Manitou Gold Intersects 5.0 g/t of Gold over 4.6 m at its Goudreau Project in Northeastern Ontario

SUDBURY, Ontario, May 25, 2020 (GLOBE NEWSWIRE) -- Manitou Gold Inc. (TSX-V: MTU) (the “Company” or “Manitou”) is pleased to announce initial drill results from the Rockstar Vein at the Company’s Goudreau Project, which is aimed at testing a higher grade mineralized “shoot” down plunge of previous drilling.  Drill highlights from the first three holes at Rockstar, which intersected 5.0 g/t gold over 4.6 m (including 11.1 g/t Au over 1.2 m), demonstrate an increase in both thickness and grade of the vein at depth. The Rockstar Vein is open to the east and additional down-plunge drilling in that direction is ongoing.  

Exploration Drilling

The Rock Start Vein drilling is following up on surface channel sampling completed in 2019 (see news release dated July 31, 2019), which indicated that the vein averages 3.0 g/t gold over an average width of 1.5 m (apparent width) where it was exposed by mechanical stripping over a strike length of 100 m. The first three drill holes at Rockstar tested the down-plunge extension of the vein at a vertical depth of approximately 170 m. The three most recently completed holes were drilled over a strike length of approximately 100 m below drilling completed by the previous operators. Two of the drill holes encountered typical Rockstar alteration, mineralization and deformation extending the zone at depth, with hole MTU-20-16 showing an increase in thickness and grade of the mineralized zone relative to the mineralized zone on surface and in previous, shallower drilling. Hole MTU-20-16 intersected a broad shear zone over 15 m, which includes a mineralized zone that returned 5.0 g/t gold over 4.6 m, including 1.2 m of 11.1 g/t gold (True widths are estimated at 70% to 90% of the drilled thickness). Hole MTU-20-20, which was drilled 50 m along strike to the east-southeast, also intersected the mineralized zone, where it returned an assay of 3.78 g/t gold over 0.4 m. The mineralized zone in this hole is terminated abruptly against a wide lamprophyre dike that has cut off part of the zone at this location. For further information on the Goudreau Project visit the Company’s website at www.manitougold.com.

“We are pleased by the wide gold intercept reported today and are encouraged by the down-plunge continuity of the Rockstar vein confirmed by this drilling. We look forward to the receipt of assays from additional holes testing further down plunge of the holes reported today,” stated Richard Murphy, President and CEO of Manitou. 

At the Patents property, the Company previously completed four drill holes totaling 458 m that were designed to test a shallow IP and SGH anomaly. This 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 its core. The highlights from this drilling included 12.8 g/t gold over 0.5 m (see news release dated April 30, 2020). The same deformation and mineralization trend was recognized in all four drill holes. Although high-grade in places, the trend is challenging to quantify due to the erratic nature of the gold mineralization. Future exploration will focus on delineating higher-grade and more continuous portions of this deformation and mineralization trend, in addition to drilling other geophysical targets on the property.   

Core sampling was completed on select intervals ranging from 0.1 to 1.0 m in length.  Samples were cut in half with a core saw and half-core samples were individually bagged, sealed and labeled  The other half-core was placed back in the core box and has been retained on site for verification and reference purposes. Standards and blanks were routinely inserted into the sample stream. At least 20 percent of the samples submitted to the laboratory consist of samples used for quality control.

Samples were delivered to Activation Laboratories (“Actlabs") in Thunder Bay, Ontario. At the laboratory, samples were crushed up to 80% passing 2 mm, riffle split (250 g) and then pulverized to 95% passing 105 microns. Gold was analyzed by fire assay with an AA finish, using the 50 g sub-sample. Over limit analysis was performed on all primary assay results >3 g/t gold. All over limits were tested by fire assay with gravimetric finish using a 50 g sub-sample. Actlabs is a certified and ISO 17025 accredited laboratory. Actlabs routinely inserts certified reference materials for at least 20 percent quality control in each batch.

Richard Murphy, P. Geo is the qualified person responsible for the technical content contained in this release. He has reviewed and approved the content herein. 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Manitou, including, but not limited to the receipt of applicable shareholder approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements