Analysis- Part OneSorry once again for the delay. My forte is geology and not really the stock game, although I am learning quite a bit as I get further into it.
The first thing I wanted to do was to go back and look at the historical details, and assess potential. From the first several releases and the website I can see why the interest.
From a March/10 NR, I have highlighted the important areas and added a few of my own comments.I will try to keep them as layman as possible.
SUDBURY, ONTARIO, Mar 31, 2010 (Marketwire via COMTEX) --
Manitou Gold Inc. (TSX VENTURE:MTU |PowerRating)is pleased to provide assay results from the 2009 prospecting programon the Kenwest Property in the vicinity of the Big Master Mine. TheKenwest property consists of 32 mining patents and 10 mining license ofoccupation situated within the Kenora Mining Division, of northwesternOntario, optioned from Goldcorp Inc.
The Kenwest property hosts the past gold producing Big MasterMine, which operated briefly from 1902 to 1905 and again between 1942and 1943. The #1 shaft was sunk to a depth of 183m(shallow depth and great for mining economics) 30,000 tons averaging at 12.7 g/t Au, with an additional19,000 tons averaging 10.6 g/t Au (both considered to be historicestimates pursuant to National Instrument 43-101 - see additionaldisclosure below) with development onfour levels (24m, 55m, 79m, and 107m). In 1942, historical reserves werereported at . Production reported for the period, however, totaledonly 9,443 tons. Historical assay plans indicate continuity of the goldbearing veins beyond the limits of the mined out area, with assays of16.8 g/t Au over 2.0 m, and 11.0 g/t Au over 2.0 m at the limits of themine workings.
The #2 shaft was sunk 65 metres east of the #1 shaft on aparallel gold bearing structure, and connects to the #1 shaft on the 24mlevel. Development work was completed on three separate levels, howeverproduction numbers are unknown. Historical assay plans from the #2shaft indentify a section of 8.2 g/t Au over 1.8 m and 6.9 g/t Au over1.8 m. This area was not mined and is situated within 25 m of surface.
In 2009, Manitou Gold prospected locations around the Big MasterMine #1 and #2 shaft, as well as the Helena shaft. Assay results confirmthe high grade nature of the gold bearing systems with three discretestructures being identified.
Heres the biggy people....
Samples from the Big Master #1 trendreturned assay results of 80.1 g/t Au proximal to the shaft area, 52.4g/t Au from the Helena Shaft area, and 93.2 g/t Au midway between thetwo shafts. This structure has been prospected along a distance of 1,020metres and has retuned numerous high grade gold assay results, asfurther disclosed below. In addition the historic operator followed thestructure with 407m long drift on the 183m level. Along the Shaft #2gold trend, assay results of 26.7 g/t Au were retuned. A third parallelsystem was identified in the prospecting program and returned assayresults of 11.4 g/t Au.
With these kind of numbers and still yet relatively unexplored, this could be a very high grade "bonanza style" discovery.