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Moneta Porcupine Mines Inc holds 100% interest in 6 core gold projects located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The Golden Highway Project hosts 43-101 mineral resource comprised of 676,900 ounces gold contained within 5.11 Mt @ 4.12g/t Au and a total of 1,386,600 ounces gold contained within 10.78 Mt @4.00 g/t Au in the inferred category at a 2.60 g/t Au at South West and 3.00 g/t Au cut-off for the other deposits. A PEA study completed on the South West Deposit, highlighted an 11-year mine life with an after-tax NPV5% of C$236MM, IRR of 30% and a 3.4 year payback, generating C$371MM LOM after-tax free cash flow. The project envisaged underground mining producing 76,000 oz/pa at a cash cost of US$590/oz.
Timmins, ON, P4N 1C2, Canada