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Manitou Gold $MTU.ca Intersects Wide Zones of Increasing Gold Mineralization in Stover Zone Step-Down Holes $AGI.ca $OIII.ca $AR.ca $WDO.ca

Posted by AGORACOM-Eric at 8:08 AM on Tuesday, March 9th, 2021
  • Main Shear Confirmed Along 2 km Strike Length
  • Drilling at Stover continues to intersect broad zones of gold mineralization
  • 3.0 m grading 4.0 g/t Au within a broader intersection of 49 m grading 0.7 g/t Au

Manitou Gold Inc. (TSX-V: MTU) (the “Company” or “Manitou”) is pleased to announce additional assay results from its ongoing 10,000 metre drill program along the eastern portion of the Baltimore deformation zone (the “BDZ”) on its 100% owned Goudreau Project in Northeastern Ontario.

Highlights of drill results are from the Stover zone and newly identified extension zones, where the Company is reporting assay results from an additional eight drill holes completed in February of this year. Drilling is ongoing, with two diamond drill rigs currently testing the Stover zone and 28 other high priority targets on the eastern 4 kms of the 18 km length of the BDZ on Manitou property.

Highlights:

  • Drilling at Stover continues to intersect broad zones of gold mineralization down plunge of previously announced, shallow drill hole intersections, with highlights including:
    • 3.0 m grading 4.0 g/t Au within a broader intersection of 49 m grading 0.7 g/t Au (starting at 291 m down hole) in hole MTU-21-10, located approximately 200 metres down-plunge of hole MTU-20-56, which intersected 15 m grading 1.5 g/t Au, including 5.3 m at 2.7 g/t Au; and
    • 36.5 m grading 0.5 g/t Au (starting at 186.9 m down hole), including 4.4 m at 1.8 g/t Au in hole MTU-21-07, located 150 m up plunge of MTU-21-10.
  • Identified significant gold mineralization over widths of up to 12 m in step-out holes located 1.2 kms east and 600 m west of the Stover zone along the “Main shear”;
  • The Main shear has now been drill confirmed along 2 km of strike length.
  • All gold zones encountered along the BDZ to date remain open in all directions; additional drilling to test for higher grade shoots is ongoing. A second diamond drill is completing follow-up hole in the vicinity of the step-out drilling to determine the extent of gold mineralization in these new areas.
  • Aggressive step-down drill-hole underway with hole MTU-21-12, which targets the Stover zone 200 m down-plunge from the deepest intercept to date. Hole MTU-21-12 is an aggressive step-down drill hole which targets the mineralized zone at a vertical depth of approximately 450 metres.

“Our exploration thesis for the BDZ is that the orogenic gold environment proven up by our neighbours to the west is intact, with the main gold bearing sections beginning at depths of several hundred metres below surface. The deeper we have drilled on the Stover zone, the more confirmation we are getting in this regard. I am very optimistic about the ongoing hole MTU-21-12, which is testing 200 metres below our most recent, highest grade intersection to date,” stated Richard Murphy, President and CEO of Manitou Gold. “I am also looking forward to the results of our ongoing geophysical surveys, which are covering the western ten kilometres of the BDZ on Manitou Property. I expect that we will be ramping up our exploration drilling to test new targets in this area.”

Stover Zone

Today’s results from the Stover zone includes two drill holes collared 50 m and 200 m down-plunge of previously released drill holes, (see news release dated December 16, 2020 & news release January dated January 12, 2021) which intersected up to 39.9 m at 0.5 g/t in hole MTU-20-49, 0.8 g/t Au over 18.0 m, including 3.3 g/t Au over 2.1 m in hole MTU-20-52 and 15 m grading 1.5 g/t Au, including 5.3 m at 2.7 g/t Au in hole MTU-20-56.

Hole MTU-21-07 returned 36.5 m at 0.5 g/t Au (starting at 186.9 m down hole), including 4.4 m at 1.8 and Hole MTU-21-10 intersected 49 m at 0.7 g/t Au (starting at 291 m down hole), including 3.0 m at 4.0 g/t Au.

The new results demonstrate the down-plunge continuity of mineralization and validate the interpretation of steeply westerly plunging shoots. Drill results to date demonstrate the continuity of mineralization over a distance of 200 metres along strike and 350 metres down plunge.

The company is now completing an aggressive step-down drill hole which targets the mineralized zone at a vertical depth of approximately 450 metres and 200 metres down plunge of the deepest intercept to date.

Read More: https://agoracom.com/ir/ManitouGold/forums/discussion/topics/756875-manitou-gold-intersects-wide-zones-of-increasing-gold-mineralization-in-stover-zone-step-down-holes-main-shear-confirmed-along-2-km-strike-length/messages/2307185#message

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