- Manitou Gold (MTU) has completed its maiden three-hole drill program at its Goudreau Project and confirms a significant nickel discovery
- Preliminary results are from the first two drill holes that tested an ultramafic intrusion measuring 850 metres long and 200-300 metres wide
- All three drill holes intersected continuously serpentinized and mineralized intervals of ultramafic rocks more than 200 metres with broad intersections of nickel and cobalt
- Manitou Gold Inc. (MTU) is up 14.29 per cent, trading at $0.04 per share as of 12:10 p.m. ET
Manitou Gold Inc (MTU) has completed its maiden three-hole drill program at its Goudreau Project and confirms a significant nickel discovery.
Preliminary results are from the first two drill holes that tested an ultramafic intrusion measuring 850 metres long and 200-300 metres wide.
All three drill holes intersected continuously serpentinized and mineralized intervals of ultramafic rocks more than 200 metres.
Broad intersections of nickel and cobalt provide confirmation of a significant nickel-cobalt discovery.
Highlights:
- 252.1 metres grading 0.25 per cent Ni and 99 ppm Co was intersected in hole MTU-22-19, drilled 500 metres west of discovery hole MTU-22-14
- 208.2 metres grading 0.25% Ni and 119 ppm Co intersected in hole MTU-22-18, drilled 900 metres west of the discovery hole
- Four holes drilled to date have tested just two of the 30 nickel intrusion targets identified on the Goudreau Project so far
Manitou Gold’s President and CEO, Richard Murphy, said that these long drill intersections confirm the discovery of a large nickel mineralized system.
“I look forward to unlocking all the value of this Nickel-Cobalt Discovery with the Spin-Out of Western Nickel Corp. on behalf of all of Manitou Gold’s shareholders.”
Manitou Gold is a Canadian exploration company with 225 sq. km. of prospective gold properties on the Michipicoten Archean Greenstone Belt. The company’s 100 per cent owned Goudreau Project is located in northeastern Ontario.
Manitou Gold Inc. (MTU) is up 14.29 per cent, trading at $0.04 per share as of 12:10 p.m. ET.
