Manitou’s Goudreau Project Situated Within A Producing Gold Camp
Supportred By Major Shareholders In Alamos and O3 Mining
Message: VIDEO: Manitou Gold Discovers 60KM Nickel & Gold Trend
In search of Canada’s next gold discovery, Manitou Gold ( MTU:TSXV) sees billion dollar deposit potential on their Goudreau project in Northern Ontario. They recently executed a move that simultaneously raised funds and strengthened their treasury to focus on making such a discovery by selling 100% of their Dryden properties for 7$Million. Divesting a non-core asset allows them to focus more on Goudreau where they are determined to make a discovery.
They may have just accomplished this, albeit in the very early stages.
Goudreau Project Has 2 Zones, separated through faulting. The Goudreau-Lochalsh Deformation Zone” has seen multiple discoveries by other companies that have committed multi-million dollar exploration budgets to explore the area ( Trillium Mining, Alamos, Argonaut Gold ) The area was recently confirmed as emerging 'Juggernaut' for gold production with nearly 10 Moz of gold resources and reserves being developed and mined on Manitou's western flank.
The “Baltimore Deformation Zone” is an offset of Goudreau and is a 17KM trend of highly prospective gold targets for exploration in an area that is underexplored. The Baltimore Deformation Zone can be compared to the Destor -Porcupine faul. The Gold camp it helped create has become synonymous with gold. This is why management believes they have multiple shots at finding a billion dollar deposit.
The Baltimore Zone has a 10 km trend that has never been systematically explored, it is going to take allot of drilling and Manitou has demonstrated their commitment with multiple increases to their drill program in order to define a discovery. Their commitment to drilling this vastly unexplored area may have just paid off.
Not only are the exploring for gold, they may have also made a very significant Nickel discovery.
Manitou announced that they Identified Nickel-Iron alloy in drill core, outlining a 60 km structural trend highlighting large tonnage Nickel & Gold potential, identification of three structural trends with over 60 km cumulative strike length. In doing so they have identified awaruite, a naturally occurring nickel alloy with high nickel content. The key benefit of nickel-iron alloys ores over nickel-sulphide ores is that concentrates do not need smelting prior to further processing and shipping to refineries.
The discovery can be compared compared to Canada Nickel's Crawford deposit, located in Timmins, and the Dumont nickel deposit, located in Quebec.
A follow-up ground exploration program designed to further advance both gold and nickel targets along the BDZ and Easy Lake deformation corridors is underway.
With a potential discovery area this big, they are going to need help, and boy do they have it. They aren’t going to be doing this alone. Manitou is supported by 2 majors in Alamos (AGI) and O3 Mining (OIII ) who are providing Board Representation, Treasury Support and Technical Guidance for exploration.
Lastly, Manitou isn’t alone in the area. They are surrounded by Majors, one who also happens to be Alamos ( operator of the high grade Island Gold Mine and Manitou partner ) and Argonaut Gold (AR) who are preparing for production in 2023.
Sit back and enjoy this great interview with CEO Richard Murphy as explains why Manitou is the next Smallcap stock to own in one of Canada’s largest gold camps.
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