Manitou Gold Inc. Releases Sherridon Property Diamond Drill Results
February 27 2013 - 7:30AM
Marketwired Canada
Manitou Gold Inc. (TSX VENTURE:MTU) ("Manitou" or the "Company") reports diamond
drill results from the Sherridon project located in Northwestern Ontario. The
company completed two shallow diamond drill holes in the fall of 2012 which both
intersected visible gold. Manitou has now vested 100% into the Sherridon
project.
The company completed 27 short, widely spaced diamond drill holes (4,968 metres)
since optioning the project in 2009. Diamond drilling has focused on surface
gold showings, geophysical anomalies and follow-up holes on gold intersections
discovered during the drill program. Fourteen of the drill holes have
intersections containing coarse visible gold associated with sheared volcanic
rocks. The relatively high number of visible gold occurrences within the wide
spaced drill holes over several kilometres suggests the presence of considerable
gold in the system.
Diamond drill holes SH-12-27 and SH-12-28 (reported in this release) were
completed on the same section as diamond drill holes SH-12-24 and SH-12-25 (see
news release May 22, 2012). DDH SH-12-28 intersected three discrete shear zones
including 16.8 g/t Au over a core length of 0.6 metre and is located 35 metres
down dip from SH-12-27. The three gold bearing shears have only been tested to a
vertical depth of 125 metres and remain open. Drill hole SH-12-27 intersected
7.5 g/t Au over a core length of 1.1 metres which is located 25 metres down dip
from Hole SH-12-25. Both SH-12-24 and SH-12-25 contained multiple shear zones
with visible gold including 18.8 g/t Au over 4.5 metres in SH-12-25.
To see the cross section associated with this release, click the following link:
http://media3.marketwire.com/docs/227mtu_map.pdf
Assay Highlights
DDH From (M) To (M) Width (M) g/t Au
Previously
SH-12-24 19.8 21.9 2.1 6.9 Released
Previously
SH-12-24 65.5 66.5 1.0 0.2 Released
Previously
SH-12-25 21.0 22.5 1.5 0.6 Released
Previously
SH-12-25 72.3 76.7 4.5 18.8 Released
Previously
SH-12-25 171.5 173.0 1.5 0.4 Released
SH-12-27 3.0 7.0 4.0 0.3
SH-12-27 43.0 43.6 0.7 1.5
SH-12-27 94.9 96.0 1.1 7.5
SH-12-27 109.5 110.0 0.5 3.5
SH-12-28 32.0 32.9 0.9 0.7
SH-12-28 64.1 65.2 1.1 3.0
SH-12-28 133.3 133.8 0.6 16.8
Full table of assays can be found on the Company's website.
Todd Keast, President and CEO of Manitou commented "The widespread distribution
of gold within the system is a positive exploration feature. Our focus in future
exploration programs will be to expand the extent of the known gold bearing
shear structures and to identify larger scale structures."
Manitou is a Canadian exploration company with a 189 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 2013 exploration program is currently underway with 5,000 metres of diamond
drilling in progress on the Elora property directly adjacent to Manitou's
high-grade Kenwest project. (See news release February 13, 2013).
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.
The Company has implemented a quality control program to ensure best practice in
sampling and analysis. Samples are transported in security sealed bags to the
Actlabs facility in Dryden, Ontario for preparation. Actlabs transports the
samples to the Actlabs ISP 17025 registered laboratory facility in Thunder Bay
for analysis and Internal QA/QC checks. Core samples are 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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Manitou Gold Inc.
Todd Keast, P. Geo.
President and CEO
705-222-8800
705-222-8801 (FAX)
info@manitougold.com
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