Announcement • Nov 09
Manitou Gold Inc. Provides Exploration Update on its Goudreau Project in Northern Ontario Manitou Gold Inc. provided an update on its wholly-owned 366 km Goudreau project in northern Ontario. Manitou Gold’s Goudreau project is comprised of contiguous mineral claims within the eastern portion of the Michipicoten gold belt in northern Ontario. The Goudreau project is situated between Argonaut Gold’s Magino mine (Proven and Probable Reserves: 2.1 Moz @ 1.1 g/t Au; M&I Resources: 4.2 Moz @ 0.9 g/t Au) and Alamos Gold’s Island Gold mine (Proven and Probable reserves: 1.3 Moz @ 10.1 g/t Au; M&I Resource: 0.3 Moz @ 8.1 g/t Au; Inferred Resource: 3.5 Moz @ 13.6 g/t Au) to the west and, to the east, past-producing Renabie mine (1.1 Moz @ 6.6 g/t Au) owned by Barrick Gold. Major geological structures in the gold camp provide the main controls on gold mineralization and include the Goudreau-Lochalsh deformation zone (GLDZ), which hosts both the Island Gold and Magino deposits, and the Baltimore deformation zone (the BDZ), which represents the eastern fault offset extension of the GLDZ on Manitou ground. As the largest land holder in the belt, controlling 366 km of prospective mining lands surrounded by major gold deposits, Manitou is uniquely positioned for discovery of additional gold deposits in one of the fasted growing gold districts in North America. In addition, recent exploration has highlighted the potential for large tonnage ultramafic hosted nickel deposits analogous to the Dumont and Crawford nickel deposits. The BDZ is a long-lived and deep-seated structure and is interpreted as being responsible for the emplacement of the large volumes of intrusive rocks along the deformation corridor, including several recently identified nickel- and cobalt-bearing ultramafic intrusions. The recently completed maiden three-hole nickel drill program provided confirmation of the significant nickel-cobalt discovery at the Goudreau project. All three drill holes intersected continuously mineralized and serpentinized intervals of ultramafic rocks in excess of 200 metres lengths. Highlights from drill hole MTU-22-18, collared 900 metres west of discovery hole MTU-22-14, include 208.2 m grading 0.27% NiEq, including an interval of 27 m grading 0.32% NiEq starting 84.9 metres down hole. Results from drill hole MTU-22-19, collared 500 metres west of discovery hole MTU-22-14, include a continuous mineralized intersection of 252.1 m grading 0.27% NiEq starting at 90.5 metres down hole. Microprobe analysis on select samples from discovery hole MTU-22-14 indicates that nickel is dominantly hosted in heazlewoodite (70% nickel, 30% sulfur), polydymite (up to 70% nickel, 30% sulfur) and minor nickel alloys. To determine potential nickel-cobalt recoveries, the Company will focus on completing initial metallurgical test work through the remainder of 2022. The primary objectives of this program will be to evaluate the potential for gravity separation, combined with flotation and magnetic separation, to beneficiate the nickel and cobalt minerals. The aim will include evaluating the potential for rejecting silica and optimal grind sizes to be employed during flotation, as well as scoping magnetic separation test work to investigate the potential for recovering Ni-Fe alloys. Results are expected in early January 2023. The northeastern portion of the Goudreau project covers over 50 kilometres of strike length of prospective fault corridors with over 30 discrete ultramafic nickel-cobalt and numerous gold targets. The Company plans to continue exploring the existing gold and nickel targets at Goudreau and begin drilling identified targets starting as early as January 2023. More specific details will be provided before drilling commences. As previously announced, Manitou has recently been engaged in a review of various opportunities to advance its recent nickel-cobalt-PGE discovery at the Goudreau project, including a potential spin-out of the asset through a wholly-owned subsidiary. Following further discussions and considerations, the Company has decided to defer any decisions regarding a potential spinout at the present time in favour of pursuing other alternatives for advancing the nickel discovery in the near term such as joint venture or other arrangements. A further update will be provided in due course. Sampling and 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. Samples were analyzed for by a multi-element sodium peroxide fusion ICP-OES technique in Ancaster, Ontario. Precious metals including gold, palladium and platinum were analyzed by fire assay with ICP-MS finish. Actlabs is a certified and ISO 17025 accredited laboratory. Standards and blanks were routinely inserted into the stream of core samples. At least 20% of the core samples submitted to the laboratory comprise samples used for quality control. Actlabs routinely inserts their own certified reference materials for at least 20% quality control in each batch. Announcement • Sep 27
