MONETA PORCUPINE MINES INC. : http://www.monetaporcupine.com/ : QwikReport
Kayorum
The Kayorum property covers several patents and leases including the past producing Moneta Mine (149,250 oz.@ 0.47 oz/t) for a total of 52 units, all within the south-western portion of the City of Timmins. Kayorum is directly south and southwest of the Hollinger Mine currently being evaluated by Porcupine Gold Mines (Goldcorp) for its open pit and bulk underground mining potential.
Moneta has had several significant option agreements on Kayorum including Cogema, Cameco, and the former Porcupine Joint Venture (now Goldcorp). Several drill programs (30 holes for 15,710m) as well as geological mapping, lithogeochemistry, and ground geophysics (IP, magnetic, and gravity) have been completed. Best results to date include 193 g/t gold over 0.3m in a narrow quartz-tourmaline-pyrite vein, 9.27 g/t over 0.75m, 6.76 g/t over 0.75m, and 2.89 g/t gold over 1.0m.
The exploration target remains quartz and quartz-carbonate vein or stockwork gold mineralization occurring at mafic volcanic interflow contacts (Vipond and Central Formations). Drilling has confirmed the presence and continuity of alteration styles and geological settings similar to those of the Hollinger and Dome Mines. A major vein system drilled over 15.1m with intense alteration and strong quartz and quartz-carbonate veining with 1-5% pyrite/chalcopyrite and weakly anomalous gold values, was intersected at the contact between the Vipond and Central Formations.
