Manitou Gold Commences Diamond Drill Program on Higbee Gold Project
May 10, 2011
Sudbury, ON – Manitou Gold Inc. (TSX-V: MTU) (“Manitou”) reports the start up of a diamond drill program on the Higbee Project, located within the Kenora Mining Division of Northwestern Ontario. The program will test several high grade gold showings. Gold showings on the Higbee Project have been sporadically prospected over the past 125 years, resulting in the discovery of numerous high grade gold showings, with grab sample assay results ranging from nil to 189.7 g/t Au.
Highlights of past exploration on Higbee Property
In 1902, an adit was driven along a quartz vein contained within a 1 m wide shear structure located on the southeast side of Higbee Lake (the “S.500 occurrence”). This shear structure is oriented in an east-west direction and intersects a larger 10 m wide oblique shear structure oriented north-south. Apart from the adit, results of this early work were not documented.
Between 1988 and 1995, a local prospector (B. Barton) completed numerous prospecting programs, including small scale trenching and sampling along both shear structures around the S.500 occurrence. Grab samples of this work returned values ranging from nil to 176.9 g/t Au (Barton, 1988-1995; various assessment reports). Two short packsack drill holes (1995) on the 10 m wide shear returned an assay of 16.9 g/t Au over 0.30 m in Hole #1 (4.5 m in length) and 7.9 g/t Au over 0.12 m in Hole #2 (2.4 m in length). The 10 m wide shear was only partially tested, due to the shortness of the holes, combined with the limited sampling of the core. A second high-grade gold showing, known as the Barton occurrence, was identified adjacent to a small lake approximately 2.5 km to the northeast of the S.500 occurrence. Historical grab sample assay results from this area include values as high as 189.7 g/t Au (Barton, 1995; assessment report).
In 1990, the Ontario Geological Survey (OGS Open File Report 5731) completed a brief geological investigation around the S.500 adit area. Grab samples from this program returned assay results ranging from nil to 64.45 g/t Au. Delisle (1990) reported that the gold-bearing quartz veins are hosted by a “carbonatized quartz-diorite which contains blue quartz eyes” with the “primary texture of the quartz-diorite strongly masked and overprinted by pervasive ankerite alteration.”
In 2009, the District Geologist from the Ministry of Northern Development and Mines (MNDMF Open File Report 6244) completed a brief geological investigation. The report mentions “pervasive carbonate alteration and the presence of 1-3% disseminated pyrite.” Grab samples from the S.500 occurrence returned assay results ranging between nil and 69.95 g/t Au.
During the fall of 2009, Manitou gold completed a prospecting program to evaluate the S.500 and Barton occurrences. Both shear structures associated with the adit at the S.500 were recognized to contain high grade concentrations of gold within quartz veins and lower grade gold within the enveloping sericite carbonate schist. Manitou grab sample results from the S.500 area confirmed the high grade nature of gold mineralization, with grab sample assay results ranging from nil to 159 g/t Au. In addition, grab samples collected from the Barton occurrence by Manitou Gold returned values ranging from nil to 266 g/t Au. A map illustrating the known gold zones on the Higbee property can be seen at the Company’s website at: www.manitougold.com/higbee.html.
Current Drill Program at Higbee
The prospective north-south oriented shear structures are situated entirely within a quartz diorite intrusion. The gold bearing shear zones have received minimal exploration work. The limited prospecting efforts to date have returned high grade gold assay results. Because the shear structures display considerable width and strike continuity, the Company considers the structures to be highly prospective. Both the S.500 occurrence and the Barton occurrence will be tested during the current Manitou drilling program in order to delineate the down dip and along strike continuity of the mineralized shear zones. The drill program is planned to consist of 500 m of drilling and is expected to take two weeks to complete.
Regional Exploration Update
Diamond drilling is scheduled to commence at the Kenwest Project in mid-May, when the Higbee drilling is completed. Drilling on Kenwest will follow up on the previously identified areas that have high grade gold intersections, indicating the presence of discrete shoots of gold mineralization. Drill hole spacing is intended to provide broad definition and down plunge continuity of these shoots. In addition, a contractor has been engaged to complete a detailed ground geophysical survey over the high grade gold intersection of 53.7 kg/t over 0.55 m in hole KW-11-26 (see press release Feb 28, 2011). The survey may provide significant insight into the continuity and orientation of the conductive gold mineralization intersected in hole KW-11-26. Surface trenching is also planned to provide additional structural information on this exceptional high grade intersection.
Preparations for the drilling program on the Gaffney Extension Project are also underway. A barge for the drill program has been contracted, with modifications to the barge underway. A drill contractor with considerable barge drilling experience has been contracted to perform the drilling. The drilling program is planned to commence in late May, following the completion of equipment modifications and breakup of the ice on Lower Manitou Lake.
On the Sherridon project, line cutting is currently underway as part of an overall expansion of the exploration area. Multiple visible gold intersections in the past two phases of diamond drilling suggest the potential of a proximal larger gold bearing system. The extension of the line cutting, with plans for follow-up ground geophysical surveys, will produce additional targets for future exploration and diamond drilling.
For further information on Manitou Gold Inc. contact:
Manitou Gold Inc.
Director, Corporate Communications
Manitou Gold Inc.
The Qualified Person responsible for the technical content of this news release is Todd Keast, P. Geo., President 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. Ccre samples were analyzed for gold by 30-gm fire assay with AA finish and by gravimetric methods. Samples with visible gold are assayed by screened total metallics.
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.