Moneta Porcupine Mines Inc. is a mineral resource exploration and development company focussed on the exploration and development of gold projects in the prolific Timmins Camp of Ontario, Canada.
Moneta trades on the main board of the Toronto Stock Exchange 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.
Moneta’s recent primary gold exploration and resource development focus has been the Golden Highway Project centred in Michaud Township 100 km east of Timmins, Ontario along Highway 101, a major provincial highway. With the recent acquisition of the Golden Bear assets from O3 Mining Moneta has created a largely contiguous land package comprised of approximately 16,188.3 hectares with updated NI 43‐101 mineral resource estimates (December 2020) containing 4.0 million ounces of gold in the indicated category and 4.4 million ounces of gold in the inferred category.
The combined Golden Highway and Garrison Projects, collectively the Tower Gold project, captures 17 kms of the Destor Porcupine Fault Zone Corridor. The combined project currently hosts a NI 43‐101 resource, spanning only 8 kms of the corridor and found primarily within sedimentary host rocks along a southern splay of the Destor. Resource growth potential exists along the remaining 9 kms of largely sediment hosted mineralization along the regional BIF contact and within untested mafic volcanic rocks along the Destor in contact with ultramafic units, where limited historical drilling has already confirmed gold mineralization. The main unconformity which occurs as the mafic volcanic‐ sediment contact also remains largely untested. Moneta also has a 50% stake in the Garrison JV with Kirkland Lake Gold in the Golden Highway Camp. In addition to the combined Golden Highway and Garrison deposits, the Tower Gold project also includes the prospective Buffonta, Gold Pike, Collins Lake, Michaud, Canyon and Plato gold projects.
Moneta continues to maintain a large land holding in Porcupine Gold Camp near Timmins which includes the gold properties of North Tisdale, Nighthawk Lake, Kayorum, DeSantis East (Ogden) and Denton. Additional properties with strategic value are historical base metal projects and include Loveland Nickel (Ni), Kamiskotia (Cu/Zn), and Fripp (Cu).
Moneta’s strategy is to expand its drill program to define the overall resource potential, followed by an updated mineral resource estimate and a combined PEA on the entire Tower Gold Project that will include the expanded scope and production profile potential. A pre-feasibility study on the project will then be conducted with the ultimate goal of progressing the project to gold production stage.