Manitou Gold Drills 12.8 g/t of Gold over 0.5 m at Patents Property, Michipicoten Gold Belt in Northeastern Ontario

SUDBURY, Ontario, April 30, 2020 (GLOBE NEWSWIRE) -- Manitou Gold Inc. (TSX-V: MTU) (the “Company” or “Manitou”) is pleased to announce that it has intersected a significant gold bearing shear zone on its Patents Property at the Goudreau Project in the northeastern Ontario. Hole MTU-20-14 intersected 12.8 g/t gold over 0.5 m at a vertical depth of 50 m below surface. 

Exploration Drilling

During the month of April to date, the Company has completed four drill holes totaling approximately 458 m at its Patents property. The holes were designed to test a coincident soil gas hydrocarbon and IP resistivity/chargeability anomaly. The Company is currently drilling the Rockstar vein where one hole totaling 194 m has been completed to date.

Drilling at the Patents property was the first drilling to be conducted on the property and led to the discovery of a wide mineralized shear zone with laminated shear-type quartz veins near the core (see news release dated April 7, 2020). The third hole, MTU-20-14, intersected the vein zone at a vertical depth of approximately 50 m below surface and returned 12.8 g/t Au over 0.5 m within a wider interval of veining and intense alteration. This new zone is open for expansion in all directions.

“We are very encouraged by the wide zones of deformation and gold anomalies encountered in the first round of drilling, which intersected the continuation of the trend that hosts the Island Gold Mine and the past producing Edwards and Cline mines,” stated Richard Murphy, President and CEO of Manitou. “The identification of a broad, intense, gold bearing structure with quartz veins having the potential to host gold grades similar to that of Island Gold creates a great deal of excitement and this new zone will be a priority for further drilling at depth.”

The four drill holes at the Patents have been drilled on two sections with a lateral spacing of 550 m (Figure 1). All four holes intersected a wide shear zone with intersections up to 50 m in width, with such intersections displaying a similar style of alteration and hosting mineralization consisting of pyrrhotite, pyrite and minor chalcopyrite, along with quartz veining. Results reported herein represent partial results for three of the holes and additional assays will be released as they become available.