TORONTO, Dec. 4 /CNW/ - Mantis Mineral Corp ('Mantis'-CNSX 'MYN') is pleased to announce that it is planning a significant drill program scheduled for mid February for its Cree Lake gold property. The company intends to undertake this follow-up drill program commencing at the Mantis Occurrence, the new discovery reported in press release September 9th, in which a 15.5-meter drill intercept returned a value of 2.053, grams, and from which trench samples (see press release October 8th), yielded gold values as high as 43.2 gpt. The drilling will be advanced incrementally by stepping out along strike and down dip of the Mantis Occurrence, potentially testing it along a 1,500-meter strike length.
Prior to the drilling phase, to assist with the design stage of the drill program, Mantis is also testing the application of IP surveying to trace the mineralization. The test lines for this survey are scheduled for mid December to early January.
To date, the Cree Lake Gold Property consists of the Flint Rock Occurrence, a high grade quartz vein hosted in a shear-fault structure from which gold values in excess of 38 opt have been reported by Mantis, as well as the new Mantis Occurrence, from which drilling and trench sampling have yielded significant gold grades, as mentioned above, in an incipient quartz stockwork setting.
This 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.
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.
Commented Robin Ross, CEO: "This will be an exciting winter exploration season for Mantis. All we have to do is expand the zone by a few hundred meters along strike and down dip, and we are onto a major gold system. Although this sounds simple, and although the initial discovery may have had a certain element of luck associated with it, we know that from now on, it is going to take hard work by methodically employing geophysics and drilling to expand the zone."
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.
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, email@example.com, or visit our corporate website at www.mantismineralcorp.com