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Manitou Gold intersects 15.7g/t over 0.7m at Goudreau Project near Wawa

Sep 3, 2020


Manitou Gold Inc. has intersected significant gold mineralization of 15.7 g/t gold over 0.7 metres within a wider mineralized interval of 18.0 metres at its 100% owned Goudreau project, located 50 km northeast of Wawa. Results reported herein represent partial results of a 60 metre wide drill intercept at the Patents property.

Highlights:

  • Newly discovered gold-bearing Porphyry zone intersected by drill hole MTU-20-32 grading 15.7 g/t gold over 0.7 m within a wider 18.0 m gold bearing zone (Partial results - awaiting results for the remainder of the hole.  See table below for full assay details);
     
  • Visible gold mineralization in 0.7 m wide quartz-carbonate vein at 106.8 m;
     
  • Significant veining and alteration intercepted at the Porphyry zone over core lengths of more than 60 m;
     
  • Porphyry zone is estimated to be 50 m wide (true width) and is open in all directions;
     
  • Further drilling to better understand the full potential of the discovery is underway.

“I am very encouraged with this broad intersection of gold mineralization in our first drill hole to test this recently identified porphyry zone,” stated Richard Murphy, President and CEO of Manitou Gold.  “Given the thickness of the gold mineralization within a wide, highly fractured and altered porphyry body, and its attractive location, being adjacent to a 50 metre wide, intense shear zone identified earlier this year, I look forward to future drill results from the continuing drilling of this new zone.  We will be drilling this new porphyry zone on our Patents property for the foreseeable future.”

This newly identified gold-bearing extensional quartz vein system is preferentially formed within a competent quartz porphyry intrusive body that flanks a major shear zone identified during the 2020 drill campaign (see news dated April 30, 2020). Results to date from hole MTU-20-32 have confirmed the presence of a discrete high-grade zone with peak assays of 15.7 g/t gold within a broader zone of veining and mineralization that appears to be at least 50 metres wide (estimated true width).

Project Scale Map
Patents Drill Plan

Further drilling is currently in progress to understand the full potential of this newly discovered zone. “Given that our first hole drilled to test the Porphyry zone intersected a newly discovered gold bearing zone, we will be focusing our efforts over the next two months on drilling more holes to better understand the potential of this zone. Our preliminary revised plan includes drilling another 12 holes into this zone in order to test in all directions along strike and at depth. In the meantime, field crews will spend more time refining high priority targets at the Baltimore deformation zone.”



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