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Gold/Mining/Energy : MONETA PORCUPINE ME.t

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To: Crocodile who wrote (297)	10/3/1997 8:56:00 AM
From: denis J	of 440

Hi Bev I am going to try to repost the release the figures on the one posted where to jumbled for me. POG has slipped back some lately, however two gold analysts prediction in the G & M are 1. POG 350 by end of year and 2. POG 500 in 98 ???? and now my attempt OCTOBER 1, 1997 ME: TORONTO STOCK EXCHANGE ME: BERLIN STOCK EXCHANGE MOP: FRANKFURT STOCK EXCHANGE MONETA CONFIRMS NIGHTHAWK LAKE GOLD DISCOVERY Moneta Porcupine Mines Inc. ("Moneta") reports completion of Phase II stratigraphic drilling and confirms the discovery of a significant gold mineralized alteration zone on Moneta's 100% owned Nighthawk Lake property near Timmins, Ontario. The discovery is on the Collins patented mining claims, a 15 claim block (188 ha) located 3km north of Royal Oak's high grade Hopson Zone and 4km west of Echo Bay's Aquarius Project which has a reported 1.3 million ounce resource. All 12 holes currently completed have intersected gold mineralization, generally in quartz veins within variably altered ultramafic volcanics. Drilling has tested 300m east-west, and depths from 30m to 300m. The zone is open both along strike and down dip/plunge. Highlights* of Phase II drilling are: DDH Depth Width Gold Value (m) (m drilled) (gm/t) * See Table on following page for a 6 150.5 2.7 3.0 detailed summary of drill results 175.0 1.3 6.8 8 12.5 0.8 5.7 12 93.0 0.7 4.1 101.0 0.8 5.9 13 144.5 5.8 9.5 incl. 1.8 27.3 17 80.5 0.8 11.0 19 231.0 1.2 4.2 The Nighthawk Lake exploration program has been funded from the $510,000 flow through finance arranged by First Delta Securities in November, 1996. Initial drill targets were identified by 'Realsection IP' in a favourable geologic setting. Currently an orientation 'Mobile Metal Ion' survey is being evaluated in order to refine Moneta's ongoing exploration programs. Moneta plans a Phase III drill program in late fall to improve confidence in the postulated geologic model and to establish continuity of mineralization. For further information contact: Rod Whyte Chairman London, England (0171) 736-2212 Fran Yungwirth CEO Timmins, Ontario (705) 264-2296 NIGHTHAWK LAKE DRILL RESULTS: PHASE II DDH SECTION DEPTH AU MAIN INTERVAL INCLUDING (m) (m) g/tonne m drilled g/tonne m drilled 15 179.0 151.5 3.40 1.00 171.0 161.0 1.20 0.80 158.0 176.0 1.32 1.00 19 192.0 231.0 2.17 3.43 4.22 1.24 191.0 246.0 1.68 2.50 190.5 250.5 2.62 0.48 186.5 303.0 2.09 1.00 9 196.0 52.5 4.81 0.59 8 199.5 12.5 2.79 2.25 5.74 0.75 199.0 35.5 1.04 1.25 198.5 70.5 2.07 0.66 18 200.0 29.0 0.99 1.82 16 214.0 182.0 1.61 1.07 214.5 187.5 3.13 1.00 215.0 191.0 1.20 1.00 216.0 198.0 1.17 0.45 217.0 208.0 1.83 0.30 7 249.5 283.5 1.06 0.80 243.0 301.0 2.16 0.10 6 272.5 150.5 3.04 2.71 5.61 0.50 271.0 160.0 1.27 1.02 268.0 175.0 6.75 1.25 13 319.0 98.0 1.71 0.76 314.5 103.0 15.24 0.32 286.0 138.0 2.60 1.18 281.0 144.5 9.54 5.75 4.27 0.75 and 27.30 1.80 14 362.0 102.5 1.11 0.31 336.5 165.5 1.29 4.00 12 379.0 72.0 3.38 0.68 379.0 79.0 1.71 2.33 379.0 93.0 2.24 2.75 4.05 0.74 379.0 101.0 3.70 2.82 5.85 0.80 379.0 110.0 2.20 2.30 379.0 113.0 4.35 1.25 17 486.0 80.5 4.91 2.45 10.96 0.80 485.5 83.5 1.14 0.62 483.5 103.5 1.29 0.45 Notes: All intersections are drilled widths. All assays are fire assays with higher grades re-assayed and verified by reputable Canadian assay laboratories. Assay results may be weighted averages of re-assays and checks. Intersections are listed from west to east on a metric N-S grid commencing at Line 0E. DDHs 10 and 11 were not drilled on the Collins property. all the best denis J ps sorry goes in fine but when posted numbers crunch up ?????

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