TORONTO, May 26 /CNW/ - Mantis Mineral Corp ('Mantis' - CNSX 'MYN') is
pleased to announce that it is in the process of mobilizing field crews to its
Cree Lake gold property where trenching and sampling yielded gold values as
high as 1,300 gpt (37.91 opt). Cree Lake's consistent, high grade vein (the
'Flint Rock' occurrence), hosted within an envelope of gold bearing sheared
volcanic, over a 2-meter width and 100-meter strike length will be the focus
of this summers 1200-meter drill program. Field crews are expected to be on
site next week.
As a result of an on-going compilation program, 10 new target areas have
been identified for follow up field investigation, including prospecting,
sampling and mapping.
The Cree Lake gold property straddles for 7.6 kilometers a regional
east-west deformation zone known as the Cree Lake Fault located north of the
south shore of Cree Lake. This deformation zone is believed to be the westward
extension of the Cadillac Larder Lake Break (CLLB), an important structure
associated with the gold mines of Kirkland Lake. A feature of the CLLB is
widespread carbonatization, a process that has been quite active adjacent to
the Cree Lake Fault. The Flint Rock occurrence located 800-meters north of the
Cree Lake Fault may lie on an east-northeast fault/shear splay stemming from
the Cree Lake Fault and has the potential of extending for 2.7km in this
direction. This observation will be field tested in the up-coming program.
The Flint Rock Occurrence
This occurrence was stripped and sampled by Mantis in the fall of 2008,
the results of which were reported in earlier press releases and returned high
grade gold mineralization including visible gold. Significantly, the recent
compilation has revealed that a single hole drilled in 1990 by Vanin Mining,
collared 25-meters northeast of the limit of the current stripping returned an
assay from the interval 82.6-85.0-meters of 31.3 gpt (1.0 opt). This
intersection correlates with upward projection to surface of the shear hosted
fault-fill veins, which returned spectacular high grade values up to 1,300 gpt
(37.91 opt) from spot-cut and grab samples at surface. Interestingly, this
hole was stopped in a shear. More importantly, this hole, in-conjunction with
the stripped area extends the strike length to 125-meters and highlights the
open ended potential along its east-northeast extent.
Preliminary geo-referencing of the 22-holes drilled by Flint Rock, which
returned gold values ranging from 13.7 to 709.9 gpt, with respect to the
currently trenched area, indicates that the base-line established by Flint
Rock, although oriented in the same strike direction as the shear zone was in
fact located 100-meters to the southeast of the current trenches. This
suggests that Flint Rock drilled a sub-parallel gold bearing structure. If
field observations confirm this relationship, then the intervening 100-meter
section between the two structures becomes a highly favorable drill target.
In 1962, Flint Rock also drilled 10-holes on the island 1,200-meters
directly west of the 22-holes drilled on the mainland. On-going research and
field referencing should resolve the relationship of the island holes with
respect to the mainland holes. Prospectors have reported visible gold from
quartz veins sampled on the island. Although these reports are anecdotal, they
bear significant importance to resolving the island target with the mainland
South Cree Lake; 2,300-meters southeast of Flint Rock occurrence
An intense quartz stockwork zone, located 2,300-meters southeast of the
Flint Rock occurrence, with minor sulphide mineralization but strongly
hematite altered, occurs in a multi-phase felsic intrusive body 122.0-meters
south of its contact with mafic volcanic rock. The contact zone is represented
by fine grained rock produced by thermal metamorphism. A hole drilled into
this zone and stopped within it returned a value of 0.600 gpt over 5.5-meters.
This zone also has a geophysical magnetic signature that is reported to extend
North of the multi-phase intrusive body, two sub-parallel 1,200-meter
semi-continuous iron formations represent very strong exploration targets,
which in the past, received limited drill testing. One assay was reported to
return a value of 1.793 gpt over 3.81-meters. In the vicinity of the iron
formations a large boulder of sulphide iron formation returned a value of 30.1
gpt along 3.1-meters. Although the bedrock source for this boulder was never
determined, bedrock exposed in the immediate vicinity was reported to contain
anomalous gold values, varying amounts of molybdenite, galena, chalcopyrite
and sphalerite and was described as being identical to the boulder.
In summary, Mantis' Cree Lake property possesses the characteristics
associated with major gold camps. The complexity of the geological
environment, the recognition of major structures, and the distribution of both
high grade and anomalous gold values within various lithologies and quartz
veins bodes well for discovering a significant gold deposit.
Commented Robin Ross, CEO, "During these difficult times a shift in
exploration strategy becomes critical. As gold continues to shine, Mantis
feels that focusing on its high impact gold properties (specifically Cree
Lake, Foisey and Orphan) which may play host to a significant gold discovery
is the right thing to do. In summary, Mantis' Cree Lake property possesses the
characteristics associated with major gold camps. Mantis' exploration strategy
will not only focus on the Flint Rock occurrence, but also on the high gold
potential area south of Cree Lake contained within the contact zone of the
felsic intrusive and Cree Lake fault, as well as the island showing 1,200-
meters west of the Flint Rock occurrence."
In other news, Mantis will be electing to drop its option with Probe
Mines Ltd. on the Tamarack base metals project. Management has decided to
forgo further work on the project and allow the option to lapse in order to
focus on its more advanced projects.
While the historical assays reported do not conform to National
Instrument 43-101 they are generally considered reliable according to local
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.
For further information:
For further information: Mr. Robin Ross, Chairman & CEO: (416) 362-1800,
firstname.lastname@example.org, or visit our corporate website at