Manitou Gold Commences Diamond Drill Program on Higbee Gold Project
Published : May 10, 2011
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Diamond | Gold | Market | Volatility |

SUDBURY, ONTARIO--(Marketwire - May 10, 2011) - Manitou Gold Inc. (News - Market indicators) ("Manitou") reports the start up of a Diamond drill program on the Higbee Project, located within the Kenora Mining Division of Northwestern Ontario. The program will test several high grade gold showings. Gold showings on the Higbee Project have been sporadically prospected over the past 125 years, resulting in the discovery of numerous high grade gold showings, with grab sample assay results ranging from nil to 189.7 g/t Au.

Highlights of past exploration on Higbee Property

In 1902, an adit was driven along a quartz vein contained within a 1 m wide shear structure located on the southeast side of Higbee Lake (the "S.500 occurrence"). This shear structure is oriented in an east-west direction and intersects a larger 10 m wide oblique shear structure oriented north-south. Apart from the adit, results of this early work were not documented. 

Between 1988 and 1995, a local prospector (B. Barton) completed numerous prospecting programs, including small scale trenching and sampling along both shear structures around the S.500 occurrence. Grab samples of this work returned values ranging from nil to 176.9 g/t Au (Barton, 1988-1995; various assessment reports). Two short packsack drill holes (1995) on the 10 m wide shear returned an assay of 16.9 g/t Au over 0.30 m in Hole #1 (4.5 m in length) and 7.9 g/t Au over 0.12 m in Hole #2 (2.4 m in length). The 10 m wide shear was only partially tested, due to the shortness of the holes, combined with the limited sampling of the core. A second high-grade gold showing, known as the Barton occurrence, was identified adjacent to a small lake approximately 2.5 km to the northeast of the S.500 occurrence. Historical grab sample assay results from this area include values as high as 189.7 g/t Au (Barton, 1995; assessment report).

In 1990, the Ontario Geological Survey (OGS Open File Report 5731) completed a brief geological investigation around the S.500 adit area. Grab samples from this program returned assay results ranging from nil to 64.45 g/t Au. Delisle (1990) reported that the gold-bearing quartz veins are hosted by a "carbonatized quartz-diorite which contains blue quartz eyes" with the "primary texture of the quartz-diorite strongly masked and overprinted by pervasive ankerite alteration."

In 2009, the District Geologist from the Ministry of Northern Development and Mines (MNDMF Open File Report 6244) completed a brief geological investigation. The report mentions "pervasive carbonate alteration and the presence of 1-3% disseminated pyrite." Grab samples from the S.500 occurrence returned assay results ranging between nil and 69.95 g/t Au. 

During the fall of 2009, Manitou gold completed a prospecting program to evaluate the S.500 and Barton occurrences. Both shear structures associated with the adit at the S.500 were recognized to contain high grade concentrations of gold within quartz veins and lower grade gold within the enveloping sericite carbonate schist. Manitou grab sample results from the S.500 area confirmed the high grade nature of gold mineralization, with grab sample assay results ranging from nil to 159 g/t Au. In addition, grab samples collected from the Barton occurrence by Manitou Gold returned values ranging from nil to 266 g/t Au. A map illustrating the known gold zones on the Higbee property can be seen at the Company's website at: www.manitougold.com/higbee.html.

Current Drill Program at Higbee

The prospective north-south oriented shear structures are situated entirely within a quartz diorite intrusion. The gold bearing shear zones have received minimal exploration work. The limited prospecting efforts to date have returned high grade gold assay results. Because the shear structures display considerable width and strike continuity, the Company considers the structures to be highly prospective. Both the S.500 occurrence and the Barton occurrence will be tested during the current Manitou drilling program in order to delineate the down dip and along strike continuity of the mineralized shear zones. The drill program is planned to consist of 500 m of drilling and is expected to take two weeks to complete.

Regional Exploration Update

Kenwest

Diamond drilling is scheduled to commence at the Kenwest Project in mid-May, when the Higbee drilling is completed. Drilling on Kenwest will follow up on the previously identified areas that have high grade gold intersections, indicating the presence of discrete shoots of gold mineralization. Drill hole spacing is intended to provide broad definition and down plunge continuity of these shoots. In addition, a contractor has been engaged to complete a detailed ground geophysical survey over the high grade gold intersection of 53.7 kg/t over 0.55 m in hole KW-11-26 (see press release Feb 28, 2011). The survey may provide significant insight into the continuity and orientation of the conductive gold mineralization intersected in hole KW-11-26. Surface trenching is also planned to provide additional structural information on this exceptional high grade intersection. 

