Manitou Gold Inc. (TSX-V: MTU) (the “Company” or “Manitou”) is
pleased to provide an exploration update on its 100% owned
properties located North of Wawa, Ontario in the Michipicoten
Archean Gold Camp.
Highlights:
- Results of up to 79.9 g/t Au from outcrop grab samples
were returned from the Renabie-Easy Lake Property;
and
- Targets with highly prospective alteration and
mineralization similar to that of the historic Renabie mine near
Missanabie have been identified;
- Phase 1 drill program Renabie East Property to commence
towards the end of October.
Grab samples are selected samples and are not
representative of the mineralization hosted on the property.
Manitou Gold’s Goudreau Property
Consolidation and Large Scale Deformation Zones
Over the past 18 months, Manitou has
consolidated 22,500 hectares of prospective gold properties in the
Michipicoten Archean Greenstone Belt between the Island Gold Mine
(operated by Alamos Gold Inc.) to the west and, to the east, the
former producing Renabie Gold Mine, (owned by Barrick Gold).
The lands assembled consist of 37 kilometres of strike length with
at least seven under-explored large-scale deformation zones showing
favorable lithology and 50 government-documented gold occurrences.
(see map)
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/2c686858-b52f-43dd-a4f1-b2b9853b75f5.
Data compilation and ground exploration was
initiated as properties were assembled, with early attention being
given to the Goudreau Patents, which are located within the
Goudreau Localsh Deformation Zone (“GLDZ”), The Company’s Rockstar,
Midas and Dog Lake properties are also situated within the GLDZ,
and also cover the Emily Bay DFZ. Recently, exploration
efforts have shifted to the newly acquired Stover and Easy
Lake–Renabie East properties, which are located in the eastern
portion of the Company’s contiguous land package.
Exploration Update
Renabie-Easy Lake Property
Examination of the area in and around the Reed
Vein, located in the southeastern part of the Renabie East-Easy
Lake property defined a high-strain north-northeast striking
mineralized zone in tonalitic rocks of the Missinaibi Lake
Batholith. Mineralization and alteration of this structure are both
very similar to those of the Renabie deposit, consisting of
pervasive hematite alteration and intermittent chlorite, sericite
and epidote alteration and intermittent pyrite and galena
mineralization. The structure has been traced for over 400 meters
along surface before it disappears under overburden. It thus
remains open along strike in both directions. Gold mineralization
appears to occur in both foliation parallel and cross-cutting
quartz veins hosted within zones of high strain.
Previous exploration in and around the Reed Vein
demonstrated the presence of significant gold mineralization, but
did not see any known follow-up work. Historical highlights from
blasted channel samples at intervals of approximately 8 meters
along the southern Reed Vein returned an average grade of 6.3 g/t
Au with an average width of 1.3 m over approximately 130 m of
strike length.
Surface grab sampling by MTU confirmed the
presence of significant gold mineralization with assay results up
to 79.9 g/t Au. A total of 18 grab samples have now been assayed
from this area, with an average gold content of 18.2 g/t.
Samples ranged from 79.9 to 0.1 g/t gold. An additional 13
samples from the Reed Vein are still pending analysis. Grab samples
are selected samples and are not representative of the
mineralization hosted on the property.
Based on current and historical results, several
shallow diamond drill holes designed to test this occurrence at
depth are currently being planned.
Stover Property
Ground evaluation of the Pileggi No.1 area,
located in the south-central portion of the Stover property,
targeted an area of known gold mineralization that has seen limited
modern exploration. Historical work in the area (ca. 1940s)
included trenching, numerous test pits and some limited diamond
drilling. Assay results and locations of historical workings were
largely undocumented.
Highlight assay results of grab samples
collected in the vicinity of the old workings returned 9.37 g/t,
6.2 g/t and 4.1 g/t gold. An additional grab sample of laminated
quartz collected 200 meters to south assayed 3.4 g/t gold.
Gold mineralization in the target area is
associated with silicified and carbonate altered mafic volcanic
rocks with laminated quartz veins and pyrite, chalcopyrite and
pyrrhotite mineralization in east-southeast trending shear zones.
Fieldwork completed to date in this area identified key targets for
high-grade gold mineralization, which will be further evaluated by
mechanical stripping to better define drill targets.
Prospecting efforts are also focusing on the
Stover Lake occurrence situated in the Baltimore DFZ. Early
review of a shallow 1988 drill program in the area identified wide
intersections with anomalous gold values from five drill holes over
a strike length of 61 meters in a predominantly quartz-sericite
schist with quartz veining, pyrite mineralization and felsic dykes.
The majority of holes intersected mineralization at depths of less
than 100 meters.
