Manitou Gold Intersects 7.0 g/t Au over 1.8m
May 8, 2012
Sudbury, ON – Manitou Gold Inc. (TSX-V: MTU) (“Manitou”) announces the receipt of assay results from the final 14 of the 26 diamond drill holes completed during the winter drill program on the Kenwest Property located in Northwestern Ontario. The winter drill program focused on evaluating the #1 and #2 shear zones along a section of low ground accessible only during the winter months. Based on the results of this drilling, in conjunction with the previous summers’ programs, the Company has now delineated a 275 m long zone of gold mineralization traced to a vertical depth of approximately 100 m. The mineralization remains open at depth and will require further evaluation to determine its full vertical extent.
Recent drill results on the #2 shear include 2.2 g/t Au over 5.4 m in hole KW-12-91, 2.0 g/t Au over 5.4 m in hole KW-12-92, 1.4 g/t Au over 8.5 m in hole KW-12-100 and 7.0 g/t Au over 1.8 m in hole KW-12-101. Gold mineralization was also intersected on the #1 Shear in this area of low ground. Drill hole results on the #1 Shear include 5.6 g/t Au over 3.5 m in hole KW-12-98 and 1.0 g/t Au over 4.8 m in hole KW-12-96. Drilling in the low area has now been completed, with a high proportion of the holes returning significant gold values. The new results have been incorporated on the longitudinal section which can be viewed on the Company’s website at www.manitougold.com. Highlights from the fourteen drill holes can be found in the table below. The down plunge continuity of this new zone of gold mineralization will be tested with step out holes outside of the low ground area, during the upcoming summer exploration program.
Manitou Gold has identified a number of discrete “shoots” of gold mineralization, two of which are positioned along the #1 Shear, and both are approximately 100 m in strike length with a steep near vertical plunge component. The historical mining at the Big Master #1 shaft represents a third shoot which Manitou will begin to evaluate at depth in this next phase of work. This newest discovery along the #2 Shear extends the strike component and indicates additional potential along this underexplored structure.
“The drill results along this 275 m trend further demonstrate the exceptional exploration potential for Manitou Gold to identify a multitude of high grade shoots.” Commented Manitou Gold President, Todd Keast, “With the recent acquisition of the Elora Patents from Seafield Resources, as reported on April 24, 2012, we are confident that we will be able to efficiently identify and delineate a number of new discoveries. It may be significant that a 300 m wide section between the Big Master Mine on the Kenwest Property and the past producing Laurentian Mine on the Elora Patents has never been explored. The historical property boundaries hindered work in this location, as can be seen from the figure on the Elora page of the Company’s website at www.manitougold.com. The high density of shafts in the area, the shallow level of exploration and development, and the relative large size (800 m width) of the zone containing the multiple gold bearing shear zones are all positive indicators of the exploration potential.”
Table: Summary of recent Kenwest drill results
|DDH #||From (m)||To (m)||Length (m)||Au (g/t)||Zone|
1. Hole KW-12-104 returned no significant assays
2. Intervals reported are core lengths; true widths of mineralization are not known.
In addition to those holes reported in this release, the Company has also completed an additional 7 holes on the Sherridon Project. Assay results from these drill holes are pending and will be released as soon as they become available.
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.