One of the land packages includes the
Highlights: Acquisition of 187 single-cell mining claims and 1 multi-cell mining claim for a total of 3,920 hectares, bringing the consolidated Loveland Nickel property land package to 6,244 hectares.
Significant historical intercepts at the
AMDG07-3 intersected 45.0 metres ('m') of 0.70% Ni and 0.75% Cu
LL08-05 intersected 22.80 m of 0.53% Ni and 0.88% Cu, including 11.20 m of 0.65% Ni and 1.0% Cu, and 2.70 m of 1.0% Ni and 1.92% Cu
LL08-11 intersected 37.60 m of 0.33% Ni and 0.38% Cu, including 8.50 m of 0.59% Ni and 0.73% Cu, and 6.00 m of 0.85% Ni and 0.78% Cu.
The
The
Historical work within the newly acquired land package includes various geophysical surveys which delineated several geophysical targets, many of which remain to be drill tested.
In the first purchase agreement, a 100% ownership was acquired for 186 single-cell mining claims for consideration consisting of a cash payment of
Loveland Nickel Property
The Loveland Nickel property is located in the Byers, Loveland,
Mineralization consists of chalcopyrite, pentlandite, and pyrrhotite. Sulphides occur as inter-granular mineralization within a gabbro, transitioning to fracture-controlled and semi-massive lenses along the contact between the gabbro and mafic to intermediate volcanic flows. The mineral concentration occurs as trace to semi-massive (up to 75%) pyrrhotite, with minor pyrite and local concentrations of 6% to 8% chalcopyrite and pentlandite.
The
Significant historical intercepts from 2007 to 2010 include 45.0 m of 0.70% Ni and 0.75% Cu in drill hole AMDG07-3. Drill hole LL08-05 intersected 0.53% Ni and 0.88% Cu over 22.80 m, including 0.65% Ni and 1.0% Cu over 11.20 m, and 1.0% Ni and 1.92% Cu over 2.70 m. This drill hole was collared 50 m northeast, on strike, of drill hole AMDG07-1, which intersected 0.41% Ni and 0.61% Cu over 25.80 m. A broad mineralized zone was intersected in drill hole LL08-11 grading 0.33% Ni and 0.38% Cu over 37.60 m, including 0.59% Ni and 0.73% Cu over 8.50 m, and 0.85% Ni and 0.78% Cu over 6.00 m.
A deeper mineralized zone from 488.0 m to 492.0 m, was intersected in drill hole LL08-22, with a grade of 0.98% Ni and 1.41% Cu. This gabbroic style mineralization indicates the potential for a continued mineralized system to depth. Additionally, drill hole LL09-07 intersected 7.30 m of 0.44% Ni and 0.43% Cu within mineralized gabbro. This zone is associated with a weak to moderate induced polarization ('IP') and Versatile Time Domain Electromagnetic ('VTEM') anomaly about 400 m northwest of the
Statement Regarding Historical Resource Estimates
The Hollinger zone historical resource estimate is unclassified and does not comply with CIM Definition Standards on Mineral Resources and Mineral Reserves as required by NI 43-101. The Hollinger zone historical resource estimate was taken from a report titled 'Geological Report, Rousseau Loveland Property, Loveland Township' authored by
About
Moneta is a Canadian-based gold exploration company whose primary focus is on advancing its 100% wholly owned Tower Gold project, located in the
Contact:
Tel: 416-471-5463
Email: akeshishian@monetagold.com
The Company's public documents may be accessed at www.sedarplus.com. For further information on the Company, please visit our website at www.monetagold.com or email us at info@monetagold.com.
Certain statements in this press release including certain information about Moneta's business outlook, objectives, strategies, plans, strategic priorities and results of operations, as well as other statements which are not current statements or historical facts, constitute 'forward-looking information' or 'forward-looking statements' (collectively 'forward-looking statements') within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (without limitation, statements regarding exploration programs, potential mineralization, future plans and objectives of the Company, updated to the mineral resources, and the timing and results thereof) are forward looking statements. Sentences and phrases containing words such as 'believe', 'estimate', 'anticipate', 'plan', 'will', 'intend', 'predict', 'outlook', 'goal', 'target', 'forecast', 'project', 'scheduled', 'proposed', 'expect', 'potential', 'strategy', and the negative of any of these words, or variations of them, or comparable terminology that does not relate strictly to current or historical facts, are all indicative of forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company.
Forward-looking statements are subject to inherent risks and uncertainties, and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from Moneta's expectations expressed in or implied by such forward-looking statements and that Moneta's business outlook, objectives, plans and strategic priorities may not be achieved. These statements are not guarantees of future performance or events, and Moneta cautions you against relying on any of these forward-looking statements. Forward-looking statements are provided in this press release for the purpose of assisting investors and others in understanding Moneta's objectives, strategic priorities and business outlook, and in obtaining a better understanding of Moneta's anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Examples of forward-looking statements in this press release include, but are not limited to: information with respect to the Company's planned exploration work, statements with respect to the expected benefits resulting from the acquisition of the Property and statements with respect to the Company's plans with respect to the historical resource estimates.
Forward looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Important risk factors that could cause actual results or events to differ materially from those expressed in, or implied by, the forward-looking statements contained in this press release include, but are not limited to: uncertainties inherent in the business of mineral exploration and extraction; uncertainty with respect to the Company's liquidity and ability to secure additional financing; uncertainty of mineral resources; security threats to the Company's information technology systems; the current global financial condition; the market price of securities and substantial volatility in the market price of commodities; fluctuations of commodity prices; the Company's history of net losses; possible loss of interests in mineral properties; title risks; uncertainty relating to surface rights; environmental risks; risks associated with joint venture agreements; risks relating to statutory and regulatory requirements; uncertainty relating to the Company's competition with other gold exploration and development companies for materials and supplies; the Company's dependence on key management and employees; uncertainty arising from international conflict and other geopolitical tensions and events, including but to limited to
Forward-looking statements made in this press release are based on a number of assumptions that Moneta believed were reasonable at the time it made each forward-looking statement. The assumptions, although considered reasonable by Moneta on the day it made the forward-looking statements, may prove to be inaccurate. Accordingly, our actual results could differ materially from our expectations. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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