MONETA PORCUPINE MINES INC. : http://www.monetaporcupine.com/ : QwikReport
Moneta Porcupine Mines Inc. ("Moneta") is a gold exploration company which holds a 100% interest in five significant gold projects, all strategically located along the prolific Destor Porcupine Fault Zone ("Destor") in the world class Timmins Camp. The Timmins Camp is one of the best mining jurisdictions in the world, with over 75 million ounces of past gold production directly related to the Destor and unmatched infrastructure including paved highway access, water, electricity, skilled labor force, and nearby mills. Our gold projects are located immediately adjacent to significant producing mines, now operated by Porcupine Gold Mines (Goldcorp), Tahoe Resources (previously Lake Shore Gold), Primero Mining (previously Brigus Gold), and Kirkland Lake Gold (previously St Andrew Goldfields).
Moneta's land position covers 200km2 and is one of the largest after three gold producers in the Timmins Camp, and includes the highly prospective Golden Highway Project which covers 12 kilometers of a volcanic/sedimentary belt and contains two branches of the Destor.
The Golden Highway Project hosts a NI 43-101 resource estimate (October 2012) of 4.3 million ounces gold (1,091,200 ounces indicated (31.1 Mt at 1.09 g/t Au) plus 3,203,800 ounces inferred (83.3 Mt at 1.20 g/t Au)) on six of ten distinct gold zones on the property. The property covers 100 square kilometers and is adequate in size to support any necessary milling infrastructure. Preliminary metallurgical testing completed in 2012 that confirmed gold recoveries up to 96.4% in all six gold zones, in conjunction with the fact that the six gold zones included in the NI 43-101 resource estimate are clustered along 4.0km, confirm that the zones would all utilize common infrastructure including a central mill.
The Timmins Camp has first rate infrastructure with excellent off highway access via an extensive network of logging and drilling roads. Communications and power are available along Highway 101 and cell phone coverage extends to the property. A skilled labour force for mining and exploration is available in Matheson, Kirkland Lake and Timmins. Timmins and Kirkland Lake are also major supply and service centers for the mining industry.
The Company is leveraged to gold exploration, with limited overhead and fixed costs and one of the highest ratios of dollars to drilling of any junior explorer. It is operated by a strong technical and management team which maintains a low-cost Timmins-based exploration operation with its own field office, rolling stock and equipment, and proprietary drill core logging and storage facility (core shack).
Moneta was incorporated pursuant to the laws of the Province of Ontario on October 14, 1910 and its common shares trade on the Toronto Stock Exchange ("TSX") under the symbol ME, on the United States OTC market under the symbol MPUCF, and the Berlin Stock Exchange, the Xetra, and Frankfurt Stock Exchange under the symbol MOP. The company is a former gold producer but has no properties currently in production.