Manitou Gold Inc. Gaffney Patents Assay Results
November 27 2013 - 7:30AM
Marketwired Canada
Manitou Gold Inc. (TSX VENTURE:MTU) ("Manitou" or the "Company") announces the
receipt of grab sample assay results from the recently completed work program on
the Gaffney Patents Project. The purpose of the program was to relocate and
sample a number of historical trenches previously worked on by Sylvanite Gold
Mines Ltd. in 1943. The grab samples were collected from these trenches to
determine the presence of gold across the property and to aid in the
understanding of the mineralogical and structural controls on the gold
mineralization.
A total of 105 grab samples were collected from various locations across the
property including historical trenches, outcrop exposures around the Gaffney
shaft and rock piles and bedrock exposures around the Beehive shaft (see map:
http://manitougold.com/_resources/gaffney/20131127/Figure-1-rev.jpg). Assay
results range from trace to 115.5 g/t Au. A list of assay results greater than 5
g/t Au for the Gaffney Shaft area can be found in Table 1 below. The complete
list of grab sample results, as well as photos of some of the mineralized zones
can be found on the Company's website (see photos:
http://manitougold.com/projects/gaffney-extension/photos/).
Table 1:
Sample No. Zone Au (g/t)
N499640 Pit Bull 20.9
N499606 Pit Bull 17.4
N499964 Trench-E 15.5
N499968 Trench-H 11.5
N499613 Pit Bull 9.23
N499602 Pit Bull 9.15
N499637 Pit Bull 9.13
N499976 Trench-K 7.64
N499636 Pit Bull 7.21
N499953 Trench-A 7.11
N499960 Trench-C 6.61
N499601 Pit Bull 6.3
N499611 Pit Bull 6.07
N499974 Trench-I 5.94
N499618 Shaft Trench 5.83
N499961 Trench-D 5.76
N499957 Trench-B 5.43
N499955 Trench-B 5.28
See complete Gaffney shaft area assays:
http://manitougold.com/_resources/gaffney/20131127/131126_-_Grab_Samples_Gaffney_Shaft_area.pdf
The majority of the historical trenches were located and despite being heavily
overgrown, were cleared to obtain fresh representative samples. The assay
results confirm the presence of gold mineralization in all of the historical
trenches. Initial sampling has demonstrated gold mineralization along a 375
metre long trend of the trenches (see map:
http://manitougold.com/_resources/gaffney/20131127/Figure_2.jpg).
The Beehive shaft, located on the northeastern portion of the Gaffney Patents
Property was located and sampled during the course of this work. Samples
returned some of the highest results of the program (115.5 g/t Au and 21.4 g/t
Au) (see map:
http://manitougold.com/_resources/gaffney/20131127/Figure-3-rev.jpg). A list of
assay results greater than 1 g/t Au for the Beehive Shaft area can be found in
Table 2 below. The high grade gold values are associated with massive pyrite
within quartz vein material. There is sparse information available on the
Beehive shaft area. The high grade gold samples obtained from this area were
located on the waste rock pile and did not contain any visible gold.
Table 2:
Sample No. Zone Au (g/t)
N499840 Beehive 115.5
N499843 Beehive 21.4
N499995 Beehive 4.03
N499996 Beehive 3.76
N500000 Beehive 3.36
N499838 Beehive 1.375
N499845 Beehive 1.195
See complete Beehive shaft area assays:
http://manitougold.com/_resources/gaffney/20131127/131126_-_Grab_Samples_Beehive_area.pdf
The geology of the Gaffney Patents has been interpreted through ground surveys
by previous operators as a large fold pair structure (see map:
http://manitougold.com/_resources/gaffney/20131127/Figure-1-rev.jpg). Gold was
recognized to be contained within a diorite intrusion, however work by Manitou
has identified gold mineralization associated with a prominent north-south
trending quartz feldspar porphyry (QFP) dike as well as within areas along the
contact of the QFP dike. Grab samples obtained from these zones returned assays
up to 17.4 g/t Au.
Todd Keast, the President and CEO of Manitou, commented, "Sample results suggest
substantial gold mineralization over a relatively large area. The current
structural interpretation indicates the potential for a number of gold focusing
structures that have not previously been evaluated both within the diorite
intrusion as well as along structures at the axial hinges to the folds. 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. At this point it is not clear how the quartz veins and
massive pyrite found in the vicinity of the historical Beehive shaft relate to
the rest of the area. With approximately $1.5 million in the bank, we are well
positioned to continue exploration on this highly prospective property."
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. Grab 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.
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
www.manitougold.com
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