Highlights:
- Three broad gold mineralized intersections within 100 m of vertical depth in first hole (MTU-20-49) at Stover occurrence returned:
° 0.5 g/t Au over 39.9 m (at 105 m down-hole),
° 1.0 g/t Au over 7.6 m (at 52.1 m down-hole), including 2.2 g/t Au over 2.9 m; and
° 0.4 g/t Au over 5.5 m (at 134.5 m down-hole). - Partial results from MTU-20-52, a 25 m step-out hole east of MTU-20-49, retuned:
° 0.8 g/t Au over 18.0 m (114 m down-hole), including 1.3 g/t over 7.7 m; and
° 0.5 g/t Au over 11.5 m (130 m down hole) within a wider interval of 0.4 g/t Au over 16.4 m. - Based on the very encouraging early results, a second drill will be added to the winter drilling program commencing in the new year.
“These impressive gold intersections at the Stover zone clearly confirm the presence of a significant gold mineralized system in this underexplored deformation corridor that has seen very limited historical drilling. These drill results highlight the exploration potential of this area, as well as the potential for expansion of currently known gold mineralized zones, and also sets the stage for new discoveries,” stated
See location map of BDZ within Manitou’s
See map illustrating drill hole locations and priority drill targets.
The Stover occurrence is characterized by wide zones of sericite-carbonate and local fuchsite alteration. Sulfide mineralization consisting of trace to 15% pyrite (+/- arsenopyrite and minor pyrrhotite) has been observed to occur in compressional quartz-carbonate veins and alteration zones. This type of mineralization/alteration package is best developed in a package of highly strained felsic volcaniclastic rocks cut by a series of gabbroic dikes/sills proximal to the contact with metasedimentary rocks.
Mineralization intersected at the Stover occurrence observed in holes MTU-20-49 and MTU-20-52 is coincident with a linear southeast striking magnetic-low, as well as moderate IP chargeability and resistivity trends, which are generally interpreted as an indication of gold mineralization. The magnetic-low zone extends for several kilometres northwest and southeast, where it remains untested by drilling.
Final assay results from hole MTU-20-49, along with partial results for MTU-20-52, are reported in Table 1. Additional results will continue to be provided as they are received.
The ongoing fully funded drill program is testing 29 priority targets delineated with a combination of airborne and ground magnetic surveys, an induced polarization (“IP”) survey, selective leach soil geochemistry (“EDTA”), and geological work. The focus of the current drilling is to test the BDZ, which is a large-scale deformation corridor and represents the fault-offset continuation of the Goudreau-Localsh deformation zone (the “GLDZ”). The GLDZ hosts Alamos Gold’s Island gold mine, Argonaut Gold’s Magino gold deposit in development, as well as the past producing Edwards and Cline mines. The BDZ reaches widths of up to 3 kilometers and strikes east-southeast for 17 kilometers on Manitou property. The second drill to be added in
Table 1. Highlight Drill Intersections
Hole ID | From | To | Core length(1) (m) | Au (g/t) | Target |
MTU-20-49 | 48.3 | 55.9 | 7.6 | 1.0 | Stover Occurrence |
including | 53.0 | 55.9 | 2.9 | 2.2 | Stover Occurrence |
MTU-20-49 | 85.6 | 125.5 | 39.9 | 0.5 | Stover Occurrence |
MTU-20-49 | 131.8 | 137.3 | 5.5 | 0.4 | Stover Occurrence |
including | 131.8 | 134.6 | 2.8 | 0.5 | Stover Occurrence |
MTU-20-52* | 102.6 | 120.6 | 18.0 | 0.8 | Stover Occurrence |
including | 110.0 | 117.7 | 7.7 | 1.3 | Stover Occurrence |
including | 111.7 | 113.8 | 2.1 | 3.3 | Stover Occurrence |
including | 111.7 | 112.4 | 0.7 | 5.4 | Stover Occurrence |
MTU-20-52* | 124.5 | 140.9 | 16.4 | 0.4 | Stover Occurrence |
including | 124.5 | 136.0 | 11.5 | 0.5 | Stover Occurrence |
including | 124.5 | 125.5 | 1.0 | 2.3 | Stover Occurrence |
(1) | Lengths are reported as core lengths; True widths are currently not known |
* | Partial assay results; Final results pending |
About the
The Goudreau project is located 50 kilometres northeast of
Manitou has approximately
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Email: info@manitougold.com
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Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Manitou, including, but not limited to the receipt of applicable shareholder approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements
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