Manitou Gold Intersects 208M and 252M At 0.25% Nickel Confirming Significant Nickel-Cobalt Discovery At Goudreau Project Manitou Gold Inc. announce the confirmation of a significant nickel discovery at its 100% owned Goudreau project in northeastern Ontario. Preliminary results are from the first two drill holes that tested an ultramafic intrusion measuring 850 metres long and 200-300 metres wide. Maiden three-hole drill program now completed. All three drill holes intersected continuously serpentinized and mineralized intervals of ultramafic rocks in excess of 200 metres1. 252.1 m grading 0.25% Ni and 99 ppm Co intersected in hole MTU-22-19, drilled 500 metres west of discovery hole MTU-22-14; 208.2 m grading 0.25% Ni and 119 ppm Co intersected in hole MTU-22-18, drilled 900 metres west of the discovery hole. Broad intersections of nickel and cobalt provide confirmation of a significant nickel-cobalt discovery at the 100% owned Goudreau Project Diamond drilling began at the end of the third week of August, following up on the prior results that indicated the untested potential for significant nickel mineralization comparable to Canada Nickel’s Crawford deposit, located in Timmins, Ontario and the Dumont nickel deposit, located near Val-d’Or Quebec. Results presented herein are the first from a three-hole diamond drill program (1,152 m) designed to confirm the significant nickel discovery arising from the winter drill campaign. As reported on June 13, 2022, Manitou intersected a 48 m wide interval of highly serpentinized ultramafic rocks grading 0.25% Ni and 100 ppm Co starting at 29.0 m after reaching bedrock (Figure 1). The discovery hole was collared in nickel mineralization near the southern margin of the ultramafic intrusion and did not intersect the full width of the mineralized zone. This three-hole maiden drill program targeted the strongest portion of the magnetic anomaly to the north of discovery hole MTU-22-14 with the first of these three drill holes. The remaining two drill holes were completed 500 and 900 metres west of discovery hole MTU-22-14, in a separate intrusion that measures 850 metres long and 200-300 metres wide. All three drillholes encountered continuously serpentinized and mineralized intervals of ultramafic rocks in excess of 200 metres. Results from drill hole MTU-22-18, collared 900 metres west of MTU-22-14, yielded three separate significant intersections of nickel mineralization. The strongest mineralization was encountered between 84.9 and 293.1 metres, yielding 208.2 m grading 0.25% Ni and 119 ppm Co, including an interval of 27 m grading 0.29% Ni and 127 ppm Co. Results from drill hole MTU-22-19, collared 500 metres west of discovery hole MTU-22-14, yielded a continuous mineralized intersection of 252.1 m grading 0.25% Ni and 99 ppm Co starting at 90.5 metres down hole. Samples from the third drill hole (MTU-22-17), which tested the strongest portion of the magnetic anomaly north of the discovery hole, have been delivered to the laboratory and assay results will be released as they become available. Announcement • Sep 08
Manitou Gold Inc. Provides Exploration Results in Support of Western Nickel Spin-Out Manitou Gold Inc. provided interim results from its ongoing exploration activities, in support of the initiative to spin out nickel-cobalt-PGE commodities from the Goudreau project into a newly incorporated subsidiary, Western Nickel Corp. Diamond drilling is currently underway at the Company’s 100% owned Goudreau project, following up on the recent results that demonstrate the untested potential for significant nickel mineralization comparable to Canada Nickel’s Crawford deposit, located in Timmins, and the Dumont nickel deposit, located in Quebec. As reported on June 13, 2022, Manitou intersected a 48 m wide interval of highly serpentinized ultramafic rocks grading 0.25% Ni and 100 ppm Co starting at 29 m after reaching bedrock. The hole was collared in nickel mineralization near the southern margin of the ultramafic intrusion and, therefore, did not intersect the full width of the mineralized zone. To date, the Company has completed two drill holes located 500 and 900 metres west of discovery hole MTU-22-14, in a separate intrusion that measures more than 800 metres long and approximately 200-300 metres wide. Both drill holes have intersected highly serpentinized and mineralized ultramafic rocks over intervals in excess of 200 metres. Samples from the two holes have been delivered to the laboratory and assay results will be released as they become available. A third hole testing the strongest portion of the magnetic anomaly to the north of discovery hole MTU-22-14 is currently underway. The northeastern portion of the Goudreau project covers over 50 kilometres of strike length of prospective fault corridors, with over 30 discrete ultramafic nickel-cobalt targets. A total of 10 high quality targets were selected for immediate ground truthing. These priority targets were ground checked during the months of July and August. Seven of these targets returned nickel values ranging between 0.18% to 0.31% nickel and 70 ppm to 350 ppm cobalt. The average nickel grade of samples collected from serpentinized ultramafic rocks is 0.24% Ni. In addition to nickel, one sample returned 1.84 g/t palladium and 0.24 g/t platinum. Results of the remaining targets are pending and will be released when they become available. On July 13, 2022, the Company announced preliminary results from microscopic work on five samples of drill core from discovery hole MTU-22-14 grading between 0.25% to 0.28% nickel. Microscopic work determined that the ultramafic host rocks are extensively serpentinized and that nickel occurs in the form of nickel alloys. Characterization of nickel bearing minerals by recently received microprobe analysis indicates that nickel is dominantly hosted in heazlewoodite (70% nickel, 30% sulfur), Polydymite (up to 70% nickel, 30% sulfur) and minor nickel alloys. Microprobe work also confirmed that there was no detectible nickel in silicate phases of the rock, indicating near total liberation of silicate-bound nickel. 
