Drilling will resume in Godfrey Twp., near Timmins, Ont., where Falconbridge intersected a 1.5-metre interval grading 82.2 grams gold per tonne at a depth of 115 metres.
Under an agreement with Falconbridge Gold (TSE), Moneta Porcupine Mines (TSE) will follow up the gold zone, which is open in all directions. The mineralization is hosted in a sheared, brecciated and altered mafic volcanic. About 11 metres further down the hole, Falconbridge hit a 1.3-metre interval grading 0.32% zinc in felsic volcanics.
Moneta believes the hole may have intersected the distal portion of a volcanogenic massive sulphide deposit.