Dec 20 2010
Manitou Gold Inc. (TSX VENTURE:MTU) today reported diamond drill assay results from the Sherridon Property, located within the Upper Manitou Lake Area of the Kenora Mining Division.
The results are from the final three diamond drill holes of a nine hole (1,914 m) second phase drill program, designed to evaluate this newly identified area of multiple gold showings. The Company has also recently completed a phase of drilling of 9 holes at Canamerica, for which drill results are pending.
Sherridon Project
At the Sherridon Project, diamond drill hole SH-10-17 was drilled on the same section and 100m below previously released hole SH-10-16. SH-10-17 intersected multiple gold bearing veins, including 38.7 g/t Au over 0.5m, which occurred within a wider 2.75m intersection of 7.1 g/t Au. With the results of SH-10-17, the envelope of gold mineralization has been expanded and is now broadly defined with a thickness between 50m and 120m, an east/west strike direction of 150m, and a down dip dimension of 300m. The envelope of gold mineralization remains open to the east, west and down dip. In total, eighteen occurrences of visible gold were encountered in six of the nine holes.
The Company has initiated exploration on the extensions of this envelope of gold mineralization, with line cutting and ground geophysical surveys (induced polarization or "IP") planned for early 2011, with further drilling to follow. IP surveys have shown to be an effective exploration tool on the Sherridon Project for identifying and tracing the sulphide bearing shear zones hosting the gold mineralization.
Highlights of intersections that are the basis for the delineation of this broad envelope of gold mineralization consist of the following:
- 3.6 g/t Au over 1.5 m in hole SH-10-17
- 7.1 g/t Au over 2.75 m in hole SH-10-17
- 38.7 g/t Au over 0.5 m in hole SH-10-17
- 1.5 g/t Au over 2.0 m in hole SH-10-17
- 3.0 g/t Au over 1.65m in hole SH-10-17
- 46.0 g/t Au over 0.5 m in hole SH-10-12
- 14.3 g/t Au over 0.5 m, in hole SH-10-12
- 2.9 g/t Au over 2.5 m in hole SH-10-12
- 8.0 g/t Au over 0.8 m in hole SH-10-12
- 4.6 g/t Au over 2.5 m in hole SH-10-15
- 23.0 g/t Au over 0.5 m in hole SH-10-15
- 2.6 g/t Au over 4.8 m in hole SH-10-15
- 11.5 g/t Au over 0.7 m in hole SH-10-15
- 5.0 g/t Au over 1.0 m in hole SH-10-15
- 10.3 g/t Au over 0.5 m in hole SH-10-16
- 1.9 g/t Au over 1.0 m, and in hole SH-10-16
- 5.7 g/t Au over 1.0 m in hole SH-10-16
Holes denoted by an asterisk were reported in the Company's press release dated December 3, 2010.
In addition, prospecting from an area 1.2 km east of recent drilling and off the current grid has identified a new gold bearing structure, which has been traced for over 100m. Prospecting grab samples from this newly identified shear zone consisted of 40.6 g/t Au, 10.1, g/t Au, 3.9 g/t Au and 3.1 g/t Au. This shear zone is oriented parallel to the orientation of other defined structures investigated to date on the Sherridon property.
The gold showings associated with the Sherridon Project were discovered in 2009 and represent a new gold discovery. The property has not received any historic documented exploration.
Canamerica Project
At the Canamerica Project, the Company has very recently completed 9 holes, on the Little Master Area, and assay results with be released when they are received. Drilling at Canamerica will resume in the new year. The Little Master Shaft is located 3.2 km northeast of the Big Master Mine, within the Manitou Straits Deformation Zone.
The history and details of the Little Master operation is unknown as records were not preserved by previous operators. The shaft was sunk on a quartz vein system that has been traced on surface for 50m until it extends below overburden. Assay values from previous grab samples ranged from 2.6 g/t to 169.0 g/t Au, with a number of highly anomalous samples. The Little Master gold bearing vein is located along the flanks of a 600m long IP anomaly, which was partially tested as part of the most recent set of holes at Canamerica for which assays are pending.
Source: Manitou Gold Inc.