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Manitou Gold Inc. Intersects Significant Gold Mineralization at Gaffney Extension
Published : December 06, 2012
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Keywords :   Diamond | Gold | Market | Volatility |

SUDBURY, ONTARIO--(Marketwire - Dec. 6, 2012) - Manitou Gold Inc. (News - Market indicators) ("Manitou" or the "Company") announces the results of six Diamond drill holes from the 2012 Gaffney Extension drill program. These holes represent the completion of the 17 hole (5,032 metre) 2012 exploration program. This year's drilling program has demonstrated the presence of significant gold mineralization over substantial widths and indicates the presence of a large gold system. The Company has made significant advances in understanding the controls on the gold mineralization as well as the exploration potential of the property. To aid in the understanding of the geological descriptions contained in this news release, the reader is referred to the accompanying plan map and drill section. (Plan map available at the following link: http://media3.marketwire.com/docs/1205mtu2.pdf; Drill section available at the following link: http://media3.marketwire.com/docs/1205mtu1.pdf)

Diamond drill hole G-12-32, the first hole of the 2012 program, intersected a 66.0 metre wide interval which averaged 1.5 g/t Au (News Release November 1, 2012). This interval contained two exceptionally wide sections of gold bearing QFP dyke, 37 metres wide and 13 metres wide respectively. These two wide QFP intervals represent a significant change to the geological model, resulting in a reassessment of the gold mineralization and the drill pattern. It was determined that a series of holes completed at different orientations to the normal drill pattern would confirm the geometry of the gold bearing QFP dyke (see cross section). 

Drill hole G-12-43, the initial hole drilled at the new orientation, intersected a 16 metre wide interval which averaged 2.0 g/t Au and included 7.0 m of 3.2 g/t Au. This intersection included 12 metres of the QFP dyke and 4 metres of altered diorite along the margins of the QFP dyke. 

Drill hole G-12-44, drilled from the same setup as G-12-43, but with a steeper dip, intersected a 33.0 metre wide interval which averaged 1.2 g/t Au. The intersection included 10.4 metres of the QFP dyke and 23.1 metres of altered diorite along the margins of the QFP dyke.

Hole G-12-45, drilled from the same setup as G-12-43 and G-12-44, intersected a 36.4 metre wide interval which averaged 1.4 g/t Au and included a 15.9 metre wide interval which averaged 2.8 g/t Au, all contained within the altered diorite. The QFP dyke was intersected lower in the hole and returned 12.5 metres of 1.6 g/ t Au. 

Hole G-12-46 was drilled to provide additional structural information as well as to gain another intersection of the QFP dyke. This hole intersected the QFP dyke and returned 27.6 m of 1.7 g/t Au. 

Assay Highlights
 
DDH # From (m ) To (m ) Width (m ) Au g/t
G-12-43 116.00   132.00   16.00   2.01
includes 124.00   131.01   7.01   3.15
G-12-43 139.00   141.00   2.00   4.87
G-12-43 174.55   180.50   5.95   0.39
G-12-44 130.34   163.36   33.02   1.24
G-12-45 126.60   163.00   36.40   1.39
includes 126.60   142.50   15.90   2.77
includes 132.25   136.10   3.85   4.45
G-12-45 191.00   196.50   5.50   0.48
G-12-45 225.00   237.50   12.50   1.58
G-12-46 254.50   259.50   5.00   2.20
G-12-46 267.00   273.85   6.85   2.62
G-12-46 289.50   317.15   27.65   1.66
G-12-47 NSA            
G-12-48 355.55   361.90   6.35   3.22

Full table of assays can be found on the Company's website.

Todd Keast, President and CEO of Manitou commented, "This newly identified gold bearing QFP Dyke presents a very exciting exploration target. The body appears to be 6 to 10 metres wide and contains several metres of the mineralized altered diorite along the contacts. QFP dykes often demonstrate considerable continuity along strike and at depth, which presents the potential for a sizeable target with exceptional predictability. This section of drilling has clearly demonstrated the vertical extent of the QFP Dyke to at least 250 metres in depth and is open at depth and along strike. The relationship of QFP Dyke to the more common altered diorite style of gold mineralization is currently being evaluated with an updated 3-D Model underway. We certainly view this discovery as an important step in the ongoing process of understanding this complex, underexplored area."

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 ISO 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.



Manitou Gold Inc.
Todd Keast, P. Geo.
President and CEO
705-222-8800
705-222-8801 (FAX)
info@manitougold.com
www.manitougold.com
Companies Mentionned : Gm | Manitou | Total |
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Manitou Gold Inc.

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CODE : MTU.V
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Manitou is an exploration gold company based in Canada.

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

Manitou is listed in Canada. Its market capitalisation is CA$ 2.2 millions as of today (US$ 1.7 millions, € 1.5 millions).

Its stock quote reached its highest recent level on March 04, 2011 at CA$ 1.13, and its lowest recent point on February 13, 2015 at CA$ 0.01.

Manitou has 55 020 000 shares outstanding.

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Financings of Manitou Gold Inc.
3/4/2013Applies to Extend Term of Warrants
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
12/17/2010(Sherridon)Intersects 38.7 g/t Gold Over 0.5m at Sherridon
12/3/2010(Sherridon)Intersects Up to 46.0 g/t Gold at Sherridon
Corporate news of Manitou Gold Inc.
6/25/2015Manitou Gold Announces AGM Results and Stock Option Grant
5/13/2015Manitou Gold Announces Board Appointment
5/12/2015Manitou Gold Announces Board Appointment
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
2/27/2013(Sherridon)Releases Sherridon Property Diamond Drill Results
2/13/2013Commences Drilling on the Elora Project
12/6/2012Intersects Significant Gold Mineralization at Gaffney Extens...
12/6/2012Intersects Significant Gold Mineralization at Gaffney Extens...
11/29/2012News Release
11/29/2012Provides Exploration Update on Elora Property
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
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
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