Mantis drills 2.053 gpt over 15.5-meters including high grade intercept and announces discovery of a significant stockwork gold system at Cree Lake see core sample
Toronto, Ontario – September 9, 2009, Mantis Mineral Corp (‘Mantis’-CNSX ‘MYN’) is pleased to announce the discovery of an incipient quartz stockwork system carrying significant gold values along substantial drill hole widths. The new discovery is located 150-meters northeast of the Main Trench and intersected the gold bearing zone at very shallow depths.
Assay results within the gold bearing zone in drill hole CL09-6 have returned a weighted average result of 2.053 gpt along a 15.5-meter cored interval. The intersection occurs from 5.5-meters to 21.0-meters which includes a high grade assay of 11.55 gpt.. The centre of the zone lies at an estimated vertical depth of 7.6-meters. The table below provides a summary of the drill intercepts, highlighting significant assay intervals included in the 15.5-meters.
Holes CL09-7 drilled on section with CL09-6, but collared 20-meters north, intersected the zone at a vertical depth of 15.5-meters. A 14-meter interval which correlates with the zone intersected in CL09-6, returned the following significant assay results; 1.42 gpt over 1.0-m, 1.29 gpt over 1.0-m, 0.832 gpt over 1.0-m, 0.678 gpt over 0.8-m, and 0.615 over 1.0-m. The intersection demonstrates the continuity of the zone at shallow depths leaving the discovery open at depth and along strike.
Five holes drilled under the high grade Main Trench where recent channel cut samples returned assays in excess of 38 ounces per ton, intersected the main shear of the Flint Rock structure at 30-meters and 60-meters vertical depths. Anomalous gold values were encountered.
This new discovery significantly increases the gold mineralization potential of the Cree Lake property. The system hosts gold grades not unlike those initially encountered at West Timmins Mining Inc.’s and Lakeshore Gold Corp’s Thunder Creek property, where initial intercepts graded 0.82 gpt over 25.6-meters. The spatial association of producing gold mines and gold mineralization with regional breaks or faults is well established in the gold camps of Ontario. For example, the Destor-Porcupine fault associated with the Timmins camp, the Kirkland Lake-Larder Lake break associated with the Kirkland Lake camp and the Rideout deformation zone associated with the Sways area. The Ridout deformation zone, a 130-kilometer long structure with which the Cree Lake fault is associated, hosts past producers such as the Jerome Mine, Tyrranite mine, Kenty Mine as well as numerous gold showings.
Unlike high grade showings associated with narrow leader veins in shear-fault zones, which also exist on Mantis’ Cree Lake property and throughout the Swayze belt, stockworks mineralized systems potentially form larger deposits and targets. This new discovery, of a vein system with an incipient stockwork network carrying disseminated pyrite provides a larger mass for geophysical tracing and is more amenable to definition drilling as well. An image log of drill hole CL09-6 and assay intervals is available for viewing on Mantis’ website at www.mantismineralcorp.com.
Mantis is preparing to mobilize a crew immediately to begin trenching nearby outcrop in order to help discern the orientation and magnitude of the system. Upon completion of this phase over the next couple of weeks, an extended drill program is anticipated.
Commented Robin Ross, CEO: “ This is an incredible discovery for Mantis, although one hole does not make a mine, the wide intercepts encountered near surface coupled with the style of mineralization are all hallmarks of large gold systems. This new gold discovery comes at a very opportune time for Mantis’ shareholders, a time when gold prices and gold investment interest are at historic highs. We plan on conducting an aggressive exploration program at Cree Lake this fall and through the winter to define the potential of this discovery.”
This news release has been viewed and approved by Walter Hanych, senior geologist and project manager, who is responsible for program design and quality control of exploration undertaken by the Company.
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