Dec 4 2010
Manitou Gold Inc. (TSX VENTURE:MTU) today reported diamond drill assay results from the Sherridon Property, located within the Upper Manitou Lake Area of the Kenora Mining Division.
The Company has received assay results for six diamond drill holes as part of a nine hole (1,914 m) second phase drill program, designed to evaluate this newly identified area of multiple gold showings. Assays are pending for the remaining three holes.
Gold bearing quartz veins have been identified within a broad envelope of gold mineralization, which varies in thickness between 50 m and 120 m and measures 150 m along an east/west strike direction and 200 m in a down dip direction. The envelope of gold mineralization remains open to the east, west and down dip. Sixteen occurrences of visible gold were encountered in five of the six holes.
Highlights of intersections that were the basis for the initial delineation of this broad envelope of gold mineralization consist of the following:
- 46.0 g/t Au over 0.5 m in hole SH-10-12;
- 14.3 g/t Au over 0.5 m, in hole SH-10-12;
- 2.9 g/t Au over 2.5 m in hole SH-10-12;
- 8.0 g/t Au over 0.8 m in hole SH-10-12;
- 4.6 g/t Au over 2.5 m in hole SH-10-15;
- 23.0 g/t Au over 0.5 m in hole SH-10-15;
- 2.6 g/t Au over 4.8 m in hole SH-10-15;
- 11.5 g/t Au over 0.7 m in hole SH-10-15;
- 5.0 g/t Au over 1.0 m in hole SH-10-15;
- 10.3 g/t Au over 0.5 m in hole SH-10-16;
- 1.9 g/t Au over 1.0 m, and in hole SH-10-16; and
- 5.7 g/t Au over 1.0 m in hole SH-10-16.
Hole SH-10-12 is located 100 m east of SH-10-5 (see press release dated Sept 20, 2010), which intersected 19.7 g/t Au over 0.8 m, 7.6 g/t Au over 0.5 m, 5.7 g/t Au over 2.4 m and 25.3 g/t 0.5 m.
Encouraged by the results of this second phase of drilling at Sherridon, the Company has initiated exploration on the extensions of this envelope of gold mineralization. Ground geophysical surveys (induced polarization or "IP") are planned for early 2011, with further drilling to follow. IP surveys have shown to be an effective exploration tool on the Sherridon Project for identifying and tracing the sulphide bearing shear zones hosting the gold mineralization.
The Company is currently drilling at the Canamerica Project on the Little Master Area. The Little Master Shaft is located 3.2 km northeast of the Big Master Mine, within the Manitou Straits Deformation Zone. The history and details of the Little Master operation is unknown as records were not preserved by previous operators. The shaft was sunk on a quartz vein system that has been traced on surface for 50 metres until it extends below overburden. Assay values from previous grab samples ranged from 2.6 g/t to 169.0 g/t Au with a number of highly anomalous samples. The Little Master gold bearing vein is located along the flanks of a 600 metre long IP anomaly. Assay results on this drilling at Canamerica, as well as the balance of the Sherridon second phase drilling, will be released once received.
The gold showings associated with the Sherridon Project were discovered in 2009 and represent a new gold discovery. The property has not received any past documented exploration activities and the region is largely underexplored. Past exploration activities in the Upper and Lower Manitou areas filed with the Ministry of Northern Development, Mines, and Forestry includes only 310 diamond drill holes with an average depth of 80 metres. The relatively low drill density for this area approximates one drill hole per 5 square kilometers, which emphasizes the underexplored nature of this area.
The Company recognized a number of characteristics of the Manitou Straits Deformation Zone, which favorably compare with the major gold camps of the Abitibi subprovince. The Company considers these characteristics to be positive in that they confirm that the Company is exploring in a relatively underexplored setting that has the potential of hosting an economic gold deposit.
The Qualified Person responsible for the technical content of this news release is Todd Keast, P. Geo., Vice President, Exploration of Manitou Gold Inc. Mr. Keast has verified all of the technical data contained in this release.