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Moneta Intersects Further Gold Mineralization and Commences Geomechanical Drilling and Hydrogeological Testing at Tower Gold
Toronto, Ontario--(Newsfile Corp. - September 8, 2023) - Moneta Gold Inc. (TSX: ME) (OTCQX: MEAU...
About this update from Stllr Gold Inc.
[{"type":"text","content":"Moneta Intersects Further Gold Mineralization and Commences Geomechanical Drilling and Hydrogeological Testing at Tower GoldToronto, Ontario--(Newsfile Corp. - September 8, 2023) - Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (FSE: MOPA) (\"Moneta\" or the \"Company\") is pleased to announce a project update and assay results from thirty-two (32) drill holes on the Windjammer and Westaway deposits at the Tower Gold project (the \"Project\"), located in the Timmins Gold Camp, Ontario. The drilling was conducted as part of a 140,000 metre (\"m\") drilling program, started in 2022, designed for resource upgrade and infill of the 4.5 million (\"M\") ounces (\"oz\") indicated gold (\"Au\") and 8.3 Moz inferred Au mineral resource estimate (see September 07, 2022 press release). Project Update:110,000 m of 140,000 m infill drill program completedWSP Global is engaged to design and oversee the execution of pre-feasibility study (\"PFS\") engineering studies and to support Moneta through permitting of the Tower Gold projectCommenced open pit geomechanical drilling and hydrogeological testing in mid-AugustOverburden geotechnical drilling underwayMetallurgical drilling and sample collection are underway in anticipation of lab analysis, including variability test work, starting in Q4 2023Environmental Permitting - Submission of Initial Project Description (\"IPD\") to the Impact Assessment Agency of Canada on track for late Q4 2023, which will initiate the Federal Impact Assessment (\"IA\") processMine Technical Services (\"MTS\") was appointed to lead resource updates in anticipation of the PFS and to support the design of the remaining metres of the infill drill programCompletion of open pit PFS on track for H2 2024, focusing on the first 11 years of September 2022 preliminary economic assessment (\"PEA\")Drilling Highlights:WindjammerMGH23-416 intersected 4.25 m @ 31.17 grams per tonne \"g/t\" Au, including 1.40 m @ 93.00 g/t AuMGH22-433 intersected 38.10 m @ 1.18 g/t Au, including 16.50 m @ 2.02 g/t Au, including 4.90 m @ 3.75 g/t AuMGH23-433 intersected 17.47 m @ 1.01 g/t AuWestawayMGH23-401 intersected 12.90 m @ 3.90 g/t Au, including 7.10 m @ 6.25 g/t AuMGH23-427 intersected 8.47 m @ 4.05 g/t Au, including 2.00 m @ 12.85 g/t AuMGH23-407 intersected 11.80 m @ 2.75 g/t Au, including 7.50 m @ 3.84 g/t AuJosef Vejvoda, Moneta's Chairman an...