The gold resource estimate at Moneta Porcupine Mines’ prospective mine property, near Matheson in northeastern Ontario, has increased by more than 200 per cent.
The Toronto junior miner posted a new mineral resource for its Golden Highway Project based on an exploration drilling program conducted during the first half of this year.
The Golden Highway Project, located 100 kilometres east of Timmins, shows both open pit and underground mine potential.
The posted results show a 217 per cent increase from the last count released in September for a total contained gold to 2,144,200 ounces (both underground and open pit) in the indicated category, and a 141 per cent increase in total contained gold to 3,335,300 ounces in the inferred category.
The company said the most of these resources come from its Westaway high-grade discovery and from mineralization found near surface with open pit potential.
For the rest of this article: https://www.northernontariobusiness.com/industry-news/mining/gold-ounces-jump-at-monetas-matheson-area-project-3175752