Manitou Gold Initiates Follow up Phase of Drilling at Sherridon and Kenwest
October 19, 2010
Sudbury, ON – Manitou Gold Inc. (TSX-V: MTU) today reports that it has initiated a second phase of drilling on its Sherridon and Kenwest gold properties, located within the Upper Manitou Lake Area. This second phase of drilling will follow up on a number of the higher grade gold intersections from the first phase of drilling. Drilling will also be targeting untested IP anomalies and surface gold showings.
The Company considers the Sherridon Gold property to be a highly prospective property due to the following:
- Intersections of gold coincident with induced polarization ("IP") anomalies, with assay results ranging between trace and 25.3 g/t Au (see press release dated September 21, 2010).
- Identification of visible gold in a number of narrow shear zones intersected in 2010 summer drilling.
- Numerous IP anomalies identified in 2010 spring IP survey (including targets yet to be tested by drilling).
- High grade grab samples taken from the property during 2009 summer prospecting program, ranging from trace to 617 g/t Au (see press release dated April 19, 2010).
The Company believes that the close correlation of the IP anomalies to gold mineralization suggests strike continuity in excess of 600 metres, with many of the geophysical anomalies extending beyond the limits of the existing grid.
Based on encouraging initial results from exploration activities at Sherridon, the Company increased the size of the Sherridon Gold property this summer, staking an additional 220 claim units (3,250 ha) contiguous to the original Sherridon property.
Following this second phase of drilling at Sherridon, drilling will proceed to the Kenwest property to follow up on the high grade Kenwest drill intersection of 15.4 g/t Au over 6.1 metres in hole KW-10-13 (see July 7, 2010 press release). This hole was drilled along the Big Master Mine trend and tested a 400 metre long IP chargeability anomaly.
About Manitou Gold
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 individual 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.