Manitou Gold Provides Update on Diamond Drilling at Kenwest
August 19, 2010
Sudbury, ON – Manitou Gold Inc. (TSX-V: MTU) today reports assay results from eleven diamond drill holes recently completed on the Kenwest Property in northwestern Ontario.
These eleven holes represent the completion of the first phase of drilling on the property, which totaled 24 holes. The widely spaced drill program was designed to test known gold mineralization proximal to past mining operations, evaluate new gold showings, and test geophysical anomalies identified in recently completed surveys. There is no record of exploration on the property since mining operations were halted in the 1930’s. Results to date have identified a number of gold bearing structures with potential for hosting multiple lenses of gold mineralization.
Diamond drill hole KW 10-13 intersected significant mineralization consisting of 15.4 g/t Au over 6.1 m (see press release dated July 7, 2010). Hole KW-10-14, drilled 65 metres down dip of hole KW-10-14, intersected a 5.8 metre wide shear zone, intersecting 4.8 g/t Au over 2.7m (including 12.7 g/t Au over 0.6m) (see Figure 1: Cross Section). This intersection demonstrates the down dip continuity of the initial gold discovery, and suggests the presence of discrete “mineralized shoots” of limited strike extent typical of lode gold deposits. The “mineralized shoots” are further suggested by the past mining activities of the Big Master #1 and Big Master #2 deposits, which display limited strike extent to the mineralized zones with an elongate down dip component.
A summary of the results of drilling from holes 14 to 24 on the Kenwest Property are detailed in the following table:
|Table 1: Summary of significant drill assay results|
|DDH||From||To||Width (m)||Au g/t|
1. Holes KW-10-17, KW-10-20 and KW-10-23 did not return significant assays.
2. Intervals reported are core lengths; true widths of mineralization are not known.
The favorable gold bearing structures appear to have exceptional continuity along strike, and contain silica flooding, quartz veining, carbonate and sericite alteration, with visible gold identified in a number of holes. Sulphide mineralization associated with the gold bearing structure is coincident with a prominent 400 metre long IP chargeability anomaly, and presents an exceptional exploration target for follow up drilling (See Figure 2: Plan Map).
Drilling has now moved onto the adjacent Canamerica Property, where 10 holes have been completed, in order to test the E and F zones. The E-zone has an historical resource with estimates of 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). The Company anticipates releasing results from this first phase of Canamerica drilling as they become available in the near future.
About Manitou Gold Inc.
Manitou Gold Inc. is a well-funded 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’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.
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.
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.