Moneta completes Wounded Bull buy

Toronto-listed Moneta Porcupine Mines (TSE) has bought Wounded Bull Resources from Australian-based Pima Mining.

Moneta has issued 2 million shares as part of a 2-staged payment to be completed no later than Dec. 31.

Since July, Moneta has been exploring the Newsboy property in Arizona, one of two projects held by Wounded Bull. The program is aimed partly at evaluating six gold geochemical anomalies covering 600 acres.

Previous operators drilled 130 holes and identified an inventory of 234,000 oz. gold within 300 ft. of surface.

Elsewhere, at its Godfrey Twp. property in Ontario, Moneta is proceeding with ground geophysical surveys to evaluate strong airborne electromagnetic anomalies. An intersection of 10% zinc over 10 ft., associated with a rhyolite horizon, was obtained previously on the 10-sq.-mile property.