Manitou Gold Intersects 53.7 Kilograms Gold per Tonne over 0.55 metres
February 28, 2011
Sudbury, ON – Manitou Gold Inc. (TSX-V: MTU) (“Manitou”) today reported the intersection of53.7 kg/t Au (53,700 g/t Au) over a core length of 0.55 metres in hole KW-11-26. This hole is part of an ongoing diamond drill program at the Kenwest Property, located in the Kenora Mining Division in Northwestern Ontario.
This remarkable 53.7 kg Au per Tonne (1,566 ounces/ton) intersection in hole KW-11-26 is part of a
8.45 m wide section of quartz veining contained within a broad alteration zone in the #2 Gold Structure. This gold is located only 45 meters below surface. At such a shallow level, Manitou Gold has attractive options for development of this zone.
Hole KW-11-26 intersected 8.45 meters of mineralization averaging 4.9 g/t Au with the high grade sample cut to 50 g/t. On an uncut basis this interval averages 3,497 g/t Au. Individual assays for the 8.45 m section interval are included below.
|Table: Summary of hole KW-11-26 assays in #2 Gold Structure|
(cut to 50 g/t)
|Note: Intervals reported are core lengths; true widths of mineralization are not known|
The location of the drill holes with respect to the #1 Gold Structure and the #2 Gold Structure are indicated on the surface plan map on the Manitou Gold website at www.manitougold.com. Additional figures on the website include: longitudinal sections indicating gold intersections along both the #1 Gold Structure and the #2 Gold Structure, photographs of the gold in drill core, the gold bearing alteration zone, the gold beads from the analysis of the highest grade section of drill core, and the associated assay certificate.
Further details regarding the #1 Gold Structure and the #2 Gold Structure, which are also illustrated in a long section on the Company’s website, are provided below
#1 Gold Structure
The Big Master Mine is located along the #1 Gold Structure, where the majority of the historical mining was concentrated. Manitou Gold intersected 15.4 g/t Au over 6.1 m in hole KW-10-13 while testing the extension of the structure (see press release dated July 7, 2010). This intersection is located 800 m northeast of the Big Master shaft, well beyond the limits of historic underground mining operations. The Company recently recovered previously unknown historical records, which included underground drill results from the 183m level (see press release dated January 12, 2011). Historical drill hole assays included 9.7 g/t Au over 3.6 m in hole U-39, 12.2 g/t Au over 1.7 m in hole U-33 and 34.7 g/t Au over 2.4 m in hole U-36, all of which outline a discrete zone of gold mineralization approximately 100 m long along the #1 Gold Structure.
Drill holes KW-11-25 and KW 11-26 were designed to evaluate the zone of gold mineralization indicated by historical records. Hole KW-11-25 intersected 6.2 g/t Au over a core length of 4.1 m from 297.4 m to 301.5 m, which included seven occurrences of visible gold which assayed21.4 g/t Au over 1.05 m from
299.45 m. The second hole of the current program, KW-11-26 intersected 12.0 g/t Au over a core length of 2.7 m at 219 m. The position of these two holes extends the limits of the zone of gold mineralization 45 metres vertically below and 55 m northeast of the zone outlined in 1947. This gold zone is now known to extend for 155 meters along strike and 45 meters down dip.
#2 Gold Structure
The #2 Gold Structure has been sparsely tested by Manitou Gold with only 7 drill holes (KW-10-01; KW-10-09; KW-10-10; KW-10-12; KW-10-14; KW-11-25 and KW-11-26) spaced along a 700 metre long interval. Hole KW-11-25, which intersected 0.8 g/t Au over a core length of 2.6 m, is located 50 m southwest and 75 m behind hole KW-11-26. The intersection in hole KW-11-26 of3,497 g/t Au over 4.9 m (including 53,700 g/t Au over 0.55 m) demonstrates the presence of high grade gold mineralization defined by elongated “shoots”, a common feature of lode gold deposits.
Due to the extremely high grade nature of the sample of the 0.55 m intersection from 55.90 m to 56.45 m in hole KW-11-26, the following procedures were undertaken in the preparation and assaying of that sample: The entire sample was crushed and pulverized and the crushing specification was > 70% passing 6mm; the pulverized sample was then screened to 100um to produce a plus fraction and minus fraction. The entire plus fraction was assayed by a 50g fire assay gravimetric method and the undersize was assayed in duplicate by a 50g fire assay gravimetric method. Assay checks were not performed on this sample, as the entire sample was consumed in the completion of the analysis. However, the Company has retained the other half of the split core and has received the gold beads from the assay lab. Procedures for preparing and sampling are otherwise as further described at the end of this press release.
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.
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.
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. In respect of the sample from the 0.55 m intersection from 55.90 m to56.45 m in hole KW-11-26, the following procedures were undertaken in the preparation and assaying of that sample, due to the anticipated high grade: The entire sample was crushed and pulverized and the crushing specification was > 70% passing 6mm; the pulverized sample was then screened to 100um to produce a plus fraction and minus fraction. The entire plus fraction was assayed by a 50g fire assay gravimetric method and the undersize was assayed in duplicate by a 50g fire assay gravimetric method. For all other samples, 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