TORONTO, Oct. 7 /CNW/ - Mantis Mineral Corp ('Mantis'-CNSX 'MYN') is pleased to announce high grade gold values from its follow-up trenching program on its 100% owned Cree Lake gold project, where recent drilling discovered a new incipient quartz stockwork system carrying significant gold values along substantial drill hole widths. Recent drilling returned a weighted average result of 2.053 gpt along a 15.5-meter cored interval, including assays as high as 11.55 gpt from hole CL09-6 (press release September 9, 2009).
Trenching conducted immediately west of hole CL09-6 along a 50-meter length exposed bedrock that exhibits a zone of intermittent quartz veining and shearing over a 10-meter width hosted in volcanics. Spot cut* and grab samples within this zone, yielded a 46% return of samples with significant gold values ranging from 0.61gpt to 43.2 gpt. The average gold grade for these samples is 6.467 gpt.
These results significantly increase the gold mineralization potential of the Cree Lake property. They continue to confirm that the volcanic host rock is mineralized by a series of veins related to the incipient stockwork vein system intersected 50-meters to the east in hole CL09-6.
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.
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. 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.
Commented Robin Ross, CEO: "I stated on September 9, that this is an exciting discovery for Mantis. Now the stripping and surface sampling gold assay results are beginning to provide an early indication of the extent of this system. It's currently a minimum of 50-meters in length, 10- meters wide and open along strike and at depth. My guess is that Cree Lake will make a lot of believers out of those who feel the Swayze area does not host significant gold deposits. The same could have been said about Hemlo! Over the next six months we plan on aggressively determining the size and potential of this new gold discovery much to the delight of our shareholders."
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. Walter Hanych is the qualified person for all technical information in this release. All samples underwent analysis and assays at ALS Chemex Laboratory in Vancouver, B.C.
* Spot cut samples are select samples of mineralized material obtained
by cutting a slot 0.5-meters long by 5-centimeters wide and 7 to 10-
About Mantis Mineral Corp.
Mantis Mineral Corp. is a Canadian based resource and exploration company traded publicly under the symbol MYN on the CNSX. Mantis is focused on creating shareholder value through the exploration and development of its suite of strategically located, high-impact Canadian exploration projects.
The CNSX has not reviewed and does not accept responsibility for the
adequacy of this release.
SOURCE Mantis Mineral Corp.
For further information: For further information: Mr. Robin Ross, Chairman & CEO: (416) 362-1800, firstname.lastname@example.org, or visit our corporate website at www.mantismineralcorp.com