sections for each of the 6 veins with "grade-thickness" colour contours generated from over 60 historical drill holes with the pierce points of hole MGH17-051 are included (Figure 3, Figure 4 and Figure 5). The encouraging results will result in the expansion of the drill program. Assays for other drill holes are pending and will be released as they become available.



South West Area
The re-interpretation of the mineralization at South West, utilizing 241 historical drill holes comprised of 94,127m of core, resulted in the interpretation of a tension vein array occurring as stacked en échelon veins within an ENE trending shear zone. Modelling to date has identified six NW (310°) trending veins which dip steeply to the south-west at 70°, have an average width of approximately 3m to 4m and are spaced 25m to 30m apart. The veins occur south of the main banded iron formation in the central block at South West within clastic greywacke sediments of Timiskaming age and can be traced for up to 350m and are open to the south. A new and possibly 7th vein (Tamarack?) was intersected west of Elm Vein at a depth of 369.0m and returned 2.30m @ 5.03g/t Au (including 1.0m @ 7.05g/t Au) in addition to several other new veins.

Modelling of the veins has been conducted down to 350m to 400m and historical drilling of the veins has been completed as deep as 900m. The deeper extensions of the veins have not been modelled due to the amount of drilling however the individual veins can be traced to depth. Additional NW trending veins have been identified from historical drilling and are currently being modelled and drill tested. Additional vein sets trending 340° (NNW) and dipping to the west have also been identified as have riedel shear veins trending ~NE and dipping to the north. Steeply dipping mineralized shoots have also been recognised along the north bounding shear plane which occurs at the BIF contact. These are also currently being interpreted, modelled and drill tested.

The quartz-carbonate-pyrite veins occur within a distinct ankerite alteration halo occasionally associated with sericite. A zone of sulphide(pyrite)-chlorite and quartz veinlets occurs adjacent to the veins and hosts mineralization. The veins can be brecciated and occur as quartz matrix supported breccia zones.













QA/QC Procedures
All core drilling conducted by Moneta is oriented. Drill core is sawn and half is sent for drying and crushing to -2mm, with a 1kg split pulverized to -75µm (200#). A 50g charge is Fire Assayed and analyzed using a AAS finish for Gold. Samples above 10g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1kg sample. Moneta inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates with the samples, as well as completing third-party check assays at a second laboratory. Gary O'Connor, MAusIMM has reviewed and approved the contents of this press release.

About Moneta
The Company holds a 100% interest in 5 core gold projects strategically located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ultramafic/mafic volcanic/sedimentary rocks along the DPFZ hosting a NI 43-101 indicated resource estimate of 1,091,000 ounces (31.1 Mt at 1.09 g/t Au) and 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, Co-CEO
416-357-3319

Ian C. Peres, President & Co-CEO
416-579-3040

The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.
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#January 16, 2018
Moneta drilling returns up 14.88m @ 3.35g/t Gold and 3.0m @ 5.24g/t Gold at Discovery Area

 Toronto, Ontario -- January 16, 2018 - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce the results of the first three drill holes of a five hole program drilled in the Discovery Area as part of the 2017 drill program on the Golden Highway Project, located 110km east of Timmins in Ontario. The Discovery Area is located outside of the December 2012 NI 43-101 gold resource.

Highlights:

  • Upper Zone: Drill hole MGH17-037 returned assays of up to 32.87m @ 2.71g/t Au from 338.13m (including 14.88m @ 3.35g/t Au at 339.0m and 10.0m @ 2.89g/t Au at 357.0m) and 1.60m @ 6.04g/t Au from 273.40m in hole MGH17-038;
  • Contact Zone: Drilling has returned up to 3.0m @ 5.24g/t Au (including 1.0m @ 10.75g/t Au) from drill hole MGH17-038 at a depth of 558.0m;
  • Drilling of the upper quartz veining and breccia zones at the Discovery Area confirmed wider widths 50m east of 2014 drilling that assayed up to 11.2m @ 5.44g/t Au;
  • Drill results have extended the high-grade gold at the sediment-ultramafic Contact Zone, 50m to the east at depth where 2014 drilling returned 7.20m @ 6.24g/t Au.

"The results from the first three drill holes drilled in the Discovery Area are the first of a series of drilling results from our 2017 drill program to released. We are encouraged by the Discovery Area drill results as they have confirmed and expanded our new interpretation of an array of steeply south dipping gold mineralized quartz veins and breccia zones associated with intrusive dykes at shallow depths linking to deeper zones of gold mineralization along the sediment-ultramafic contact. Known mineralization was extended by over 100m in the two zones within the Discovery Area and has now extended mineralization to over 500m of strike length. The results of the final two drill holes will enable the Company to finalize future drill plans for delineating the zones of mineralization," commented Co-CEO and Chief Geologist, Gary O'Connor.

During the final quarter of 2017, Moneta completed five diamond drill holes in the Discovery Area for a total of 3,116.6m as part of the Company's 2017 exploration drill program which consisted of over 20,000m drilled in more than 50 drill holes, in total. The significant assay results for three of the five holes completed are included in Table 1 below and the drill locations are shown in Figure 2. Details of the drill holes are included as Table 2. The assay results for the final two drill holes (MGH17-045 and MGH17-048) of the five drill hole program at Discovery Area are pending.

