Manitou Gold Inc. Gaffney Exploration Update
Sudbury, ON â€" November 7, 2013 - Manitou Gold Inc. (TSX-V: MTU) (“Manitou” or the “Company”) announces that a field exploration program is currently underway on the recently purchased Gaffney Patents property situated in the Lower Manitou Lake area of Northwestern Ontario.Â The Gaffney Patents property is positioned on Manitou Island adjacent to the company’s Gaffney Extension property (see map).Â Surface gold showings on the Gaffney Patents are interpreted to project onto the Gaffney Extension.Â The company has been exploring this gold system since 2011 with very encouraging results from two phases of diamond drilling (2011 and 2012) totalling twelve thousand metres. (Click here for drill results:Â http://manitougold.com/projects/gaffney-extension/results/ ).
The current exploration program began in late October and focused on locating and sampling a series of trenches identified on a 1943 Sylvanite Gold Mines Ltd. sampling assay plan map (see map).Â The trenches are spaced along a 375 metre long trend and are heavily overgrown (click here for photos:Â http://manitougold.com/projects/gaffney-extension/photos/ ).Â The sampling program and additional exploration activities will continue until weather conditions deteriorate.
Exploration records for the Gaffney Patents, dating back to 1933, include geological reports, diamond drill logs, basic geologic maps with assay plans of several trenches, as well as newspaper articles.Â These documents provide valuable information on the previous exploration efforts on the property.Â Many of the historical documents can be found on the company’s website. (http://manitougold.com/projects/gaffney-extension/historical/ ).Â
The acquisition of the Gaffney Patents property allows Manitou access to the potential surface projection of gold mineralization intersected in diamond drilling on the Gaffney Extension property.Â Compilation of historical data, in conjunction with results obtained from surface sampling currently under way on the Gaffney Patents property, will assist in a better geological understanding of potential structural controls on the gold mineralization and will also help to focus future exploration programs on both the newly acquired Gaffney Patents property as well as the Company’s Gaffney Extension property.
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
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.