Manitou Gold grab sample 197.5 g/t Au from Canamerica Property
April 13, 2010
Sudbury, ON – Manitou Gold Inc. (TSX-V: MTU) is pleased to provide assay results from the initial prospecting program on its Canamerica Property. Canamerica consists of twelve unpatented mining claims adjacent to Manitou’s Kenwest Property, the latter of which hosts the Big Master Mine (See Press release dated March 31, 2010). The Canamerica project is situated within the Kenora Mining Division of northwestern Ontario.
Past exploration on the Canamerica property by prior operators included prospecting, sampling, limited diamond drilling and the sinking of a number of shallow pits and shafts. In 2009, Manitou Gold completed mapping, sampling and prospecting on five known gold showings (D, E, F, Open Cut, and Quackenbush) and identified five new zones of gold mineralization (Long Line, Picnic Point, Quartz Mayhem, Purple Trend and Cubic). Highlights of the sampling program include gold assays of 197.5 g/t Au, and 36.1 g/t Au from the Quackenbush No 2 shaft. The Quackenbush shaft was sunk to a depth of 20 metres with unknown underground development and production. The shaft is located along a 2 km long trend of high grade gold occurrences which includes the Helena Shaft, and the Big Master Mine (See release dated March 31, 2010).
Grades of all samples taken from this area ranged from trace to 197.5 g/t Au. Assay result highlights from the Manitou sampling program are included in Table 1.
Table 1 – Grab Sample Assay Result Highlights
|Sample #||Easting||Northing||Zone||g/t Au|
|Sample #||Easting||Northing||Zone||g/t Au|
|Grab samples are, by nature, selective and are unlikely to represent average grades on the property.|
In addition to the typical high grade lode gold quartz veins as observed at the Quackenbush shaft, many of the mapped gold zones are contained within felsic dikes. The dikes are 5-10 metres in width, have a tabular orientation, and exhibit very good continuity. The gold bearing dikes provide an exceptional opportunity to identify large tonnage, near surface opportunities. In 1987, CanAmerica Precious Metals Inc. completed a diamond drill program to evaluate the E and F zones. Fourteen drill holes intersected lower grade gold values throughout the width of the zone, the results of which are summarized in Table 2. CanAmerica Precious Metals Inc. completed a resource estimate on the E Zone, outlining a range of estimates between 143,685 tonnes grading 5.21g/t Au to 529,650 tonnes grading 3.20g/t Au (Fox, 1987, considered to be historic estimates pursuant to National Instrument 43-101 - see additional disclosure below).
Table 2 - Canamerica Precious Metals Inc. 1987 Drill Results E Zone
|DDH #||From m||To m||Width||Au g/t|
Manitou Gold is currently completing ground magnetometer and induced polarization surveys on this and other projects in the area, in preparation for a summer drill program.
About Manitou Gold Inc.
Manitou Gold Inc. is a gold exploration company 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.
For further information on Manitou Gold Inc. contact:
The Qualified Person responsible for the technical content of this news release is Todd Keast, P. Geo., Vice President, Exploration of Manitou Gold Inc. Mr. Keast has verified all of the technical data contained in this release. There has been insufficient exploration to define a mineral resource on any of the properties of the Company to date and it is uncertain if further exploration will result in any such properties being delineated as mineral resources. For further details on the Company's Canamerica property, please refer to the final long form prospectus of the Company dated February 16, 2010 available on SEDAR at www.sedar.com.
The Company has implemented a quality control program to ensure best practice in sampling and analysis. Assayed samples are transported in security sealed bags for preparation and analysis at ALS Chemex facilities. ALS Chemex is an ISO 9001-2000 and ISO 17025 registered laboratory. A prepared sample is digested with aqua regia. The resulting solution is analyzed by inductively coupled plasma-atomic emission spectrometry.
The Company considers historical estimates to be relevant, as they provide an indication of historical mineralization having existed on the Company's property. However, the Company is not treating these historical estimates as current resources. This historical estimate should not be relied upon by any party as an indication of a current resource.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates and that the resource potential will be achieved on exploration projects, currency fluctuations, dependence upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers should also refer to the specific factors disclosed under the heading "Risk Factors" in the Company's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.