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Manitou Gold Inc. Releases Sherridon Property Diamond Drill Results
Published : February 27, 2013
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Keywords :   Diamond | Gold | Market | Volatility |

SUDBURY, ONTARIO--(Marketwire - Feb. 27, 2013) - Manitou Gold Inc. (News - Market indicators) ("Manitou" or the "Company") reports Diamond drill results from the Sherridon project located in Northwestern Ontario. The company completed two shallow Diamond drill holes in the fall of 2012 which both intersected visible gold. Manitou has now vested 100% into the Sherridon project.

The company completed 27 short, widely spaced Diamond drill holes (4,968 metres) since optioning the project in 2009. Diamond drilling has focused on surface gold showings, geophysical anomalies and follow-up holes on gold intersections discovered during the drill program. Fourteen of the drill holes have intersections containing coarse visible gold associated with sheared volcanic rocks. The relatively high number of visible gold occurrences within the wide spaced drill holes over several kilometres suggests the presence of considerable gold in the system. 

Diamond drill holes SH-12-27 and SH-12-28 (reported in this release) were completed on the same section as Diamond drill holes SH-12-24 and SH-12-25 (see news release May 22, 2012). DDH SH-12-28 intersected three discrete shear zones including 16.8 g/t Au over a core length of 0.6 metre and is located 35 metres down dip from SH-12-27. The three gold bearing shears have only been tested to a vertical depth of 125 metres and remain open. Drill hole SH-12-27 intersected 7.5 g/t Au over a core length of 1.1 metres which is located 25 metres down dip from Hole SH-12-25. Both SH-12-24 and SH-12-25 contained multiple shear zones with visible gold including 18.8 g/t Au over 4.5 metres in SH-12-25. 

To see the cross section associated with this release, click the following link:

Assay Highlights

DDH From (M) To (M) Width (M) g/t Au  
SH-12-24 19.8 21.9 2.1 6.9 Previously Released
SH-12-24 65.5 66.5 1.0 0.2 Previously Released
SH-12-25 21.0 22.5 1.5 0.6 Previously Released
SH-12-25 72.3 76.7 4.5 18.8 Previously Released
SH-12-25 171.5 173.0 1.5 0.4 Previously Released
SH-12-27 3.0 7.0 4.0 0.3  
SH-12-27 43.0 43.6 0.7 1.5  
SH-12-27 94.9 96.0 1.1 7.5  
SH-12-27 109.5 110.0 0.5 3.5  
SH-12-28 32.0 32.9 0.9 0.7  
SH-12-28 64.1 65.2 1.1 3.0  
SH-12-28 133.3 133.8 0.6 16.8  

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

Todd Keast, President and CEO of Manitou commented "The widespread distribution of gold within the system is a positive exploration feature. Our focus in future exploration programs will be to expand the extent of the known gold bearing shear structures and to identify larger scale structures."

Manitou is a Canadian exploration company with a 189 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 2013 exploration program is currently underway with 5,000 metres of Diamond drilling in progress on the Elora property directly adjacent to Manitou's high-grade Kenwest project. (See news release February 13, 2013).

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 ISP 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

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, P. Geo.
President and CEO
705-222-8801 (FAX)

Manitou Gold Inc.

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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$ 2.8 millions as of today (€ 2.5 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 55 022 411 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
2/28/2011(Kenwest)Intersects 53.7 Kilograms Gold Per Tonne Over 0.55 Metres
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.
7/29/2016Manitou Gold Announces Closing of Non-Brokered Private Place...
3/1/2016Manitou Gold Updates on Project Review and Finances
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
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
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