Manitou Gold Inc.

Description

Manitou Gold Inc is a publicly traded mining and exploration company based in Canada.

The exploration entity owns 22,500 hectares of prospective gold properties surrounded by Alamos Gold’s Island gold mine and Barrick Gold’s Renabie Gold mine.

Manitou Project lies on the Michipicotem Archean Greenstone Belt across 37-kilometer strike length with seven under-explored lithology favorable deformation zones.

The company says that these zones are supported by 50 government-documented and registered gold occurrences.

The Goudreau Project is another prospective mining land spread across 350 square kilometers between Alamos’ Island Gold Mine and Argonaut’s Magino deposits.

Manitou Gold also holds interest in 148-kilometer prospective gold land package in the historical Gold-Rock district in Dryden. The exploration company considers this project to be highly under-explored with an attractive geological setting.

The project is known to host 61 documented and registered gold occurrences comprising three past producing mines: the Gig Master, Elora and the Laurentian.

Manitou Gold says that the project features significant discovery potential since it has been remained relatively untouched by modern-day exploration practices until recently in 2021.

Manitou claims to be well financed and intends to engage in aggressive exploration operations on prospective land areas.

On July 22, 2021, Manitou acquired the Stover and Renabie Easy Lake Properties by issuing 9,555,555 common stocks and exercises its option to acquire these Northern Ontario-based properties.

The company was granted an option to acquire these properties on June 17, 2019.

As of 2021, Manitou holds a 100 per cent stake in each of the Stover properties subject to a two per cent royalty payment, of which 0.5 per cent can be repurchased.

With this acquisition the company completed the 100 per cent consolidation of its 350-kilometer Goudreau project.

Since its inception, the mining company claims to have intersected various gold mineralization zones on the Baltimore Deformation zone and continues to conduct drilling programs and exploration activities.

On May 12, 2021, Manitou significantly expanded the size of its drilling program on the BDZ zone to 30,000 meter.

It posts information about its Kenwest project, Gaffney extension and patents, Goudreau project and other properties in Canamerica and Sherridon.

It is TSXV-listed firm with stocks trading under ‘MTU’ ticker.