Manitou Gold Inc.

Published : December 03rd, 2010

Intersects Up to 46.0 g/t Gold at Sherridon

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

 

Manitou intersects up to 46.0 g/t gold at sherridon

 

 

 

 

 

Manitou Gold Inc. (TSX VENTURE:MTU - News) today reported diamond drill assay results from the Sherridon Property, located within the Upper Manitou Lake Area of the Kenora Mining Division.

The Company has received assay results for six diamond drill holes as part of a nine hole (1,914 m) second phase drill program, designed to evaluate this newly identified area of multiple gold showings. Assays are pending for the remaining three holes.

Gold bearing quartz veins have been identified within a broad envelope of gold mineralization, which varies in thickness between 50 m and 120 m and measures 150 m along an east/west strike direction and 200 m in a down dip direction. The envelope of gold mineralization remains open to the east, west and down dip. Sixteen occurrences of visible gold were encountered in five of the six holes.

Highlights of intersections that were the basis for the initial delineation of this broad envelope of gold mineralization consist of the following (full details of assays are provided in a table below):




--  46.0 g/t Au over 0.5 m in hole SH-10-12;
--  14.3 g/t Au over 0.5 m, in hole SH-10-12;
--  2.9 g/t Au over 2.5 m in hole SH-10-12;
--  8.0 g/t Au over 0.8 m in hole SH-10-12;
--  4.6 g/t Au over 2.5 m in hole SH-10-15;
--  23.0 g/t Au over 0.5 m in hole SH-10-15;
--  2.6 g/t Au over 4.8 m in hole SH-10-15;
--  11.5 g/t Au over 0.7 m in hole SH-10-15;
--  5.0 g/t Au over 1.0 m in hole SH-10-15;
--  10.3 g/t Au over 0.5 m in hole SH-10-16;
--  1.9 g/t Au over 1.0 m, and in hole SH-10-16; and
--  5.7 g/t Au over 1.0 m in hole SH-10-16.

Hole SH-10-12 is located 100 m east of SH-10-5 (see press release dated Sept 20, 2010), which intersected 19.7 g/t Au over 0.8 m, 7.6 g/t Au over 0.5 m, 5.7 g/t Au over 2.4 m and 25.3 g/t 0.5 m.

Encouraged by the results of this second phase of drilling at Sherridon, the Company has initiated exploration on the extensions of this envelope of gold mineralization. Ground geophysical surveys (induced polarization or "IP") are planned for early 2011, with further drilling to follow. IP surveys have shown to be an effective exploration tool on the Sherridon Project for identifying and tracing the sulphide bearing shear zones hosting the gold mineralization.

The Company is currently drilling at the Canamerica Project on the Little Master Area. The Little Master Shaft is located 3.2 km northeast of the Big Master Mine, within the Manitou Straits Deformation Zone. The history and details of the Little Master operation is unknown as records were not preserved by previous operators. The shaft was sunk on a quartz vein system that has been traced on surface for 50 metres until it extends below overburden. Assay values from previous grab samples ranged from 2.6 g/t to 169.0 g/t Au with a number of highly anomalous samples. The Little Master gold bearing vein is located along the flanks of a 600 metre long IP anomaly. Assay results on this drilling at Canamerica, as well as the balance of the Sherridon second phase drilling, will be released once received.

A summary of drill results from the six holes referred to above are detailed in the following table:




