Moneta holds a 100% interest in 6 core gold projects and a 50% JV with Kirkland Lake Gold strategically located on or along the Destor Porcupine Fault Zone corridor (“Destor”), one of the key mineralized structures in the Abitibi Greenstone belt in Ontario, with excellent infrastructure including access roads, water, electricity, and mills. There are no royalties or encumbrances on any of the resource aeras held by Moneta. Most gold mineralization in the region is associated with the Destor, including significant resources and producing mines now operated by Porcupine Gold Mines (Newmont) and several others such as Pan American Silver Corporation, McEwen Mining and Kirkland Lake Gold. The Golden Highway Camp has experienced rapid advancement of gold resources by Moneta and others including O3 Mining, reflecting the strong regional gold potential.
The Porcupine Camp and Golden Highway Camp (here collectively referred to as “Timmins Camp“) is the most prolific gold producing belt in Canada and is one of the most prolific gold‐producing areas in the world with over 85 million ounces of gold produced to date, including that from some 26 mines, each of which generated more than 100,000 ounces.
Figure I: Moneta’s Key Gold Exploration Properties
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 all‐season route. Moneta has a largely contiguous land package of 740 single and boundary mining cell claims (post 2018 MNDM update) or approximately 10,680 hectares with an updated NI 43‐101 mineral resource estimate (December 2020) containing 2.1 million ounces of gold in the indicated category and 3.3 million ounces of gold in the inferred category.
The Golden Highway Project captures 12 kms of the Destor Porcupine Fault Zone Corridor (“Destor”) with 4 major splays of the regional structure present. The project currently hosts a NI 43‐101 resource, covering only 4 km of the corridor and found primarily within sedimentary host rocks along one splay of the Destor. Resource growth potential exists along the remaining 8 km of largely sediment hosted mineralization along the regional BIF contact, on other splays and within untested mafic volcanic rocks along the Destor in contact with ultramafic units, where limited historical drilling has confirmed gold mineralization. The main unconformities which occur as the mafic volcanic‐sediment contacts on the northern and southern contacts of the sedimentary basin also remains largely untested. Moneta also has a 50% stake in the Garrison JV with Kirkland Lake Gold in the Golden Highway Camp.
Moneta continues to maintain a large land holding in Porcupine Gold Camp 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).