Manitou Gold Inc. Exploration Update
Sudbury, ON â€" August 8, 2013 - Manitou Gold Inc. (TSX-V: MTU) (“Manitou” or the “Company”) is currently conducting exploration programs on the Kenwest, Elora, and Canamerica Projects.Â (See property map attached).Â Exploration activities, which began in early June, include geochemical surveys, mechanical trenching, structural mapping, and channel sampling.Â Gold mineralization has been identified previously through diamond drilling and prospecting work on the majority of the eight known structures. Â The current programs target areas along strike and in areas with no outcrop exposure or previous drilling.Â Â Â
The original 15.5 kilometre Elora Grid was re-established in order to allow for the accurate use of the historical Elora database. Â A geochemical survey consisting of approximately 235 samples was completed over the Jubilee Zone (Elora Property) and portions of the #1 and #2 shear zones (Kenwest Property).Â Â Â The preliminary results from this survey have identified a robust anomaly, in an area with very little past work, along the Elora/Kenwest boundary. The geochemical survey has been expanded with an additional 300 samples currently being collected to better define and trace the extent of the anomaly.
Channel sampling and detailed mapping have been completed on the Elora trenches.Â A total of 212 channel and grab samples have been collected from the exposures. Â Results from this work are currently being interpreted.
Channel sampling has also been completed on the historical “Sovereign Main Vein” showing located near Peak Lake on the Canamerica (502 Block) Property.Â Previous grab samples collected from this zone by Manitou returned results as high as 495 g/t Au from a historical pit.Â Numerous quartz veins have been uncovered by mechanical trenching, and channel sampling has been conducted to ascertain the gold bearing veins.
Todd Keast, President and CEO of Manitou commented, “During the past twelve months Manitou has significantly reduced corporate and general administrative costs while at the same time maintaining cost effective exploration programs. The winter diamond drill program at Elora was suspended in March due to the arrival of spring. (See news release May 9, 2013 for results).Â The drill rig remains on site and drilling will recommence once the current exploration programs are completed.”
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.Â
Manitou is a Canadian exploration company with a 152 square kilometre land package of highly prospective gold properties located in the historical Gold Rock District, in Northwestern Ontario.Â This under-explored area has a very attractive geological setting hosting 61 known gold occurrences including three past producing mines (Big Master, Laurentian and Elora).Â Until recently, the area has remained relatively untouched by modern-day exploration, pointing to excellent discovery potential over this large land package.
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:
Todd Keast, P. Geo.
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.