In the Contact zone, gold values increase in two holes drilled towards the east. A 22-ft section assayed 0.18 oz. A second hole cut 5.9 ft grading 0.38 oz.
On another property 100%- owned by Moneta, drilling was successful in intersecting erratic gold values along strike for 4,000 ft. Although the results were inconclusive, Moneta says the program did demonstrate that the intensity of alteration increases with depth. As a result, a deep drilling program is being planned.
Unocal Canada is the operator of the program on the Moneta property, holding the right to earn 50% of Moneta’s interest in the combined claims in the area by spending $5 million over three years.
Moneta and Unocal have spent more than $1 million on the Nahanni claims and have earned their interest. Nahanni has the option to contribute its pro-rated share of on-going exploration costs or have its interest diluted.
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