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Be the first with the news that moves the market- Manitou Gold (TSXV:MTU) has posted assays from two properties in Northeastern Ontario.
- The Rockstar Vein at the company’s Goudeau project returned a result of 5.0 grams per tonne of gold over 4.6 metres, which included 11.1 grams per tonne of gold over 1.2 metres
- Meanwhile at the company’s Patents property, exploration work returned 12.8 grams per tonne gold over 0.5 metres
- Manitou Gold (MTU) is down 9.09 per cent and is trading at C$0.05 per share, with a market cap of $11 million
Manitou Gold (TSXV:MTU) has released the assay results from two properties in Northeastern Ontario.
Exploration work at Goudreau project and the Patent’s property drilled three and four holes, respectively.
The Rockstar Vein at Goudreau returned 5.0 grams per tonne gold over 4.6 metres, including 11.1 grams per tonne gold over 1.2 metres.
50 metres along strike to the south-east, Manitou intersected an assay of 3.78 grams per tonne of gold over 0.4 metres.
This result came from one of the initial three drill holes on the Rockstar vein. According to Manitou, the results demonstrate an increase in both thickness and grade of at depth.
The next step of Manitou’s plan with the Rockstar Vein is to follow up with down plunge drill holes to the easterly extension of the vein.
The drilling program is a follow on from a previous surface channel sampling program completed over the summer last year at the Goudreau project.
At Patents, the company completed four drill holes, totalling 458 metres.
The shallow holes were designed to test mapped metal anomalies at the site.
The drilling at Patents was the first ever done and led to the discovery of a wide mineralized zone. The best result was 12.8 grams per tonne gold over 0.5 metres.
Richard Murphy, the CEO and President of Manitou is encouraged by the recent exploration results.
“We look forward to the receipt of assays from additional holes testing further down plunge of the holes reported today,” he said.
Manitou Gold (MTU) is down 9.09 per cent and is trading at C$0.05 per share at 12:43 pm EDT.
