Moneta Porcupine Mines Inc.Moneta Porcupine Mines Inc.
Windjammer - South Area

Windjammer - South Area is located within Timiskaming sediments along the southern iron formation contact south of the Destor Porcupine Fault/Deformation Zone.

Moneta has completed several drill programs, most recently in 2011, since the acquisition of the property in 2007, to evaluate and to expand the mineralization along the banded iron formation and its (south) hanging wall sediments. Previously reported highlights from these drill programs included 2.21g/t over 47.3m, 3.4g/t over 27m and 1.76 g/t over 41.83m.

Windjammer - South Area shows the typical gold mineralization style encountered within the hanging wall sediments of the iron formation. Sediments are predominantly ankerite altered Timiskaming greywacke, sandstone, and conglomerate with mineralization showing an overall moderate plunge to the southwest and open to depth. The gold mineralization is dominantly of the stockwork style associated with pyrite in and around fine quartz stringers and variable scale quartz and quartz-carbonate veining. Sulphidization of the iron formation is primarily associated with local brecciation of the iron formation at the sedimentary contact.

The mineralized system is currently known to extend for 1,000 metres along strike, reach a 300m width into the iron formation (south) hanging wall, and continues to a depth of 450 metres.

Windjammer - Central Area

Windjammer - Central Area is hosted in a 500 metre wide Timiskaming sedimentary sequence that continues north of the Windjammer - South Area iron formation to the Destor volcanics hosting Windjammer - North Area.

Recent 2012 drilling on Windjammer - Central Area has confirmed gold mineralization occurs over wide intervals in the sediments both along the volcanic contact and well south into the sediments. This represents significant potential for near surface bulk gold mineralization. The Windjammer - Central Area gold mineralization is located in the sedimentary footwall of the steeply north dipping volcanics of the Destor Porcupine Fault/Deformation Zone and Windjammer - North Area gold zone. Gold mineralization is similar in style to that in the immediately adjacent (south) Windjammer - South Area zone.

Previously reported drill highlights included 1.02g/t over 73m or 0.76g/t over 140m, 0.94g/t over 54m including 1.42g/t over 26m, and 1.06g/t over 22.0m or 0.72g/t over 55m.

Gold mineralization has now been drilled along the volcanic/sedimentary contact over a 750 metre strike length, up to 350 metres southerly into the hanging wall, and to a depth of only 350 metres. Drilling to date has been on a 100m drill hole spacing both in plan and vertically to systematically test the mineralized extent of the gold system.

Windjammer - North Area

Windjammer - North Area is located immediately north of Windjammer - Central Area within the volcanics of the northern branch of the Destor Porcupine Fault/Deformation Zone that also hosts Moneta's Landing Zone, Twin Creeks Zone, and Last Chance Zone. Drilling consists predominantly of historic programs undertaken in 1987 and 1988, followed by Moneta's more recent drill programs in 2009 and 2012.

Significant gold intersections include 6.37 g/t over 5.9m and 5.38 g/t over 19.60m. Gold mineralization occurs in both altered ultramafic to mafic volcanics, and in altered mafic volcanics. The first typically consists of quartz carbonate veining in high strain zones with carbonate, silica, fuchsite, and sericite alteration. The second is characterized by auriferous, strongly carbonatized, sericitized, and pyritized-mafic volcanic rocks. Both environments contain visible gold in quartz veins.

The mineralized system is currently known to extend for 600 metres along strike, is 50m in width, and is tested to a depth of 400 metres.

Windjammer - West Area

The Windjammer - West Area is located between the Southwest Zone and Windjammer - South Area along the iron formation. Mineralization is similar to that of adjacent Windjammer - South Area and is currently confirmed over 450 metres of strike along the (south) iron formation contact in the hanging wall sediments. Additional mineralization with an associated vein system is along a north-westerly trending and steep southwesterly dipping cross structure.

Previous highlights included 1.04g/t over 117.1m with 5.15g/t over 14.3m, 1.04g/t over 55.0m with 5.52g/t over 4.0m, and 1.14g/t over 39.0m including 1.98g/t over 6.0m.

The mineralized system is currently known to extend for 450 metres along strike, 150m width and to a depth of 500 metres. Significant untested potential remains at depth between the current Windjammer - West Area mineralization and the Southwest Zone.
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