Moneta Gold Inc. (TSX: ME) has received further high-grade assay results from 14 drill holes from resource infill and step-out drilling on the Westaway and South West gold deposits at the Tower Gold project in Ontario.
The drilling was conducted as part of the current 70,000 m infill and resource upgrade drill programme on the recently announced mineral resource estimate of 4.5 million (M) ounces (oz) indicated gold (Au) and 8.3 Moz inferred Au at the Tower Gold project.
Drilling Highlights:
Westaway
- MGH22-310 intersected 70.00 m @ 1.82 grams per tonne “g/t” Au, including 37.00 m @ 3.10 g/t Au, including 22.15 m @ 4.62 g/t Au, including 6.95 m @ 6.40 g/t Au, and 0.80 m @ 11.90 g/t Au
- MGH22-320 intersected 29.00 m @ 3.34 g/t Au, including 2.12 m @ 12.60 g/t Au, including 0.92 m @ 22.70 g/t Au, and 5.00 m @ 5.05 g/t Au, and 3.90 m @ 5.32 g/t Au
- MGH22-309 intersected 4.00 m @ 11.43 g/t Au, including 2.75 m @ 16.21 g/t Au, including 1.40 m @ 19.50 g/t Au
- MGH22-299 intersected 27.00 m @ 2.23 g/t Au, including 7.10 m @ 7.70 g/t Au, including 3.05 m @ 15.49 g/t Au, and 0.95 m @ 23.30 g/t Au
- MGH22-292 intersected 16.35 m @ 2.77 g/t Au, including 7.45 m @ 3.51 g/t Au, including 1.20 m @ 12.80 g/t Au, and 1.25 m @ 8.91 g/t Au
- MGH22-292 intersected 6.00 m @ 7.47 g/t Au, including 1.30 m @ 14.62 g/t Au, including 0.60 m @ 20.20 g/t Au, and 1.00 m @ 16.50 g/t Au
- MGH22-304 intersected 19.00 m @ 2.15 g/t Au, including 7.00 m @ 4.44 g/t Au, including 2.00 m @ 13.81 g/t Au, including 1.00 m @ 23.80 g/t Au
- MGH22-300 intersected 13.10 m @ 2.59 g/t Au, including 8.10 m @ 3.05 g/t Au, including 1.00 m @ 7.41 g/t Au, and 1.00 m @ 5.75 g/t Au
South West
- MGH22-293 intersected 56.50 m @ 1.10 g/t Au, including 10.00 M @ 3.30 g/t Au, including 3.00 m @ 6.70 g/t Au, including 1.00 m @ 11.20 g/t Au
- MGH22-291 intersected 20.50 m @ 1.61 g/t Au, including 12.00 m @ 2.21 g/t Au, including 1.00 m @ 7.10 g/t Au
- MGH22-291 intersected 3.70 m @ 3.34 g/t Au, including 1.00 m @ 9.52 g/t Au
- MGH22-293 intersected 27.50 m @ 0.99 g/t Au, including 8.70 m @ 1.95 g/t Au, including 1.20 m @ 5.72 g/t Au
“These latest infill assay drill results from Westaway and South West continue to confirm the continuity and extensions of the current mineral resource estimate, recently updated in September,” President and CEO, Gary O’Connor, said.
“These results support significant gold grades across wide widths of gold mineralisation within the mostly underground mineral resources and have intersected extensions of mineralization outside the resource up to 150 metres to the west and at depth and up to 300 metres to the east.
“As we continue to de-risk and advance the Tower Gold project, we look forward to completing the current resource infill and upgrade drill program in preparation of a mineral resource estimate update for the planned Pre-Feasibility Study, set to commence in the first quarter of 2024.”
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