Gary O'Connor, CEO, Moneta Porcupine Mines Inc.
Speaker Bio:
Gary O’Connor has over 35 years of experience in the mining industry and is currently CEO of Moneta Porcupine Mines which is developing the Golden Highway Gold project in Ontario, Canada. Previously he worked as Vice-President of Dundee Resources for 10 years, responsible for the technical due diligence of many resource projects for the corporation and managed funds.
He was previously Vice-President, Exploration of Gabriel Resources covering the resource definition of the Rosia Montana and Certej gold deposits, the discovery of the Rodu-Frasin gold deposit plus the drill out and scoping studies of a number of Cu-Au porphyry deposits. He worked for Freeport-McMoRan in Indonesia for over 10 years and was involved in the discovery of the Wabu Gold skarn deposit, the drill out and discovery of a number of Cu-Au porphyry deposits and one Ni-Co laterite deposit. While with Freeport Mr. O’Connor worked on the due diligence and discovery of a major gold fraud on the Busang gold “deposit” in Kalimantan by Bre-X. He had previously worked for BP-Minerals and Amax Gold on a number of gold projects in Australasia and the South West Pacific.
Talk Abstract:
Moneta Porcupine Mines holds a 100% interest in the Golden Highway project, located 110km east of Timmins. The Project covers 12 kilometres of prospective ground along the DPFZ of which 2 km hosts the current 43-101 mineral resource estimate of 676,900 ounces gold contained within 5.11 Mt @ 4.12 g/t Au indicated and 1,386,600 ounces gold contained within 10.78 Mt @ 4.00 g/t Au inferred at 2.60 g/t Au and 3.00 g/t Au cut-off grades for South West and the other deposit areas respectively. The new resource is based on an updated geological model and interpretation.
In September 2020 Moneta completed a Preliminary Economic Assessment “PEA” on the South West Deposit, one of 6 deposits located on the project. The PEA highlighted an owner-operated operation with an 11-year mine life with an after-tax NPV5% of C$236 million, IRR of 30% and a 3.4 year payback. The project envisaged underground mining at a rate of 1,750 tpd producing 76,000 oz/pa and 712,000 oz life of mine, at a cash cost of US$690/oz.
Moneta completed over 18,000 m of drilling on the extensions of the adjacent Windjammer South, 55 and new Westaway deposits in early 2020 and plans to complete a resource expansion update by the end of 2020. Moneta is planning over 20,000 m of additional drilling over the winter of 2021 to continue to expand the adjacent resources and to test new mineralized zones.
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