As the days get longer and more efforts are being poured into the search for gold, the spotlight is being shone on more junior mining firms with interesting finds.
Sudbury, Ont.-based Manitou Gold (TSX-Venture:MTU) shared with investors and potential investors news of the acquisition of two important packages of mining lands Wednesday. These purchases extend Manitou’s current 100%-owned properties along the Goudreau-Localsh deformation zone (GLDZ), by an additional 27 kilometres.
Manitou’s contiguous land position along the GLDZ and related deformation zones, north of Wawa, Ont., now extends from just east of the past producing Cline Mine, to beyond the Renabie Mine, 37 km to the east.
Commented CEO Richard Murphy, “I am confident that this newly dominant position in the GLDZ and extending to the Renabie Mine, will prove to be a valuable asset for Manitou. Until now, nobody has been able to assemble such an extensive and contiguous position of prospective lands along this proven gold belt.”
Shares reached higher by a penny, or 22.2%, to 5.5 cents, on volume of 203,000 shares.