Manitou Gold Receives Geophysical Survey Results for Sherridon And Canamerica Properties
May 31, 2010
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SUDBURY, ONTARIO – Manitou Gold Inc. (TSXV- MTU) (“Manitou”) reports that it has received preliminary survey results from the Induced Polarization (“IP”) and Magnetometer (“Mag”) ground geophysical programs on the Sherridon Property and 502 block of the Canamerica Property.
A total of 16 km of lincutting and ground surveys have been completed. Highlights of the geophysical surveys on the Sherridon Property include:
- 400 m long chargeability anomaly and magnetic anonaly coincident with a gold showing in the northwest portion of the grid.
- 600 m long chargeability anomaly coicindent with several gold showings in the central part of the property.
- 500 m long chargeability coincident with gold showings in the southeast part of the property which extends to the limits of the survey and will be extended.
- A complex magnetic pattern which suggests large scale fold patterns.
- A number of 200-300m long discrete chargeability anomalies.
A total of 37 km of line cutting and ground geophysical surveys have been completed on the Canamerica property. Highlights of the surveys on the 502 Block include:
- • 1100 m long chargeability anomaly coincident with the Quackenbush showing and Purple showings.
- • 400 m long chargeability anomaly along strike to gold showings.
- • A number of additional discrete well defined anomalies.
Manitou Gold completed a prospecting program on the Sherridon property to evaluate the potential of the project. A total of 243 grab samples were collected along an east-west oriented structure, which trends approximately 2 km across the property. Numerous high grade gold assays were retuned from six different areas along this 2 km long trend. Assay sample results ranged from trace to highs of 617.0 g/t Au, 184.5 g/t Au, 176.5 g/t Au. 123.0 g/t Au.
Manitou Gold completed mapping, sampling and prospecting on the 502 Bock of the Canamerica property. Results of the Canamerica sampling program, which was conducted over a 2 km long trend across the property, provided gold assays ranging from trace to 197.5 g/t Au, and 36.1 g/t Au from the Quackenbush No 2 shaft. The shaft occurs along this trend of high grade gold occurrences, which includes the Helena Shaft, and the Big Master Shaft.
Grab samples are, by nature, selective and are unlikely to represent average grades on the property.
Manitou is currently in the early phase of drilling on the Kenwest Project, having completed five holes proximal to the Big Master Mine trend. Manitou plans to complete prospecting, trenching, and diamond drilling on the 502 Block and Sherridon Property in 2010. Samples from the initial drill holes have been sent for assay and the Company will report on the results of the continuing drill program as they become available.
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’s largest shareholder is Goldcorp Inc, who holds a 15% interest in the Company.
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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.
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. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.