SUDBURY, ONTARIO--(Marketwired - Aug 7, 2014) - Manitou Gold Inc. (TSX VENTURE:MTU) ("Manitou" or the "Company") announces that exploration work is underway on the Gaffney Patents Project in Northwestern Ontario. The Project was acquired by Manitou in the fall of 2013 and hosts the surface projection of gold mineralization on the Company's Gaffney Extension Project, where diamond drilling took place in 2011 and 2012. Diamond drill hole G-11-27 returned a 75.1 m interval averaging 2.4 g/t Au, including two higher grade intervals averaging 5.5 g/t Au over 8.5 m and 5.2 g/t Au over 10.0 m (News Release November 2, 2011). The current exploration program is intended to follow up on the mechanical trenching, sampling and geological mapping work completed on the property last year which identified a structurally complex gold system with surface channel samples returning gold assays up to 74.3 g/t Au (News Release December 12, 2013).
Summer work on the Gaffney Patents Property will consist of a structural evaluation of the gold mineralization to advance the understanding of the lithological and structural controls on the gold system. Geological mapping will be completed across the property to gain a better understanding of regional fold structures and their relation to gold mineralization. In addition, the gold potential of other prospective targets located across the property will be evaluated.
Additional exploration activities planned for 2014 include programs to evaluate several prospective areas on the Canamerica 502 Block Project, as well as the high grade gold mineralization of the #2 shear zone on the Kenwest Project.
Todd Keast, the President & CEO of Manitou has also begun posting President's updates on the Company's website to provide shareholders with regular information on exploration and corporate activities. The first update is now posted on the website and can be viewed at: http://manitougold.com/investors/presidents_message/.
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.
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.
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.