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Ontario: Cree Lake, Ring of Fire, Timmins - Manitoba - Saskatchewan

Message: CREE LAKE PROPERTY - Samples 196 ppm gold at Cree Lake

CREE LAKE PROPERTY - Samples 196 ppm gold at Cree Lake

posted on Jan 12, 2009 06:18AM

Mantis Mineral samples 196 ppm gold at Cree Lake

2009-01-12 11:08 ET - News Release
Mr. Robin Ross reports


Mantis Mineral Corp.'s compilation of assay data results from its Cree Lake gold property reflects a consistent, high-grade vein, hosted within an envelope of gold-bearing, sheared volcanics over a two-metre width and 80-metre strike length.

The Flint Rock Occurrence was exposed by a trench-strip area averaging 20-meters in width along a 100-meter length. Within this area, the main zone was exposed for an 80-meter strike length and averaged 2-meters in width. The zone remains open both at the east and west end, the east extension plunging into heavier overburden while the west end strikes beneath the waters of Cree Lake.

Gold grades weighted over 1.52-meters (5-feet) representing a contained length within the width of the 2-meter zone along its 80-meter strike length are summarized below. Background gold grade was derived from 12-channel cuts, of a composite of four 50-centimeter long samples forming a 2-meter long sample across the main volcanic zone, and averaged 1.0 grams per tonne.

    Sample No    Au ppm       Au opt       Au ppm       Au opt
                  20-cm        20-cm    1.52-meters   1.52-meters

    C174482     196.000        5.715       26.641        0.777
    C174483     103.500        3.018       14.469        0.422
    C174217      83.700        2.441       11.864        0.346
    C174213      61.100        1.782        8.734        0.255
    C174212      51.700        1.508        7.654        0.223
    C174263      50.100        1.461        7.443        0.217
    C174470      48.360        1.410        7.219        0.211
    C174222      45.600        1.330        6.851        0.200
    C174264      41.000        1.196        6.246        0.182
    C174490      36.700        1.070        5.680        0.166
    C165601      19.200        0.560        3.377        0.098
    C174255      19.035        0.555       12.862        0.375

Not included in the weighted average of the zone width are chip samples from the vein. They are tabled below; arranged vertically from west to east, with C174225 located at the extreme west end of the trench, sample C174268 located at the extreme east end of the trench, and the intervening samples located in-between along the vein's 80-meters exposed length. These samples were collected in many places where saw-cut extracting was impossible.

Significantly, these samples taken intermittently along the length of the vein, some in proximity to the channel cuts, support the high grade nature of the vein along its entire length.

    Sample      Au     Sample      Au    Sample      Au
      ID       opt       ID       opt      ID       opt
    C174225   1.148   C174203   1.840   C174296    8.77
    C174243   1.318   C174206   0.391   C174295   0.758
    C174484   0.346   C165601   0.560   C174401   5.016
    C174232   2.651   C174480   4.403   C174261   0.997
    C174231   2.021   C174481   6.678   C174265   1.825
    C174227   1.053   C174500   0.589   C174262   0.255
    C174214   5.686   C174494   0.764   C174269   0.189
    C174215   5.365   C174223   4.068   C174268  37.908
    C174250   0.459   C174295   0.758
    C165604   1.394   C174499   1.105

Mantis is very pleased with these results which will serve as a foundation from which to launch its future plans for the Cree Lake property. The plans include an extensive geological compilation, drill program and spring prospecting-mapping and trenching programs.

Commented Robin Ross, CEO; "The project is extremely exciting given that at the very early stage of exploration we have certainly established the gold continuity and grade of the vein at surface. The property may ultimately prove to host a much larger gold system and if these grades persist, a major discovery is in the making. Further work will be undertaken to evaluate its full potential. With our additional claims to the west, the potential strike length now exceeds 3,000-meters. Previous drilling by Flint Rock Mines in the winter of 1962-63 indicated 12 to 18 inch wide high-grade sections in drill cores with gold values ranging from 0.40 to 20.7 ounces per ton, and silver values from 0.32 to 4.54 ounces per ton. Our upcoming plans include increasing the strike length, verifying historical drill results and establishing mineable widths at depth. "

The Cree Lake gold property is situated in the Swayze portion of the Abitibi greenstone belt 5,000-meters south of the former producing Kenty Gold Mine. At the Kenty deposit coarse visible gold occurred in a network of sub parallel quartz veins, collectively attaining widths of 3.5-meters.

Cautionary note: While the historical assays reported do not conform to National Instrument 43-101 they are generally considered reliable according to local industry standards.

This news release has been viewed and approved by Walter Hanych, senior geologist and project manager, who is responsible for program design and quality control of exploration undertaken by the Company. All samples were analyzed by ALS Chemex.

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