Timmins-based Moneta Porcupine Mines (TSE) has discovered gold near Wickenburg, Ariz.
The discovery was made after sampling was carried out on an outcrop over an 80-metre length. Results from chip samples run as high as 6.97 grams gold per tonne over 5 metres. Four other assays range between 1.24 and 2.46 grams over widths varying between 8 and 30 metres.
Mapping and sampling of the favorable horizon are continuing. The mineralization appears to be associated with a 150-metre-wide induced-polarization anomaly. The anomaly has a known strike length of 500 metres and is open to the north and south.