Manitou Gold Inc. Extends #2 Shear Gold Mineralization for 300 Metres
28.03.2012 | Marketwire
SUDBURY, ONTARIO -- (Marketwire - March 28, 2012) - Manitou Gold Inc. (TSX VENTURE: MTU) ("Manitou") announces the receipt of assay results from 12 of 26 diamond drill holes recently completed on the Kenwest Property located in Northwestern Ontario. The winter phase of exploration was focused on evaluating the #2 Shear Zone in a section of low ground accessible only during the winter months while the ground is frozen.The shallow drill holes targeting the #2 Shear Zone all returned appreciable intervals of gold mineralization and, together with the Company's previous drilling and channel sampling results, indicate a continuous section of mineralization approximately 300 metres along strike, to a vertical depth of 100 metres. Drill hole results include 2.9 g/t Au over 9.4 m in hole KW-12-84, 4.7 g/t Au over 3.5 m in KW-12-86, and 5.1 g/t Au over 2.7 m in hole KW-12-88. The intersections reported from the #2 Shear Zone range in depths from 35 m to 100 m vertical. A plan map of the drill locations and a longitudinal section are included and can be viewed on the Company's website at www.manitougold.com\kenwest.html. Highlights from these twelve holes can be found in the following table.
Table: Summary of Kenwest drill holes
DDH # From (m) To (m) Width (m) Au (g/t) Zone
KW-12-79 351.6 352.4 0.8 4.89 #1 Shear
KW-12-80 158.4 163.5 5.1 2.83 #2 Shear
-including 158.4 159.7 1.3 8.26 #2 Shear
KW-12-80 266.6 272.5 5.9 0.62 #1 Shear
KW-12-81 33.0 40.8 7.8 0.91 #2 Shear
KW-12-82 51.0 55.0 4.0 1.71 #2 Shear
KW-12-83 110.5 111.5 1.0 3.10 #2 Shear
KW-12-83 145.0 146.0 1.0 1.76 #1 shear
KW-12-84 17.5 26.9 9.4 2.92 #2 Shear
-including 19.8 22.5 2.7 6.16 #2 Shear
KW-12-85 86.5 87.5 1.0 0.88 #2 Shear
KW-12-86 85.3 88.8 3.5 4.67 #2 Shear
KW-12-87 104.5 107.0 2.5 3.99 #2 Shear
KW-12-87 112.8 115.0 2.8 0.58 #2 Shear
KW-12-88 56.2 58.8 2.7 5.10 #2 Shear
KW-12-89 88.5 97.0 8.5 1.08 #2 Shear
KW-12-90 46.6 51.6 5.0 3.75 #2 Shear
Note: Intervals reported are core lengths; true widths of mineralization are not known.
The #2 Shear displays exceptional potential to extend the mineralization along strike and down plunge. A number of "shoots" of higher grade material on the parallel #1 Shear display a steep vertical plunge, which suggests that a similar geometry will occur on the #2 Shear. Additional drilling to test the plunge component of this area of the #2 Shear will involve step out holes outside of the low ground. The Company plans to undertake follow up drilling to test the down-plunge extent of the #2 Shear Zone following spring breakup.
In addition to those holes reported in this release, the Company completed an additional 14 holes on the Kenwest property over the winter. An additional 7 holes were completed on the Sherridon Project, as well. Assay results from these additional drill holes are pending and will be released when available.
The Qualified Person responsible for the technical content of this news release is Todd Keast, P. Geo., President of Manitou Gold Inc. Mr. Keast has verified all of the technical data contained in this 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. Core 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.
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.
Contact Information
Manitou Gold Inc.
Todd Keast
President
705-222-8800
705-222-8801 (FAX)
info@manitougold.com
Manitou Gold Inc.
Michael Murphy
Director, Corporate Communications
705-222-8800
705-222-8801 (FAX)
mmurphy@manitougold.com
www.manitougold.com