Manitou Gold Drills 12.8 g/t of Gold over 0.5 m at Patents Property, Michipicoten Gold Belt in Northeastern Ontario
30 April 2020 - 10:00PM
Manitou Gold Inc. (TSX-V: MTU) (the “Company” or “Manitou”) is
pleased to announce that it has intersected a significant gold
bearing shear zone on its Patents Property at the Goudreau Project
in the northeastern Ontario. Hole
MTU-20-14 intersected
12.8 g/t gold over 0.5 m at a vertical depth of 50 m below
surface.
Exploration Drilling
During the month of April to date, the Company
has completed four drill holes totaling approximately 458 m at its
Patents property. The holes were designed to test a coincident soil
gas hydrocarbon and IP resistivity/chargeability anomaly. The
Company is currently drilling the Rockstar vein where one hole
totaling 194 m has been completed to date.
Drilling at the Patents property was the first
drilling to be conducted on the property and led to the discovery
of a wide mineralized shear zone with laminated shear-type quartz
veins near the core (see news release dated April 7, 2020). The
third hole, MTU-20-14, intersected the vein zone at a vertical
depth of approximately 50 m below surface and returned 12.8 g/t Au
over 0.5 m within a wider interval of veining and intense
alteration. This new zone is open for expansion in all
directions.
“We are very encouraged by the wide zones of
deformation and gold anomalies encountered in the first round of
drilling, which intersected the continuation of the trend that
hosts the Island Gold Mine and the past producing Edwards and Cline
mines,” stated Richard Murphy, President and CEO of Manitou. “The
identification of a broad, intense, gold bearing structure with
quartz veins having the potential to host gold grades similar to
that of Island Gold creates a great deal of excitement and this new
zone will be a priority for further drilling at depth.”
The four drill holes at the Patents have been
drilled on two sections with a lateral spacing of 550 m (Figure 1).
All four holes intersected a wide shear zone with intersections up
to 50 m in width, with such intersections displaying a similar
style of alteration and hosting mineralization consisting of
pyrrhotite, pyrite and minor chalcopyrite, along with quartz
veining. Results reported herein represent partial results for
three of the holes and additional assays will be released as they
become available.
Drilling at the Rockstar vein is testing the
down-plunge potential of an interpreted higher grade “shoot” at
vertical depths between 150 and 200 m. The first drill hole
(MTU-20-16) intersected four meters of intense quartz-carbonate
alteration with ~10% disseminated pyrite, minor chalcopyrite and
quartz veining within a 15 m wide shear zone. (True widths are
estimated at 70% to 90% of the drilled thickness.) This first drill
hole extended known mineralization by 100 m down plunge and
indicates good down-plunge continuity. The Company is of the
opinion that this is the beginning of a significant expansions of
mineralization of the Rockstar vein. Several additional holes will
further test both lateral and down plunge continuity of
mineralization. Drill core is currently being logged and sampled,
with results to be released as they become available.
Geophysical surveys
The airborne and ground geophysical surveys have
been completed and the data is currently being processed for
additional modelling and analysis. As previously released (see news
release dated April 7, 2020), preliminary interpretation of the
ground geophysical survey shows significant untested IP anomalies
in close proximity to the Stover occurrence, which has historic
drill intercepts of 0.7 g/t gold over 48.5 m. The main anomaly of
interest in the vicinity of the Stover occurrence is a 600 m long
high resistivity zone with elevated chargeability that flanks the
interpreted sheared contact between metasediments to the southwest
and felsic volcanics to the northeast (Figure 2).
The zones of high resistivity are likely caused by silicification
of the volcanics and/or quartz veining along the lithological
contact, while coincident elevated chargeabilities are likely
caused by disseminated sulfides, which could be associated with
gold mineralization. The broad intervals of low-grade gold
mineralization intersected in the historic drill holes are
associated with zones of high resistivity but clearly failed to
intersect the main anomalies defined by this survey. With the
benefits of the new ground geophysical survey and the not yet
received TDEM airborne data, the upcoming field season and the
Phase ll drilling (which will include drilling at the Stover
occurrence, amongst other targets) will target higher-grade gold
mineralization at these untested anomalies within the Baltimore
deformation zone.
For the four drill holes reported on in this
release, Manitou collected 277 samples representing a combined
length of 242.3 m. Partial results have been received for 161
samples representing a combined length of 143.8 m. Results ranged
from below detection limit to 12.8 g/t gold.
Core sampling was completed on select intervals
ranging from 0.1 to 1.0 m. Samples were cut in half with a core saw
and half-core samples were individually bagged, sealed and labeled;
the other half-core was placed back in the core box and is retained
on site for verification and reference purposes. Standards and
blanks were routinely inserted into the sample stream. At least 20
percent of the samples submitted to the laboratory comprise samples
used for quality control.
Samples were delivered to Activation
Laboratories (“Actlabs") in Thunder Bay, Ontario. At the
laboratory, samples were crushed up to 80% passing 2 mm, riffle
split (250 g) and then pulverized to 95% passing 105 microns. Gold
was analyzed by fire assay with an AA finish, using the 50 g
sub-sample. Over limit analysis was performed on all primary assay
results >3 g/t gold. All over limits were tested by fire assay
with gravimetric finish using a 50 g sub-sample. Actlabs is a
certified and ISO 17025 accredited laboratory. Actlabs routinely
inserts certified reference materials for at least 20 percent
quality control in each batch.
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.
For further information on Manitou Gold Inc.
contact:
Richard Murphy, CEO |
Telephone: |
1 (705) 698-1962 |
|
Email: |
info@manitougold.com |
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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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