TORONTO, Dec. 2 /CNW/ - Mantis Mineral Corp ('Mantis'-CNSX 'MYN') is pleased to announce that it is in the process of reviewing quotes for an IP (Induced Polarization) geophysical survey on its Cree Lake Gold discovery ('Mantis occurrence') where recent drilling discovered a new incipient quartz stockwork system carrying significant gold values along substantial drill hole widths (2.053 gpt gold along a 15.5-meter cored interval).
Gold mineralization in the stockwork is associated with quartz veins and host rock containing 1-3% disseminated pyrite. Localized concentrations run as high as 8% pyrite. Metallic minerals that are good electrical conductors such as pyrite can be measured through an IP survey and therefore can reveal anomalous zones associated with gold mineralization. The measured response from the pyrite content thus becomes a drill target.
The intent of the survey is to initially run three test lines over the Mantis and Flint Rock occurrences, to determine their electrical response characteristics. Pending the results of the test survey, a much larger full grid survey of the trend of the mineralization will be conducted along a 1000-1,500 meter base line.
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: "We couldn't be more pleased with the way in which the Cree Lake project and the new Mantis Occurrence are unfolding. The anticipation of reviewing the results of the test IP survey, to track the gold bearing zone by geophysics, is very exciting. We are optimistic that anomalous zones will emerge from the data that will assist the geological team with designing a follow-up drill program."
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