Highlights of historical intersections at Stover
include:
- 1.1 g/t Au over 13.4 m, including 2.2 g/t Au over 2.1 m with a
second down-hole intersection of 0.4 g/t Au over 45.8 m
(SL-01)
- 0.5 g/t Au over 38.6 m (SL-10)
- 0.7 g/t Au over 48.5 m (SL-11)
Historic drill hole intercepts disclosed above are from diamond
drilling completed before the introduction of National Instrument
43-101 and results have not been verified by a Qualified
Person.
The Baltimore Deformation Zone (the “BDFZ”) and
the wide zones of anomalous gold mineralization it hosts are
interpreted as being the continuation of the GLDZ, which hosts
Alamos Gold’s Island Gold Mine. Mapping by Manitou field crews has
traced the GLDZ eastwards, along strike, across the Dog Lake
property. The GLDZ then appears to be offset to the North
along the Meath Lake Fault, likely continuing as the Baltimore
Deformation Zone for another 16 kilometers to the east-southeast
across the Stover Property. Similarities between the two
deformation zones include polyphase deformation and metamorphism
history with two wide zones (>10s of meters) of
carbonate-sericite alteration and associated silicification/quartz
veining. (see map)
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/12dee55f-98c3-43ff-bc26-d17a576e3548.
RockstarExploration crews have
been active at the Rockstar vein with surface stripping, channel
sampling and trench mapping the Rockstar occurrence. Future
efforts will focus on the newly discovered RS2 vein (see press
release dated Aug 29, 2019), which runs parallel and south of the
Rockstar vein, to outline its size, geometry and gold
potential. This vein is situated south of the GLDZ.
Strategic Partnership with Goldspot
Discoveries Inc. and Target Generation
In February 2019, Manitou entered into an
Investment Agreement with a related one-year services contract with
Goldspot Discoveries Inc. (“Goldspot”) to assist in the data
compilation, evaluation, interpretation and gold targets generation
at the Company’s properties.
Since February, Goldspot has been gathering,
evaluating and interpreting multiple geophysical datasets that
include magnetics, EM, VTEM, TDEM, to identify structures,
lithology boundaries, dykes, and iron formations in relation to
timing of the emplacement of gold mineralization. This
interpretation will assist in identifying larger scale structures,
alteration features and geologic boundaries.
In parallel, ground truthing of geology
assemblages and structural timing were performed by Goldspot and
Manitou’s technical teams and will be combined with geophysical
interpretation for target generation. Recently, crews have
been on the ground focused on the Bankfield and Rockstar
occurrences with the discovery of the new RS2 gold vein with an
initial grab sample of 39.3 g/t Au.
It is anticipated that by the end of September
2019, Goldspot will submit deliverables on its regional scale
geophysical evaluation for areas that cover the Baltimore,
Missinaibi, Loch Lomond, Goudreau-Localsh, and Easy-Lake
Deformation Zones.
About the Goudreau Property
Manitou Gold’s Goudreau-Renabie area properties
are comprised of a 22,500 hectare land package set between Alamos
Gold’s producing Island Gold mine to the West and the past
producing Renabie mine to the East that traverses 37 km of
contiguous lands along known deformation zones. Exploration of
these properties will continue throughout the 2019-2020 field
season. Grab samples are selected samples and are not
representative of the mineralization hosted on the property.
Qualified Person
Richard Murphy, P.Geo is the qualified person
responsible for the technical content contained in this release. He
has reviewed and approved the content herein.
Samples reported herein were transported in
sealed bags to Activation Laboratories assay lab in Thunder Bay,
Ontario. Samples were then crushed to 75% passing 2mm, split,
then pulverized to 85% passing 75 microns. Using a riffle splitter,
a 50g sub-sample was created. Then, 50g fire assays were performed
with an AA finish. Over limit analysis was performed on all
primary assay results >3 g/t Au. All over limits were
tested by fire assay with gravimetric finish.
For grab samples, Manitou Gold relies on the
laboratory quality assurance and quality control program. A
certified assay standard, blank or duplicate sample is submitted at
regular intervals. Standard analytical results are checked
for statistical accuracy.
For further information on Manitou Gold
Inc. contact:
Richard Murphy, CEOTelephone: 1 (705)
698-1962
Pat Dubreuil, PresidentTelephone: 1 (705)
626-0666
Email: info@manitougold.com
Forward Looking Statements – Certain information
set forth in this news release may contain forward-looking
statements that involve substantial known and unknown risks and
uncertainties. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond the
control of Manitou, including, but not limited to the receipt of
applicable shareholder approvals. Readers are cautioned that the
assumptions used in the preparation of such information, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking statements.
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