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Gold Exploration - Kenora Mining Division in Northwestern Ontario

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Message: Manitou Gold Provides Exploration Update

 

2019-07-31 10:37:09 AM ET (GlobeNewswire)
   
   

Manitou Gold Inc. (TSX-V: MTU) (the "Company" or "Manitou") is pleased to announce the initial results of the ongoing exploration work at its 100% owned properties along the Goudreau-Localsh Deformation Zone ("GLDZ") trend, located north of Wawa, Ontario.

The first set of channel samples covering a 100 metre section along strike of the recently-exposed Rockstar vein system, have been received. The gold grade of all channel samples across the Rockstar vein averaged 3.0 g/t gold, with an average width of 1.5m along the exposed strike length with individual weighted averages as follows:

 Table 1: Rockstar Trench Map
 Average weighted grades and widths
 Section     Au (g/t)    Width (m)
 10          1.5         1.4
 20          3.2         1.3
 30          2.3         1.5
 40          2.4         2.1
 41          3.2         1.0
 50          1.4         1.0
 60          3.6         3.5
 70          1.8         1.0
 80          1.8         2.0
 90          3.2         1.3
 95          6.8         1.1
 110         4.8         1.0

The Rockstar vein was stripped further to the east along strike indicating continuity of at least another 100 metres (channel sample assays of this area are pending). Gold mineralization in this geologic setting is known to plunge eastwards at depth. Previous operators of the Rockstar property drilled 12 exploration holes to a maximum depth of 100 metres. Further down plunge drilling to the east was restricted due to historical property boundary limits which have now been resolved by Manitou Gold's land package consolidation. Exploring this easterly down plunge potential has been added to Manitou Gold's drilling campaign targets.

The previous operator's 12 historic drill holes all intersected gold mineralization. Individual intersections ranged from 1.6 g/t gold to 10.0 g/t gold over widths ranging from 0.8 to 3.0 metres. Core lengths are believed to approximate 100% of true widths. The historic core has not been analysed or validated by Manitou, and should not be relied upon.

Manitou has also completed channel sampling of several additional stripped areas on the Rockstar property. Most notably, stripping at the Bankfield occurrence uncovered a broad shear zone containing abundant quartz tourmaline veining. Assay results of these additional channel samples are pending and will be released as they become available over the coming weeks.

Manitou Gold's 22,500 hectare land package is set between Alamos Gold's producing Island Gold mine on the west and the past producing Renabie mine on the east and offers Manitou Gold 37 km's of contiguous lands along known deformation zones. Exploration of these properties will continue with three geological teams working throughout the field season.

Richard Murphy, P.Geo is the qualified person responsible for the technical content contained in this release. He has reviewed and approved the content herein.

Channel samples reported herein were transported in sealed bags to Activation Laboratories assay lab in Dryden, Ontario. Samples were then crushed to 75% passing 2mm, split, then pulverized to 85% passing 75 microns. Using a riffle splitter, a 50g sub-sample was created. Then, 50g fire assays were performed with an AA finish. Over limit analysis was performed on all primary assay results >3 g/t Au. All over limits were tested by fire assay with gravimetric finish.

Manitou Gold has a quality assurance and quality control program in place. A high or low grade standard sample is submitted one every 40 samples, and a blank sample is inserted every 40 samples (average 1 standard or blank sample in every 20 assays). Results are validated against known standard values.

For further information on Manitou Gold Inc. contact:

Richard Murphy, CEO

Telephone: 1 (705) 698-1962

Pat Dubreuil, President

Telephone: 1 (705) 626-0666

Email: [email protected]

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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