Gaffney

Preparations for the drilling program on the Gaffney Extension Project are also underway. A barge for the drill program has been contracted, with modifications to the barge underway. A drill contractor with considerable barge drilling experience has been contracted to perform the drilling. The drilling program is planned to commence in late May, following the completion of equipment modifications and breakup of the ice on Lower Manitou Lake.

Sherridon

On the Sherridon project, line cutting is currently underway as part of an overall expansion of the exploration area. Multiple visible gold intersections in the past two phases of Diamond drilling suggest the potential of a proximal larger gold bearing system. The extension of the line cutting, with plans for follow-up ground geophysical surveys, will produce additional targets for future exploration and Diamond drilling. 

The Qualified Person responsible for the technical content of this news release is Todd Keast, P. Geo., President of Manitou Gold Inc. Mr. Keast has verified all of the technical data contained in this release. 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. Ccre samples were 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.

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
President
705-222-8800
705-222-8801 (FAX)
info@manitougold.com
or
Manitou Gold Inc.
Michael Murphy
Director, Corporate Communications
705-222-8800
705-222-8801 (FAX)
mmurphy@manitougold.com

Manitou Gold Inc.

EXPLORATION STAGE
CODE : MTU.V
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Manitou is a gold exploration company based in Canada.

Its main exploration properties are SHERRIDON, CANAMERICA, HIGBEE and KENWEST in Canada.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Manitou Gold Inc.
9/18/2012Completes Private Placement With Robert McEwen
Project news of Manitou Gold Inc.
5/10/2011(Higbee)Commences Diamond Drill Program on Higbee Gold Project
2/28/2011(Kenwest)Intersects 53.7 Kilograms Gold Per Tonne Over 0.55 Metres
Corporate news of Manitou Gold Inc.
4/24/2015Manitou Gold Announces Management and Board Changes
4/22/2015Manitou Gold Announces Management and Board Changes
2/2/2015Manitou Gold Announces Board and Management Changes
1/7/2015Manitou Gold Announces Board and Management Changes
11/14/2014Manitou Gold Announces Board and Management Changes
10/27/2014MANITOU GOLD INC. Prospecting Results and Exploration Update
9/12/2014Manitou Gold Inc. Samples 40.9 g/t Au on Gaffney Patents
8/7/2014Manitou Gold Inc. Begins Exploration on the Highly Prospecti...
4/25/2014Manitou Gold Inc. Releases Elora Diamond Drill Results
10/23/2013Announces Share Issuance
10/1/2013Announces Acquisition of Gaffney Property
8/8/2013Exploration Update
5/16/2013Adopts Advance Notice By-Law
5/9/2013Releases Elora Property Diamond Drill Results
11/1/2012Extends Gaffney Extension Mineralization 100 Metres Down Plu...
10/17/2012Announces Launch of New Website
9/13/2012Intersects 9.5m of 4.0 g/t Au on Gaffney Extension
7/11/2011Closes Harper Lake Property Acquisition
6/23/2011Commences Gaffney Extension Drill Program
6/20/2011Acquires New Exploration Target
6/2/2011Adds Exploration Properties; Provides Exploration Update
4/20/2011(Canamerica)Intersects 12.6 g/t Au Over 4.0 m at Canamerica Project; Ann...
4/15/2011Intersects 10.3 g/t Gold Over 6.0 Metres
3/29/2011Completes $10 Million Private Placement
3/16/2011Announces $7 Million Private Placement
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (MTU.V)
0.035-12.50%
TSX-V
CA$ 0.035
08/11 12:09 -0.010
-12.5%
Prev close Open
0.040 0.035
Low High
0.035 0.035
Year l/h YTD var.
0.025 -  0.070 -41.67%
52 week l/h 52 week var.
0.025 -  0.085 -46.15%
Volume 1 month var.
20,000 16.67%
24hGold TrendPower© : -37
Produces
Develops
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 7/8/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2022-53.33%
202166.67%0.130.05
202012.50%0.080.03
20190.00%0.070.00
2018-74.19%0.190.04
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.16+0.56%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.35-4.86%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 3.29-8.10%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.59-2.17%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.68+1.13%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 7.13+1.71%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.30+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.36+26.79%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.01-1.95%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 64.46+7.34%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :