Manitou Gold Inc.

Published : April 25th, 2014

Manitou Gold Inc. Releases Elora Diamond Drill Results

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
Keywords :   Diamond | Gold | Volatility |

Manitou Gold Inc. Releases Elora Diamond Drill Results

SUDBURY, ONTARIO--(Marketwired - Apr 25, 2014) - Manitou Gold Inc. (TSX VENTURE:MTU) ("Manitou" or the "Company") announces the receipt of assay results from the recently completed winter Diamond drill program on the Elora Project, located in Northwestern Ontario. The purpose of the program was to test the Jubilee gold zone along a 100 metre long portion down to a vertical depth of approximately 75 metres. A total of 18 Diamond drill holes (average length of 64 metres) were completed on this zone

The Jubilee gold zone is a continuous shear structure comprised of sericite carbonate schist, quartz veins, and sheared sulphidic metasediments. Highlights of the program include Diamond drill hole E-14-64 which intersected 5.6 g/t Au over a core length of 8.0 metres at a vertical depth of 75 metres. The relatively shallow depth of this particular intersection is supported by a number of surrounding holes completed by the previous property operator, including E-98-07 which intersected 6.4 g/t Au over 11.3 metres (vertical depth of 87 metres), and hole E-98-06 of 3.95 g/t Au over 5.85 metres at a vertical depth of 62 metres. Recently completed Diamond drill hole E-14-63 also returned significant gold mineralization at the 65 metre vertical level with assays grading 4.5 g/t Au over a core length of 6.0 metres. This intersection is approximately 15 metres below the previous operator's hole E-98-09 which graded 4.2 g/t Au over 8.8 metres. Assay highlights from the current drilling program are noted in Table 1 below and a long section of the Jubilee Zone can be found on the Company's website.

Table 1
DDH From To Width Au g/t Vertical
E-14-49 239.4 240.5 1.1 1.2 Anomaly
E-14-49 279.5 282.2 2.6 0.9 Anomaly
E-14-50 12.5 16.0 3.5 1.5 12.0
E-14-51 35.2 43.7 8.5 2.8 35.0 Visible gold
E-14-52 20.3 24.5 4.3 2.4 14.0
E-14-53 34.0 41.0 7.0 4.2 30.0
E-14-54 20.6 27.2 6.6 1.4 14.0
E-14-55 27.5 35.5 8.0 2.2 18.0
E-14-56 45.1 52.2 7.1 1.7 45.0 Visible gold
E-14-57 27.0 31.3 4.3 1.5 12.0 Visible gold
E-14-58 29.2 37.8 8.6 1.4 23.0
E-14-59 11.9 15.5 3.6 1.0 8.0
E-14-60 36.2 45.8 9.6 2.3 30.0
E-14-61 17.0 22.0 5.0 3.4 16.0 Visible gold
E-14-62 71.2 78.8 7.6 1.7 50.0
E-14-63 81.3 87.3 6.0 4.5 65.0 Visible gold
E-14-64 90.0 98.0 8.0 5.6 75.0 Visible gold
E-14-65 57.3 62.0 4.8 3.0 42.0
E-14-66 72.6 78.0 5.4 0.8 62.0
E-14-67 55.0 59.0 4.0 2.1 38.0

Complete table of assays can be found on the Company's website (

Historical mining and development on the Jubilee zone include an open cut and a shaft sunk to a depth of 53.3 metres with exploration and development (including one stope) on the 50 metre level (Blackburn, 1981). The reported grade of the mined material was 3.4 g/t Au. Detailed core logging and sampling by the Company has demonstrated that gold mineralization is present not only in the quartz veins, but also within the sheared and altered mafic volcanics and metasediments surrounding the quartz veins. (Click here for cross section: The sulphide rich metasediments may respond to geophysical surveys, which would greatly assist in exploration of the Jubilee shear structure both along strike and at depth.

Results obtained from the Diamond drill program on the very shallow portion of the Jubilee zone indicate continuity of gold mineralization within the vicinity of historical workings from the 75 metre vertical level up to surface for an approximate strike length of 100 metres. Gold grades are consistent with previous property operator's results, and prove the Jubilee zone to be a very prospective shallow gold target. (Click here for long section:

Todd Keast, President & CEO of the Company commented "We are currently evaluating a number of these shallow gold targets on the Elora Property as well as the adjacent Kenwest property, and there is an exceptional opportunity for the company to define a number of areas with near surface material which may be feasible for low cost low volume extraction."

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. 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.

For further details about the Company's projects please visit the Manitou website at

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.

Read the rest of the article at

Manitou Gold Inc.

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
Projects & res.
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 $7 Million Private Placement
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
CA$ 0.025
06/28 10:30 -0.010
Prev close Open
0.030 0.025
Low High
0.025 0.025
Year l/h YTD var.
0.025 -  0.070 -58.33%
52 week l/h 52 week var.
0.025 -  0.085 -66.67%
Volume 1 month var.
12,083 -16.67%
24hGold TrendPower© : -37
Explores for Gold
Interactive chart Add to compare
Print Compare Export
Last updated on : 7/8/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
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 :
announces expected non-cash impairment
AU$ 7.58+2.71%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 2.83-4.07%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
US$ 0.47-7.33%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 0.53-10.32%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+0.00%Trend Power :
Closes Bridge Loan Financing
CA$ 3.00+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
CA$ 8.71-1.02%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.30+7.14%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.25+4.17%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$ 1.79-6.28%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 59.37+2.73%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :