- Fieldwork, including prospecting, is now underway at Cross River Ventures’ (CRVC) Manitou Gold Project
- The project is located within the Archean Uchi Subprovince, in Northwestern Ontario
- Bayside Geoscience has been contracted to conduct a 2-week reconnaissance program at the Manitou property
- The Phase 1 field campaign will focus on assessing gold-bearing structures along strike and parallel to historic high-grade gold occurrences
- In April, the company announced the expansion of the Manitou project through the acquisition of the Lower Manitou mineral claims
- Cross River also announces that it has elected not to proceed with its existing option to acquire the Tahsis Gold Project
- Cross River Ventures is a gold exploration company
- Cross River is up 3.03 per cent on the day, with shares trading at C$0.17 at 11:01 am ET
Fieldwork, including prospecting, is now underway at Cross River Ventures’ (CRVC) Manitou Gold Project.
The project is located within the Archean Uchi Subprovince, in Northwestern Ontario, Canada.
The company owns its 100 per cent of the 6,570-hectare, Manitou Gold Project.
Bayside Geoscience has been contracted to conduct a two-week reconnaissance program at the Manitou property.
The Phase 1 field campaign will focus on assessing gold-bearing structures along strike and parallel to historic high-grade gold occurrences.
In April, the company announced the expansion of the Manitou project through the acquisition of the Lower Manitou mineral claims, which yield a large contiguous land position.
The Manitou area has undergone sporadic exploration from the late 1800s to the present day, and the property itself has seen several drill campaigns and sampling programs, in addition to minor historic gold production.
Drilling by St Joes Canada Inc (1983), and prospecting, sampling, and stripping (Ivar J. Riives, 2003; Rubicon Minerals Corp, 2005; Manitou Gold, 2011) have uncovered several north-northeast trending shear zones cutting through the property.
The most notable mineralization discovered to date occurs in 2 parallel NE-trending mineralized shear zones including;
a) the Queen Alexandria-Bird Island trend (5 km+ strike length with rock samples to 78.1 g/t Au; MDI152F07NW00008), and
b) the Reliance Prospect (2 km strike length of well-defined sulphide bearing, quartz flooded shearing over a 20 ft width, with rocks samples including 9.7 g/t Au, 6 g/t Au, and drill intercepts incl. 1m at 3.36 g/t Au; Manitou Gold, 2011; Riives, 2003; St. Joes Canada; 1983).
Both shear zones are open along strike and the Cross River team believes there is potential for untested gold mineralization both in strike extensions and in parallel structures.
Cross River also announces that it has elected not to proceed with its existing option to acquire the Tahsis Gold Project, located in northern Vancouver Island.
The company has provided notice of termination of the option to the existing owner of the Project and has arranged to reimburse the owner for certain expenditures requirements on the Project as required by the terms of the original option.
Cross River Ventures is a gold exploration company focused on the development of top-tier exploration properties in premier mining districts. The company controls a multiple project portfolio in Ontario, with the highly prospective ground in and among prolific, gold-bearing greenstone belts.
Cross River is up 3.03 per cent on the day, with shares trading at C$0.17 at 11:01 am ET.
