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| Moneta's prior exploration on the Golden Highway Project in the 1980s resulted in the discovery of what is now collectively known as the Southwest Zone. The zone has been subdivided into the eastern, central, and western blocks reflecting local fault displacements. In 1997 Barrick Gold returned the property to Moneta having developed a non NI 43-101 historical inferred resource estimate of 624,500 ounces gold based on 3.25 million tonnes averaging almost 6 grams/tonne with a cut-off of 3.0 grams/tonne. The Barrick interpretation outlined several stacked and variably orientated vein zones that focused on the higher grade component of the mineralization. Included in the drill program was a single drill hole that intersected a wide gold mineralized alteration zone in contact with iron formation returning a drilled width of 2.14 g/t gold over 68.0 metres including 6.0 g/t over 8.5 metres, all at a depth of ~1,000 metres below surface illustrating the potential and widespread nature of the gold mineralizing system. Acrex Ventures, as part of the initial Michaud Joint Venture earn-in, drilled 5 short holes throughout the Southwest Zone confirming historical grades and filing data gaps, intersecting several vein and alteration zones. Two additional holes were completed immediately to the north of the central block establishing the presence of gold in altered metasediments and ultramafics. No further drilling was undertaken and the Southwest Zone was returned to Moneta. The Southwest zone remains a key Golden Highway Project asset and a priority for advanced exploration and interpretation. Additional drilling focused in the upper portion of the Southwest Zone is required to advance the current modeling and upgrade the historical inferred resource to NI 43-101 standards.  Southwest Zone Plan View | ||||
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