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Moneta Increases Resources to 4,265,000 Oz Gold Indicated and 7,496,000 Oz Gold Inferred at Tower Gold Project
Toronto, Ontario--(Newsfile Corp. - May 11, 2022) - Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF)...
About this update from Stllr Gold Inc.
[{"type":"text","content":"Moneta Increases Resources to 4,265,000 Oz Gold Indicated and 7,496,000 Oz Gold Inferred at Tower Gold ProjectToronto, Ontario--(Newsfile Corp. - May 11, 2022) - Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) (\"Moneta\" or the \"Company\") is pleased to provide an updated mineral resource estimate (\"MRE\") for its 100% owned Tower Gold project (\"Project\"), located 100 kilometres (\"km\") east of Timmins, Ontario. The consolidated mineral resource now totals 4.27 million (\"M\") ounces (\"oz\") indicated gold (\"Au\") and 7.50 Moz inferred gold, positioning Tower Gold as one of the advanced exploration projects in Canada. The MRE will form the basis of an updated preliminary economic assessment (\"PEA\") scheduled for completion later this quarter.Highlights of the Updated Tower Gold Mineral Resource Estimate:70% increase in total contained Au to 7,496,000 oz (combined underground and open pit) in the inferred category on the Tower Gold projectAddition of 3,097,000 oz of total inferred gold resources 8% increase in total contained Au to 4,265,000 oz (combined underground and open pit) in the indicated category on the Tower Gold project Addition of 298,000 oz of total indicated gold resources Increase in grade of the underground resources (22% indicated and 2% inferred) and no material change in the average grade of the open pit resources25% increase of indicated open pit Au resources to 4,153,000 oz and 156% increase in inferred open pit Au resources to 5,801,000 oz Increase in higher grade ounces in the Garrison starter pit to 1,748,000 oz contained Au indicated resources at a grade of 1.07 g/t AuDefinition of high-grade open pit at Westaway containing 1,067,000 oz at a grade of 2.14 g/t Au inferred resourcesRe-establishment of the open pit at South West containing 316,000 oz Au indicated and 1,195,000 oz Au inferred resourcesInfill of the Windjammer open pit to contain 1,767,000 oz Au indicated and 2,393,000 oz Au inferred contained ounces (Windjammer South and Windjammer Central)The updated mineral resource was independently prepared by APEX Geoscience Ltd. in accordance with National Instrument 43-101 (\"NI 43-101\"), with an effective date of May 11, 2022, and using a database current as of March 15, 2022. The Tower Gold project has shown a significant improvement in size over the December 2020 resource estimate ...