Discovery Area
The Discovery Area (see Figure 1) includes an Upper Zone and Contact Zone and is located on a southern splay of the Destor Porcupine Fault Zone (DPFZ) and hosted within altered komatiitic ultramafic rocks of the Kidd-Munro assemblage to the north and the sheared fault contact with greywacke units of the Timiskaming age sedimentary rocks to the south. The faulted contact dips steeply to the north (~80°) in this area. The host rocks have been intruded by a series of roughly ENE (070°) trending steeply south dipping Timiskaming age quartz feldspar, syenite to lamprophyre porphyry dykes (QFP) spatially associated with quartz vein hosted gold mineralization.

Figure 1: Discovery Area - Golden Highway Project Location Map

Figure 2: Discovery Area: Drill Location Map

Discovery Area - Upper Zone
To the north the Discovery Area hosts a series of steeply south dipping interconnecting zones of strong quartz veining, including stock-work veining and brecciation, occurring along structures associated with the QFP dykes within altered ultramafic to mafic units. The veining has been traced for over 500m strike length with a total vertical height of over 400m. The south dipping zones of mineralization occur over aggregate widths of over 80m, averaging 35m. The individual mineralized zones dip at the same orientation as the DPFZ and are noted by chlorite-pyrite alteration. An interpretative section (Figure 3) shows the structural setting of the upper zone and significant drill results are included in Table 1.

Drill hole MGH17-037 extended the known mineralization to the east and returned 14.88m @ 3.35g/t Au from a depth of 339.0m (including 1.69m @ 6.19g/t Au at 344.50m and 1.88m @ 7.65g/t Au at 352.0m) in drill hole MGH17-37 within a wider zone of 32.87m @ 2.71g/t from 338.12m depth. This occurs 25m east of previous hole MGH13-100 (14.80m @ 3.44g/t Au).

Drilling of the Upper Zone in hole MGH17-038 intersected three zones of 3.0m @ 2.16g/t Au at 131.5m, 1.58m @ 2.48g/t Au from 142.65m and 1.60m @ 6.04g/t Au at 273.40m, located 50m east of hole MGH17-037. The mineralization on this section is confined to more narrow structures. Drill hole MGH17-041 was drilled under and to the north of the extensions of the Upper Zone.

Figure 3: Discovery Area - Upper Zone: Cross Section

Discovery Area - Contact Zone
The deeper Contact Zone to the south is connected to and linked with the Upper Zones and dips steeply to the north (see Figure 4, interpretive cross section) and occurs associated with and parallel to the sediment-ultramafic contact trending ~070° (ENE). The deeper zones also occur as gold mineralized quartz veining, stock-work and breccias often with altered QFP clasts. The mineralization is associated with pyrite-chlorite and ankerite alteration within the sediments. These zones are narrower (5m to 20m) and potentially higher grade. The deeper zone has been traced for ~200m strike length.

Results from drill hole MGH17-038 in the Contact Zone returned results of up to 5.0m @ 3.73g/t Au at 558.0m including 3.0m @ 5.24g/t Au from 558.0m (including 1.0m @ 10.75g/t Au at 558.0m) located south of the contact within the sediments in contact with a late gabbro dyke. This zone is located some 50m below and to the east of historical hole MGH13-089 (7.2m @ 6.29g/t Au). This zone is interpreted as a second and related gold zone. Hole MGH17-037 was drilled 50m west and above hole MGH13-089 and did not intersect the western extensions of the Contact Zone.

Drill hole MGH17-041 intersected a large zone (20m) of quartz veining adjacent to the contact associated with chlorite-pyrite alteration hosted in ankerite altered ultramafic units from 555.0m to 575.0m depth and returned assays of 2.0m @ 2.30g/t Au at 559.0m, 1.0m @ 2.39g/t Au from 563.0m and 0.70m @ 2.10g/t Au at 572.40m. This quartz vein zone is interpreted to be the eastern extension (50m) of the zone intersected in hole MGH13-089.

Drill hole MGH17-045 tested the Contact Zone another 50m deeper than MGH17-038 on the same section and drill hole MGH17-048 was drilled another 50m to the east and north of MGH17-041. The assay results from these two holes are pending. Future drill plans to delineate the zones of mineralization at Discovery Area will be made upon receipt of these assay results.

Figure 4: Discovery Area - Contact Zone: Cross Section

Table 1: Discovery Area: Significant Drill Results

Table 2: Discovery Area: Drill Hole Details

QA/QC Procedures
All core drilling conducted by Moneta is oriented. Drill core is sawn and half sent for drying and crushing to -2mm, with a 1kg split pulverized to -75µm (200#). A 50g charge is Fire Assayed and analyzed using a AAS finish for Gold. Samples above 10g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1kg sample.  Moneta inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates with the samples, as well as completing third-party check assays at a second laboratory. Gary O'Connor, MAusIMM has reviewed and approved the contents of this press release.

About Moneta
Moneta holds a 100% interest in 5 core gold projects strategically located along the Destor-Porcupine Fault Zone within the Timmins Gold Camp which has over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, Kayoram and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ultramafic/mafic volcanic/sedimentary rocks along the DPFZ hosting a historical NI 43-101 indicated resource estimate of 1,091,000 ounces (31.1 Mt at 1.09 g/t Au) and 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, Co-CEO
416-357-3319

Ian C. Peres, President & Co-CEO
416-579-3040


The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at .

This news release includes certain forward-looking statements concerning the closing of the Offering, the use of proceeds of the Offering, future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.

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