Manitou Gold Inc. Samples 40.9 g/t Au On Gaffney Patents
Sudbury, ON – September 12, 2014 - Manitou Gold Inc. (TSX-V: MTU) (“Manitou” or the “Company”) announces the receipt of assay results from the ongoing exploration program on the Gaffney Patents Project. The company is currently conducting mapping and prospecting programs.
Field work has discovered and traced a 300 metre long extension to the main north-south trending gold bearing quartz feldspar porphyry (QFP) dyke. A total of 42 grab samples along the discovery returned gold assay results ranging from 0.3 g/t Au to a high of 40.9 g/t Au. During previous phases of diamond drilling by the Company, it was noted that the distinct north-south oriented QFP dyke contained gold mineralization. The total length of the QFP dyke is now known to be approximately 500 metres based on these prospecting results and the Company’s previous diamond drill intersections. The dyke extends into the water on both its north and south extensions for unknown distances.
A new area of gold mineralization was discovered on the western portion of Manitou Island during this current program. This area was identified as a prospective target based on the occurrence of north-south oriented QFP dykes similar to the main dyke adjacent to the historical Gaffney shaft. An initial examination of this area has identified two QFP dykes which contain anomalous gold values ranging from nil to 1.2 g/t Au. Further work is needed on this area to determine the orientation and strike extents of the QFP dykes.
Todd Keast, President & CEO commented “As we explore the Gaffney Patents Project, new very prospective exploration targets such as the continuation of the north-south QFP dyke area continue to be identified. It is significant that the average grade of the 42 grab samples from such a relatively raw prospect returned 3.5 g/t Au, indicating the evidence of a robust gold mineralization system.“
Todd Keast has also begun posting President’s updates on the Company’s website to provide shareholders with regular information on exploration and corporate activities. They can be viewed at: http://manitougold.com/investors/presidents_message/.
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.
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. 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.
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.