Manitou Gold Inc. Announces Gaffney Channel Results of 74.3 g/t Au
December 12 2013 - 9:30AM
Marketwired
Manitou Gold Inc. Announces Gaffney Channel Results of 74.3 g/t Au
SUDBURY, ONTARIO--(Marketwired - Dec 12, 2013) - Manitou Gold
Inc. (TSX-VENTURE:MTU) ("Manitou" or the "Company") announces the
receipt of channel sample assay results from the recently completed
work program on the Gaffney Patents Project. The purpose of the
program was to complete a comprehensive sampling program on
trenches previously sampled by Sylvanite Gold Mines Ltd. in 1943,
and to establish the distribution of gold mineralization in the
different rock units. Channel samples were collected from some of
the historical trenches and from two new areas exposed by the
Company within the vicinity of the historical Gaffney Shaft.
The majority of the 172 cut channel samples (136 metres)
returned anomalous gold values >0.05 g/t Au with assays ranging
between 0.01 g/t Au to 74.30 g/t. Highlights of the channel
sampling program are included in Table 1, and demonstrate the
widespread nature of high grade gold mineralization.
Table 1:
Sample No. |
Zone |
Width(m) |
Au (g/t) |
N499670 |
Pit Bull |
0.5 |
74.3 |
N499724 |
Handsteel |
0.5 |
25.4 |
N499718 |
Handsteel |
1 |
22 |
N499662 |
Pit Bull |
0.5 |
20.6 |
N499725 |
Handsteel |
1 |
20.6 |
N499775 |
Shaft Trench |
0.75 |
14.2 |
N499681 |
Pit Bull |
1 |
13.3 |
N499691 |
Pin |
0.5 |
13.3 |
N499821 |
Shaft Trench |
0.6 |
10.75 |
N499822 |
Shaft Trench |
0.5 |
10.7 |
N499673 |
Pit Bull |
0.8 |
10.35 |
N499832 |
Tick Tock |
1 |
10.25 |
N499654 |
Pit Bull |
0.75 |
9.26 |
N499786 |
Shaft Trench |
0.75 |
9.17 |
N499831 |
Tick Tock |
1 |
7.73 |
N499761 |
Vein Trench |
0.75 |
7.69 |
N499719 |
Handsteel |
1 |
7.52 |
N499716 |
Handsteel |
1 |
7.4 |
N499661 |
Pit Bull |
1 |
7.06 |
N499672 |
Pit Bull |
1 |
6.03 |
N499674 |
Pit Bull |
1 |
5.77 |
N499658 |
Pit Bull |
0.5 |
5.53 |
N499749 |
Vein Trench |
0.5 |
5.14 |
Complete table of assays can be found on the Company's website
(http://manitougold.com/projects/gaffney-extension/results/)
Maps of the individual trenches noting the channel and grab
sample results are available on the Company's website.
(http://manitougold.com/projects/gaffney-extension/maps )
The sampling results demonstrate gold mineralization occurring
in a number of different rock units. Geological mapping suggests
mineralization trends in a north-south orientation in addition to
the more commonly interpreted east-west trends. Geological mapping
of newly exposed areas has identified structural complexity whereby
strong evidence of folding of the north-south trending QFP dike has
been uncovered in the newly exposed Shaft Trench. Channel sampling
of this Quartz Feldspar Porphyry dike demonstrates anomalous gold
values throughout its entirety, with high grade gold results
identified along the contacts of the dike.
Todd Keast, the President and CEO of Manitou commented, "The
current sampling and mapping program has provided a better
understanding of the structural and mineralogical controls on gold
mineralization and has confirmed not only the structural complexity
of the Gaffney Patents Property, but also the potential for a
number of gold focusing structures that have not been previously
evaluated. The presence of gold mineralization within the Quartz
Feldspar Porphyry (QFP) dike and along the contacts of the dike
with the surrounding diorite intrusion and mafic volcanic rocks
make the main north-south trending QFP dike near the Gaffney shaft,
as well as other north-south trending QFPs located across the
property are extremely favorable exploration targets."
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.
Manitou is a Canadian exploration company with a 150 square
kilometre land package of highly prospective gold properties
located in the historical Gold Rock District, in Northwestern
Ontario. 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). Until recently,
the area has remained relatively untouched by modern-day
exploration, pointing to excellent discovery potential over this
large land package.
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 50-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.
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.
Manitou Gold Inc.Todd Keast, P. Geo.President and
CEO705-222-8800705-222-8801info@manitougold.comwww.manitougold.com
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