Manitou Gold Inc. Adds Depth to Exploration Team and Provides Exploration Update
August 16, 2012
Sudbury, ON – Manitou Gold Inc. (TSX-V: MTU) (“Manitou” or the “Company”) announces the addition of two highly experienced exploration geologists to work on and evolve the Company’s priority Gaffney Extension, Elora and Kenwest projects. They both have extensive experience and success working on gold exploration and mining projects and will provide valuable expertise concerning Manitou’s exploration programs.
Mike Roberts, P. Geo. is a consulting geologist with 25 years of exploration and mining experience. He has been involved in the implementation and supervision of numerous projects from grassroots prospecting to pre-feasibility and feasibility projects, and has worked on a number of Canada’s premier gold deposits, including Hemlo, Musselwhite, Eagle River and Detour Lake.
Pat Pope, P.Geo. is a consulting geologist with over 25 years of exploration experience on gold, nickel-copper sulphide and volcanogenic massive sulphide (VMS) base metal projects. He has extensive experience in geological mapping, surface and underground diamond drill planning, core logging, data verification and geological interpretation. Pat has worked on numerous gold deposits and mines including the Timmins West, Detour Lake deposit, Hoyle Pond and Dome mines, Fuller, Buffalo Ankerite, Paymaster and Preston deposits" and the Springpole Lake deposit.
Manitou President & CEO Todd Keast commented, “Pat and Mike have incredible hands on experience working on a wide range of high profile gold projects and operating gold mines throughout Ontario. I have had the pleasure of working with both of these talented individuals on a number of projects over the past 18 years and am very confident in their abilities. Exploration projects require ongoing geological review and evaluation and it will be a real benefit to tap into their skill and knowledge and apply it to our exploration programs.”
Diamond drilling on the Gaffney Extension has been in operation for the past four weeks. The Company expects to complete approximately 5,000 metres of drilling on the project to follow up on very positive drill results from last year’s exploration program, including the widest gold intersection to date in hole G-11-27 of 75.1 m averaging 2.4 g/t Au (see news release November 2, 2011). Nine holes (2,225 m) have now been completed with the drilling proceeding at a better than expected pace. Drill holes are now being targeted at a deeper level to evaluate this large scale mineralized gold system at the 300m to 500m vertical depth. A three dimensional model of the 2011 diamond drilling program with geological interpretation is available on the Company’s website. The model illustrates the gold mineralization and delineates the down plunge continuity of the zone. Results will be released as assays are received, compiled and interpreted.
The Company has completed the re-logging and re-sampling program on the recently acquired Elora Property which hosts two past producing gold mines, and sits adjacent to Manitou’s Kenwest Property. Thirty seven diamond drill holes (6,509 m) from the previous operators (1998, 2004, 2006 and 2008) have been re-logged and re-sampled, with 782 samples split for assay. The company is currently re-interpreting the data and expects to commence mechanical trenching and structural mapping within the next three weeks.
Todd Keast, P. Geo., is the Qualified Person as defined under NI 43-101 who has reviewed and is responsible for the technical information presented in this news release.
For further details about the Company’s projects please visit the Manitou website at www.manitougold.com.
For further information on Manitou Gold Inc. contact:
President and CEO
Manitou Gold Inc.
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.