Moneta Gold Inc. (TSX: ME) confirms continuity from infill drilling assay results from seven drill holes on the Westaway gold deposit 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 4.3 million (M) ounces (oz) indicated gold (Au) and 7.5 Moz inferred Au at the Tower Gold project.
Drilling Highlights:
Westaway
- MGH22-281 intersected 7.85 m @ 4.06 grams per tonne “g/t” gold “Au”, including 1.85 m @ 15.25 g/t Au, including 0.40 m @ 34.40 g/t Au
- MGH22-281 intersected 6.00 m @ 4.79 g/t Au, including 2.10 m @ 8.23 g/t Au and 1.00 m @ 5.53 g/t Au
- MGH22-278 intersected 2.00 m @ 13.29 g/t Au, including 1.00 m @ 24.10 g/t Au
- MGH22-286 intersected 31.00 m @ 1.50 g/t Au, including 13.35 m @ 2.94 g/t Au, including 2.00 m @ 7.03 g/t Au, including 0.90 m @ 10.40 g/t Au, and 1.00 m @ 16.60 g/t Au
- MGH22-281 intersected 13.30 m @ 2.27 g/t Au, including 6.00 m @ 4.47 g/t Au, including 1.00 m @ 20.90 g/t Au
- MGH22-278 intersected 9.00 m @ 2.28 g/t Au, including 1.00 m @ 7.68 g/t Au
- MGH22-281 intersected 31.50 m @ 1.29 g/t Au, including 10.00 m @ 2.65 g/t Au, and 3.00 m @ 5.68 g/t Au, including 1.00 m @ 7.67 g/t Au
- MGH22-282 intersected 5.00 m @ 3.70 g/t Au, including 3.40 m @ 4.59 g/t Au
- MGH22-286 intersected 2.45 m @ 5.39 g/t Au, including 1.35 m @ 6.83 g/t Au
- MGH22-289 intersected 6.00 m @ 2.39 g/t Au, including 1.00 m @ 9.76 g/t Au
- MGH22-281 intersected 6.30 m @ 2.66 g/t Au, including 2.90 m @ 5.32 g/t Au, including 0.80 m @ 11.70 g/t Au
- MGH22-286 intersected 5.50 m @ 2.93 g/t Au, including 1.60 m @ 4.18 g/t Au
“These latest drill results from the current drill programme, designed to infill and upgrade the recently updated open pit and underground mineral resources at Westaway at the Tower Gold project, have highlighted the continuity and extensions of the current Westaway mineral resource estimate,” CEO, Gary O’Connor, said.
“Moreover, results have confirmed both good grade and widths across wide zones of mineralisation within the current Westaway and 55 open pit and underground mineral resources.
“We look forward to completing the Tower Gold Project preliminary economic assessment (PEA) during the third quarter of the year and to releasing additional drill results from the current resource infill and upgrade drill programme.”
The latest assay results are from seven drill holes for 5,445.34 m of diamond drilling completed at Westaway as part of an initial 70,000 m drill programme planned as resource infill and upgrade drilling. The western and shallow portions of drill holes also drilled through the 55 open pit deposit area. Drilling is being conducted on 50 m centres as step-outs and infill of previous drill holes.
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