Manitou Announces Two New Gold Discoveries
September 8, 2011
Sudbury, ON – Manitou Gold Inc. (TSX-V: MTU) (“Manitou”) announces the discovery of two new gold showings on its Kenwest Project. The discoveries occurred while conducting diamond drilling and surface trenching during the course of the ongoing summer exploration programs. One of the showings was discovered during the systematic channel sampling along a 210 m long trench on the #2 Shear Zone. The second showing, which consists of visible gold, was intersected in drill core while testing the down dip continuity of several known gold bearing structures. These new gold discoveries represent different styles and positions of gold mineralization that have not been previously recognized and further demonstrate the exceptional gold exploration potential at Kenwest.
Visible Gold in Drill Core
Coarse visible gold was intersected in the recently completed diamond drill hole KW-11-69. The hole was designed to test the down dip continuity of the #1 and #2 shear structures, below the vertical limit of the historical shafts. Coarse gold was identified within a section of shearing and quartz veining developed along the contact of two volcanic rock units. The discovery is positioned approximately 40 m east of the #2 shear zone at a vertical depth of approximately 225 m, and is not related to the #2 shear zone. The concentration of gold along the volcanic contact represents a new exploration target, which has only been tested with the single hole (KW-11-69). Assay results have not been received for this drill core. However, the coarse nature and high visible gold content of the core indicates that additional drilling will be required to evaluate this area (see photos on Company website atwww.manitougold.com).
Sulphide Rich Zone Along #2 Shear
Gold mineralization was also identified while completing a series of channel sample saw cuts along the 210 m long extent of the surface trench co-incident with the #2 shear. The trench was excavated in order to evaluate the area immediately around drill hole KW-11-26, which intersected 53.7 kg/t Au over 0.55 m (see press release Feb 28, 2011). The southwestern section of the trench exposed an area containing 15-20% sulphides with only minimal quartz veins. A series of continuous channel sample saw cuts across the width of the shear returned gold assay averages of 11.2 g/t Au over 2.0 m, 7.0 g/t Au over 3.5 m, 4.9 g/t Au over 5.5 m, 4.0 g/t Au over 5.0 m. The channels are spaced approximately 5 m apart, along a 25 metre section of the trench. The extent of the mineralization is not fully defined, as the trench exposure runs into a low swampy area. The high sulphide, low quartz vein content is a new style of gold mineralization on the Kenwest Property. The majority of gold mineralization identified to date has been associated with quartz veins with low (1-3%) sulphide content. This sulphide enriched area, which is located 70 m away from the surface projection of the high grade intersection in drill hole KW-11-26, has not been previously drill tested and represents an exceptional exploration target. A summary of assay averages from the channel sampling program can be found in Table 1 below.
|Table 1: Summary of significant channel sampling assays|
|Channel #||East||North||Au g/t||Metres||Location|
|Channel 1||522080||5476620||7.0||3.5||Sulphide Zone|
|Channel 2||522086||5476616||1.4||6.0||Sulphide Zone|
|Channel 10||522072||5476599||5.0||5.5||Sulphide Zone|
|Channel 11||522073||5476600||4.0||5.0||Sulphide Zone|
|Channel 12||522081||5476609||2.7||3.5||Sulphide Zone|
|Channel 13||522081||5476610||11.2||2.0||Sulphide Zone|
|Channel 15||522138||5476684||0.8||3.3||Hole 26|
|Channel 16||522143||5476683||1.0||3.2||Hole 26|
|Channel 17||522142||5476687||1.0||2.9||Hole 26|
|Channel 18||522146||5466843||0.1||2.3||Hole 26|
|Channel 19||522146||5476694||0.3||3.2||Hole 26|
The channel sample results immediately above the high grade drill intersection of hole KW-11-26 returned anomalous yet relatively low assay results of 1.0 g/t Au over 3.2 m. The erratic “nuggety” distribution of gold is a common aspect of lode gold deposits, as exemplified by the high grade intersection in KW-11-26 of 53.7 kg/t Au over 0.55 m, located approximately 25 m below the surface channel sample of 1.0 g/t Au over 3.2 m.
Update on Drilling around High grade intersection in KW-11-26
The Company has completed 18 diamond drill holes around the high grade intersections in KW-11-26. The assay results from these holes are expected shortly and will help determine continuity of the high grade system. The Company expects to be able to release a first batch of assay results from this drilling in the near future.
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. Core 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.