Todd Keast P.geo / CEO of Manitou Gold will be in Toronto next Tuesday 30 October – Wednesday 31 October – Thursday 01 November , providing an exploration update on our gold exploration project near Dryden Ontario.
The Company has completed its 5,000m summer diamond drill program at the Gaffney Extension, and is currently awaiting final assay results from the lab.
You may recall the Company carried out an initial 7,000m drill program during summer of 2011 at the Gaffney Extension. This drill program was designed to confirm historical drill results by previous operator, Teck Resources during the 1980’s.
The best intercept of the Manitou 2011 program was 75.1m of 2.4 g/t Au as provided in news release dated 02 November 2011.
The Company had planned a follow up drill program on ice pads last winter, however unseasonably mild temperatures during 2011-2012 Winter did not provide required sub zero temperatures to construct drilling ice pads of sufficient load capacity.
Subsequently, the re-start of the Gaffney Extension drill program was delayed until this past June.
Two other significant developments of past year;
- The acquisition and consolidation of key properties in the Goldrock mining camp. The Elora patents (hosts 2 past producing historical mines) are contiguous to the Manitou Kenwest and Canamerica properties, as announced in news release dated 24 April 2011.
Kenwest returned an assay of 53.7 kilograms over 0.55m in the 2011 drill program (part of a 8.4 intersection of 4.9 g/t Au @ 50g/t cutoff – 3497 g/t Au uncut).
- Manitou Gold completed a $600,000.00 private placement with Rob McEwen as announced 18 September. Mr. McEwen was familiar with the Goldrock camp from his tenure at Goldcorp. The Kenwest property was a Goldcorp legacy asset. Goldcorp remains a shareholder of Manitou Gold.
The company anticipates adding additional mining depth to its Board of Directors in the near future.
Company treasury currently stands at $3MM.
Please contact the undersigned if you wish Todd Keast come by your offices next week for a brief presentation and exploration update.