                 Table: Summary of Sherridon drill results                 
              From    To Width    Au                 From    To Width    Au
Hole #          (m)   (m)   (m) (gpt)  Hole #          (m)   (m)   (m) (gpt)
Hole SH-10-11                          Hole SH-10-15                        
SH-10-11      37.4  38.3   0.9   1.0   SH-10-15      78.5  81.0   2.5   4.6
SH-10-11      47.8  48.8   1.0   0.5   including     79.3  79.8   0.5  23.0
SH-10-11      56.0  56.6   0.5   1.2   SH-10-15      89.0  90.0   1.0   0.6
SH-10-11      69.3  69.8   0.5   1.1   SH-10-15     102.0 102.5   0.5   2.4
Hole SH-10-12                          SH-10-15     114.3 127.0  12.8   1.2
SH-10-12      34.0  34.5   0.5   0.9   including    114.3 119.0   4.8   2.6
SH-10-12      59.3  62.3   3.0   7.7   including    114.3 115.0   0.7  11.5
including     60.5  61.0   0.5  46.0   SH-10-15     140.0 140.5   0.5   2.7
SH-10-12      76.0  78.4   2.4   0.4   SH-10-15     157.6 158.1   0.5   1.8
SH-10-12      95.3  97.8   2.5   0.2   SH-10-15     169.5 172.0   2.5   0.4
SH-10-12     100.5 101.0   0.5  14.3   SH-10-15     194.5 195.0   0.5   0.5
SH-10-12     104.5 107.0   2.5   2.9   SH-10-15     201.0 202.0   1.0   5.0
including    104.5 105.3   0.8   8.0   SH-10-15     221.5 222.0   0.5   0.3
SH-10-12     110.0 110.8   0.8   0.3   Hole SH-10-16                       
Hole SH-10-14                          SH-10-16     155.5 160.0   4.5   0.3
SH-10-14      29.0  30.0   1.0   0.5   SH-10-16     166.0 171.5   5.5   1.3
SH-10-14      33.0  34.0   1.0   0.3   SH-10-16     170.0 170.5   0.5  10.3
SH-10-14      56.0  60.5   4.5   0.3   SH-10-16     180.5 181.5   1.0   1.9
SH-10-14      71.4  72.0   0.7   0.4   SH-10-16     186.0 187.0   1.0   5.7
SH-10-14      88.1  88.7   0.6   1.7   SH-10-16     196.0 198.0   2.0   0.6
SH-10-14     104.5 107.0   2.5   0.4   SH-10-16     217.0 218.0   1.0   0.5
SH-10-14     144.3 144.8   0.5   0.8   SH-10-16     220.0 221.1   1.1   0.5
                                       SH-10-16     237.0 239.0   2.0   0.5
                                       SH-10-16     270.0 273.0   3.0   0.4
                                       SH-10-16     276.0 279.5   3.5   0.5
Notes:                                                                     
Intersections above represent approximations of true widths of gold        
mineralization. Hole SH-10-13 did not contain any significant gold assays. 

The gold showings associated with the Sherridon Project were discovered in 2009 and represent a new gold discovery. The property has not received any past documented exploration activities and the region is largely underexplored. Past exploration activities in the Upper and Lower Manitou areas filed with the Ministry of Northern Development, Mines, and Forestry includes only 310 diamond drill holes with an average depth of 80 metres. The relatively low drill density for this area approximates one drill hole per 5 square kilometers, which emphasizes the underexplored nature of this area.

The Company recognized a number of characteristics of the Manitou Straits Deformation Zone, which favorably compare with the major gold camps of the Abitibi subprovince. The Company considers these characteristics to be positive in that they confirm that the Company is exploring in a relatively underexplored setting that has the potential of hosting an economic gold deposit.

About Manitou Gold

Manitou Gold Inc. is a well-funded gold exploration company focused with a dominant land position in the Gold Rock Mining Camp, located in the Kenora Mining District, in Northwestern Ontario. The Company's largest individual shareholder is Goldcorp Inc, who holds a 15% interest in the Company.

The Qualified Person responsible for the technical content of this news release is Todd Keast, P. Geo., Vice President, Exploration 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. A prepared sample is digested with aqua regia. The resulting solution is analyzed by inductively coupled plasma-atomic emission spectrometry.

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.

Contact:

Richard Murphy
Manitou Gold Inc.
President and CEO
705-222-8800
705-222-8801 (FAX)
info@manitougold.com
www.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)
0.055-8.33%
TSX-V
CA$ 0.055
05/24 14:58 -0.010
-8.33%
Prev close Open
0.060 0.060
Low High
0.055 0.060
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.055 -%
Volume 1 month var.
47,000 -%
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
20240.00%
2023175.00%0.070.02
2022-69.23%0.070.02
202144.44%0.130.05
202012.50%0.080.03
 
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$ 7.05+0.00%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%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
 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$ 8.91-2.73%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 0.59-3.26%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.05+10.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.06+0.00%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
 12.67+0.88%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.34+6.25%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.19+2.70%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 ...
 1.77-2.21%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 40.37-0.22%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$ 0.04+0.00%Trend Power :
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.