Moneta Porcupine Mines and Wahgoshig First Nation have signed an exploration agreement that will give the community shares in the company while providing the mining junior with access to its Timmins-area mining claims.
Located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp, Moneta's Golden Highway project consists of the Golden Highway, North Tisdale, Nighthawk Lake, DeSantis East, Kayorum and Denton projects.
The Golden Highway project covers 12 kilometres of prospective ground along the DPFZ. Four kilometres host the current 43-101 mineral resource estimate comprised of an indicated resource of 383,400 ounces gold contained within 2.59 tonnes at 4.61 grams per tonne gold, and a total of 873,200 ounces gold contained within 6.46 tonnes at 4.21 grams per tonne gold in the inferred category at a 3 gram-per-tonne gold cutoff.
The Wahgoshig First Nation is an Algonquin community whose traditional territory straddles a large segment of northeastern Ontario and northwest Quebec, and is located approximately 15 kilometres from the Golden High-way project.
Gary O'Connor, Moneta's CEO and chief geologist, said the company recognizes Indigenous and treaty rights and the importance of Wahgoshig's traditional lands.
"Moneta are committed to developing a positive relationship, which recognizes the need for all to mutually benefit and co-exist," O'Connor said in an Aug. 7 news release.
"Through a process of mutual respect, ongoing dialogue and regular interaction, Moneta looks forward to working co-operatively with Wahgoshig First Nation...