Manitou Gold Initiates Geophysics on Gold Rock Mining Camp Portfolio
March 18, 2010
Not for dissemination into the United States or through U.S. news wire services.
Sudbury, ON – Manitou Gold Inc. (TSX-V: MTU) is pleased to announce that it has commenced a comprehensive geophysical survey on its extensive portfolio of properties in the Gold Rock Mining Camp, located in the Kenora Mining District, Northwestern Ontario.
The survey includes ground-based magnetic and induced polarization (“IP”) methods. Surveying was initiated on the Company’s Canamerica property and, once completed, will be extended over the Company’s Kenwest, Higbee and Sherridon properties.
All four gold exploration properties were the subject of a first phase comprehensive mapping and sampling work program in the summer of 2009. Brief descriptions of each of those properties, as well as their respective highlights from the 2009 summer program, are as follows:
Canamerica and Kenwest Properties
The Company’s Canamerica property is comprised of 13 mining claims totaling approximately 1,504 hectares located in the Boyer Lake area of the Kenora Mining Division of Ontario. The Company holds 100% interest in six of the mining claims and an option to acquire a 100% interest in the remaining seven mining claims, all subject to a 2.5% NSR.
The Company’s Kenwest property is comprised of 32 mineral claims and 10 mining licenses located in the District of Kenora, Ontario in which the Company holds a 100% interest through its wholly owned subsidiary, Kenwest Mines Limited.
During the 2009 summer field season, the Company collected 1742 grab samples from the Canamerica and Kenwest Properties. Assay results ranged from trace to 197 g/T Au, with 42% of the samples exceeding 0.5 g/T Au. 231 of the samples assayed in the range from 1.0 g/T to 5.0 g/T
The Company’s Higbee property is comprised of 19 mineral claims located in the Townships of Fisher Lake, Garnet Bay (Eagle Lake) and Line Lake, Ontario, in which the Company holds a 100% interest, subject to a 1% NSR.
During the 2009 summer field season, the Company collected over 214 grab samples from different areas on the Higbee Property, with assay results ranging from trace to 266 g/T Au. Fifty percent (50%) of the samples assayed greater than 0.5 g/T Au.
The Company’s Sherridon property is comprised of 3 claims located in the Mang Lake Area and Lower Manitou Area of Ontario, in which the Corporation holds an option to acquire a 100% interest (subject to a 2% NSR).
During the 2009 summer field season, the Company collected 243 grab samples from different areas on the Sherridon Property, with assay results ranging from trace to 617 g/T Au. Thirty-three percent (33%) of the samples assayed greater than 0.5 g/T Au.
The Company will announce the results of the geophysical surveying for each property, along with a more detailed discussion of each of these properties, as the results become available. The Company also anticipates that the results of this geophysical survey, combined with the geological knowledge gained in the 2009 field season, will provide prospective targets for an extensive drill program at its various properties.
About Manitou Gold Inc.
Manitou Gold Inc. is a gold exploration company focused with a dominant land position in the Gold Rock Mining Camp, located in the Kenora Mining District, in Northwestern Ontario.
The Company is well funded, having recently completed a $2 million initial public offering. The Company’s largest shareholder is Goldcorp Inc, who holds a 15% interest in the Company.
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