TORONTO, Nov. 21, 2013 /CNW/ - Moneta Porcupine Mines Inc. (TSX: ME) (OTC: MPUCF) (XETRA: MOP)
("Moneta" or the "Company") announces the appointment of Ken D. Tylee as Vice President Exploration
and the nomination of Roger Aubertin to the Board of Directors.
Mr. Tylee has over 30 years of experience in the world class Timmins
Gold Camp in Ontario with Kinross/Placer Dome/Goldcorp, Noranda and
Canamax. His extensive experience includes intimate knowledge across
most geological settings from the Quebec border, through Timmins, to
the western limits of the Destor Porcupine Fault Zone.
Mr. Tylee was most recently a Senior Exploration Geologist at Goldcorp
Inc. where he spent 19 years responsible for surface exploration in
northeastern Ontario and underground exploration at Hoyle Pond,
currently the highest grade gold mine in the Timmins Camp. Mr. Tylee
was also responsible for project generation and led site visits and the
assessment of numerous property submittals within the Timmins area.
Mr. Tylee played a lead role on several exploration teams, with an
exceptional track record of 4 discoveries moving into gold production,
including the Hollinger Pit and Holloway Mine within the current Holt
Ian C. Peres, President and CEO stated, "Mr. Tylee adds considerable
depth to our technical team and will be instrumental in growing our NI
43-101 resources and advancing our other key gold projects. His
underground experience at Hoyle Pond will be particularly important in
advancing the structural interpretation and growth in our high grade
gold resource in the Southwest Zone, in addition to other high grade
targets on our Golden Highway project."
Mr. Aubertin commented, "We are pleased to add Mr. Tylee to our
technical team with his extensive experience in the Timmins camp and
exceptional track record of exploration successes. I will continue to
be directly involved as an executive director and look forward to
working closely with Mr. Tylee and the technical team to advance Golden
Highway as well as our other properties."
Prior to joining Moneta, Mr. Aubertin was Exploration and Site Project
Manager at Detour Gold Corporation where he was responsible for
planning and oversight of a 450,000 metre delineation drill program
resulting in 14.9M oz in gold reserves at its Detour Lake Mine,
currently in production in northeastern Ontario.
Moneta holds a 100% interest in 5 core gold projects strategically
located along the highly prospective Destor Porcupine Fault Zone in the
world class Timmins Camp, one of the best mining jurisdictions in the
world with over 75 million ounces of past gold production and unmatched
infrastructure including paved highway access, water, electricity,
skilled labor force, and nearby mills.
A Preliminary Economic Assessment (Dec 2012) for the flagship Golden Highway project generated a Net Present Value of $748M using US$1,350 gold
based on the NI 43-101 resource estimate of 1,091,000 ounces indicated (31.1 Mt at 1.09 g/t Au) plus 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four
kilometres of similar geology.
Moneta's public documents may be accessed at www.sedar.com. For further information on Moneta, please visit our website at www.monetaporcupine.com or email us at email@example.com.
This news release includes certain forward-looking statements concerning
the future performance of our business, its operations and its
financial performance and condition, as well as management's
objectives, strategies, beliefs and intentions. Forward-looking
statements are frequently identified by such words as "may", "will",
"plan", "expect", "anticipate", "estimate", "intend" and similar words
referring to future events and results. Forward-looking statements are
based on the current opinions and expectations of management. All
forward-looking information is inherently uncertain and subject to a
variety of assumptions, risks and uncertainties, including the
speculative nature of mineral exploration and development, fluctuating
commodity prices, competitive risks and the availability of financing,
as described in more detail in our recent securities filings available
at www.sedar.com. Actual events or results may differ materially from those projected in
the forward looking-statements and we caution against placing undue
reliance thereon. We assume no obligation to revise or update these
SOURCE: Moneta Porcupine Mines Inc.
For further information:
Ian C. Peres, President and CEO