Manitou Gold Drills Wide Zone of Gold Mineralization at the Baltimore Deformation Zone on its 100% Owned Goudreau Property


SUDBURY, Ontario, Dec. 16, 2020 (GLOBE NEWSWIRE) — Manitou Gold Inc. (TSX-V: MTU) (the “Company” or “Manitou”) is pleased to announce initial assay results from its ongoing 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 occurrence, where the Company has completed 5 drill holes to date.Highlights:Three broad gold mineralized intersections within 100 m of vertical depth in first hole (MTU-20-49) at Stover occurrence returned:
° 0.5 g/t Au over 39.9 m (at 105 m down-hole), ° 1.0 g/t Au over 7.6 m (at 52.1 m down-hole), including 2.2 g/t Au over 2.9 m; and ° 0.4 g/t Au over 5.5 m (at 134.5 m down-hole). ° 0.8 g/t Au over 18.0 m (114 m down-hole), including 1.3 g/t over 7.7 m; and ° 0.5 g/t Au over 11.5 m (130 m down hole) within a wider interval of 0.4 g/t Au over 16.4 m.
About the Goudreau ProjectThe Goudreau project is located 50 kilometres northeast of Wawa, Ontario and is underlain by Archean-aged rocks of the Michipicoten Greenstone belt. The project area is traversed by several broad-scale deformation corridors, which host the majority of the important regional gold deposits and showings in the region. The Goudreau project covers approximately 338 square kilometres in this re-emerging gold camp that hosts Alamos’ Island Gold deposit and Argonaut Gold’s Magino deposit to the west and the past producing Renabie mine to the east.Manitou has approximately $3.7 million in its treasury and has strategic shareholders including Alamos Gold and O3 Mining.Sampling and Quality ControlSamples 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. Standards and blanks were routinely inserted into the stream of core and channel samples. At least 10 percent of the core and channel samples submitted to the laboratory comprise samples used for quality control. Actlabs routinely inserts their own 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 contained herein.For further information on Manitou Gold Inc. contact:Richard Murphy, CEO
Telephone: 1 (705) 698-1962
Email: [email protected]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
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